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SAP Business One Solution Displayed at LEAP Africa CEOs Forum

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SAP West Africa in collaboration with one of its partners, Hartford Green Consulting showcased the SAP Business One Solution at the 10th Leap Africa CEOs Forum, which held in Lagos during the week.

A recognized annual event in the Small Medium Enterprise circle, the forum attracts over 800 guests annually including SME founders, captains of industries, CEOs and Managing Directors drawn from different sectors of the economy and public sector officials.  The theme of this year’s forum was Staying ahead: Maximizing Profits and Mitigating Risk.

The Forum initiated in 2005, brought together entrepreneurs, CEOs of top corporations and indigenous companies, risk management experts from different sectors as well as local and international speakers to share knowledge and insights that will equip entrepreneurs to build sustainable local businesses that continue to yield value for generations.

Explaining the rationale for participating, Kelechi Nwosu, channel director, SAP West Africa, said: “In this era of trade globalization, organizations are constantly seeking ways to improve performance and remain competitive.  SAP is a global leader in Enterprise solutions delivery and has over the years worked with organizations of different sizes to become more innovative, this has helped redefine the competitive landscape and also help them run better.”

“We recognize that SMEs play an important role in the growth and development of every economy and are committed to supporting the growth of this sector in Nigeria working with our partners.  SAP offers best in class solution for SMEs and Enterprises alike.  Our alliance with Leap Africa is a justification of our commitment to make a difference in the SME space.  The best run businesses run SAP,” he added.

The SAP Business One application is business management software that caters to small and mid-sized businesses.

A complete and customizable solution, the single, integrated solution provides clear visibility into the entire business and complete control over every aspect of business operations.

It captures all critical business information for immediate access and use company-wide.

Unlike accounting packages and spreadsheets, it delivers what is needed to manage key business areas such as accounting and finance, sales and customer management, purchasing and operations, inventory and distribution, reporting and administration.

SAP Business One is designed with flexibility in mind because every business is different.  Whether it is deployed in the office or in the cloud, it can be accessed from the road using SAP Business One mobile app. 

What’s more, employees can start using it from day one.  And as the business grows, you can customize and extend SAP Business One to meet your evolving needs.

Ade Adenuga, managing partner, Hartford Green Consulting said, “The SAP Business One application offers an affordable way to manage your entire business – from sales and customer relationships to financials and operations.  Designed specifically for small businesses and sold exclusively through SAP partners like Hartford Green Consulting, it helps you streamline processes, capture all of your business information in a single, scalable system, act on timely information and drive profitable growth.”

He added that the SAP Business One application is trusted by over 47,000 companies in 150 countries and can be deployed on premise or in the cloud in as little as 2 to 8 weeks.

The Forum provided CEOs of SMEs with practical tips for organizational growth and sustainability, foster sharing of best practices in entrepreneurship, enable SMEs identify and mitigate risks to promote business growth and provide networking opportunities for partners, sponsors, invited guests and participants – to interact and discover prospects and challenges for SME growth and development.

Earlier in his keynote address at the forum, Dharnesh Gordon, managing director, Nestle Nigeria PLC said Nigeria has very creative entrepreneurs with a passion to win, and warned that a crisis is a terrible thing to waste if the entrepreneur cannot learn from it, because business is about learning.

He urged entrepreneurs to continue to innovate as a new way of doing business lies in the innovation process.  “Crisis and risk is exactly what life is about. You have to continue to innovate and in the innovation process is a new way of doing business.  Embracing risks should be the DNA of every entrepreneur, so embrace it as an opportunity to learn.”

Abubakar Suleiman, executive director, Finance and Strategy, Sterling Bank in his presentation on managing financial and currency risks in the Nigerian and global business landscape, said, “The world is now a global village and there is a growing contagion of risk of international development on local or national businesses,’’ and charged entrepreneurs to always seek advice on issue of foreign exchange as recent currency devaluation and rising interest rates have grave implications for the business sector.

Speaking on importance of insurance and other formal risk mitigation strategies in protecting businesses, Oluwole Oshin, founder and managing director, Custodian and Allied Insurance Plc, explained that insurance transfer or shared risk could make the difference between a growing concern and bankruptcy, while emphasising, “ As SMEs, you cannot do much without transferring your risks’’.

Other renowned speakers such as Clare Omatseye, managing director/chief executive officer, JNC International and President, Healthcare Federation of Nigeria, Adepeju Adebajo, Managing Director at Lafarge Cement Wapco Nigeria, amongst others spoke at the event.

These presenters with key insights spoke on handling financial management and currency risks in the Nigerian and global business landscape, managing supply chain, operations and sales risks in Nigerian business landscape, importance of insurance and other formal risk mitigation strategies in protecting businesses as well as building a culture of risk management: thinking one step ahead.

Since its launch in 2005, the CEOs Forum is reputed as a platform for exposing business owners to the importance of succession planning, instituting effective systems, structures and ethical leadership within their organizations to ensure long term sustainability.

To date, the CEOs Forum which fosters the exchange of ideas and best practices, has attracted over 3400 business owners, chief executives, directors, managers, as well as leaders in the public and non-profit sectors.

SAP is the world leader in enterprise applications in terms of software and software-related service revenue.

With a 43-year history of innovation and growth as a true industry leader, we are the world’s third largest independent software manufacturer based on market capitalization.

Hartford Green Consulting, on the other hand, has been an acredited SAP Channel Partner since 2008, and has delivered SAP projects for organisations in virtually all sectors and industry verticals including Oil & Gas, Defence, Public Sector, and Financial Services.

Hartford has a specialist team delivering successful SAP Business One projects to the Nigerian SME sector to build value, manage risk and improve performance…

 


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Wema Bank Launches Second FGN-ALAT Digital ‘Skillnovation’ Cohort

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Wema Bank has launched the second cohort for the FGN-ALAT Digital Skillnovation Programme in partnership with the Federal Government to train and equip two million young people and 1 million MSMEs across Nigeria with relevant digital skills.

Since the launch of the first cohort in 2023, over 300,000 youths and business owners have leveraged the platform as a launchpad for their business and career success.

This cohort featured 100% virtual learning sessions through which participants from the 36 states in Nigeria and the Federal Capital Territory (FCT) were provided with self-paced online learning experiences.

As cohort 2 begins in the second quarter of 2024, the FGN-ALAT digital programme is officially transitioning to physical training sessions and the curriculum will cover key digital skills including software engineering, product management, business analysis, cloud computing and product design, among others.

This phase of the programme will be executed via FGN-ALAT digital hubs, which will be set up in the different states across the six geopolitical zones in Nigeria to ensure that every Nigerian can access the programme’s full benefits regardless of their location.

These hubs will be equipped with training and incubation facilities ideal for digital-driven learning, giving participants the opportunity to acquire marketable and transferrable digital skills and gain a competitive edge in the global digital ecosystem.

The FGN-ALAT digital hubs will be set up in phases and trainings will commence accordingly, starting with Borno  and Anambra State.

Wema Bank’s Executive Director of Retail and Digital Business, Tunde Mabawonku, emphasised the pivotal role of the programme in bridging the gaps in Nigeria’s macroeconomic landscape towards national development.

“We are unwavering in our commitment to supporting MSMEs and with the FGN-ALAT Digital Skillnovation Programme, it’s all about the bigger picture—which is why we have partnered with the Federal Government to augment the scale of this programme’s impact.

“By tailoring this programme to suit the needs of both entrepreneurial minded and professionally inclined Nigerians, we are not just arming SMEs for more efficient business management and growth, we are also equipping Nigeria’s workforce for increased productivity and the ripple effect will not only create more viable employment opportunities for Nigerians towards reduced unemployment and underemployment rates, but further drive economic growth and national development, boosting Nigeria’s position on the global playing field.

“The digital evolution is moving sporadically and by empowering our youth and MSMEs with in-demand digital skills, we are ensuring that Nigeria is not left behind as the world evolves.

“Beyond the intellectual resources and other non-monetary opportunities, we are going a step further to provide financial support for these participants in form of millions of naira in equity capital, soft loans and grants, to enable them put their learnings to practice and build sustainable streams of income that could help them become employers in their own right.

“I encourage you to take the big step forward in achieving your business and career goals by joining the programme. All you have to do is visit the website to register. This programme is completely free and there’s more than enough room for you. Your success is Nigeria’s success and as your unique journey unravels, our promise remains certain,” he said.

Referring to the programme as an eye-opener for all, Mariam Isah, a beneficiary of Cohort 1, said, “It’s almost unbelievable all I’ve learnt in one month virtual training.

“I started this training simply looking for a way forward for my business but I have unlocked secrets that are life changing not just in my business but in all aspects of life. I am so grateful for this rare opportunity, and I can’t wait to be a part of the cohort 2.”


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StarNews, Global Black Economic Forum Launch Business Competition In Partnership with MTN & USAID

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Africa’s leading video streaming platform, StarNews Mobile and the Global Black Economic Forum (GBEF), have announced a call for applications for the launch of their Business Competition in Lagos, Nigeria.

Held in partnership with MTN and United Nations Agency for International Development (USAID), the initiative will empower Nigeria’s most promising businesses that are classified as Small-Medium Enterprises (SMEs) with invaluable investment and partnership opportunities from the USA.

Held over 10 weeks between April 8th to June 14th, hosted exclusively on the StarNews Biz Channel on the StarNews platform, this competition offers a platform for emerging entrepreneurs to showcase their ventures and gain national visibility.

With subscribers voting for their favourite candidates, the top 20 contestants will seize the spotlight and make their mark on the business landscape.

The StarNews Business Competition in partnership with GBEF delivers a unique opportunity for thriving Nigerian SMEs to access mentoring, funding, partnerships and socio-economic development tools through the Global Black Economic Forum.

With the prospect of securing cash prizes through StarNews worth up to NGN5,000,000, getting access to StarNews’s network of investors and the opportunity to gain national visibility by having their business on the StarNews web platform.

The top three winners will also receive coaching from GBEF’s Academy for Advancing Excellence and become part of GBEF’s ecosystem of global leaders committed to social and economic justice across the Black Diaspora.

Previous speakers at GBEF convenings from the entertainment sector include Wyclef Jean (Haitian Musician & Activist), Debra Lee (Former CEO of Black Entertainment Television – BET) and Ceci Kurzman (Founder of Nexus Management Group). Applications will close on April 5th 2024.

Speaking on the competition’s launch, Guy Kamgaing, Founder and CEO at StarNews Mobile, says “The StarNews Business Competition is a passion project close to our hearts at StarNews Mobile.

It’s about discovering the most promising business entrepreneurs and creators in Nigeria, opening up global opportunities for them and providing them with the resources and tools to achieve their goals.

By partnering with MTN, USAID and GBEF, we want to be a platform of empowerment for these SMEs by helping them give back to the communities that are supporting them.”

According to the US Embassy and Consulate for Nigeria, over 80% of Nigerian startups are incorporated in the United States and more than 60% of venture capital funding in Nigerian startups accounted for by the US.

In 2023 alone, Nigerian startups raised a total of $398mn however, this signalled a 66% funding decline compared to 2022 due to the global economic downturn, reinforcing the massive need for a fresh injection of capital and business support for Nigeria’s emerging SMEs.

Alphonso David, President and CEO of the Global Black Economic Forum notes that, “Our partnership with StarNews Mobile is a critical resource as we continue to build the collective strength of entrepreneurship across the Diaspora.

“Building a sustainable ecosystem of Black entrepreneurs in the United States and across the African continent is essential to create a future that makes economic opportunity and economic freedom a reality for all.”

A sister company to ESSENCE, GBEF advances its work by convening global summits and conferences, bringing together world leaders, business leaders, entrepreneurs, celebrities and civic leaders to address the most challenging problems facing our communities.

GBEF’s Academy for Advancing Excellence facilitates workforce and leadership development strategy, addressing the talent pipeline & employee lifecycle, providing leadership development & coaching, and conducting institutional assessments & research.

GBEF also develops and implements economic and social justice policy recommendations with partners ranging from civil and human rights organisations to government entities and corporations that advocate for economic opportunity, social justice, and health equity through thought leadership, advocacy and litigation.

Launched in 2017, StarNews Mobile empowers African content creators with the unique opportunity to monetize their work through a subscription model, boasting over 4 million subscribers and a thriving community of more than 120 content creators.

With a strong presence across six countries including Cameroon, Nigeria, Côte D’Ivoire, Congo, Benin and Ghana, the platform has also established key partnerships with major telecom operators such as MTN and Orange.

To-date, StarNews Mobile has secured over $8mn in funding with its most recent raise – a $3mn pre-Series A funding round in October 2023 – led by Janngo Capital with participation from French football players Aurélien Tchouaméni, Jules Koundé and Mike Maignan.

 


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Companies Invest More than $100,000 Yearly to Upskill their Cybersecurity Teams – Study Reveals

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Over 70% of businesses pay more than USD $100,000 for additional training annually to keep skills of their cybersecurity employees up to date, a recent global Kaspersky study has revealed.

However, the surveyed companies also highlighted that there was a lack of relevant courses covering new challenging spheres in the educational market and stated that training does not always bring them the expected result.

In its recent study ‘The portrait of the modern Information Security professional’, Kaspersky examined the topic of the global cybersecurity staff shortage, analysing the exact reasons businesses lack cybersecurity experts, and identifying the ways they evaluate and upskill their cybersecurity workforce¹.

According to the research, companies are investing significant amounts in upskilling their cybersecurity teams: 43% of organisations globally say they usually spend between $100,000 and $200,000 per year on information security courses, while 31% even invest over $200,000 for training programs. The remaining 26% state they usually pay less than $100,000 for educational initiatives².

However, cybersecurity practitioners also note that the educational market is struggling to keep up with the rapidly changing industry and fail to deliver the necessary training programs on time.

Survey results for the Middle East, Turkiye, Africa (META) region shows that the scarcity of courses covering new challenging spheres (48%) was the main problem for those searching for cybersecurity training.

50% of respondents from the META region also stated that trainees tend to forget what they learned because they had no opportunity to apply newly acquired knowledge, therefore the courses were useless to them.

The need for special training pre-requisites such as coding and advanced mathematics, which were not specified at the pre-registration stage were also problematic for 37% of practitioners from the META region.

“With a constantly evolving threat landscape, businesses should continually improve the skills of their cybersecurity personnel in order to be well prepared for sophisticated cyberattacks.

“Developing high-profile specialists within the company and building internal expertise can be an effective strategy for organisations that aim to retain existing employees and allow them to grow professionally, instead of constantly hunting for new candidates and checking their professional backgrounds and practical skills.

“For organisations served by Managed Service Providers it is also important to maintain a pretty high level of expertise internally and use the same language when discussing the scope of services and Service Level Agreement with them,” comments Veniamin Levtsov, VP, Center of Corporate Business Expertise at Kaspersky.


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