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Verraki Partners Unveiled, Positions to Address Africa’s Intractable Challenges

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Following the reorganization of Accenture operations in Nigeria, Verraki is now a registered business intermediary for Accenture in Nigeria

A new business and technology solutions firm has been launched, which promises to partner with enterprises and governments to accelerate the development and transformation of Africa.

The new entity named ‘Verraki Partners’ is focused on implementing technology and business solutions designed inherently for Africa and specifically fit for purpose, while also curating business ventures to unlock new sources of growth across the continent.

Led by foremost corporate professionals as well as former Accenture leadership in Nigeria, Verraki will apply its global expertise and local insights to partner with enterprises and governments to accelerate the development and transformation of Africa by providing business solutions uniquely tailored for Africa.

With this launch, Verraki is asserting its capability not only to provide tailored business solutions across Technology, Advisory and Ventures, cutting across the Social Sector, Services and Real Sector, but also its focus on working with its clients to provide solutions to Africa’s seemingly intractable challenges.

Unveiling its new corporate identity during an interactive session held in Lagos, Nigeria; the Managing Partner, Niyi Yusuf who until now was the Country Managing Director for Accenture in Nigeria explained that Verraki would be working with enterprises and governments to ignite opportunities, unleash their potential, pivot and turnaround their performance to create a better future. “Professional services firms in Africa are currently at an inflexion point.

Digital technologies, revolutionary ideas and new business models are creating disruptions and new factors such as agility, flexibility, risk tolerance, cost-leadership, value for money and entrepreneurship are key requirements for success.

Verraki’s birth at an auspicious time like this is driven by our understanding of clients’ needs and our desire to harvest the opportunities the disruption brings and participate fully, via a rebalance and reconfiguration to address the specific needs of the market,” he said.

“We are now able to expand our services to cover more sectors of the economy, to service different types of clients (small and big, local and multinational) and invest in the market while taking measured risks and developing relevant home-grown solutions that will be needs-based and affordable, offering significant value for money.

As the African Union launches the Africa Continental Free Trade Area in 2019 to create a single continental market for goods and services, with free movement of business persons and investments, we are excited about the prospects on the continent and look forward to contributing to Africa’s transformation via fit-for-purpose solutions and working with leading enterprises and governments to drive their capacity and motivation for change”, he continued.

Following the reorganization of Accenture operations in Nigeria, Verraki is now a registered business intermediary for Accenture in Nigeria.

Services to Accenture clients in Nigeria will now be delivered through Verraki Partners and Accenture will continue to support and provide services to Verraki, including delivery support and access to specialized skills on projects as applicable.

Verraki will also develop technical support agreement for specialized support provisioning with other global companies in USA, Europe, China, India among others as required.

Other partners at the firm include Toluwaleke Adenmosun, Partner, Services (former Managing Director Financial Services, Accenture Nigeria); Niyi Tayo, Partner, Technology (former Managing Director Technology Services, Accenture Nigeria); Abayomi Olarinmoye, Partner, Real Sector (former Managing Director, Resources, Accenture Nigeria) and Kelvin Balogun, Partner, Ventures and Accenture alumni who was former President, West, East and Central Africa at The Coca-Cola Company.

The pioneering leaders of Accenture in Nigeria, Adedotun Sulaiman and Omobola Johnson are supporting Verraki as advisors and will work with its leadership to drive its transformation agenda with Africa’s enterprises and governments.

 


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E-Business

Report Reveals Most Organisations Fear AI-driven Cyberattacks but Lack Key Defences

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A recent Kaspersky study reveals that businesses are increasingly worried about the growing use of artificial intelligence (AI) in cyberattacks.

According to the findings, 70% of surveyed companies in the Middle East, Turkiye and Africa (META) region reported a rise in cyber incidents over the past year, with over half of respondents (53%) noting that many of these attacks were likely AI-driven.

The study underscores the reality that AI, which has revolutionised numerous industries, is now also empowering cybercriminals, adding an additional layer of complexity to the threats businesses face.

In its latest study titled “Cyber defense & AI: Are you ready to protect your organisation?” Kaspersky gathered the opinions of IT Security and Information Security professionals working for SMEs and Enterprise-level companies regarding new challenges in protecting their organisations against cyberattacks involving the use of AI.

Leveraging AI by cybercriminals is a serious concern for 73% of respondents from the META region. The pressure of this challenge is pushing companies to reassess their cybersecurity strategies and look for solutions that are both proactive and comprehensive.

To effectively tackle AI-amplified threats, businesses in the META region consider regular training to build internal expertise (94%), highly qualified personnel (94%), and relevant external cybersecurity expertise (93%) as the most important factors for protecting their organisations.

They also recognise the importance of having enough staff in their IT teams (91%) and using third-party security solutions (89%).

Despite rising awareness, the study reveals a concerning gap in readiness among many companies.

Over half of the organisations surveyed in the META region lack crucial resources needed to address these sophisticated threats – 56% don’t have the relevant external cybersecurity expertise at their disposal, 51% report that their IT teams are not large enough, 44% lack highly qualified staff, and 45% fall short in regular training efforts.

Additionally, 49% of respondents do not think they have adequate security solutions in place, exposing them to potential vulnerabilities. While most respondents claim to know how to address this lack of resources, the fact remains that they aren’t in place.

“The cybersecurity landscape today mirrors past challenges, with businesses questioning if current solutions suffice. Ransomware, once a primary threat, now demonstrates a dangerous surge, and business decision-makers start questioning the causes of this resurgence.

“The recent hype around AI offers an easy, if not entirely correct explanation. In reality, while using AI to create convincing phishing messages or more effective reconnaissance may be of some help, the root causes are most often more straightforward: cybercriminals have become more organised, better at collaborating, developing innovative attack strategies, and lowering the barriers for less skilled and resourceful attackers.

“So, while it’s useful to keep an eye on AI progress that can enable both attackers and defenders with new options, there are solid strategies companies can – and should – implement immediately.

“Companies should prioritise securing critical IT infrastructure with robust, multi-layered solutions that offer a unified security context. An XDR ecosystem, combined with skilled expertise – whether in-house or through a managed service – can greatly enhance defences.

“Additionally, ongoing employee training, including cybersecurity basics and safe AI practices, adds another critical layer of protection for the organisation,”  says Oleg Gorobets, corporate infrastructure protection expert at Kaspersky.

 


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Dr. Krishnan Bags Icon of Innovation and Digital Transformation in Africa @ CIO Awards

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Dr. Krishnan Ranganath, Regional Executive, West Africa at Africa Data Centres, a seasoned ICT and Telecommunications industry veteran, has been recognized as the “Icon of Innovation and Digital Transformation” at the prestigious CIO & C-Suite Conference & Awards.

The award, presented by Edniesal Consulting Limited, acknowledges Dr Krishnan’s significant contributions to Africa’s rapidly evolving digital landscape.

With over three decades of experience across multiple industries, Dr Krishnan has been instrumental in driving digital innovation and fostering strategic partnerships across the continent. His visionary leadership has been pivotal in addressing Africa’s unique challenges, including limited internet access, affordability, and infrastructure.

“We are honoured to recognize Dr Krishnan for his exceptional achievements. His dedication to innovation and digital transformation has made a profound impact on Africa’s technological landscape,” said Abiola Laseinde, CEO of Edniesal Consulting.

In response to the award, Dr Krishnan expressed gratitude to Africa Data Centres and his team, emphasizing the importance of addressing Africa’s connectivity challenges to unlock the full potential of digital transformation.

This latest recognition adds to Dr. Krishnan’s growing list of accolades, including the Lifetime Achievement Award at Africa’s Beacon of ICT Merit and Leadership Awards and recently the Data Centre Personality of the Year award at the 2024 Tech Innovation Awards (TIA).


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Mastercard, Alerzo, and e-Trade Alliance Unite to Enhance Financial Inclusion for 10,000 MSMEs

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Mastercard has collaborated with Alerzo, a leading Nigerian B2B e-commerce company, and the USAID-funded e-Trade Alliance to accelerate the digital transformation of and enhance financial inclusion among micro, small, and medium-sized enterprises (MSMEs) in Nigeria.

This collaboration aims to empower over 10,000 MSMEs with cutting-edge digital and financial solutions, enabling them to achieve sustainable growth and thrive in the digital economy.

Despite Nigeria’s progress in digital technology adoption, MSMEs still face significant challenges, including complex supply chains, reliance on manual, error-prone inventory management, and limited access to essential financial services.

This collaboration addresses these obstacles with user-friendly digital and financial solutions tailored to local MSMEs, such as Alerzoshop, Alerzo’s digital B2B marketplace; and Veedez, a comprehensive digital payment and business management tool, complemented by training initiatives to boost financial and digital literacy.

“Mastercard is committed to driving financial inclusion and empowering small businesses worldwide. Our collaboration with Alerzo, and the e-Trade Alliance in Nigeria provides MSMEs the digital tools and resources needed to thrive in today’s digital economy. By facilitating seamless digital payments and offering comprehensive business management solutions, we are fostering a more inclusive financial ecosystem and driving innovation and growth within the sector.

“This collaboration demonstrates the immense possibilities that can be unlocked through the power of public-private partnerships,” said Folasade Femi-Lawal, Country Manager, West Africa, Mastercard.

Alerzoshop enables MSMEs to stock up using their phones, enhancing their access to suppliers and facilitating secure, efficient and seamless digital payments via Mastercard’s global network.

Veedez is redefining how small businesses operate by helping them digitize processes, unlock new sales opportunities, and increase revenue, with micro-lending services providing vital financial support.

Adewale Opaleye, CEO, Alerzo Limited, added: “We are delighted to collaborate with Mastercard, and e-Trade Alliance for this digital transformation project in Nigeria.

“As the leading partner of choice for informal retailers and MSMEs, we recognize our responsibility to introduce digital retail solutions that will strengthen the economy and facilitate the adoption of a cashless society for the collective benefit of all.

“This initiative is part of our commitment to connecting millions of MSMEs in Nigeria to a world where digital connectivity is integrated into their businesses, making them more profitable and fulfilling.”

This collaboration aims to deliver targeted financial and digital training to 10,000 MSMEs across Nigeria by year-end. Introducing innovative, cost-effective payment solutions like Mastercard’s Tap to Pay, QR codes, Pay-By-Link, and Payment Gateway Services will accelerate digital payment adoption.

Upgrades to Alerzo’s infrastructure will enable seamless payment processing through the Mastercard network, benefitting MSMEs immediately upon signing up for Veedez, available on the App Store and Google Play.

Michael Poor, Senior Manager, Nextrade Group, e-Trade Alliance implementing partner, said, “This public-private sector collaboration underscores our dedication to fostering inclusive economic growth through digital transformation.

“By combining our expertise in skills development for ecommerce, inclusive trade, and access to finance, we aim to support Nigerian MSMEs in overcoming the challenges they face in the digital economy.

“Together with Alerzo and Mastercard, we are committed to empowering small businesses with the knowledge and tools they need to succeed to power more inclusive, sustainable growth in Nigeria.”

This collaboration underscores the commitment of all parties to empower Nigerian MSMEs by furthering the digital transformation of the economy and enhancing financial inclusion.

It supports Mastercard’s goal of bringing one billion people and 50 million micro and small businesses into the digital economy by 2025 and deepening collaborations with international institutions to drive more sustainable, inclusive economic development.


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