Broadcasting
What Can the Rest of the World Learn From Africa’s Approach to Tech and Innovation
By Ndagi Job Goshi, GM of Liferay Africa
When it comes to listing the regions that have embraced and taken the biggest advantage of digital transformation, most commentators wouldn’t put Africa anywhere near the top. And purely based on metrics, they would be right. According to BCG, Africa trails other regions of the world in digital penetration, usage, and capabilities, and its companies are generally less mature than those in more developed markets.
That said, digital maturity levels across the continent are rising rapidly. And, outside of the broad picture, there are examples of African companies using digital transformation in exciting and innovative ways. Within these examples are lessons that can be applied to the rest of the world, not least because they show that digital transformation is an ongoing process and not a “once-and-done” exercise.
You can compete with big multinationals
During the 2010s, the “Africa Rising” narrative — brought about by unprecedented economic growth during a period of relative political stability — saw many multinational companies either enter the continent or expand their existing operations. Despite their considerable heft, however, many have struggled to compete with local companies.
That’s because these companies have been able to combine technology with on-the-ground knowledge to build a real competitive advantage.
Whatever troubles it’s faced in recent years, mobile operator MTN (itself an enabler of digital transformation) was able to enter Nigeria at a time when other international carriers were too afraid to. The other companies that had a chance to bid on spectrum in Nigeria were more focused on the country’s risks than on its opportunities, and as a result they held back. MTN was able to use its experience and data gathering capabilities to establish and grow a massive footprint. Today, MTN is the largest mobile operator in Nigeria and has 64-million internet subscribers.
Globally, smaller companies can similarly use local knowledge, coupled with a focus on digital transformation, to remain competitive amongst much bigger players.
Utilise the technology at hand
For years, many column inches were devoted to how Africa’s high mobile penetration rates (as high as 149% in parts of Sub-Saharan Africa) would allow it to leapfrog more developed markets. More recently, there was a sense that this promise was unfulfilled and that Africa had missed out on its first-mover advantage.
There is evidence, however, that this disparaging view may have been misplaced. More and more African tech startups are being acquired by international companies. Their technologies are then baked into their acquirer’s offerings. Many of these technologies are mobile-based and are built off the back of Africans being willing to experiment and adopt new technologies that people in more developed markets might be willing to try.
Startups aren’t the only ones innovating either. Financial services giant Discovery perfected its Vitality rewards programme in South Africa, progressively integrating it with new technologies (including smartphone apps and wearables), sometimes years before its competitors. This success then allowed it to expand the programme internationally to more than 20-million users in countries like the UK, Canada, and China.
Customer experience is always crucial
When it comes to the areas in which African companies lead their international competitors on BCG’s digital maturity index, one observation stands out:
In businesses where customer-centricity is key (such as banking and telecoms), African players compete more effectively.
It’s also hardly surprising that these are two sectors where Africa has led the world when it comes to technology-led innovation.
Their success shows how important customer experience is to digital transformation. Some companies might approach digital transformation as a technology project. Implement all the right technologies, the thinking goes, and the organisation will be transformed. When they inevitably don’t get the rewards they were hoping for, they might wonder why they spent all that money and revert back to old ways of doing things.
In truth, digital transformation is more about a mindset shift within organisations than it is about technology adoption. That is, organisations need to embrace the idea that technology can help them better understand and serve the customer, allowing them to create personalised experiences rather than just lumping new technology onto old ways of doing business.
Embracing innovation
Ultimately, while Africa may be less digitally mature than other markets, there can be no doubt that businesses on the continent are unafraid to embrace technology and innovation. And, in the customer-centric ways in which they’ve done so, despite facing adversity and strong headwinds, there are lessons for the rest of the world to learn from the tenacity and ingenuity birthed and nurtured in the African soil.
Gold remains one of the most powerful commodities in the global financial architecture. It is widely recognized that, for traders in Nigeria, specifically, currency pressures, inflation expectations, and shifts in global liquidity make up the macro environment more often than not; hence, understanding the correlation of gold with key Forex assets is more of an economic insight than a trading tactic.
The correlation between gold and currencies, equities, bonds, and even energy markets provides a broader framework for interpreting global risk sentiment. A growing number of Nigerian investors use this correlation to hedge against inflation, read capital-flow trends, and adjust trading strategies across major currency pairs.
Why Gold Matters in Today’s Macro Environment
This can be explained by looking at the larger picture and how global factors either positively or negatively impact the price of gold: spiraling inflation, geopolitical tension, tightening by central banks, and the flight-to-safety dynamic that heightens in moments of market stress. African traders, especially those active with international brokers such as JustMarkets, are very sensitive to how gold performs not only as a commodity but also as a macro indicator.
Indeed, the strongest correlations of gold are more often found with the US dollar, major bond markets, equity indices, and energy instruments in periods of high geopolitical risk. Each one of these offers a different angle for Nigerian traders to approach macroeconomic changes.
Gold and US Dollar: The Most Watched Correlation
The inverse correlation between XAU and the USD remains one of the bedrock relationships in global finance. It usually weighs on gold because a stronger dollar raises the opportunity cost of holding the metal. Conversely, the opposite has occurred when the market has priced in rate cuts, rising inflation, or policy uncertainty.
This relationship provides Forex traders in Nigeria with a macro perspective:
USD strength; pressure on gold; bullish signals for USD-pairs like USD/JPY or USD/CHF
USD weakness; appreciation of gold; potential strengthening of the non-USD majors
This dynamic is often emphasized by platforms such as JustMarkets in their markets analytics, allowing traders to match the technical setup with real policy shifts from the Federal Reserve.
Gold and Bond Yields: A Window into Global Risk Appetite
Gold is highly sensitive to real interest rates. When US real yields fell, it sent gold higher because investors saw it as a hedge against inflation and thus a haven. Yet higher yields tend to dampen demand for precious metals.
To traders, this correlation is a reason for short-run volatility around announcements like:
US CPI
FOMC decisions
Results of Treasury auctions
In countries like Nigeria, when domestic inflation is high and Naira pressure amplifies sensitivity to global risk, the movement of gold often proves an early indicator of how capital might rotate between safe havens and risk assets worldwide.
Gold and Equity Markets: The Fear Gauge
While geopolitical tensions or recession fears tend to deflate equity markets, they strengthen gold. This negative relationship is considered helpful for traders looking to deduce spikes in volatility and risk-off flows. Examples include:
Sharp US30 or NAS100 declines coupled with XAU/USD rallies
Broad-based sell-offs driven by political uncertainty or commodity shocks
This dynamic helps explain to the Nigerian analysts focused on policy and political economy how global risk events transmit to the local market through capital-flow sentiment.
Gold and Energy: Transmission via the Inflation Channels
Although gold and oil are not directly correlated, both respond to inflation expectations. Surging oil prices can fuel inflation forecasts that support the price of gold.
This channel is particularly important in the case of Nigeria, a major oil exporter. When crude markets temporarily tighten due to supply disruptions or OPEC policy decisions, gold becomes a complement to hedge against global inflation risk.
Trading with the Use of Gold Correlations
A structured approach allows traders to put gold’s relationships into practice:
Start with the macro driver.
Identify whether inflation, geopolitics, or monetary policy is the primary force shaping markets.Translate the macro event into correlation expectations.
Example: falling bond yields lead to a weaker USD, which in turn supports gold and could lead to upside in EUR/USD.Use correlation clusters instead of isolated signals.
Gold + USD + bonds provide a more reliable picture than gold alone.Apply risk management aligned with volatility cycles.
Gold’s volatility often spills over into major currency pairs.
Market platforms like JustMarkets emphasize these cross-asset links to help traders simplify complex macro interactions into actionable insights.
Why Nigerian Traders Pay Close Attention
The Nigerian economy is highly integrated into global commodity flows; inflation cycles, dollar liquidity, and geopolitical developments tend to reach the local market faster than the pace at which policy adjustments can be made.
Gold serves as a barometer of global risk, a hedge against currency depreciation, and a signal of moves in the key USD pairs that headline Nigeria’s trading activity.
In a region increasingly active in the Forex market, understanding the relationships involving gold is not just about trading but also a strategic tool for analyzing global economic behavior
Mr. Tim Akano, New Horizons Chief Executive Officer, took centre stage at the Nigerian Information Technology Reporters’ Association (NITRA) annual end-of-year meeting on Thursday, December 18, 2025, recounting the company’s remarkable growth and reaffirming free IT training for journalists.
Tim Akano, New Horizons Chief Executive Officer, in a group photograph with NITRA Members
Speaking directly to IT media members at the company’s training facility in Lagos, Akano acknowledged the critical role journalists played in supporting New Horizons during its formative years two decades ago.
He detailed how the firm evolved from a handful of staff to one of Africa’s leading ICT skills training organisations, now employing about 500 staff across multiple training centres nationwide.
Akano Spotlights Youth Training, University Partnerships
Akano highlighted that New Horizons has trained over 500,000 youths, particularly tertiary institution students, equipping them with practical IT skills essential for Nigeria’s digital economy.
He announced recent partnerships with universities, including a new agreement with Afe Babalola University, to scale hands-on training programmes for students.
“This growth would not have been possible without the media’s support in documenting our journey,” Akano stated, pledging continued free IT skills training for media members to remain competitive in the evolving digital landscape.
Reciprocal Support Defines Long-Standing Partnership
The venue hosting the NITRA meeting underscored Akano’s generosity; NITRA Secretary Chidiebere Nwankwo secured the free facility after contacting him—a gesture consistent with New Horizons hosting multiple association events and training IT journalists since its inception 20 years ago.
Participants shared personal testimonies of Akano’s support, including veteran journalist Aaron Ukodie, whose daughter—an Accounting graduate from the University of Johannesburg—received NYSC placement and IT scholarship at New Horizons.
The Guardian’s Yemi Adeyemi recounted Akano accommodating his editor’s child for mandatory IT training after other firms declined.
Members praised Akano’s commitment to human capital development as evidence of deep appreciation for the media community that chronicled New Horizons’ success over two decades.
National Identity Management Commission (NIMC) has launched the NIMC Pre-Enrolment Portal to revolutionise the National Identification Number (NIN) enrolment process, enabling applicants within Nigeria and in the Diaspora to capture biodata online prior to biometric verification at enrolment centres.
NIMC
Accessible via penrol.nimc.gov.ng, the platform allows users to fill enrolment forms, schedule appointments, upload supporting documents securely, and manage personal details directly, thereby slashing congestion, minimising wait times, boosting data accuracy and enhancing overall service efficiency at centres nationwide.
NIMC Director-General and CEO, Engr. (Dr) Abisoye Coker-Odusote, spearheaded the initiative as part of the Commission’s technology-driven strategy to fortify institutional performance, aligning with President Bola Ahmed Tinubu’s Renewed Hope Agenda that emphasises digital transformation, efficient public service delivery and inclusive national development.
Dr Kayode Adegoke, Head of Corporate Communications, highlighted key benefits including simplified biodata handling, confidential data protection through robust security measures, reduced physical centre visits and heightened operational effectiveness, urging all prospective enrollees to adopt the portal for a faster, citizen-friendly experience.[conversation_history]
The move underscores NIMC’s mandate under the NIMC Act No. 23 of 2007 to manage the National Identity Database, issue NINs and foster a reliable digital identity ecosystem vital for national planning, with users advised to complete pre-enrolment online before heading to selected centres for biometrics.
Nigeria Police suspends tinted glass permit enforcement over court injunction
FIRS Rebrands as Nigeria Revenue Service, as New Tax Laws Take Effect
Galaxy Backbone Celebrates the Federal Government’s Paperless Civil Service Milestone
Banks to Impose N50 Stamp Duty on Transfers of N10,000 and Above from January 1
How to Use the Correlation of Gold with Other Trading Assets in the Forex Market
Nigeria Records Highest Weekly Cyberattacks in Africa — Report
Banks quietly move to enforce new ₦50 transfer levy from Jan. 1
Financial Sector Faced AI, Blockchain and Organised Crime Threats in 2025 – Report
Report Reveals Half of 2025’s Compromised Passwords were Already Leaked
Minister Claims Bandits Exploit Poor Network, Bounce Calls Off Multiple Towers
Telecom3 days agoT2 Faces NCC Probe in Benue Over Major Service Outage in 9 LGAs
Telecom3 days agoMTN Nigeria Crowns Ayo Benzi Winner of Next Afrobeats Star
E-Business3 days agoJumia CEO says Black Friday Signals Nigeria’s E-Commerce Maturity
E-Financial3 days agoGTCO Secures Regulatory Approvals to Raise N10bn in Private Placement
General News3 days agoNDIC Reinforces Full Oversight Compliance to Safeguard Depositors
E-Financial2 days agoBanks to Impose N50 Stamp Duty on Transfers of N10,000 and Above from January 1
Telecom3 days agoNCC Unveils Draft 5-Year Spectrum Roadmap, 60 GHz License-Exempt Guidelines to Boost Broadband, Innovation
Telecom3 days agoNCC Grants 45 Days for Telecoms Firms to Fix Unapproved Shareholding Changes