News
What We Can Learn from Africa’s Small Business Success Stories
By Gerald Maithya, General Manager, Microsoft Africa Transformation Office
Africa is often hailed as the birthplace of some of the world’s most exciting tech startups. From Cape to Cairo, small businesses across the continent have become catalysts for change, helping to drive economic prosperity and leaving their mark on local society. In fact, it’s predicted that Africa’s digital economy, fueled by hundreds of active tech hubs, could contribute nearly $180 billion to the region’s growth by the mid-decade.
![](https://www.nigeriacommunicationsweek.com.ng/wp-content/uploads/2024/05/Gerald-Maithya-General-Manager-Microsoft-Africa-Transformation-Office--300x188.jpg)
Gerald Maithya, General Manager, Microsoft Africa Transformation Office –
Having produced several industry shakers in the fintech space, it’s perhaps not surprising that the continent has become a very attractive option for startup investment. According to BCG, the rate of growth in the number of African startups receiving financial backing between 2015 and 2022 was nearly six times faster than the global average. And during the first nine months of 2023 alone, these tech ventures raised around $1.4 billion.
With SMEs already accounting for up to 90 percent of businesses in Sub-Saharan Africa, much focus is placed on supporting this vital sector of the economy to reach the levels of success we’ve come to associate with Africa’s tenacious startup culture.
The question is – how do we empower the small business down the road to rise to the ranks of a Flutterwave in Nigeria or M-KOPA in Kenya?
The cloud effect
Much of the answer lies with providing these enterprises with the technology they need to drive operational efficiencies and scale their operations. Cloud technology, in the form of Microsoft Azure for example, has played an important part over the years in supporting Flutterwave’s core operations. Now as the company seeks to build on its success it is again looking to the expansion power of the cloud, building its next generation platform on Azure so that it can process high volume payments at scale, while also ensuring a seamless and secure payment experience for its clients.
Kenyan startup, M-KOPA, recently raised $250 million in debt equity. The company, which provides digital financial services to underbanked consumers, also relies heavily on the computing capacity of the cloud. In fact, its ability to process 500 payments per minute makes it possible for the startup to provide 3 million people across Africa with access to essential services such as solar power systems, digital loans, health insurance and smartphones.
Beyond fintech, small businesses are having a transformative impact on other key sectors such as healthcare. And as with Flutterwave and M-KOPA, many of these enterprises have something important in common – the backing of powerful technology.
In South Africa, Omnisient, is helping to elevate crucial decision-making across healthcare systems through a recent partnership with Altron HealthTech. The startup has created a platform that facilitates data collaboration across records and datasets and can securely match anonymised patient information in a safe environment for analysis. This allows Altron’s healthcare partners more insight into disease patterns and can improve treatments and medication efficacy. In the long term, Altron HealthTech hopes to use this information to support the healthcare industry in determining where new clinics, pharmacies and hospitals need to be built.
Another startup leaving its mark in the healthcare space, Zen Dawa, is helping to reimagine pharmaceutical operations across both rural and urban areas of East Africa by creating online access to pharmaceutical offerings as well as financing solutions for small businesses and pharmacy shops. By making use of Microsoft’s robust AI platform built on Azure, the startup is helping to contribute positively to the availability of essential medicines across East Africa.
There are still many questions to be answered, however, when it comes to drawing a larger number of the continent’s SMEs into the digital economy. Africa is still behind other regions in the world when it comes to digital infrastructure coverage, access, and quality. We are also still battling a shortage of skills and inadequate regulatory policy environments. In fact, with just 22 percent of the population online, Sub-Saharan Africa is still the world’s least connected region.
Supercharging Africa’s dynamic startup ecosystem
Addressing these issues will rely in no small part on the development of strategic alliances across both public and private sectors. These collaborations are pivotal to the development of comprehensive solutions to the multi-faceted challenges faced by small businesses in Africa. The FGN-ALAT digital Skillnovation Programme is a great example of this. A partnership between the Federal Government of Nigeria, Wema Bank, Get Funded Africa and Microsoft, the programme aims to train and equip one million micro, small and medium enterprises (MSMEs) across the country by the end of June 2024. Already 350, 000 MSMEs have been impacted.
Beyond skills, these businesses require business mentorship and access to market and finance opportunities – through effective collaboration the initiative aims to address all these needs in a holistic manner, facilitating opportunities, for example, to receive debt financing, equity investment and grants.
And by tapping into the distribution networks of multi-national corporations, the opportunity for strategic alliances to reach vast numbers of SMEs across the continent is significant. A recent partnership between Orange and Microsoft aims to accelerate the digitisation of small businesses in Africa by leveraging the telco’s formidable network to provide SMEs with access to Microsoft solutions such as Microsoft 365, Copilot, Azure, and Dynamics 365.
Similarly, the FAST Accelerator programme, which was launched together by Flapmax and Microsoft, helps startups scale rapidly and access new growth opportunities by bringing together cutting-edge technologies and business development strategies. Accelerators such as these with vast resources at their disposal are experiencing considerable success in helping startups like Zen Dawa to scale. In fact, with the support of the programme, the company now plans to dramatically extend the number of pharmacies it services from 520 to 10,000 by the end of the year.
The more Africa can produce successful collaborations such as these, the more we’ll start to see a greater number of small businesses emerge as powerful economic contributors. These strategic partnerships hold the key to unlocking immense potential across sectors, empowering entrepreneurial ventures to drive new digital solutions to long-standing challenges and creating a ripple effect that reverberates throughout the continent
News
NERC says World Bank will Crash Solar Tariff in Nigeria
The Nigerian Electricity Regulatory Commission (NERC) has said the World Bank will soon be executing a solar auction framework that will reduce the cost of solar tariff in Nigeria.
The Head of the Renewable Energy/Corporate Planning and Strategy, NERC, Engineer O. Jonathan stated this during a webinar competency centre renewable series of the Major Energies Marketers Association of Nigeria (MEMAN).
He said: “We are having some challenges which have to do with integrating the solar energy into the national grid. Those challenges, many commissions, have come to the aid of the commission.
“World Bank presently is bringing out a solar auction framework. That solar auction framework, once it commences, it will allow the developers and the cost of solar tariff will go down.
“That is the essence of the solar auction. It will open the space for all the contractors in Nigeria to be in it.
“In financing and investment, the World has outlined how they will support in the distribution and transmission segment, not in the generation.”
Head Supply, HSEQ, and Technical at MEMAN in a communique made available to journalists on Friday remarked on the importance of the workshop in advancing Nigeria’s energy transition agenda. The workshop was titled: “Energy transition through solar energy.”
Permanent Secretary, Lagos State Ministry of Energy and Mineral Resources, Engineer Abiola Kosegbe, said there is a deficit in the energy needs of Nigerians and Lagos State residents, in particular.
She stated that Lagos State has set an ambitious target to generate 50% of its electricity from renewable sources by 2030, with initiatives like the “Solar for All” program playing a crucial role in achieving this goal.
She stressed the need for continued investment in infrastructure, supportive policies, and collaboration to sustain the growth of renewable energy in Lagos and across Nigeria.
Kosegbe said: “Advancement of renewable technologies and the transformative potential for the energy sector. We know that there is a deficit in the energy needs of Nigerians and in Lagos State, in particular. That cannot just be over-emphasised.
“We stand on a new era of advancement in renewable technologies. We need to fill the gaps that we are faced as we are in Nigeria today. Solar, wind, hydro, bioenergy are not just alternative sources.
“They are becoming the backbone of sustainable energy future. Innovations in this fields are driving efficiency, reducing costs and unlocking new possibilities.
“Focusing on solar power, for example, recent breakthroughs in the energy storage are dramatically increasing solar efficiency and making it more accessible than ever.
“Wind energy too, has seen remarkable strides with development of larger more efficient turbines and offshore installations that harness stronger and more consistent winds.
“For Lagos State we have set an ambitious renewable energy target. We are aiming to generate 50% of electricity through renewable sources by 2030. Solar energy is leading the charge with Lagos state government launching initiatives like Solar for all programme, providing affordable solar energy solutions for homes and businesses.
“In Lagos State today, we have seen the solar energy adaption grow by 200% in the last two years.
“The advancement in renewable energy technologies are not just shaping the future of energy, they are defining it, with continues innovation and dedication, we have the opportunity to create energy sector and in deed a society that is clean, resilient and sustainable for generations to come.”
Dr. Mustapha Abdullahi, Director-General, Energy Commission of Nigeria, said both the federal and state governments need to commission and adequately fund national research programmes on specific solar solar photovoltaic (PV) component aspects so that it will enhance the localization of some percentage of technology in Nigeria.
His presentation which focused on advancing solar photovoltaic (PV) technology in Nigeria, was delivered by the Director, Renewable Energy Department, Sulu Bolaji Fulani Ibrahim.
He stated that solar PV holds immense potential to transform Nigeria’s energy landscape, with applications ranging from home systems to large-scale utility projects.
According to him, there is a critical need to adopt the latest solar technologies to ensure cost-effectiveness and value for money.
He underscored the importance of policy documents such as the National Energy Policy and the Renewable Energy Action Plan in guiding the development of solar energy.
He added that the strategic use of Nigeria’s mineral resources, such as lithium, is crucial for supporting local content and driving the renewable energy industry.
He said: “We need do to have parameters for assessment so that we have value for money. This is for cost effectiveness. We also have to look at the technology readiness level and the local content of the solar PV technology.
“For technology readiness, most of the solar PV components we are using in Nigeria today are at the highest meaning that technology is matured. For local content, we have minerals that are key to energy transition.
“One of them is lithium. So we need to take advantage of the minerals reserves that we have. We need to develop the local content.”
News
Kaspersky Takes Part in the Development of the New ISO/IEC Standard for IoT Devices
From smart watches and digital assistants to connected cars, web-enabled Internet of Things (IoT) devices and technologies are transforming daily life and industry.
To ensure the integrity and safety of IoT systems, Kaspersky experts are contributing to the development of a new International Organization for Standardization (ISO) standard for IoT devices: “ISO/IEC TS 30149 Internet of Things (IoT) – Trustworthiness principles”.
This standard is being established in collaboration with experts from the Joint Technical Committee 1 between ISO and International Electrotechnical Commission (IEC).
The standard sets out the factors making IoT devices safe and trustworthy, analysing the relations between unconditional trust and assured system dependability, formalising the general concept of trust.
With the complexity of today’s IoT solutions and increasing sophistication of cyberattacks targeting these devices, having a technical understanding of solutions is crucial for mitigating the inherent risks of these products.
Kaspersky perceives trust as a concept to ensure all relevant stakeholders understand the specific trust elements of an IoT solution, and any potential risks in their given use case.
Developed over the last five years, the standard sets requirements for the trust of cyber-physical systems, including various devices and systems of IoT and industrial Internet of Things (IIoT). The standard defines a complex and ambiguous concept of trust, as well as principles for building and managing trust in the system life cycle.
The document also describes principles for IoT system trust management and building trusted systems, with the standard annex containing best practices for IoT system trustworthiness.
They include participative (stakeholder-based) approach, trustworthiness characterisation method, system maturity models, and impact assessment, among others. The annex also specifies a trustworthiness view that covers practical aspects of assuring the quality and security of IoT system usage.
The document standard regulates the principles of trust in terms of reliability, security, information security, personal data security, and robustness in the face of attacks. It outlines principles for building and managing trust and confidence in IoT and IIoT systems throughout their life cycle, considering both the informational and physical aspects.
Ekaterina Rudina, Security Analysis Group Manager at Kaspersky, noted: “The operation of IoT systems is a serious process that should be secured on both cyber and physical levels. The trustworthiness of these systems is a key factor for developers and users.
“We are always committed to creating the highest security standards and constantly work on sharing our global expertise. It’s encouraging to see how the international expert community continues to work and to make significant progress in this area.”
News
Family of Detained Binance Executive, Raises Alarm Over Deteriorating Health, Rights Violations in Nigerian Custody
Family of Tigran Gamabryan, a Binance executive who has been detained by the Nigerian government, has raised serious concerns about his deteriorating health and the alleged violation of his rights as he approaches six months in custody.
Gamabryan, who has been in detention since February 26th, 2024, is reportedly suffering from severe health issues, including a herniated disc and spinal injury, which have left him unable to walk.
According to a statement released by his family on Tuesday, the prison authorities have refused to provide Gamabryan with a wheelchair, forcing him to remain bedridden. This has resulted in muscle atrophy, requiring him to take blood thinners to prevent blood clots. His condition they said, has worsened over time, and he has also suffered from malaria, double pneumonia, and now severe tonsillitis, which reportedly requires surgery.
The statement also revealed that Gamabryan’s legal team has also faced significant challenges in accessing him.
“From July 26th to August 14th Tigran’s legal team were denied entry to visit him in prison – with no explanation – which is against the Nigerian constitution and the governing laws of the prison in which he is being held.
When the team was allowed to visit him (after it was made public that they had been denied entry), they were only allowed a 5 minute visit which is insufficient time to prepare for his trial, in contravention of the Nigerian constitution (Chapter 4 section 36, subsection 6b). Since then they have been denied entry again.”
The U.S. Embassy, which has been involved in the case, no longer has access to Gamabryan due to his inability to walk to the visitor area.
His family has also expressed concern that his health will continue to deteriorate without proper medical care.
Gamabryan’s detention began under controversial circumstances. He was invited to Nigeria by the government for a meeting and was assured of his safety.
However, during the meeting, his passport was confiscated, and he was taken to a “guest house” where he was held for nearly a month before being formally charged. The Nigerian authorities initially informed the American Embassy that Gamabryan was staying at the guest house willingly.
He was eventually moved to Kuje prison after charges were brought against him by the Nigerian Economic and Financial Crimes Commission (EFCC). The EFCC prosecutor reportedly stated that Gmabryan was being charged because Binance operates virtually, and he was the only individual they could hold accountable.
“Tigran was invited to Nigeria by the Nigerian government for a meeting and was given assurances that he would be safe. However, during the meeting his passport was taken and he was made to pack his items from the hotel and was taken to a “guest house”.
“After he was detained by them, the Nigerian authorities told the American Embassy that Tigran was staying at the guest house willingly.
Tigran was held for almost one month in this guest house before two sets of charges were brought against him and Binance and Tigran was moved to the infamous Kuje prison. According to the Nigerian EFCC prosecutor, Tigran is being charged because, “The 1st defendant (Binance) is operating virtually. The only thing we have to hold on to is this defendant.”
In addition to the charges from the EFCC, Gamabryan was initially facing tax evasion charges brought by the Nigerian Federal Inland Revenue Service (FIRS). These charges were dropped on June 14th, with the FIRS agreeing to pursue the charges against Binance through a locally-appointed representative.
The trial for the remaining charges began on May 17th, with Binance offering to appoint a local representative. Cross-examination of the witnesses has started, but the court went on recess until October. However, an application to hear the case during the recess was granted, and the next hearing is scheduled for September 2nd.
Despite repeated court orders, the Nigerian authorities have refused to release Gamabryan’s medical records to his legal team and the U.S. Embassy. In response, the judge presiding over the case issued a bench warrant for the arrest of the Nigerian prison doctor.
Gamabryan has reportedly missed several significant milestones while in detention, including his son’s 5th birthday, his own 40th birthday, and his upcoming 15th wedding anniversary.
His family continues to plead for his release, citing the severe toll his detention has taken on his health and the violation of his legal rights.
- Telecom2 days ago
Glo Introduces Instalment Payment Scheme for Purchase of Smartphones
- E-Financial2 days ago
FintechNGR, Africa Fintech Network Call for Enhanced Collaboration and Innovation on Cross-Border Payments and Remittances
- Uncategorized1 day ago
FG Unveils Committee to Advance Risk Management in Nigeria
- E-Financial2 days ago
Fidelity Bank Trains 1,276 Women in Digital and AI Skills
- Telecom2 days ago
Here’s Your Last Chance to Secure Discounted Starlink Kits @ Konga
- Telecom2 days ago
QNET Reaffirms Commitment to Adhere to Ethical Practices, Local Laws & Regulations
- News1 day ago
NERC says World Bank will Crash Solar Tariff in Nigeria
- Telecom2 days ago
NDPC Boss Inaugurates Local Organising Committee for 2025 NADPA-RADPA Conference