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CFA Startups Hangout Holds October 20

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By Justice Okembga

The October 2017 edition of CFA’s Startups Hangout is scheduled to be held on Friday, October 20, 2017 by 5:00pm.

An initiative of the CFAtech.ng brand, CFA’s Startups Hangout, is as a free event, where successful businessmen and women are invited to meet with Startups, who learn from them, success nuggets and pitfalls to avoid, so they can effectively run, grow and scale their businesses too,  as well as network other Startups with a view for synergy.

The Vice-Chairman, 21st Century Technologies, Wale Ajisebutu, is scheduled to speak at the event. He will be divulging the experiences he garnered on his path to success in business to the attendee Startups at the event.

Wale Ajisebutu is a Chartered Accountant by training. He ventured into the Telecommunications industry after a stint in trading.

His company, 21st Century Technologies, was incorporated in in 1997 and began operations in 1999. Today, 21st Century Technologies has evolved into a major player in the Telecommunications industry.

His clientele includes some of the largest Multinationals, Oil and Gas firms, Hotels as well as several blue chip organisations, not just in Africa, but across the world.

He is a perfectionist and gentleman to the core, who believes that Nigerians can build great companies and this is a vision he is working hard to achieve.

Past editions of the hangout had featured prominent successful Nigerian Entrepreneurs, such as Austin Okere, Founder, CWG, Banke Alawaye, Country Manager, Praekelt, Chinenye Mba-Uzoukwu, CEO, InfoGraphics, Afolabi Abiodun, CEO, SB Telecoms and Devices, Bolaji Finnih, CEO, TechPreneur Africa and Ommo Clark, CEO, iBez Solutions. Nadu Denloye, PhD, Co-Founder of Telnet and Director,CDNet, Deepankar Rustagi, the Co-founder, VConnect, Adeoye Abodunrin, ED,Xpos Technologies, Simeon Ononobi, Co-Founder, MyAdsGlobal, Helen Anatogu, CEOand Founder, iDea Nigeria, and Yele Okeremi Founder of Precise Financial Systems and others.

The October 2017 edition of CFA’s Startups Hangout will be powered by TAMS and Remita.

We appreciate our sponsors and also count on the active support of more brands for the future Monthly Editions of this selfless mission to help many Nigerian Startups to learn, grow and sustain their businesses for the development of the Nigerian Entrepreneurial ecosystem in particular and the Nigerian economy in general.

We also appreciate our media partners, Guardian Tech, Nigeria CommunicationsWeek, Connectnigeria, ITPulse and cfatech.ng, for their unflinching support in sharing this rare opportunity to learn from successful Entrepreneurs to our numerous Startups.

Limited seats are available, hence, you need to register early, to book for a seat at the event.

You can register for the October 2017 edition of CFA’s Startups Hangout @ http://startups.cfatech.ng

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Sanitise Economy, Curb Debtors Via Technology, Ekeh, Zinox Boss

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Leo Stan Ekeh, serial digital entrepreneur and chairman, Zinox Group

Leo Stan Ekeh, Africa’s leading technology entrepreneur, has charged the Federal Government to leverage technology in reducing to the barest minimum the growing incidences of corporate debts and usher in an era of unprecedented boom and sanity in the Nigerian economy.

 

He made this assertion while delivering the Guest Lecture at the maiden edition of the 2018 Nigerian Online Merit Awards (NiOMA) held in Lagos recently.

 

Ekeh, chairman of the Zinox Group, who disclosed that technology will resolve much of the contemporary problems facing the Nigerian state if holistically applied, noted that the country will benefit immensely if the government turns to technology in its search for lasting solutions to the challenges confronting the economy.

 

According to Ekeh, the recent revelation by the Asset Management Corporation of Nigeria (AMCON) that, about 350 Nigerians account for 80 per cent of its N5.4 trillion debt portfolio and the refusal of majority of these debtors to liquidate their indebtedness is an issue that can be easily resolved through the application of technology if there exists accurate data of how these debts arose.

 

In his opinion, it could also be that the government at different levels are partially responsible for some these debts, especially if they were unable to meet their obligations to some of these corporates.

 

Ekeh acknowledged that the present debt profile should be a case study for upcoming entrepreneurs or part of the issues to be dissected by data analysts on why some of these businesses failed, noting that this may also reveal a lot of insider compromises on the part of the lenders so that sincere lessons could be learnt and better structure and systems put in place to avert a recurrence.

 

“Working in concert with the Nigeria Inter-Bank Settlement System (NIBSS), the Central Bank of Nigeria (CBN), Attorney General of the Federation and the Economic and Financial Crimes Commission (EFCC) for enforcement purposes, AMCON can leverage a simple technology application that makes it easy to access the bank balances of debtors across all the various banks in Nigeria. This will be a mandatory requirement for the extension of loans and credit facilities and will foster more responsible borrowing as the lenders can easily debit the accounts of borrowers upon due date to recover sums extended.

 

“This will not only reduce the growing profile and negative trend of corporate debts, with its attendant detrimental effect on the economy but will also expose many Nigerians who are publicly hailed as billionaires but who are only living large off depositors’ money, while frustrating further lending to start ups,” he stated.

 

Disclosing the many ways he has relied on technology to ramp up efficiency in his various businesses and simplify complex processes, Ekeh revealed that by next week, he would be trying out a new Enterprise application that will simplify transaction with bankers, irrespective of the numbers.

 

“This application will give us control over all of our bank accounts instead of relying on bank staff to implement our instruction at their convenience.”

 

He also disclosed that the new warehouses widely reported as recently acquired by e-commerce giant Konga were equipped with digital cameras with data analytics and artificial intelligence capabilities which can easily detect fraud and random inconsistencies such as a change in the appearance of an individual or item captured on entry into the facilities. Most importantly, these cameras are cloud based.

 

Urging the government to commit more resources to technology in resolving the unemployment challenges and drive the nation towards rapid development, Ekeh cited the influence of technology in the political space which has reduced post-election litigations from 87% to about 33%, noting that this will further reduce to 11% or thereabouts with the adoption of electronic voting, if funded by the government.

 

“Technology does not lie; it is either you are right or wrong. With technology, you can do unimaginable things. You don’t even need to go through the four walls of a University to acquire quality education,” Ekeh enthused.

 

The Zinox Chairman who spoke on the theme – Leveraging the Internet Revolution to leapfrog Nigeria’s development – affirmed that Information Technology will disrupt the Nigerian economy positively by the year 2023, creating immense opportunities and new wealth for many Nigerians.

 

Noting that this will happen irrespective of the status of leadership at the helm of affairs in the country, Ekeh urged attendees at the event to prepare for the coming disruption.

 

While appreciating the organizers and Publisher of News Express, Mr. Isaac Umunna, Ekeh who received the ICT Icon of the Year award at the event also seized the opportunity to recognize the media for the long years of support in spreading the ICT gospel, even as he declared his intention to stand down from participation at many of such future events in order to allow the younger generation and his son, Prince Nnamdi Ekeh, founder of Yudala to take the stage as he believes they have better global education and exposure to lead the nation to the digital promised land.

 

Among dignitaries in attendance at the event was former Executive Vice-Chairman, Nigerian Communications Commission (NCC), Dr. Ernest Ndukwe who chaired the event; Lagos State Governor, Akinwunmi Ambode represented by the Commissioner for Information and Strategy, Kehinde Bamigbetan; Publisher of the Guardian Newspapers, Mrs. Maiden Ibru; former Vice-Chancellor, Obafemi Awolowo University and Chairman, Editorial Board of the Guardian, Prof. Wale Omole and Editor, Vanguard Newspapers, Mr. Eze Anaba, among others.

 

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Mobile Operators Commit to Common Approach to IOT Security

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The GSMA has announced that global mobile operators have committed to adopt and implement the GSMA IoT Security Guidelines.

The guidelines outline best practice and recommendations for the Internet of Things (IoT) security for the entire IoT ecosystem and set out a comprehensive security assessment scheme to help ensure IoT services are protected against IoT security risks. There will reach 3.1 billion IoT connections by 2025, according to GSM A Intelligence.

“For the IoT to flourish, the industry needs an aligned and consistent approach to IoT security. Our guidelines encourage the industry to adopt a robust set of best practices that will help create a more secure IoT market with trusted, reliable services that can scale as the market grows.

“The mobile industry has a long history of providing secure services in licensed spectrum and by implementing these guidelines, we can help ensure the long-term sustainability and growth of the market,” commented Alex Sinclair, Chief Technology Officer, GSMA.

The GSMA IoT Security Guidelines are targeted at IoT service providers, device manufacturers, developers and mobile operators and provide best practice for the secure end-to-end design, development, and deployment of IoT solutions across industries and services.

They address typical cybersecurity and data privacy issues associated with IoT services and outline a step-by-step process to securely launch solutions to market.

They are supported by an IoT Security Assessment scheme that provides a checklist to support the secure launch of IoT solutions into the market and keep them secure throughout their lifecycles thereby creating a sustainable IoT ecosystem that is designed for end-to-end security.

Both the GSMA IoT Security Guidelines and IoT Security Assessment also cover the fast-growing Low Power Wide Area or Mobile IoT technologies, LTE-M and NB-IoT.

 

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BoICT Explains Why Glo Won Most Innovative Award

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Organisers of the Beacon of ICT Awards, Communications Week Media, have said that Globacom won the Most Innovative Player Award at the 2018 edition of the awards because it pioneering most of the innovations in the nation’s telecoms industry.

Giving the explanation while presenting the awards to Globacom,  Ken Nwogbo, Editor-in-Chief and Chief Executive Officer of Communications Week Media, reiterated  Globacom’s consistent role as the pioneer in Nigeria’s telecom space in the area of innovation and service quality.

According to him, “Glo has remained consistent in pioneering most of the innovations we have in the telecoms industry today, both in voice and in data services.

Glo Café, Borrow me Data, Campus Booster, E-top Up and Easy Share are among the recent products which have offered unparalleled experience for telecom subscribers on the Glo network. Many of the respondents who took part in the poll said this was why they voted for Glo as the Most Innovative Mobile Player”.

Nwogbo further explained that winners in the various categories were decided by readers of Communications Week in an online survey conducted by the magazine from November last year to March 15, 2018.

The Beacon of ICT Awards was instituted to reward the vision and efforts of individuals and companies that have contributed to the growth of the ICT industry in a particular year.

The main objectives of the awards are to evaluate and recognize standards of excellence in the country’s quest for growth and development in the use of ICT and to ensure that ICT professionals are provided a basis for recognizing and validating outstanding contributions.

 

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