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Africa in Danger of Digital Disruption- Ekeh

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Serial digital entrepreneur and Chairman of Zinox Group,  Leo Stan Ekeh has raised the alarm over an impending digital disruption in Africa occasioned by the challenges of mass unemployment and the failure of most African states to match the rapid pace of digital evolution.

He made this call during a breakfast talk with select entrepreneurs from Africa and Asia in Dubai Marina on Sunday.

Ekeh, a renowned digital enthusiast and global advisor to Microsoft, disclosed that Africa has barely 13 and a half years to avert the impending disruption which may throw the continent into the proverbial Dark Ages.

“19 years ago, I had warned on the need for Nigerians and Africa, as a whole, to wake up from a self-imposed slumber and follow the pace of digital evolution. How? By creating resources that will empower more ventures for employment of our teeming youthful population. This is essential because the rise of computing and the coming age of super-computers is bound to take many jobs away while making others redundant.

“This warning was largely unheeded as only a few paid attention. As at today you have over A million high tech incubation centers in Asia alone while Africa has less than 500 and must of them less equipped and politically driven. But we are beginning to see the consequences today.

Unemployment is rife and has transformed into a major problem confronting many African economies with no concrete solution in sight. With the global pace of advancements in ICT, the situation is bound to worsen. Many more hands and jobs will be displaced by technology and the failure to expand and create more industries to accommodate these losses will be felt more harshly,” he posited.

Ekeh’s position was echoed in a recent presentation by Luc Cortebeeck, Vice-President, Governing Body of the International Labour Organization (ILO) who mentioned new technology as one of the major challenges facing the future of work. Cortebeeck disclosed that the world is suffering an official unemployment rate of 210 million people, with an estimated 600 million extra jobs needed to fill the gap by 2030.

According to Ekeh, Africa has a limited period of time in which to act to avoid being left behind by the rest of the world.

“A major digital disruption will happen in Africa 13 and half years from today. Last year, we had about 15 years left but it is now 13 and a half years for this disruption to climax for those not prepared. The signs are already here. Internet of Things is progressing at a high speed; major countries are investing in robots and what I regard as digital oracles such as IBM Watson, and others to replace humans in many areas of endeavour including law, warehousing, factories, medicine, security, traffic control etc.

“The major concern for Africa is that this might cause a revolution as investors will have no choice than to prefer robots for example over humans to run their operations. Remember, robots are not dumb and deaf; they do not go to church, night vigils, mosques or village meetings; they don’t belong to labour unions and social clubs, do not technically fall sick and only require servicing every 37 days; hence more productive than humans.

“In my hunger to anticipate and prepare for the future, I lost millions of dollars with other investors from Europe and Middle East in Asia last year in our research on advanced technology but please note that, many others with critical infrastructure at their places of birth are succeeding.  Mine was a focus on solutions to avert disaster that could erupt in my country not too long from today. We lost money as a result of the lack of certified research incubators and credible local database of certified knowledge workers in Africa.  A lot of us had to engage in research in Asia to find solutions to advanced technology and robotics because of their hunger to lead the world from the second quarter of this century.

“If Africa does not prepare for robotics, the continent will be completely displaced by quality goods from Asia and other continents at cheaper prices. As we speak, Google and Tesla are making huge progress with the assembling of driver-less cars using robots while advancing in technology for remote charging of electric cars – a move that will radically change the way we live, commute and completely eliminate the use of petrol and drivers. In another 10 years, most corporates will deploy these cars without drivers and zero fuel which shall drastically reduce the cost of doing business and shareholders will celebrate their management. 

The question then is: who will purchase tech products coming out from Africa in a few years’ time since these will be considered sub-standard and too expensive?”

While urging the participating entrepreneurs not to lose hope, he noted that the sweeping digital upheavals is a learning curve for them.
 
“Most of you from Asia may be partially disrupted but you have the tact to realign. However, my biggest fear is for most African countries whose leaders and private sectors are not anticipating a light-weight but wealth filled future. It will be a disaster to deny their citizens the right to wealth which is the core strength of this century in which no one is created by God to be poor.

“For those of who are Nigerians, some of you migrated to the UAE and Asia for survival but you must enhance you profile with skills to anticipate the future. You have earned exposure and a level of confidence but you must quickly skill up and return home to lead those of us with analogue businesses and mentality. It is clear that any company that would survive in the third quarter of this century must be a technology company: hotels, airlines, banks, etc. shall all transit to technology companies. 

“In spite of the depressed economy, we have globally celebrated corporate giants in Nigeria such as the Dangote Group, Globacom, just to mention a few, so there is no better time to start thinking of bringing home digital civilization.  Consider the booming youthful population, growing sophistication and literacy levels, desire to live well and lifestyle patterns –  these are major factors that make Nigeria the best place to invest in and reap bountifully.

“Do not be discouraged by the number of billionaires in the system but wake up to the opportunity to create legitimate mega wealth. In Nigeria, these opportunities are limitless as I started there from zero to become somebody today. My story shall be documented soon,” he concluded.


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Nigeria CommunicationsWeek believes that technology makes life more exciting and helps improve the lives of people around Nigeria and indeed the world. So since 2007, we have devoted our energy to independent reportage of technology and how they affect lives.

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Confronting the Google Monolith: Survival Strategies for Online Businesses

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By Reuben Kalu.

In the vast expanse of the digital realm, Google looms large, an omnipresent force shaping the way we navigate, search, and conduct business online.

From its humble beginnings as a search engine to its current status as a multifaceted tech behemoth, Google has entrenched itself deeply into the fabric of the internet.

Its influence is undeniable, its reach unparalleled, and its ubiquity seemingly inescapable. But can you truly run an online business without Google?

The answer, in today’s digital landscape, is a resounding no. You have no choice.

Google’s dominance extends across multiple facets of the online world, making it virtually impossible for businesses to thrive without engaging with its ecosystem.

From search engine optimization (SEO) to online advertising, email services to analytics, Google’s suite of products and services permeates every aspect of the online business landscape.

Attempting to operate without Google is akin to swimming against a relentless tide, fighting an uphill battle fraught with obstacles and limitations.

At the heart of Google’s influence lies its search engine, the gateway through which billions of internet users navigate the vast expanse of online content. .

Google’s search algorithms wield immense power, determining which websites rank prominently in search results and which languish in obscurity.

For businesses seeking to attract organic traffic and expand their online presence, optimizing for Google’s search algorithms is not merely advisable—it’s imperative.

But Google’s influence extends far beyond search. Consider Google Ads, the company’s advertising platform that enables businesses to reach targeted audiences through paid search, display, and video advertising.

With billions of searches conducted on Google each day, Google Ads provides unparalleled reach and visibility, allowing businesses to target potential customers with pinpoint accuracy.

Attempting to compete in the online advertising arena without leveraging Google Ads is akin to entering a battle unarmed—a futile endeavor destined for failure.

 

Moreover, Google’s suite of productivity tools, including Gmail, Google Drive, and Google Workspace, has become indispensable for businesses seeking to streamline their operations and enhance collaboration.

With seamless integration across devices and platforms, Google’s productivity tools offer unparalleled convenience and efficiency, empowering businesses to work smarter, not harder.

Attempting to eschew Google’s productivity suite in favor of alternative solutions is not only impractical but also unwise, depriving businesses of the tools they need to succeed in today’s fast-paced digital landscape.

Furthermore, Google Analytics stands as the gold standard for web analytics, providing businesses with invaluable insights into their online performance and audience behavior.

From tracking website traffic and user engagement to analyzing conversion metrics and customer demographics, Google Analytics offers a comprehensive toolkit for optimizing online marketing strategies and driving business growth.

Attempting to gauge online performance without leveraging Google Analytics is akin to flying blind, devoid of the critical data needed to make informed decisions and drive meaningful results.

But perhaps the most formidable aspect of Google’s influence lies in its role as a gatekeeper of information and access.

With billions of users relying on Google’s platforms and services each day, the company wields immense control over the flow of online traffic and the dissemination of information.

For businesses seeking to connect with customers and expand their reach, Google’s dominance presents both a tremendous opportunity and a formidable challenge.

Attempting to circumvent Google’s influence and establish an online presence independent of its ecosystem is a Herculean task, fraught with uncertainty and risk.

In essence, attempting to run an online business without engaging with Google is akin to swimming against a relentless tide, fighting an uphill battle fraught with obstacles and limitations.

While alternative platforms and solutions exist, none possess the ubiquity, reach, and influence of Google’s ecosystem.

To thrive in today’s digital landscape, businesses must embrace Google’s dominance and leverage its suite of products and services to their advantage. You have no choice.

In conclusion, Google’s pervasive influence permeates every aspect of the online business landscape, making it virtually impossible to escape its grasp.

From search engine optimization to online advertising, productivity tools to web analytics, Google’s ecosystem encompasses a vast array of products and services that have become indispensable for businesses seeking to succeed in the digital age.

While alternative solutions may exist, none possess the ubiquity, reach, and influence of Google’s ecosystem.

To thrive in today’s digital landscape, businesses must embrace Google’s dominance and leverage its suite of products and services to their advantage.

You have no choice.


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Hydrogen Hosts Catalyst Workshop, Highlights Resilient Business Models for Fintech Startups

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As part of its mission to empower African businesses with tools needed to thrive, garner admiration, and foster global acclaim, leading payment solution company, Hydrogen Payment Services Company Limited (Hydrogen), recently partnered with the Co Creation Hub (CcHub), to host the latest edition of the Catalyst workshop in Lagos.

The discourse addressed the potential risks and opportunities for startups and saw experts advise participants on the need to develop resilient business models that would scale across different economic climes.

Moderated by Miracle Ezechi, Digital Marketing Manager, Hydrogen, the panel session addressed dominant issues about the theme: ‘Adapting Fintech Business Models to Economic Climes: Flexibility, Agility and Customer-centricity’.

Mr. Emeka Awagu, Chief Technology Officer, Hydrogen, who spoke as a panellist, addressed the issue of customer-centricity, which according to him, is key to Fintech growth.

He advised startups to listen to customer demands and understand their needs in order to develop the right solutions that will lead to long term market viability.

“Innovation is key for startup growth. However, understanding customers’ needs and change in behaviour will help any startup to innovate better.

“Startups must be flexible and agile to develop solutions with high interoperability and processing speed, and they must be ready to learn from startups that have failed,” Awagu said.

With an estimated 61.07 percent of startups failing, the participants stressed the need for prudence.

“Statistically, a staggering number of startups fail, often due to financial mismanagement. Hence, founders must prioritise understanding and maintaining a healthy the Cost-to-Earnings ratio.

“It is not just a number, but a pivotal indicator of a company’s financial health as well as being a key attractiveness determinant for investors,” Awagu added.

On his part, Ina Alogwu, the Group Director, Digital Transformation, ARM HOLDCO, who also spoke as a panellist at the session, stressed the need for startups to develop sustainable products and solutions that will help them remain competitive in an environment that is faced with harsh economic realities.

“Many startup businesses fail within their first five years, however upcoming startups should not be discouraged, rather develop a culture that will encourage them to understand the reasons for failure and learn from mistakes.

“Startups should not be too rigid with their solutions and should be ready to accept changes that will drive innovation,” Alogwu stated.

Hydrogen will be deepening its economic impact series with a webinar planned for Thursday, April 25, even as businesses across Africa continue to face an array of challenges, ranging from inflation and currency fluctuations to rising operating costs.

Themed ‘Navigating Economic Challenges: Strategies for Sustainable Growth,’ the webinar will delve into key areas critical for businesses to not only survive but thrive in the face of economic adversity. Register using this link – https://bit.ly/Hydrogenwebinar.

Esteemed panellists for this event include Taofik Odukoya, CEO, Vanguard Pharmacy, and Okechukwu Odimgbe, Chief Financial Officer, Hydrogen. The session will be moderated by Nnenna Sam-Obioha, Ecosystem Orchestrator, Hydrogen.

 


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Dexude Secures Funding to Revolutionize Education in Nigeria, Beyond

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Dexude, a leading edtech platform with operations in Nigeria, has announced that it has been awarded the prestigious Business Finland TEMPO funding.

Dexude Secures Funding to Revolutionize Education in Nigeria, Beyond

Charles Emembolu, founder of Dexude,

This significant funding injection marks a pivotal moment in Dexude’s journey towards transforming education through its AI-powered, live-first, expert-led, and community-driven platform.

The Business Finland TEMPO funding is specifically designed to support startups and SMEs aiming for international growth by building their expertise and solutions into international success stories in innovative ways.

Dexude’s commitment to innovation, coupled with its vision to enable a billion learners worldwide, aligns perfectly with the objectives of the TEMPO funding.

Commenting on this milestone achievement, Charles Emembolu, founder of Dexude, remarked, “We are incredibly honored and excited to receive the Business Finland TEMPO funding. This funding is not only a validation of Dexude’s mission to reinvent education but also a testament to the hard work and dedication of our team. With this support, we are poised to accelerate our efforts in democratizing access to quality education and empowering learners across Nigeria and beyond.”

L-r; Kelvin Chikezie, co-founder of Dexude; Kashifu Inuwa Abdullahi, Director-General/CEO of the National Information Technology Development Agency (NITDA); and Charles Emembolu, founder of Dexude

Kelvin Chikezie, co-founder of Dexude, added, “Securing the Business Finland TEMPO funding is a significant milestone for Dexude. It underscores our commitment to leveraging technology and innovation to revolutionize the way people learn and grow. We are grateful to Business Finland for believing in our vision, and we are excited to embark on this next chapter of Dexude’s journey.”

Dexude is on a mission to redefine education by providing learners with access to influential experts and thought leaders, live interactions, and a vibrant community-driven learning experience.

Through its platform, Dexude aims to break down barriers to learning and empower individuals to pursue their passions and unlock their full potential.

 

 

 

 


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