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June Edition CSH: Driving Business Operations with Digital Technology

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Serial entrepreneurs who spoke at the June Edition of CFA’s Startups Hangout (CSH) believe that the application of digital technology will successfully drive business operations and make positive impact of Return on Investment.

“There are tons of software and digital tools you can use to simplify your business operations,” says Deepankar Rustagi, the Co-Founder of VConnect while speaking at the June 2017 Edition of CFA’s Startups Hangout.

He explained that with digital tools, it would be easy for businesses to track and measure their marketing goals, while also seeing the results. 

“We live in an age where technology thrives and for businesses to cope with that pressure, businesses must start using digital tools, the VConnect boss said.

As businesses continue to spring up, with only about 3% scaling past the fifth year, according to studies, non-accessibility and inadequate online presence are amongst the challenges contributing to failure.

“97% of businesses do not exceed the fifth year in operations and that’s an issue of concern,” he says.

He charged entrepreneurs to have an accessible online presence, build a realistic digital strategy to beef up operations, connect with customers and prospects.

“When you build strong visibility and make your business accessible, you are making entry for new customers to patronise you.

Added to that, is product or service differentiation, he said. ” You need to make your product or service positively different from what is conventionally obtainable.

He said there should always be a reason for a customer to patronise any business, adding that a positive difference in what a particular business offers will be of value.

Continuing: he explained that lead generation and proper targeting of prospects are essential for any business that needs to survive.

He tasked Startups to identify their target market properly and use digital tools to target them, at the same time generate leads for nurturing.

“The Nigerian market is big enough to accommodate every player, and it is imperative to understand that each business has it own target market. It is not necessary to target all the market,” he said.

According to Dr. Nadu Denloye, Co-Founder, Telnet, the current technology disruption has changed business model today and those who are keeping up with the pace by adopting digital technology will be afloat.

She gave a chronological account of her journey in entrepreneurship and charged Startups to borrow a leaf from what she did right and jettison the things she did wrong.

Nadu explained that one of the lessons she learnt is that, individuals or people are critical factors to running a successful business.

“When you have people around you, discuss and be open to ideas from them, they are the ones to help you move your business forward.

The Telnet boss mentioned that, self awareness was critical during her days of running the business.

“I wasn’t a creative person in my early days of running business, I understood my weaknesses and strength. When you discover yourself it becomes easier for you in business.

Nadu charged Startups not to underestimate the early days in business, although the early days may have its obstacles.

She explained that it’s not going to be an easy road for entrepreneurs that are starting up.

“We didn’t start up in high brow areas but, we had a good location. We didn’t have plenty of cars, we started with one and it was branded. At that point we were continually investing, instead of relocating and paying dividends.” she added.

In her concluding remarks, she said continuous learning, acquisition of skills, and looking out for opportunities are also important.

Watch out for the details of the July 2017 edition of the CFA’S Startups Hangout on  https://startups.cfatech.ng/

 

 


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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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Legit.ng, Shade of Life Foundation Partner to Advance Autism Awareness in Nigeria

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Legit.ng recently joined forces with the Shade of Life Foundation to become a voice of autism, and drive advocacy for improved media support during Autism Awareness Month.

Legit.ng, Shade of Life Foundation Partner to Advance Autism Awareness in Nigeria

Participants at the event

Conversations around media support exploration was led by Joseph Omotayo, head of Department for Human Interest Stories at Legit.ng, and Dr. Eziafakaku Nwokolo, founder and CEO of the Shade of Life Foundation,

This partnership is a response to the concerns raised by organizations like the Shade of Life Foundation about the level of support received from the media in discussing autism as a disability.

While other disabilities may receive attention, autism, with its critical developmental implications often lacks adequate representation in mainstream media.

Recognizing the importance of addressing these concerns, Legit.ng took proactive steps by integrating itself into the essence of autism awareness.

It facilitated a one-hour workshop with Dr. Nwokolo, the founder of the foundation, to deepen our understanding of autism, its various spectrums, and the language boundaries associated with it.

Other steps we took in advocating autism awareness in the media, can be seen in our attached press release.

Legit.ng believes that by amplifying the voices of autism and advocating for better media representation, we can contribute to creating a more inclusive and accepting society for all.

 

 

 

 

 

 

 

 

 


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As Nigeria Struggle, Tanzania Turns off Power Plants Due to Excess Supply

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While 85 per cent of Nigeria is in darkness, Tanzania, an African country has shut down five hydroelectric stations in a bid to reduce excess electricity in the national grid.

As Nigeria Struggle, Tanzania Turns off Power Plants Due to Excess Supply

Kassim Majaliwa, prime minister, Tanzania, has said the main plant, Mwalimu Nyerere Hydroelectric Station, alone generated enough electricity to power major cities, including Dar es Salaam, the country’s commercial hub.

It is the first time Tanzania, which suffers chronic power shortages, has closed hydroelectric stations due to excess production.

“We have turned off all these stations because the demand is low and the electricity production is too much, we have no allocation now,” an official from state-run power company, Tanesco, said.

The 2,115MW Julius Nyerere Hydropower Dam is said to be almost filled with water following heavy rains that started early this year.

Meanwhile, while the country has an installed capacity of 1,938MW and the grid installed capacity of 1,899MW, Nigeria which has an installed capacity of 13,000MW is struggling to electrify 85 per cent of its electricity consumers.


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President Tinubu Appoints Jim Ovia as Student Loan Fund Chairman

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President Bola Tinubu has approved the appointment of Jim Ovia, renowned banker and businessman, as the Chairman, Board of the Nigerian Education Loan Fund.

Jim Ovia

Jim Ovia

Ovia’s appointment is contained in a State House statement titled, ‘President Tinubu appoints Jim Ovia as Chairman of the Nigerian Education Loan Fund,’ and issued on Friday by Ajuri Ngelale, special adviser to the President, Media & Publicity.

The statement noted that “Ovia is the founder of one of Nigeria’s leading banks and a respected business leader, with a surfeit of efforts and benefaction towards nurturing and empowering young Nigerians.

“He is an alumnus of Harvard Business School and holds a Master’s in Business Administration from the University of Louisiana.”

The National Student Loan Programme is a pivotal intervention that seeks to guarantee sustainable higher education and functional skill development for all Nigerian students and youths.

The Nigerian Education Loan Fund, the implementing institution of this innovation, demands excellence and Nigerians of the finest professional ilk to guide and manage.

“The President believes Mr. Ovia will bring his immense wealth of experience and professional stature to this role to advance the all-important vision of ensuring that no Nigerian student suffers a capricious end to their pursuit of higher education over a lack of funds,” the statement partly read.

Ovia’s appointment will also ensure “that Nigerian youths, irrespective of who they are, have access to higher education and skills that will make them productive members of society and core contributors to the knowledge-based global economy of this century.”


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