Telecom
2022 International Women’s Day: Ekeh, Zinox Group Remain Global Shining Examples
When over 16 years ago, a journalist had ambushed him on the sidelines of an event, Leo Stan Ekeh, Chairman, Zinox Group, had delivered what seemed back then like a prophetic announcement, but which today, is gradually proving to be true.
Ekeh had stated that women would lead by the turn of the 21st Century, with the Zinox boss disclosing that the impact of women would be felt even keener in leadership roles from the year 2026.
Coming in an era when many women were facing a glaring and deeply ingrained inequality in the workplace and society, as well as reduced access to opportunities in the political, corporate, religious and social spaces, Ekeh’s projections must have been dismissed or cast aside by many as widely off the mark.
The hard facts or data on ground were also not consistent with the submission of the serial digital entrepreneur and renowned gender advocacy enthusiast. Globally, women have for long held the short end of the stick or played second fiddle to their male counterparts on the business or political fronts and especially in the male-dominated tech space in which Ekeh operates.
Research shows that out of about 239 billion-dollar Venture Capital-backed companies around the world, less than 25 have a female founder. In other words, most billion-dollar companies are founded by men.
Also, a study by McKinsey & Company establishes that women are also grossly underrepresented in CEO positions, too, with only 4% of US Fortune 500 companies having a female CEO. Only a few or rare exceptions buck this trend. For women of color, the numbers are even more disappointing, as only 4% hold a C-suite role among US companies.
In addition, a 2018 Woman in the Workplace study reveals that for every 100 men who are promoted to manager level, only 79 women are promoted and, if we break down the data even more, just 60 black women are promoted.
Moreso, a Morgan Stanley analysis shows that between 2005 and 2014, European companies had 14% women in their boards while data from the US Census Bureau indicates that a woman makes 80.5 cents for every dollar a man earns.
In addition, the job aggregating service, Adzuna, found that only 11% of those who earn more than $100,000 per annum are female employees. The case remained sadly in the disfavour of women on the political front too, with leadership positions seemingly the exclusive preserve of the male-folk.
Yet, many years later, Ekeh returned to the inaugural edition of the Africa Fintech Disrupt Conference sponsored by Access Bank in 2018 with the same message.
At the end of a charged, impassioned speech which ended with a standing ovation from the audience at the crowded hall in the Landmark Event Centre, Oniru, Victoria Island, Lagos, Ekeh had specifically addressed the womenfolk. He had urged them to prepare to take charge, adding that the world should adjust to this coming reality which he reiterated would begin to take shape from 2026.
The Zinox boss has consistently predicted that women would take over and that a time would come when corporate organizations that had no females as CEOs or in their Executive Management cadre would be considered old-fashioned.
Specifically, he had based his faith in women as better leaders or managers in the fact that they are more financially prudent, humble, less prone to fraud, spiritually sound, better counsellors and possibly even smarter than their male counterparts of the same age – factors which he has identified as traits which make them more naturally suited for leadership.
He has also not failed in preaching and practicing the same message internally across the Zinox Group and Konga, recently transformed into a flourishing e-commerce ecosystem after its 2018 acquisition.
As the world marks the 2022 anniversary of International Women’s Day with the theme #BreakTheBias, the outpouring of support for women and consciousness of the growing roles of women in contemporary society seem to be felt even more keenly than ever, prompting another look at the insistence of Ekeh that the future belongs to the gender.
Granted, women still face severe cases of inequality and bias the world over, ranging from unequal pay, barriers to promotion, bias against mothers/nursing mothers, higher burnout/stress in women and more importantly, incidences of sexual harassment. Recently, the Nigerian National Assembly also refused assent to a couple of bills targeted at increasing women participation in the political space.
But despite it all, there is clear evidence that things are changing.
If the example of a Nigerian woman, Ngozi Okonjo-Iweala, who today, occupies leadership of a global organization – the World Trade Organisation (WTO) is not enough, it would be fitting to also acknowledge that on the political front, countries such as Germany, Greece, Denmark, Estonia, Moldova, Lithuania, Slovakia and even Liberia, here in Africa, have recently had or currently have female presidents or heads of government.
Also, Big Tech has recently enjoyed a taste of woman power with the likes of Susan Wojcicki (CEO, YouTube), Sheryl Sandberg (COO, Facebook), Virginia ‘Ginni’ Rometty (who stepped aside on April 1, 2020 after becoming the first woman to serve as Chairman, President and CEO of IBM) and Meg Whittman (now board member of Procter & Gamble and General Motors but who was previously president and CEO of Hewlett Packard Enterprise(HPE)), among many other glowing examples.
Women are now holding down more executive management or C-Level positions across the globe than ever before. More and more women are also aspiring for better education than their male counterparts.
Indeed, a recent Pew Research Center survey agrees that today’s young women are starting their careers better educated than their male counterparts, noting that as most women now get higher education than their mothers and grandmothers before them, they can bring those skills to the workplace and impact business outcomes.
Feedback from another Pew Research Centre survey shows that Americans don’t find significant differences between women and men in their ability to run a company, with numbers varying based on sector.
The survey reveals that in certain industries, women seem to have an advantage than men. Notably, 31% of those sampled think a woman would do a better job running a retail chain, while only 6% can say the same for a man.
In healthcare, 19% think a woman would be a better choice as a hospital’s manager, while less than half (8%) would say the same for a man.
Interestingly, the same wave of women taking over is sweeping through the Nigerian business domain where, at the last count, almost one-third of Nigerian banks are now led by female CEOs.
Equally of note is the outcome of several studies which further justify the growing appreciation of the leadership qualities of women. These research findings admit that when women secure senior executive positions, companies become more profitable.
Instances include a 2018 study conducted by the Boston Consulting Group in partnership with MassChallenge, a US-based global network of accelerators, as well as a 2016 study by Marcus Noland and Tyler Moran published in the Harvard Business Review.
These statistics-backed research are causing a mindset shift in business circles, with investors and business owners now doing more in terms of diversifying the profile of their senior management to accommodate more women.
However, this is a template that Ekeh, for long a lone voice in the wilderness of gender equality, himself has long used as a practical, success-backed example.
Speaking on Tuesday, March 8, 2022 on the anniversary of International Women’s Day at The Herwakening, a women empowerment conference hosted by TD Africa – Ekeh, who had expressed a sense of satisfaction at the huge impetus in the rise of women globally, had challenged participants to a quiz.
He had asked them to name the only organisation in the world which had five female Managing Directors within its fold.
The answer to this puzzle, for many of these female participants, was undoubtedly an easy one as this seemed an impossibility.
But that ‘impossibility’ is a reality in the Zinox Group where Ekeh remains arguably the only entrepreneur who has appointed the most females in merited leadership positions anywhere in the world.
At the last count, the Zinox Group still has four female Managing Directors and a CEO. They are led by Mrs. Chioma Ekeh, wife of Mr. Ekeh and CEO of TD Africa, a cerebral mathematician and Chartered Accountant who has, over the years, steered the company to the pinnacle of the tech distribution space in Sub-Saharan Africa and consistently maintained its unflagging reputation as the industry leader.
She is ably assisted by three other female business leaders, all MDs worth their weight in gold: Chioma Chimere, Coordinating Managing Director (CMD); Shade Oyebode, Managing Director, Operations and Gozy Ijogun, Managing Director, Sales.
At Zinox, another female, Kelechi Eze-Okonta, is Managing Director, a position she has occupied since 2018.
As the world rallies round the theme of breaking the bias – as aptly couched for the 2022 anniversary of International Women’s Day, Ekeh’s long-held faith, confidence and absolute non-bias for gender equality remains a fitting example for all the world over and a clear foresight of an imminent future the world must be ready to accommodate.
Telecom
How Artificial Intelligence is Revolutionizing Business Plans for Entrepreneurs
In today’s fast-paced business world, writing a comprehensive business plan can feel overwhelming for entrepreneurs. However, with the advancement of Artificial Intelligence (AI), this process is becoming more efficient and accessible. This guide shows how to use AI tools to create a business plan for your idea.
Think of AI as your digital assistant, speeding up the first draft so you have more time to make it better. AI gives you a structure, but your own ideas and understanding of your business makes the plan unique.
Embrace AI in Business Planning – Before you begin, you should know what goes into a business plan: a summary of your business, details about your company and offerings, and information about your market and competitors. You may also consider creating plans for your business sales, management, operations, and finances.
Gather all your business details first. This makes it easier for AI to help you turn them into a plan.
Feeding Information to AI – Start by providing a general overview of your business, including its name, target market, products or services, and financial projections. GoDaddy is sharing a prompt template below that can be used to provide information:
“I’m developing a business plan for my company, [company name], a [industry] startup offering [product/service]. Please accept the information below about my company as a basis for developing a strong business plan.”
Creating Sections with AI Help – Breaking your business plan into sections and using specific prompts for each can streamline the process. AI can generate initial drafts for each part, which you can then review and edit. Here are some prompts to help guide you:
1. Summary and Company Description:
- “As a successful entrepreneur and seasoned strategist, draft an enticing executive summary and company description for [company name] in the [industry] sector.”
2. Products and Services:
- “As an innovative product developer, provide a comprehensive description of [product/service] offered by my company.”
3. Market Analysis:
- “As a market analyst, outline a detailed market analysis for [company name].”
4. Competitive Analysis:
- “Compile a concise competitive analysis for [company name], highlighting the strengths and weaknesses of key competitors.”
5. Marketing and Sales Plan:
- “Create a thorough sales and marketing plan for [company name], including a detailed growth strategy.”
6. Value Proposition:
- “Assume the perspective of a potential customer and identify the unique selling proposition of [company name].”
7. Ownership and Management Plan:
- “Outline the optimal structure, ownership, and management roles for [company name].”
8. Operating Plan:
- “Craft an efficient operating plan for [company name], detailing infrastructure and risk management.”
9. Financial Plan:
- “Develop a comprehensive financial overview and funding request for [company name], including income statements and sales forecasts.”
10. Extra Information:
- This is where you can add any extra details like research or visuals.
Finalizing Your Plan – Once you have drafts for each part, it’s time to make it all fit together nicely. Your business plan should clearly show what your business is about and its path to success.
Getting Feedback from AI – After refining your draft, ask AI to check for any missing parts, mistakes or inconsistencies. This is a good time for AI to help create a summary, mission statement, vision, values, and value proposition to ensure alignment with your business goals.
Make a One-Page Plan – Lastly, create a simple one-page version of your business plan. It should include all the important points and be easy to understand. This step ensures clarity and focus, making it easier to communicate your business strategy to stakeholders. Remember, while AI helps a lot, it does not replace the ingenuity and oversight of human input to help ensure your unique business ideas are being reflected in your plan.
AI can be a helpful tool for creating and growing your business’ digital presence. With GoDaddy Airo, an AI powered experience, you can embrace AI to streamline your business planning and operations, allowing you more time to focus on turning your entrepreneurial dreams into reality.
Telecom
Group Advocates for Digital Rights at 2024 Internet Governance Forum
Paradigm Initiative (PIN), a leading pan-African organisation dedicated to advancing digital rights and inclusion in the Global South, has made significant contributions to the just-concluded 2024 Internet Governance Forum (IGF) in Riyadh, Saudi Arabia.
PIN’s participation in the prestigious global event underscores the organisation’s commitment to fostering inclusive digital policies and ensuring that Africa’s voices are central in global discussions about the future of the internet.
During the week-long forum, PIN team members played key roles in numerous sessions, emphasising the importance of a digital rights perspective in the development of emerging technologies, advocating for a more inclusive digital future, and addressing the specific challenges the African continent faces in terms of digital access and inclusion.
PIN Executive Director, ‘Gbenga Sesan, spoke at high-profile sessions, including the Leadership Panel on ‘The Internet We Want’, which outlined the vision for a global internet that is accessible, secure, and inclusive.
At the Africa Youth IGF Parley, ‘Gbenga provided a platform for young Africans to address pressing issues such as internet restrictions, the digital divide, and digital rights violations.
Adeboye Adegoke, Senior Manager for Grants and Programmes Strategy at Paradigm Initiative, contributed to Open Forum #12, advocating for policies that ensure a rights-respecting and inclusive digital future. His discussions highlighted the importance of policies that place human rights at the core of technological advancements.
Ihueze Nwobilor, Senior Programmes Officer, spoke at the session, ‘A Rights-Respecting Approach to Emerging Tech Development,’ where he called for the prioritisation of human rights in the development and deployment of emerging technologies across Africa and beyond.
The organisation’s Senior Manager for Partnerships and Engagements, Thobekile Matimbe, shared valuable insights during the ‘Better Products and Policies Through Stakeholder Engagement’ session.
She emphasized the role of the private sector in engaging with local communities to ensure that digital products and policies are inclusive and meet the needs of vulnerable groups across Africa.
Bridgette Ndlovu, PIN Partnerships and Engagements Officer, moderated a session on ‘Implementation of the USF in 26 African Countries,’ where she and other speakers, including ‘Gbenga Sesan, discussed the crucial role of Universal Service Funds (USF) in advancing digital inclusion, particularly in underserved and rural areas.
PIN’s participation at IGF 2024 has been an important moment for advocating digital rights in Africa. “Paradigm Initiative’s participation was a powerful reminder that Africa’s digital future must be shaped by inclusive, rights-respecting policies.
“Our participation at the IGF is a continuous demonstration of the need for all stakeholders to collaborate in building a more inclusive and accessible internet for everyone, especially those in under-served communities,” PIN Executive Director, ‘Gbenga Sesan stated.
Telecom
Patricia Technologies Begins Repayments to Customers Affected by 2022 Security Breach
Lagos-based financial technology firm Patricia Technologies has commenced repayments to customers impacted by a 2022 security breach. This follows a two-year period where the company focused on recovering funds and rebuilding trust.
In 2022, Patricia experienced a significant cyberattack, resulting in the loss of over 600 million Naira from customer accounts. Following the breach, the company temporarily restricted withdrawals and collaborated with law enforcement, leading to the arrest of several suspects, including a prominent politician.
Patricia had previously requested a two-to-five-year repayment window, a plan that has now begun to be implemented. The company has started disbursing funds to affected customers in phases, with the first batch of payments initiated on December 10, 2024.
CEO Hanu Fejiro emphasized the company’s commitment to its customers, stating, “This repayment process represents a milestone in fulfilling our promise to make things right.”
He encouraged customers to update their information on the Patricia platform and monitor official channels for further updates on their individual repayment timelines.
Subscribers who are getting paid in this phase have since been officially notified by email. One of the subscribers, with initials BP (for purposes of confidentiality), expressed appreciation and satisfaction with being paid by Patricia via an email reaction: “I really appreciate your effort. Though it took a long time, I’m satisfied with what I’ve received. Thank you for keeping to your words.”
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