General News
Common Misconceptions Nigerians Have About Entrepreneurship
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By Adeniyi Ogunfowoke,
Nigerians respect entrepreneurs especially when they share their success stories. But, due to the way the society regard entrepreneurs and celebrate them, many people come up with misconceptions about entrepreneurs. The most common one is that entrepreneurs are like superhumans, they never sleep.
As a result of these misconceptions, some people choose not to be an entrepreneur. Here are five common misconceptions about entrepreneurs that Nigerians should know.
Entrepreneurs are meant to be successful
Many Nigerians believe that entrepreneurs must be successful in their field and every businessman should be prosperous in their respective industries. But the reality is something else. Many entrepreneurs have failed because the business world is filled with a whole bucket of challenges. Only persistent and tough-skin entrepreneurs can survive.
They have solutions for every problem
Entrepreneurs are not gods and they do not have the solution to every problem. Yes, they are experienced and knowledgeable but it goes overboard to consider them as having all the solution for each and every issue beyond their area of interest. Jumia, Nigeria’s no 1 shopping destination is known all over Africa as the go-to platform when it comes to eCommerce. It has introduced convenience to the homes of many Africans. This is a problem that Africans needed a solution for and for the past 6 years Jumia has been offering innovative solutions. What did the founders do? They identified a problem and provided innovative and creative solutions by leveraging on technology and the internet.
Quit your 9-5 to become an entrepreneur
Except your business has gained a lot of traction, it is advisable not to quit your 9-5 job. This is because you will be cash-strapped and have no money to finance your business. As an entrepreneur, the success of the business becomes part of your identity and you bring that with you wherever you go. The responsibility is massive, which is something many people are not prepared for.
You need to go to Business School
Business schools definitely will help you on your journey to becoming an entrepreneur. But it doesn’t make or break you. There are many entrepreneurs that did not go to business school but have excelled in business. This just goes to show that really anybody can succeed at being an entrepreneur with a lot of hard work. College and higher education are commonly seen as the only way to success. This is not the case. In today’s society, especially with the internet, with the right attitude and a lot of hard work, you can build anything that you want to.
You set your own hours
A lot of people believe being an entrepreneur means that their work schedule will be flexible. Instead, they get exactly the opposite. If you’re a committed entrepreneur, your business takes over your life, whether you like it or not. You’ll be working from the moment you wake up, to the time that you go to bed.
General News
Government, Development Industries Report Threefold Decrease in Critical Cyber Incidents in 2024
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According to the latest Kaspersky Managed Detection and Response (MDR) analyst report, government and development industries experienced a significant decrease in the number of high-severity incidents with direct human involvement in 2024, whereas the food, IT, telecom and industrial sectors demonstrated an increase.
The annual Managed Detection and Response (MDR) analyst report provides insights into detected incidents, their nature and their distribution across various industries and geographic regions.
Additionally, it emphasises the most common tactics, techniques and tools used by attackers over the previous year. The data is based on analysis of incidents detected by Kaspersky MDR.
Compared to 2023, the mass media, development and telecoms industries experienced a significant increase in the number of incidents.
However, when examining high-severity incidents – those that feature direct human involvement – the distribution reveals notable differences.
In 2024, the MDR team identified that the majority of high-severity incidents occurred in IT (23%), followed by the government (18%) and industrial sectors (18%).
The report highlights a significant decrease in high-severity incidents within the government and development sectors, while the number of such incidents in the food sector increased.
Additionally, a relatively large rise was observed in the industrial sector, alongside a slight increase in retail, IT and telecoms. Interestingly, despite the mass media sector facing a substantial increase in overall incidents, this trend did not translate into a corresponding rise in high-severity incidents.
This observation shows that many attack attempts were swiftly detected and mitigated, effectively preventing their severity from escalating beyond medium levels.
“In 2024, we revealed a shift in the landscape of cyber threats, with high-severity incidents increasingly concentrated in the food sector, underscoring the necessity for cybersecurity measures in this area.
While the overall number of incidents surged in sectors like telecom and mass media, the resilience demonstrated in swiftly detecting and neutralising potential threats highlights the importance of proactive measures.
As attackers refine their tactics, organisations must adapt by investing in robust cybersecurity solutions that combine advanced technologies with expert oversight,” comments Sergey Soldatov, Head of Security Operations Center at Kaspersky.
To strengthen your company’s protection against sophisticated attacks, deploy robust cybersecurity solutions and hire qualified practitioners to manage them or adopt managed security services such as Managed Detection and Response and Incident Response.
These security services encompass the complete incident management cycle from threat identification to continuous protection and remediation. They assist in safeguarding against evasive cyberattacks, investigating incidents and offering expert support even if a company lacks security workers.
General News
Ghana Shines as Host of QNET’s Groundbreaking V-Africa 2025 Event
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Ghana took center stage as the host of QNET’s highly anticipated V-Africa 2025, a regional edition of the company’s flagship convention.
From February 20 to 23, 2025, the Accra International Conference Centre welcomed over 4000 participants from across the Sub-Saharan Africa region to experience four days of empowerment, networking, and innovation.
The convention spotlighted QNET’s exclusive product offerings, which provide immersive entrepreneurship training and contribute significantly to Ghana’s tourism and economic growth. V-Africa 2025 showcased Ghana as a hub for entrepreneurial excellence.
Trevor Kuna, Chief Marketing Officer for QNET, expressed his enthusiasm: “Hosting V-Africa 2025 in Ghana is a testament to our commitment to supporting entrepreneurs in Africa.
This event isn’t just about showcasing our brand—it’s about empowering individuals to achieve their dreams while contributing meaningfully to local economies. We look forward to welcoming media representatives to witness QNET’s transformative impact firsthand.”
Empowering Entrepreneurs, Celebrating Culture
The itinerary for V-Africa 2025 included product workshops, dynamic training sessions on business building and entrepreneurship, and an exhibition featuring QNET’s signature product brands, such as HomePure range of home care products, Amezcua’s wellness range, Swiss watch brand Bernhard H. Mayer’s new Collection, and more.
Attendees gained invaluable insights into QNET’s ethos of wellness, sustainability, and entrepreneurship, setting the stage for lasting business growth.
Biram Fall, QNET’s Regional General Manager for sub-Saharan Africa, elaborated on the event’s local significance: “V-Africa 2025 will leave a lasting legacy by empowering Ghanaian entrepreneurs and supporting Ghana’s tourism industry.
“This is more than a business convention—it’s a platform for connection, growth, and transformation.”
Driving Tourism and Economic Growth
As one of the largest events of its kind in Ghana, V-Africa 2025 attracted participants from 25 countries, providing a boost to the local hospitality, transportation, and tourism sectors.
QNET’s commitment to Ghana includes partnering with local stakeholders to ensure the event delivers long-term benefits to the community.
General News
FlashChange CEO Seeks Regulatory Clarity in the Blockchain and Cryptocurrency Industry
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FlashChange, a forward-thinking financial service company that is redefining how digital assets are traded and managed has recently participated at the Lagos Tech Fest, a two-day event that brought together key stakeholders, industry leaders, and tech enthusiasts to discuss the future of technology in Africa.
The CEO of FlashChange, Bidemi Oke made a strong argument for more transparent regulations in the blockchain and cryptocurrency industry at the event, where he stressed the necessity of structured legislation to promote innovation, safeguard investors, and propel economic progress.
Speaking during a panel discussion alongside other panelists on Crypto in Nigeria: Fintech Integration, Real-World Applications and Opportunities, Oke emphasised the difficulties companies encounter because of legislative ambiguity. He urged legislators to work with industry players to create rules that promote responsible expansion while guarding against abuse.
“The potential for blockchain and cryptocurrencies to transform finance and promote financial inclusion throughout Africa is enormous. However, companies and investors continue to have doubts about the industry’s future in the absence of clear regulations. We must develop a framework that strikes a balance between innovation and consumer protection,” Oke remarked.
As one of Nigeria’s top cryptocurrency exchange platforms, FlashChange, has been leading the charge to encourage secure and effective digital asset transactions. While maintaining adherence to international standards, the business keeps pushing for laws that encourage the expansion of the sector.
The Lagos Tech Fest provided a forum for thought-provoking conversations about how technology, finance, and regulation interact in Nigeria. Many industry participants who agreed that a methodical and forward-thinking approach to blockchain governance was necessary found resonance in Oke’s support for regulatory clarification.
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