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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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E-Business

Ozi Launches to Redefine $460Bn Global Package Delivery Market

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Ozi (www.ozionline.com), a pioneer community-driven delivery app, launches, offering users a new way to send packages and earn extra cash.

L-r: Co-Founders of Ozionline.com: Ikenna Ani (CEO), Azubike Augustine (COO) and Engr. Christian Chime (CTO)

By connecting people traveling with those needing package delivery, Ozi turns everyday trips into profitable opportunities, aiming to disrupt the global parcel delivery industry, also known as the Courier, Express, and Parcel (CEP) market, currently valued at around $460 billion.

Imagine this scenario – You’re traveling to Abuja from Lagos and have empty space in your car. With Ozi, that unused capacity can earn you extra cash by delivering a package along the way. Or maybe you’re a small business owner who needs to send a package to another state but balk at the high cost of courier services.

With Ozi, you can find a verified traveler heading in the right direction to handle your delivery, Engr. Christian Chime, Ozi’s co-founder and CEO, said during the startup launch held at Four Point by Sheraton, Victoria Island, Lagos.

“Why travel empty when you can earn?” asks Engr. Chime said. “Ozi allows travelers to make the most of their journeys while helping others get their packages delivered with ease.”

“This simple yet powerful idea leverages the daily movements of millions of Nigerians to create a logistics network that is fast, affordable, and efficient.

“Ozi’s unique approach leverages the everyday movement of travelers to bridge this gap, creating a system where everyone benefits”.

He said that the choice of Nigeria as the first launch-location for Ozi was due the potential the country holds in the parcel delivery sub-sector.

“Actually, we had the opportunity to launch OZI in another country outside Nigeria but for our thrust in the Nigerian dream and its potentials made us choose the country as the first to witness Ozi’s innovation”, Engr. Chime said.

“Travelers can now monetize their journeys by delivering packages along their routes, while senders gain access to an affordable and convenient alternative to traditional courier services”.

Ozi combines convenience, innovation, and community to deliver a win-win solution for Nigerians. From quick intra-city deliveries to long-distance trips, Ozi offers an affordable, efficient solution for all.

Whether you’re a traveler looking to earn on your trips or a sender seeking a reliable delivery option, Ozi offers a solution that works for everyone.

In the words of Azubuike Augustine, the co-founder and Chief Technology Officer of Ozi, “Ozi’s mission goes beyond simplifying package delivery. The app represents a broader effort to create shared value for all stakeholders in the logistics process.

“By connecting senders and travelers, Ozi creates a win-win scenario where costs are reduced, trust is built, and income opportunities are created”.

“Ozi prioritizes safety and transparency. Every user, whether sender or traveler, undergoes a comprehensive verification process that includes ID checks and phone number authentication. This ensures that all participants in the system are trustworthy and accountable”.

To enhance security further, the CTO said that Ozi offers real-time tracking for all transactions. Senders can monitor their packages throughout the delivery process, ensuring peace of mind. For high-value items, optional insurance coverage provides an added layer of protection, reinforcing Ozi’s commitment to reliability.

“At Ozi, we understand that trust is critical in logistics,” the Azubuike added. “That’s why we’ve built a platform where every step is designed to safeguard both the traveler and the sender.”

“Ozi is more than an app; it’s a community where everyone wins,” said Ikenna Ani, co-founder/COO of Ozi.

“From today, travelers across the globe can sign up through www.ozionline.com and start making every trip count”, he said. “We have put measures in place to ensure only genuine and verified travelers or senders use the platform. Security is primary for us”.

Ikenna added that the app will be released on Google Play Store and Apple (iOS) on January 1, 2025.  Ozi Live on Instagram | Facebook.

 

 


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E-Business

Ride the ‘Wicked’ Wave: Temu Brings Green Magic to Christmas

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Temu is set to enchant the holiday season with its unique blend of green magic, bringing a touch of festive wonder to Christmas celebrations. The initiative, themed “Ride the ‘Wicked’ Wave,” promises to deliver an unforgettable experience, combining technology, entertainment, and commerce to create a magical holiday atmosphere.

Temu

Temu’s green magic initiative aims to captivate audiences with a variety of festive offerings, from fashion to home decor, handmade crafts, beauty items, chic clothes, shoes, and more.

The platform’s innovative approach ensures that customers can enjoy a seamless shopping experience, with free shipping on all orders1.

As part of the celebration, Temu has also introduced a magical winter Christmas backdrop, perfect for creating a festive ambiance at home.

This backdrop, made from high-quality polyester, is designed to bring the spirit of the season to life, making it an ideal addition to any holiday decor.

With its commitment to providing exceptional products and services, Temu continues to set new standards in the e-commerce industry, ensuring that customers can enjoy the magic of Christmas in style


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Kaspersky Cybersecurity Experts Warn of Evolving Holiday Scams

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With the holiday season here, it’s not only a time for magic and celebration but also a prime opportunity for fraudsters to exploit the festive rush for gifts and bargains.

Kaspersky Cybersecurity Experts Warn of Evolving Holiday Scams

Amid the sparkle of year-end celebrations, cybersecurity experts at Kaspersky have identified several prominent scams targeting consumers across various regions and languages.

Fake holiday shops

Deceptive online stores mimic the look and feel of legitimate e-commerce sites, offering seasonal items such as decorations, gifts, and even trees at steep discounts.

These sites often appear highly localised, adapting their language and currency based on the user’s geographic location, leveraging data extracted from browsers.

Victims typically encounter these stores by following links in ads or pop-ups.

These sites aim to steal funds. Often, these fraudulent stores exist only for a short period, as they get flagged by the vendors of goods.

Free mobile data offer

This scam plays on the allure of free services, claiming to provide free mobile data valid across all major telecom providers.

In order to receive the free data, victims are required to share the promotion link with 10–15 contacts via WhatsApp, ensuring the scam spreads exponentially.

After sharing, victims are prompted to enter their personal details — name, phone number, and email — into a form.

The collected data is then sold on the Dark Web or used in other fraudulent activities.

In some cases, victims unknowingly download malware that compromises their devices, leading to further exploitation.

Holiday payments on behalf of government agencies

Fraudsters impersonate government authorities, promising fictitious payments in celebration of the holidays.

This scam has been reported in several African countries, including Kenya and Nigeria.

To receive payment, victims are directed to fill out a survey which requires personal details like name and phone number.

Once the survey is completed the user is asked to share the link to the announcement with their connections via WhatsApp.

These details are collected and added to fraudulent databases, then sold to third parties or used for phishing attacks and identity theft.

This scam exploits trust in government systems and the festive spirit of giving.

Christmas recipe scam

This scam begins with a seemingly harmless email promoting a holiday cake recipe.

Victims are encouraged to pay a small fee to access the recipe.

Once payment is made, the victim’s credit card information is stolen. The fraudsters also collect other personal information essential for accessing banking services.

“Holiday scams are not a new phenomenon, but they have evolved to become increasingly sophisticated, leveraging regional traditions and technology to exploit unsuspecting victims.

The rush of the holidays makes people more vulnerable — they’re distracted, eager to grab a deal, or trust promotions that align with festive themes. Cybercriminals are not just stealing money — they’re building massive databases of personal information that fuel future fraudulent schemes.

The holiday season is a time for joy and giving, but users need to remain vigilant to ensure they’re not unknowingly giving fraudsters the tools to exploit them further,” said Olga Svistunova, Senior Web Content Analyst at Kaspersky.

 

 

 

 

 

 


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