Telecom
Startups Can Opt for Leveraging to Scale – Mazi Sam Ohuabunwa
The much awaited 18th Edition of CFA’s Startups Hangout took place on Wednesday, February 27, 2019, at the premises of Godo hub, 53, Oladipo Bateye Street, GRA, Ikeja, with Mazi Sam Ohuabunwa, OFR, Managing Partner of StartTeam Consult and current President of the Pharmaceutical Society of Nigeria, PSN, sharing a lot of insights into how to scale a business from Startup with the attendee Startups that trooped in to grace the occasion.
The other speaker, Aramide Abe, was stuck in the ubiquitous Lagos traffic on her way to the event and was not able to be a part of the discussion.
Ohuabunwa, in addressing the theme of the 18th Edition of CFA’s Startups Hangout, “From Startups to Scale Up: The Whole 9 Yards”, expressed delight at being able to stand before youths striving to make something good out of their Startups and to share his experiences, with being involved in starting about 30 businesses, with about half of that already dead and what worked for the other half that are still standing strong today, due to the application of strong corporate management, organizational leadership and entrepreneurship.
He stated that everyone knows that, one of the major challenges that Startups have is how to have access to funding for their businesses.
He also noted that there are two ways of raising funds for your business to scale and these are Equity funding, which involves pooling your resources and applying in the business and then, funding through Leverage.
“If you learn to leverage, the work is shared, individual risks are minimized”, he stated, drawing examples from his experience with starting up companies, such as Seegal Pharmacy, Red Star Express and the buyout of Pfizer, which later became Niemeth.
Leverage, Ohuabunwa stressed, comes in two forms; loans from banks and other financial institutions and crowd funding of like-minded people, bringing in their little individual funds together to make a bigger pool of fund or investing to scale.
“This is usually done with offering shareholding to each member that contributes. He advised Startups that are struggling individually, to explore the possibilities of partnering with one another and those who believe in their cause, by pooling resources to scale, since it is very difficult to access bank loans.
“The best way to raise funds, is to leverage, by partnering with others and if you learn to leverage, the risk is shared”, he explained.
He, however, stated that, before leveraging through crowd funding, the Startup must have a need that it wants to fill, or a problem that it wants to solve or a value it wants to create, which people are willing to pay for.
Other qualities that the Startup must look up to, to scale, include having a clear vision of what you want to do and what you want to achieve and a vision for your life. “A vision for your life is a great propellant for you to do what you need to do to scale”, he stated.
He explained that other things that Startups can do to scale include, proper planning of what you want to do, writing them down and following through. “Preparation precedes success. Where preparation meets opportunity, you have success”, he observed.
He also advised Startups to have more than one plan, hence, they should have plans A, B, C, D, E, etc., so that, when one plan fails, you pick on another and run with it.
“The soul of business is customer creation. Build your customer base and your business will grow”, he stressed.
He advised Startups to build their brand and market, by exposing and talking about their brands at any for a where they find themselves.
To startups, Ohuabunwa also harped on the use of technology to benefit their businesses, as it brings convenience.
He also gave the attendee Startups advice on a number of issues, ranging from Franchise, delayed gratification to warehousing loans, etc. Questions and answers were taken after Mazi Sam Ohuabunwa’s presentation.
Other nuggets that Mazi Ohuabunwa gave the attendee startups include, having a mentor in a symbiotic relationship, rather than a parasitic one. Such mentors will be too eager to show you the way to go in scaling when the benefits are mutual, he advised.
CFA’s Startups Hangout is a forum where Startups gather from time to time, to learn from seasoned, successful entrepreneurs and corporate executives, with a view to learning how to grow their businesses, as well as networking and synergising with one another, in order to deepen the sustenance of their ventures, while adding value to the economy in general. Chukwemeka Fred Agbata Jnr, CFA, is the convener of CFA’s Startups Hangout.
VoguePay and Upperlink, two of the sponsors of the 18th Edition of CFA’s Startups Hangout, had the opportunities to make presentations to the attendee Startups on how they can benefit from their products.
This edition is made possible with the kind support of forward-looking brands, such as Remita, Zinox, VoguePay, Swift Networks, Upperlink, .ng (NiRA), AskAnExpert and GoDo.ng.
The 19th Edition of CFA’s Startups Hangout will be announced soon. Watch this space for the announcement.
ALTON Says 50 Percent Tariff Hike Good for Telcom SectorAssociation of Licensed Telecoms Operators of Nigeria (ALTON) has said the 50 per cent raise in data and call tariff will benefit consumers.
Gbenga Adebayo, chairman, ALTON,
Gbenga Adebayo, chairman, ALTON, who stated this Tuesday, explained that the tariff increase was not taken lightly, but rather was a necessary response to the significant economic challenges facing telecom operators.
Adebayo said, “The industry has been grappling with escalating costs, including diesel, energy, and inflation, without a corresponding adjustment in tariffs for 12 years.
“This has resulted in unsustainable operational costs, prompting telecom operators to seek a tariff review to maintain the quality of their services.
“The 50 per cent tariff hike was approved by regulatory authorities after a thorough review of economic indices, and is in line with the provisions of the Communications Act.”
The ALTON chairman noted that consumers will be the ultimate beneficiaries of the tariff adjustment.
He called for policies that would stabilise the forex market to support industry growth.
Adebayo said, “Furthermore, smaller telecoms players, burdened by high debt profiles, have been particularly vulnerable to the economic downturn, making network optimisation crucial.
“I urge the public to recognise that rising costs are a global economic reality, and not unique to the telecom industry.
“I also wish to assure our subscribers that telecom operators are committed to improving services and attracting more investments, leading to job creation and better overall service quality.
“The industry is now in a stronger position than in previous years.
“With increased investments and improved infrastructure, we are confident that the sector will continue to drive economic growth and provide better services to Nigerians.”
Telecom
Galaxy Backbone National Shared Service DC1, PH1, Abuja Achieves Tier III Certification of Constructed Facility
Galaxy Backbone Limited (GBB) has announced that its state-of-the-art National Shared Services Centre Data Center 1 (NSSC DC1), Phase 1, located in Abuja, has been awarded the Uptime Institute Tier III Certification of Constructed Facility.
This globally recognized certification, underscores Galaxy Backbone’s unwavering commitment to delivering exceptional digital infrastructure services that adhere to the highest global standards of availability, resilience, and reliability.
As Nigeria’s foremost digital infrastructure and ICT service provider, Galaxy Backbone remains steadfast in its mission to provide innovative Cloud, Colocation, Connectivity, and Cybersecurity solutions to meet the dynamic needs of organizations in both public and private sectors.
The Tier III Certification is a testament to the company’s dedication to building a world-class digital ecosystem that supports its clients’ evolving demands while maintaining uncompromising operational efficiency.
The Uptime Institute Tier III Certification represents a benchmark for operational excellence and reliability. The certification guarantees an infrastructure built to withstand unexpected disruptions, including natural disasters, cyberattacks, and emergencies.
This ensures uninterrupted business operations for our customers and aligns with our commitment to delivering reliable services that safeguard our clients’ critical data and digital assets.
This achievement adds to Galaxy Backbone’s portfolio of certifications, which already includes ISO 20000(Service Management Systems), ISO 2700l(Information Security Management Systems(ISMS), ISO 9001:2015 (Quality Management), PCI DSS (Payment Card Industry Data Security Standard) and ISO 22301:2019 (Business Continuity Management).
These milestones highlight our unwavering commitment to operational excellence, continuous improvement, maintaining international standards and client satisfaction. With each certification, Galaxy Backbone solidifies its position as a trailblazer in ICT solutions and a key enabler of Nigeria’s digital transformation agenda.
As Galaxy Backbone celebrates this significant milestone in addition to Galaxy Backbone existing Tier-IV Data Center TCCF (Tier-IV Certification of Constructed Facility), we reaffirm our commitment to fostering sustainable partnerships with stakeholders while expanding our fibre-optic network to reach more cities and underserved communities across Nigeria.
This expansion will create a stronger and more inclusive digital ecosystem, empowering organizations of all sizes to achieve their goals with confidence.
Together, we will continue to set new benchmarks in innovation, service delivery, and infrastructure development, positioning Nigeria as a leading player in the global digital economy.
The Lagos State Infrastructure Maintenance and Regulatory Agency (LASIMRA) has announced the commencement of the enumeration of communication towers and masts across Lagos State in collaboration with Association of Licensed Telecommunications Operators of Nigeria (ALTON).
In a statement signed by Prince Oyekanmi Elegushi, the General Manager/Chief Executive Officer, LASIMRA. “The Association of Licensed Telecommunications Operators of Nigeria (ALTON) is pleased to collaborate on this important initiative.
This project is vital for addressing public safety concerns raised by the Lagos State Government regarding abandoned communication towers and will deliver significant benefits to our industry and the broader public”.
The Lagos City Mast and Tower Enumeration Project aims to develop a comprehensive and up-to-date database of all communication towers in Lagos State. While many towers are owned by non-telecommunication entities—such as broadcasting companies (television and radio stations), government agencies, emergency services (police, fire, military, and defense organizations), financial institution, private security firms, and others—there is often a public misconception that all towers belong to network operators.
The Lagos State Government has highlighted the need to address critical issues related to public safety, structural integrity, and the potential risks associated with abandoned towers.
This enumeration exercise will help clearly identify and distinguish telecom operators’ towers from those owned by other entities, enabling better regulatory oversight, improved infrastructure management and for further action by the Lagos State Planning authorities.
According to Engr. Gbenga Adebayo, chairman, ALTON, “this initiative, endorsed by the Nigerian Communications Commission (NCC) and jointly sponsored by our members, demonstrates our commitment to self-regulation, proactive risk management, and safeguarding public interest.
“By maintaining a robust and secure infrastructure in Lagos State and across the Nation, will strengthen industry-led solutions, enhance our reputation, and foster stronger relationships with regulators and stakeholders.
Through this project, we aim to promote public safety, support environmental sustainability, and ensure compliance with regulatory standards. The initiative will also serve as a framework for similar future projects in other major cities across Nigeria as we proceed to Phase 2.
“We call on all stakeholders to support this exercise, ensuring its success in the public interest and for the safety and well-being of all. ALTON remains committed to working with Lagos State Government through LASIMRA and all relevant stakeholders to achieve these goals”.
ALTON Says 50 Percent Tariff Hike Good for Telcom Sector
CBN Orders NIBSS to Debit Banks over Fraudulent Transactions
NDPC @ 2025 Data Privacy Day, Calls for Collaboration on Awareness
Galaxy Backbone National Shared Service DC1, PH1, Abuja Achieves Tier III Certification of Constructed Facility
FG Secures 340 Patents for Indigenous Inventors
A beginner’s guide to Temu: Your ultimate shopping companion
CBN, SEC Approve FCMB Group’s N147bn Rights Offer
CBN did not Force 1000 Workers to Resign- Cardoso
New WAEC Program Offers Faster Route for Students to Improve WASSCE Grades
Afrobeats and Amapiano Lead Africa’s Musical Revolution
E-Financial2 days agoMoniepoint MFB Says Rumours of N1.1Bn Theft by Hackers Malicious
General News2 days agoCourt Orders Arrest of Access Bank Acting MD, Others over Alleged Theft of Property
Telecom2 days agoSERAP Drags Tinubu, Others to Court over ”Arbitrary” Telecom Tariff Hike
E-Financial2 days agoZenith Bank Reinforces Commitment to Staff Wellbeing with Salary Hike and Promotions
E-Financial2 days agoWorld Bank Urges CBN to Sustain Inflation Control Measures
Telecom2 days agoFG, WIOCC Partner to Deliver Internet to 3m Homes with $10m Investment
Telecom2 days agoGalaxy Backbone Celebrates Excellence and Innovation in Its People
E-Financial2 days agoSEC Warns against Transactions with Risevest, Stecs Cooperative Societies