TikTok has committed an initial investment of approximately $20,000 to support digital commerce training for Nigerian entrepreneurs under a new partnership with the National Information Technology Development Agency, NITDA.

The funding will power a pilot Train-the-Trainer Programme designed to equip small and medium-sized enterprises (SMEs), particularly those in underserved and remote communities, with the skills and tools needed to thrive in the digital economy.

The initiative was unveiled at the launch of the TikTok Digital Commerce Labs Programme for SMEs in Lagos, where government officials, private sector leaders, and digital ecosystem stakeholders gathered to explore strategies for accelerating digital business growth and inclusion across Nigeria.

Speaking at the event, Kashifu Inuwa Abdullahi, the director-general and chief executive officer of NITDA, represent at the event by Dr Aristotle Onumo, director Stakeholder Management and Partnerships, described digital commerce as one of the most powerful drivers of economic inclusion and business growth in the modern economy, noting that access to digital skills has become increasingly critical for the survival and competitiveness of businesses.

According to the NITDA boss, the future of commerce is increasingly digital, and entrepreneurs who embrace technology will be better positioned to access larger markets, increase productivity, and create sustainable wealth.

He observed that while Nigeria is blessed with millions of hardworking and innovative entrepreneurs, many small businesses still lack the digital capabilities required to fully participate in the opportunities offered by the digital economy.

“Today, a young entrepreneur with a smartphone can reach customers beyond geographical boundaries, build a brand, market products globally, and create economic opportunities that were previously unimaginable. Our responsibility is to ensure that every entrepreneur, regardless of location, has access to the digital skills and tools needed to succeed in this new economy,” he said.

A major highlight of the event was the announcement of a collaborative programme between NITDA and TikTok designed to extend digital commerce training to SMEs across the country.

As part of the initiative, TikTok has committed an initial investment of approximately US$20,000 to support a pilot Train-the-Trainer Programme, which will leverage NITDA’s Digital Literacy for All (DL4ALL) networks to deliver digital commerce training to entrepreneurs, particularly those in remote and underserved communities.

Inuwa commended TikTok for its commitment to supporting entrepreneurship and digital inclusion in Nigeria, describing the initiative as a practical example of how technology platforms can contribute meaningfully to economic empowerment and national development.

He noted that the collaboration aligns with NITDA’s Strategic Roadmap and Action Plan (SRAP 2.0), particularly the Agency’s commitment to achieving widespread digital literacy, promoting innovation, supporting entrepreneurship, and fostering inclusive economic growth.

The DG stressed that technology should not merely be viewed as a tool for communication and entertainment but as a platform for creating opportunities, generating income, and transforming lives.

“Technology is most powerful when it empowers the least connected, creates opportunities for the underserved, and transforms potential into prosperity,” he stated.

Industry stakeholders at the event described the initiative as timely, especially at a period when businesses are increasingly leveraging digital platforms to connect with customers, expand operations, and access new markets.

The TikTok Digital Commerce Labs Programme is expected to strengthen digital capabilities among SMEs, improve access to digital opportunities, and contribute to the growth of Nigeria’s digital economy by enabling entrepreneurs to harness the power of technology for business development.

The launch reinforces NITDA’s vision to building a digitally empowered Nation fostering inclusive economic development through technological innovation where individuals, startups, and businesses can leverage technology to create value, generate employment, and contribute to national prosperity.

As Nigeria continues its journey towards becoming a leading digital economy in Africa, collaborations such as the NITDA-TikTok partnership are expected to play a significant role in empowering citizens, fostering innovation, and expanding economic opportunities for millions of Nigerians.

The post TikTok Commits $20,000 to Boost NITDA-led Digital Commerce Training in Nigeria appeared first on Tech | Business | Economy.

The launch comes as the Group approaches its fifth anniversary, highlighting five years of redefining insurance through innovation, customer-centricity, and technology-driven solutions.

With Prince AI, Heirs Insurance becomes the first insurer in Nigeria to deploy a multi-language generative AI assistant, setting a new benchmark for customer engagement in the industry.

The AI-powered assistant delivers instant, intelligent responses not only to customer requests about Heirs Insurance products, but also to broader insurance enquiries, helping users understand coverage options, assess their needs, and identify the right policies for their unique situations.

Built with accessibility at its core, Prince communicates fluently in multiple local and international languages, including English, Yoruba, Igbo, Hausa, French, German, Spanish, Portuguese, Chinese, and many more, breaking down language barriers and enabling more customers to engage confidently with insurance in the language they understand best.

Beyond handling enquiries, the AI assistant enables customers to purchase and renew policies, initiate and track claims.

The chatbot is available across WhatsApp, the SimpleLife Mobile App, and the Heirs Insurance website, delivering seamless, always-on service experience across multiple digital touchpoints.

Speaking on the launch, Peace Okhianmhense-Philips, chief digital officer, Heirs Insurance Group, said:

“Prince AI represents the next phase of our digital evolution. By embedding generative AI into our customer experience, we are not only improving speed and efficiency but also humanising insurance. This innovation allows us to connect more meaningfully with our customers, anticipate their needs, and deliver support that is instant, intelligent, and accessible.”

Built on adaptive intelligence, the AI Assistant continuously refines its capabilities through every interaction, ensuring customers receive increasingly accurate and relevant guidance. Where personalised counsel is required, Heirs Insurance’s seasoned representatives stand ready to provide expert advice and clarity, ensuring a hybrid experience that blends the speed of automation with the empathy of human support.

Heirs Insurance Group is the insurance arm of Heirs Holdings, the leading pan-African investment company, with investments across 24 countries and four continents.

With a rapidly expanding retail footprint and an omnichannel digital presence, Heirs Insurance Group, comprising Heirs General Insurance Limited, Heirs Life Assurance Limited, and Heirs Insurance Brokers, serves both corporate and individual customers across Nigeria.

Heirs Insurance Group is championing financial inclusion and leading the digital insurance play in Nigeria, demonstrating its mission to democratise access to insurance.

The post Heirs Insurance Sets the Pace with ‘Prince AI’ Nigeria’s First Multi-Language GenAI Assistant appeared first on Tech | Business | Economy.

In a press release signed by its eccentric founder, Obinna Onyejeli, on Monday, January 27, 2025, the move is set to redefine how businesses and individuals navigate and leverage location data across Nigeria.

This new iteration of the Loccode system builds on the groundbreaking foundation laid in 2024, which introduced unique alphanumeric codes (Loccodes) to map Nigeria’s vast and often complex geography.

While the initial system segmented the country into manageable units, today’s launch assigns unique loccodes to every street—including both named and unnamed roads—ensuring comprehensive and efficient coverage for Nigeria’s rapidly expanding infrastructure.

The Loccode system now functions much like the UK’s postcode system, but it’s designed specifically for Nigeria’s unique needs, with a dynamic and adaptive framework that evolves alongside the country’s urban development.

The innovation has been hailed as a potential game-changer for sectors like logistics, advertising, healthcare, insurance, and financial services—industries that have long struggled with the challenges posed by Nigeria’s underdeveloped address systems.

A Free API for Businesses and an Upgraded App for Individuals

In tandem with the updated Loccode system, Maiaddy unveiled the Basic Address Search Engine (BASE) API, which is available for businesses to integrate at no cost.

By providing easy access to location data, this API aims to simplify operations for businesses that rely on accurate location information, such as delivery services, emergency responders, insurance and mapping tools.

Further expanding its reach, Maiaddy also launched an updated version of the Maiaddy app, now equipped with the new Loccode features.

The app goes beyond location identification by enabling users to perform location-based tasks and earn money, adding an element of financial empowerment to its utility.

This free app, available on the AppStore and PlayStore, reinforces Maiaddy’s commitment to making location intelligence accessible to everyday Nigerians while promoting user engagement and participation.

Addressing Nigeria’s Longstanding Challenges

With its enhanced Loccode system and free tools, Maiaddy is addressing one of the most significant barriers to development in Nigeria: the lack of an efficient and universal address system.

Logistics companies can now streamline deliveries to remote or informal settlements, insurance firms can better assess risk with precise location data, and healthcare providers can identify underserved areas more effectively.

“In a country where poor address systems have hindered growth for decades, Maiaddy’s solution promises to unlock economic opportunities, improve service delivery, and foster greater connectivity”, Onyejeli said.

Looking Ahead

Maiaddy’s announcement marks a significant milestone, but the company emphasizes that this is “just the beginning.” Its vision includes continuously refining its location intelligence tools as Nigeria grows, ensuring its solutions remain relevant and adaptive.

As Nigeria adopts the loccode system, businesses integrate Maiaddy’s BASE API and individuals adopt the updated Maiaddy app, the potential ripple effects on Nigeria’s economy and quality of life could be profound.

Stay tuned to Techeconomy for more updates on disruptive innovations in Nigeria and beyond.

The post Maiaddy Unveils Enhanced Loccode System and Free Location API to Revolutionize Nigeria’s Location Intelligence Landscape appeared first on Tech | Business | Economy.

By leveraging online platforms, SMEs can access global markets, reduce reliance on physical stores, and automate processes like order processing and payment. This allows them to compete more effectively, grow their customer base, and increase profitability.

Several e-commerce platforms are fueling SME growth in Africa. Prominent e-commerce platforms like Jumia, Konga, Jiji, and Kilimall have established a strong presence, while emerging platforms like Bumpa, SokoSQ, Squarespace, and Shopify are also making waves.

Here’s a more detailed look at some of the key players:

Jumia:

CEO: Sunil Natraj

Jumia is a dominant force in the African e-commerce market, operating in multiple countries and offering a wide range of products. Jumia, a prominent e-commerce platform in Africa, has seen fluctuating results. In the third quarter of 2024, they had 2.4 million quarterly active customers, a slight increase from the previous quarter. Their 2023 revenue was $186.4 million.

Konga:

CEO: Prince Nnamdi Ekeh

Another major player in Nigeria and beyond, Konga offers a diverse selection of goods and services. In the year 2020, Konga, an online marketplace for physical goods based in Lagos, Nigeria, had 23 million web visitors. About 36% of these visitors were aged 25 to 34 years. Konga is considered one of Nigeria’s leading online marketplaces.

Kilimall:

Founder: Yang Tao

Based in Kenya, Kilimall is a significant player in the East African market. Kilimall, a Chinese e-commerce company, has a significant presence in Africa, with a strong focus on Kenya, Uganda, and Nigeria.

They offer a wide range of products and cater to local tastes and preferences. Kilimall has also implemented initiatives to support education and entrepreneurship on the continent.

Bumpa:

Founders: Kelvin Umechukwu and Adetunji Opayele

Focusing on the Nigerian market, Bumpa is a growing platform for SMEs. Bumpa has seen significant growth, increasing its customer base from 2,500 to over 7,000 merchants, with an average monthly growth of 50%. They’ve also supported over 200,000 orders and a gross merchandise volume (GMV) of $20 million. It is estimated that Bumpa will experience a 38% increase in stores created on their platform by the end of 2024.

Jiji:

Founder: Anton Volianskyi

Jiji is another popular Nigerian e-commerce platform. The marketplace provides buyers and sellers with an avenue to meet and exchange goods and services.

Jiji boasts 12 million monthly active users across seven African countries, including Nigeria, Kenya, and Ghana. It also operates in Bangladesh. Its annual transaction value exceeds $10 billion USD. The platform had 10 million unique monthly visits and two million active ads with a combined worth of $10 billion as of this year.

SokoSQ:

Founders: Ezeala Adaugo Godsgift and Frankline Ugwu

SokoSQ is an AI-powered e-commerce tool helping African small businesses do more than just go digital, it helps their websites work harder.

In just a few months since launch, it has onboarded over 1,500 SMEs and is already approaching ₦1 billion in GMV.

Tailored to the realities of African entrepreneurs, SokoSQ combines high-converting online stores with AI-driven marketing, business management, and customer engagement, all in one seamless platform.

For SMEs that have relied on Instagram or WhatsApp, it bridges the gap between visibility and actual scalability, offering AI-generated product descriptions, store optimization, sales tracking, and inventory tools.

Squarespace:

Founder: Anthony Casalena

While primarily a website builder, Squarespace offers features for selling products, making it a suitable option for some SMEs. Squarespace is a popular website builder with over 4.9 million unique subscriptions and a $1.12 billion annual revenue run rate. In 2023, the company generated $1.01 billion in revenue, with a 17% increase in revenue compared to 2022. Squarespace is used by approximately 2.0% of all websites and has a 17% market share among simple website builders.

Shopify:

Founders: Scott Lake, Tobias Lütke and Daniel Weinand

Shopify is a popular platform for building online stores, with a strong presence in the African market. Shopify powers over 4 million online stores globally and has processed over $886 billion in e-commerce sales since its launch. The platform’s annual revenue reached $5.6 billion in 2023, a 20% increase from the previous year. Shopify supports over 175 countries and has a significant presence in North America, with 70% of its merchants located there. Mobile traffic makes up 71% of Shopify’s total traffic.

KudiGo Storefront:

Founder: Kingsley Abrokwah

This platform is specifically tailored for the African market, offering affordable pricing and features for SMEs. The freemium platform for e-commerce, saw a significant increase in merchant success in the last quarter, with a 260% rise in monthly transaction volume.

The platform offers features like payment processing, customer management, and inventory management, with a limit of 50 products in the free version and up to 5,000 in the full, paid version. In 2019, a high percentage (95%) of sales on the system were cash transactions, indicating the prevalence of cash transactions in some regions.

Other Notable Platforms:

Platforms like Yoco, Kalahari.com, and Bidorbuy.com also contribute to the growth of e-commerce in Africa.

These platforms are helping SMEs reach a wider audience, increase their sales, and grow their businesses by leveraging the power of online retail in Africa.

The post 10 E-commerce Platforms Fuelling SME Growth in Africa appeared first on Tech | Business | Economy.

This she achieved by proving her deep understanding of data management, data governance, and data analytics is essential. This includes knowledge of data technologies, data architecture, and data quality management.

Dr. Amuchienwa has the ability to develop and execute a comprehensive data strategy that aligns with the organization’s business objectives.

This involves identifying data opportunities and challenges and making strategic recommendations.

Her strong leadership skills to drive data initiatives and influence stakeholders across the organization have showcased her ability to communicate the value of data and foster a data-driven culture.

She has proven beyond reasonable doubt her Technical Expertise – showcasing Proficiency in data-related technologies, including big data, cloud computing, artificial intelligence, and machine learning.

This expertise enables the CDO to leverage technology for data-driven decision-making.

Dr Rita Amuchienwa understands Regulatory Compliance. She has deep Knowledge of data protection regulations such as GDPR and CCPA.

As a CCDO she ensures that the organization complies with these regulations and implements robust data security measures.

Dr. Amuchienwa has Analytical Skills and strong problem solving skills to address data-related challenges and implementation of effective solutions by identifying root causes and developing strategies to mitigate risks.

The post Dr Rital Ndidi Amuchienwa Emerges isCDO’ CCDOA appeared first on Tech | Business | Economy.

The session delved into the evolving landscape of entrepreneurship in today’s globalized world. As businesses increasingly seek to expand beyond local markets, the need for innovative strategies to break down geographic and operational barriers has become paramount.

The session explored the evolving landscape of entrepreneurship in today’s globalized world. As businesses increasingly seek to expand beyond local markets, having unique and professional branding is essential.

One innovative approach to building a strong brand identity is through custom business cards, which allow entrepreneurs to make lasting impressions in any market.

Tools like Adobe Express make it easy to design and print personalized business cards that help break down geographic and operational barriers.

The session featured industry experts from diverse sectors: Alaseidiema Atedoghu, the admin & cultural manager at Cinfores, brought her extensive experience in navigating cultural complexities within multinational organizations.

Emem Jacob Edem, CEO of the Etegram Group, shared insights from scaling his diverse conglomerate across multiple regions.

Also, Tobi Ololade, CEO and engineering lead of Dojah, leveraged his technical background in leading a fast-growing fintech company.

The panelists discussed how entrepreneurs can harness innovation to fuel growth and successfully scale their businesses across borders. Key themes included leveraging technology, navigating regulatory environments, and tapping into new markets while addressing the unique challenges of global expansion.

Tobi Ololade speaking on balancing business growth and impacting the local community said: “Startups can balance growth and community impact by creating products people need, not just what they want.”

Emem, speaking on the challenges of building a borderless business, noted that while regulatory hurdles may arise for businesses looking to operate internationally, it is pertinent that adequate research is made to ensure proper understanding of the business environment.

The conversation also highlighted the importance of adaptability, collaboration, and digital transformation in fostering borderless business models.

Alaseidiema highlights the need for Startups to adapt to the cultural nuances of regions they are expanding to.

In her words: “Communication is very important. Founders must understand verbal and nonverbal communication, direct and indirect communication. Communication style differs and founders must learn to speak in a way that their local communities understand.

“There is also the issue of flexibility. Founders need to be flexible as they look to expand. There is no exact way to do things if a startup wants to expand to a new terrain or locality.”

This session provided valuable insights for entrepreneurs eager to expand their reach and operate seamlessly across different regions.

Tobi speaking on the inclusion of technology in business asserts that technology is solely responsible for the success of a business. He further said that technology only enhances business operations.

“I have always disagreed that technology is the first thing a business needs. My first advice to founders is that they should solve a problem first without technology. If they remain successful in the short-run, then they can go ahead to include technology to enhance operations.

Try out that business idea in your local market or a Whatsapp community and see it work. The success of a startup is not in technology. Technology comes to enhance what you have already built in terms of operations.

The panelists highlighted that while challenges such as regulatory hurdles, cultural differences, and logistical issues persist, they are not insurmountable.

Through innovative approaches and a focus on scalability, businesses can overcome these obstacles and tap into new opportunities.

For entrepreneurs looking to scale, the message was clear: technology is not an end, but a tool for growth—it’s a necessity for success in an increasingly borderless world.

The post #StartupSouth9: Harnessing Innovation for Global Business Growth appeared first on Tech | Business | Economy.

For many, healthcare — particularly access to affordable medication — is increasingly out of reach. It’s a problem that demands urgent, innovative solutions.

At a health tech startup Nkeiruka leads design in called OneHealthNG, she took on this challenge by designing a Pharmacy Fulfillment System — a comprehensive platform connecting pharmacies, HMOs, and customers to streamline order management and ensure real-time medication delivery.

Leading the design of this system, Nkeiruka focused on creating a solution that has successfully onboarded over 2,000 partner pharmacies in just one month, with plans to also design the HMO client dashboard enabling better access to affordable medications for thousands of Nigerians.

Techeconomy peeps into Nkeiruka Ifeonu’s journey, trying to find out her approach towards this complex but impactful design:

Understanding the Product Requirements

Her mission was clear: reduce operational inefficiencies and create a seamless experience for all stakeholders — pharmacies, customers, HMOs, and the team.

To achieve this, Nkeiruka prioritized key objectives such as track and fulfill orders efficiently: Pharmacies needed visibility into requests to improve fulfilment rates.

Implement a sub-wallet system – This feature was critical for payment reconciliation between parties. Also, she looked at enabling negotiation capabilities – customers needed a way to negotiate fair pricing for medications amidst rising costs.

The solution had to complement existing communication channels without eliminating the operational team’s role in facilitating complex negotiations.

Research: Listening to Stakeholders

Great design starts with empathy. She engaged directly with partner pharmacies to uncover their pain points and objectives.

These conversations revealed a need for clear visibility into order volumes and statuses; secure wallet systems for payment reconciliation, and negotiation tools to facilitate fair pricing.

This feedback shaped the system’s design, which prioritized an intuitive dashboard, an order tracker, wallet integration, and enhanced security through Two-Factor Authentication (2FA).

Designing with Purpose

Armed with insights, Nkeiruka moved into sketching and wireframing, ensuring collaboration by sharing initial concepts with the team. Brainstorming sessions aligned stakeholders and sparked innovative thinking.

She designed key sections, including: Home Dashboard – a snapshot of pharmacy operations; Orders Section used to track and manage medication requests; Wallet System for real-time payment tracking and reconciliation; Partner Management used to streamline pharmacy onboarding and engagement, and Payouts and Settings that enables the management of financial transactions and configurations.

Collaborative Stakeholder Feedback

Nkeiruka led detailed review sessions to keep stakeholders aligned and engaged throughout the design process. These sessions provided invaluable feedback that helped refine the platform to meet operational and user needs.

Prototyping and Testing with Users

Once she developed a prototype, she tested it extensively with internal teams, stakeholders, pharmacies, and customers.

One standout feature was the negotiation function, allowing customers to secure fair pricing for medications. This was especially important given the financial constraints faced by many Nigerians.

Continuous Testing and Iteration

Nkeiruka Ifeonu took her time to test and retest the system with all parties involved — pharmacies, HMOs, customers, and the team.

This rigorous approach ensured a robust, user-friendly fulfilment system that simplifies medication ordering and provides transparency for all stakeholders.

Therefore, in a country where nearly 40% of the population struggles to afford essential medications, innovative solutions are a necessity.

The OneHealth Pharmacy Fulfilment System Nkeiruka Ifeonu designed is a testament to the power of thoughtful design and collaborative problem-solving.

Beyond streamlining the medication order process, this platform has the potential to reduce Nigeria’s healthcare costs, improve medication access, and create employment opportunities.

As a product designer, her role goes beyond aesthetics. She is a problem-solver advocating for users, and also a champion of innovation. This project reinforced the importance of empathy-driven design in tackling real-world problems and creating impactful solutions.

More about Nkeiruka Ifeonu

Nkeiruka Ifeonu’s journey into product design is nothing short of inspiring. With a background in marketing, PR, customer service, and social media management, she brings a rich blend of communication and problem-solving skills to her work as a product designer. Her ability to connect with users and understand their needs is rooted in her experience across these diverse fields.

Living in Lagos, Nigeria has played a crucial role in shaping her design philosophy. The city’s unique challenges have fueled her growth as a designer, pushing her to identify and address issues in underserved communities.

Her work focuses on creating meaningful solutions that improve lives, showing how design can be a powerful tool for change.

But Nkeiruka’s impact goes beyond just design. Her dream of helping 1,000 women transition into tech speaks volumes about her commitment to inclusivity and empowerment. Through mentorship, one-on-one sessions, and sharing resources on social media, she’s dedicated to making tech accessible to more women, leaving the ladder behind for others to climb.

Her career trajectory is equally remarkable. From starting as a product design intern to becoming a full-time product designer.

Nkeiruka has demonstrated exceptional growth and potential. Her journey is a testament to her hard work, adaptability, and leadership qualities, positioning her as a future global leader in the world of product design.

The post Nkeiruka Ifeonu on Designing a Pharmacy Benefit Solution for a Crippling Economy appeared first on Tech | Business | Economy.

However, African freelancers continue to face huge pay gaps compared to their counterparts in other regions.

This inequity not only affects individual livelihoods but also hampers the potential for economic growth and development across the continent.

Tammwe, a pioneering platform, is set to bridge this gap and provide African freelancers with the opportunities and recognition they deserve.

By connecting talented professionals with global companies, Tammwe aims to create a more equitable and inclusive freelancing industry.

The Pay Gap in Freelancing: An African Perspective

Freelancers in Africa face considerable challenges when it comes to earnings. Recent studies reveal that African freelancers often receive way lower pay compared to their peers in other regions.

For instance, a survey conducted by Payoneer showed that the average hourly rate for freelancers in Africa is around $16, whereas freelancers in North America and Europe command rates averaging $23 and $21, respectively.

This disparity arises not only from differences in the cost of living but also the biases and limited access to high-paying clients and projects.

Despite possessing skills that meet global standards, African freelancers frequently encounter prejudices and stereotypes that undermine their earning potential.

This systemic issue is compounded by the lack of platforms advocating for fair compensation and providing access to a broader market.

Tammwe’s Vision: Empowering African Talent

Tammwe is on a mission to change the narrative for African freelancers by offering a platform that connects them with global companies and champions equitable pay.

The company’s innovative approach leverages technology to bridge the gap and promote the diverse talent that Africa has to offer.

Tarrah Nhari, CEO and co-founder of Tammwe highlights the importance of the company’s mission: “We have made so much progress with our product while leveraging talent from Africa. We cannot wait for the launch.” 

Mweemba Ntembe, COO and co-founder, further emphasises the platform’s commitment to bolstering African talent: “We are so proud of where we are today. One year in and we have built a team from all over the world. Our team is virtual, and most of them are from Africa. We have valuable talent in Africa, and we are proof of that.”

Tammwe’s virtual team, predominantly comprised of African freelancers, stands as a testament to the continent’s untapped potential. By showcasing the skills and capabilities of African professionals, Tammwe is paving the way for a more equitable and inclusive global freelancing market.

How Tammwe is Making a Difference

Tammwe is transforming the freelancing industry for African professionals by addressing key challenges that hinder their growth and success.

Through a holistic approach that includes connecting talent with global opportunities, advocating for fair compensation, and fostering an inclusive community, Tammwe is paving the way for a more equitable and dynamic freelancing ecosystem.

Here’s how Tammwe is making a significant impact:

1. Connecting Talent with Opportunity: Tammwe provides a platform that links African freelancers with global companies, ensuring that they have access to high-quality projects that match their skills and expertise.
2. Championing Fair Compensation: The platform advocates for fair pay by ensuring that African freelancers receive competitive rates comparable to their global counterparts.
3. Breaking Stereotypes and Bias: Tammwe is committed to breaking down the barriers that prevent African freelancers from achieving their full potential, challenging stereotypes and biases that limit their opportunities.
4. Building a Diverse and Inclusive Community: By facilitating a diverse and inclusive virtual team, Tammwe demonstrates the value of African talent and promotes a culture of collaboration and mutual respect.

The Future of Freelancing with Tammwe

As Tammwe prepares for its official launch, the platform is well prepared to significantly impact the freelancing industry. 

By empowering African freelancers and connecting them with global opportunities, Tammwe goes beyond bridging the pay gap and also contributing to the broader goal of economic development and growth in Africa.

The journey is just beginning, and with leaders like Tarrah Nhari and Mweemba Ntembe, Tammwe is set to bolster the future of freelancing for African professionals.

As Mweemba Ntembe says: “We have valuable talent in Africa, and we are proof of that.”

With its commitment to excellence and equity, Tammwe is not just bridging the gap – it’s building a new bridge to a brighter future for African freelancers and the global companies it serves.

The post How Tammwe is Empowering African Freelancers on the Global Stage appeared first on Tech | Business | Economy.

This applies not just internally, guiding business strategies, but also externally, fostering trust with stakeholders like investors and creditors.

The digital revolution has ushered in a golden age for financial management. Gone are the days of tedious manual processes.

Today, a plethora of user-friendly apps, accessible on smartphones, streamline every aspect, from credit card transactions to customer interactions and invoice management.

These tools are not just convenient; they’re cost-effective, saving businesses precious time, money, and energy.

Today, every financial function, from basic calculations to complex data analysis, has a dedicated app. This dream is becoming reality, with solutions catering to businesses of all sizes.

By leveraging these tools and achieving seamless data synchronization, businesses can free up valuable resources to focus on growth.

The impact on small businesses, particularly in developing economies like Nigeria, has been transformative. Prior to these advancements, calculating daily transactions was a formidable task.

Traditional accounting, a multi-step process encompassing identification, recording, measurement, classification, verification, summarization, analysis, interpretation, and communication of financial information, was a significant burden for many small business owners.

Small and medium-sized enterprises (SMEs) are not only crucial in stimulating economies, but they also play an important role in the drive towards technology and innovation, which is fundamental to Nigeria’s economic development.

Nevertheless, SMEs are hindered in embracing meaningful approaches that are fundamental to managing the digitization of financial services, both in the form of basic payments and in engaging in digital finance for broader financial transactions.

For an uninformed entrepreneur, navigating this complex process to determine profit or loss, asset value, and liabilities was a daunting challenge.

Fortunately, accounting apps have democratized financial management, empowering even those without formal training to gain crucial insights into the health of their business.

This not only improves internal decision-making but also lays the foundation for building trust with external stakeholders, ultimately propelling business growth.

Oluwafolakemi Evelyn Aina, the co-founder of Finledger, provided insights on the issue.

According to her, while effective management software might be expensive for several SMEs, it should not be viewed as luxury, but an investment in efficiency and ultimately, profitability.

In her words:

”Most Small businesses especially with the state of the economy now are struggling to keep up while still maintaining control of their finances and other aspects of the business. While most of them require management software to help manage their business better, they would not due to cost.

“I have had people say ‘I don’t think I can afford anything of such because they are usually expensive.’While every business should be focused on profits, it is also important to reduce cost.

The founder also argues that hybrid management tools, with their emphasis on ease of use, are a valuable asset for busy SME owners and solopreneurs, allowing them to streamline operations and focus on growth.

The major problem with small-scale entrepreneurs is the crucial bottleneck of finance, depending on the availability of financial resources, which are mostly bank credit, to meet both their short-term and long-term needs.

Furthermore, there are other factors that act as constraints to small business development, such as management, outdated technology, lack of geographical location, as well as lack of infrastructure to support the production efforts of the small businesses. However, Finledger offers seamless solutions to these business gaps.

According to Aina, with traditional paper-based record-keeping for business finances creating inaccurate financial records for SMEs, Finledger aims to empower businesses with a user-friendly app that streamlines financial record-keeping, fosters transparency, and ultimately positions them for success in areas like attracting investment and achieving growth.

“Finledger is looking to help businesses with proper management and recording of their finances , what I mean is instead of going through the hassle of recording on a piece of paper, we want to, and we will come up with a solution whereby people can use an app to get their accounting records done with automate calculations.

“If the finances of a business is not accurate, and transparent and easy to read and translate by prospective investors, for example it could really pose a problem for such a business hindering them from funding opportunities and more.”

It is becoming more imperative for Nigerian SMEs to embrace digital financial management applications.  These tools hold the key to unlocking exponential growth and optimized business outcomes.

However, despite the undeniable benefits – from streamlined record-keeping to insightful data analytics – a significant number of Nigerian SMEs remain hesitant.

The post Enterprise Management Solution Should Be Viewed Investment in Efficiency than Luxury – Oluwafolayemi Aina appeared first on Tech | Business | Economy.

It’s like a small step towards a new system for finance in the future. Even people who have been using Bitcoin for a long time still find it exciting.

Some people who are very interested in Bitcoin even travel long distances to find stores that accept it, even if they could buy the same thing closer to home. This is because they enjoy the experience of using Bitcoin and being part of something new.

The future looks even brighter. With growing awareness and a shrinking education gap surrounding cryptocurrencies, an estimated quarter of all online businesses are projected to offer cryptocurrency payment options by 2025.

A report by Checkout.com paints a clear picture – 77% of merchants accepting cryptocurrency have witnessed a surge in cross-border sales.

This translates to increased revenue, wider market reach, and a chance for emerging economies to truly compete on a global scale.

The question now is: how many Nigerian stores will accept Bitcoin in the future? How can people who already use Bitcoin help get more stores on board?

Achigonye Johnpaul a crypto-enthusiasts and founder of Coinazer speaking to Techeconomy said that more and more people are using cryptocurrency for international payments, but it will not happen as quickly as some people think. Bitcoin, like many other new technologies, needs time for people to get used to it.

“Using cryptocurrency for international payment relations is happening, but the growth and adoption is not going to be as swift as is predicted. Crypto has to pass its adoption stage, just like other technologies that have evolved over time globally.

“A lot of people are seeing the benefits of cryptocurrencies and how they can use it to hedge against inflation. Most businesses are beginning to see the importance and global adoption for trade payment will increase,” said JohnPaul.

The digitalization of national currencies is not just a technological upgrade; it’s a revolutionary leap that promises to reshape the very foundation of our financial systems. These digital tokens, secured by distributed ledger technology (DLT),  function  like  containers of value.

The implications are nothing short of transformative.  DLT, with its decentralized and transparent nature,  has the potential to streamline transactions, enhance security, and reduce costs.

The transition will not be without challenges. Regulatory frameworks need to adapt to this new landscape, and ensuring consumer protection in a decentralized environment requires careful consideration. Speaking on this, JohnPaul said:

“It is impossible for crypto-based payment to replace traditional payment methods. I expect to see both of them working together. Traditional payment methods will remain as long as possible while crypto-based payment takes its place in the global trade scene. People are still getting to understand crypto. As this understanding increases, so will adoption.

Johnpaul also brings up an important issue: government regulations. He believes that the Nigerian government is slowing down the growth of cryptocurrency adoption.

Johnpaul believes that young people and private businesses have a big role to play in making Bitcoin more popular.

“The several cases with blockchain companies shows that the government is not even ready to benefit from Blockchain technology. It is now down to the youths and private businesses to seize the opportunities around crypto.”

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