The move fundamentally altered the perception of African tech talent and created a multi-billion-dollar success story.

Now, another Lagos-based company, Smartcomply, is making a similar, arguably more complex, bet on the future of the continent’s digital infrastructure.

The company’s training division, Smartcomply Academy, has quietly secured full accreditation from the American Accreditation Association (AAA), transforming it into a global certification body.

While this may sound like corporate jargon, its implications are profound. It means that for the first time, a local institution can mint cybersecurity and compliance professionals whose qualifications are, by default, recognized in any tech hub globally, presenting a formidable African-led alternative to established foreign bodies like Canada’s PECB, which have long dominated the market.

This is not happening in a vacuum. It comes just weeks after Smartcomply launched a comprehensive Partner Program, an initiative designed to arm local IT consultants and service providers with its suite of security tools.

When viewed together, the strategy becomes crystal clear: Smartcomply is building a full-stack ecosystem.

On one hand, it’s creating a scalable distribution channel through its partners. On the other, it’s now providing the internationally recognized training to guarantee the people deploying its technology are world-class. It’s a powerful, self-reinforcing loop designed for market dominance.

“This accreditation is the ultimate validation of our mission,” Daniel Obot, who heads the Academy, told Techeconomy. “It means a professional we certify as a Lead Implementer in Lagos has the same stamp of authority as one certified in London or New York. We’re not just teaching; we’re certifying to a global standard, with the added benefit of deep local context that international players often lack.”

For a continent grappling with talent migration, this is a significant development. It provides a powerful incentive for local professionals to get certified at home, knowing their credentials have global currency.

It also provides a turnkey solution for the hundreds of tech companies across the continent struggling to find and validate talent for critical roles like Data Protection Officers (DPOs) and ISO 27001 auditors—roles that are mandatory for international expansion and investment.

While competitors focus on selling software licenses, Smartcomply is playing a longer, more intricate game.

It is building the human and technological infrastructure simultaneously. This is a bold, ecosystem-first approach that suggests the company isn’t just aiming to be a vendor, but the foundational platform for African tech security.

This was the sharpest decline in over two years, pulling valuations below levels seen throughout most of the 2021–2022 cycle. However, the sell-off was far from uniform.

While Bitcoin has shed less than 20% at the beginning of April, altcoins have experienced a 41% wipeout, underscoring a distinct capital flight towards more established digital assets.

Most recently, Bitcoin has managed to recover and even set a new all-time high, surpassing the critical $110,000 mark on 21 May. At the same time, other crypto majors—notably, Ethereum and XRP—continue to trade substantially below their recent peaks (see the chart below).

As capital retreated from riskier altcoins, investor sentiment has soured, prompting Coinbase to warn of an emerging ‘crypto winter’ scenario. Global broker Octa, active in digital asset transactions, sees this as a decisive phase of risk reallocation, with traders seeking clarity before any meaningful return to risk.

Major crypto coins’ performance in 2025

Several stress points are converging:

• Venture capital (VC) funding, though up from Q4 2024, remains 50–60% below 2021–22 levels.
• Liquidity conditions are tightening, particularly for smaller projects.
• Macro headwinds—including rising global tariffs and macroeconomic uncertainty—have paralysed risk appetite.

More speculative corners of the market, such as tokens used for Decentralized Physical Infrastructure Networks (DePINs), memecoins and coins used for Artificial Intelligence (AI) agents, have been hardest hit. Their underperformance highlights growing investor caution.

Kar Yong Ang, a financial market analyst at Octa broker, explains: ‘As of right now, the market clearly sees more value in Bitcoin vs the rest of the crypto universe.

The global macroeconomic situation is highly unstable, with tariffs drama still unfolding and rising protectionism potentially threatening the U.S. dollar’s reserve currency status. As a result, investors’ capital has migrated from high-risk crypto space like alt-coins into relatively low-risk Bitcoin. In fact, Bitcoin has become a sort of “safe-haven coin” of the crypto market’.

Indeed, broader financial markets have become increasingly concerned about the deteriorating U.S. twin deficits (fiscal and trade), both of which are on an unsustainable trajectory.

The yields on the U.S. 20-year government bonds rose above 5.15% on 22 May, almost a two-year high, while the U.S. Dollar Index (DXY) dropped below the critical 100 mark, reflecting eroding confidence in the USD’s safe-haven status.

Furthermore, ratings agency Moody’s downgraded the U.S. sovereign rating, one notch down from ‘Aaa‘ to ‘Aa1‘ due to concerns about the nation’s growing debt. Concurrently, most cryptocurrencies continue to act as high-beta proxies for global sentiment, and in today’s global macroeconomic environment, that sensitivity is proving to be a significant headwind.

Tariff disputes between the U.S. and China, macroeconomic uncertainty, and declining equity market performance are all contributing to a reduction in overall risk appetite, thereby negatively impacting most cryptocurrencies. However, Bitcoin appears to be a major exception in this regard.

Kar Yong Ang explains:

‘At first, the BTC rally appeared to be highly speculative: the market had positively reacted to Trump’s softer stance towards the Federal Reserve (Fed) Chairman and U.S.-China trade deal. Later, however, Bitcoin became the only major crypto coin to set a new all-time high. It suggests a continuing flight to perceived safety within the crypto universe, while alt-coin flows remain diminished’.

Still, the ongoing macroeconomic uncertainty and potential failure of the U.S. to resolve its trade tensions with China and the European Union (EU) could act as an immediate catalyst, potentially triggering a renewed bearish phase for Bitcoin.

Just recently, U.S. President Donald Trump’s threat to impose 50% tariffs on the EU triggered a classical risk-off move—a sell-off in BTCUSD and a rally in XAUUSD.

Traders and long-term investors should keep a close eye on:

• the total market cap, excluding BTC
• fluctuations in VC funding
• headlines impacting regulatory frameworks in the U.S., EU, and Southeast Asia
• any news related to the ongoing trade disputes and the possibility of trade negotiations.

Tactical patience will be essential this summer. Rushing in to buy Bitcoin now may be unwise, but carefully buying the dips is more reasonable. Key levels to watch are 105,000, 98,000, 94,000, 89,000, and 84,000.

Compliance reminder: trading Contracts for Difference (CFDs) carries a high level of risk and may not be suitable for all investors. Emotional trading can increase this risk. Always trade within your means and understand the risks involved.

Disclaimer: This article does not contain or constitute investment advice or recommendations and does not consider your investment objectives, financial situation, or needs. Any actions taken based on this content are at your sole discretion and risk—Octa does not accept any liability for any resulting losses or consequences.

Octa is an international broker that has been providing online trading services worldwide since 2011. It offers commission-free access to financial markets and various services used by clients from 180 countries who have opened more than 52 million trading accounts. To help its clients reach their investment goals, Octa offers free educational webinars, articles, and analytical tools.

The company is involved in a comprehensive network of charitable and humanitarian initiatives, including the improvement of educational infrastructure and short-notice relief projects supporting local communities.

Since its foundation, Octa has won more than 100 awards, including the ‘Most Reliable Broker Global 2024’ award from Global Forex Awards and the ‘Best Mobile Trading Platform 2024’ award from Global Brand Magazine.

In the recently released survey results, Stanbic IBTC emerged as a leader in retail, SME and corporate segments, securing the prestigious top spot in the KPMG experience score in retail and SME.

The Bank also claimed the third position in the corporate banking category.

The remarkable feat was sequel to the Group’s impressive performance in the 2022 edition of the survey, where the Bank claimed the number one spot in both retail and corporate banking categories.

KPMG’s research report emphasised Stanbic IBTC’s outstanding performance, citing excellence across critical aspects of the customer journey in the retail and SME segments.

The report attributed the success to the Bank’s unwavering commitment to innovation and a customer-centric approach.

Notably, the strategic focus on customer onboarding, particularly through a customer entrenchment strategy, was highlighted as a pivotal factor in this well-deserved recognition.

Expressing his delight at the recognition, Dr ‘Demola Sogunle, chief executive, Stanbic IBTC Holdings, stated;

“This achievement is a testament to our profound commitment to providing exceptional banking experience to our customers. We are proud to be recognised for our efforts in retail, SME, and corporate banking, and we will continue to innovate and prioritise our customers in all aspects of our operations.”

The survey, now on its 17th edition in Nigeria since its inception in 2007, covered an extensive customer base, with wide-ranging retail banking customers, thousands of SME banking customers, and hundreds of corporate banking customers participating in the research.

The rankings were based on the six pillars of performance – empathy, integrity, time, effort, expectation, and personalisation.

Wole Adeniyi, chief executive, Stanbic IBTC Bank, added, “Our success in this survey reflects the hard work and dedication of our team and the effectiveness of our customer-centric strategies. We will build on this momentum and continue to raise the bar in delivering superior banking services to our diverse customer base.”

Earlier this year, Fitch Ratings reaffirmed the National Long-Term Ratings of Stanbic IBTC Holdings and Stanbic IBTC Bank Limited at ‘AAA (nga).’

Fitch also assigned stable outlooks to the ratings, which underscored the financial institution’s resilience in a challenging operating environment, recognising its sound asset quality, robust capitalisation, consistent profitability, and the strategic importance of being a member of the Standard Bank Group.

There are struggling implications of making sense of sustainability, especially in the major monolithic economies that characterise the global south nations of the world.

Statistics are not just mere to justify that the proliferation of long-term impact of carefree extension that lacks a deep sense of sustainability is upgrading calamity to nations’ economies.

In today’s interconnected world, the increasing reliance on digital technologies has made cybersecurity a critical concern for individuals, businesses, and governments.

This is especially true in global south nations, where extending the developing economies stays as an accentuation.

It begins to trend in such an economy, essentially, where the adoption of cybersecurity measures is essential for fostering economic growth, protecting sensitive data, and safeguarding and securing critical infrastructures.

However, while the deployment of cybersecurity tools is vital, it is equally important to ensure that these efforts contribute to the long-term sustainability of the environment and society.

Such an emphatic call could play a vital role in promoting a robust digital economy with highly sustainable intentions.

An advocacy strategy to prioritize sustainability in the deployment of cybersecurity tools in developing economies should centrally focus on promoting the adoption of environmentally friendly and socially responsible practices within the cybersecurity industry. Such a strategy provides a scaling technique to drive positive implications sustainably.

Also, the AAA aims to raise awareness, drive policy changes, and encourage the integration of sustainable principles in the development, deployment, and management of cybersecurity solutions.

Advocacy efforts can play a significant role in influencing decision-makers, industry leaders, and stakeholders to recognize the importance of sustainability in cybersecurity deployment.

By highlighting the environmental and social impact of cybersecurity tools, advocates can drive conversations and actions that lead to the prioritization of sustainable practices.

This can encompass the responsible sourcing of materials, energy-efficient development processes, waste reduction, and the promotion of inclusive and ethical business practices within the cybersecurity industry.

One of the key aspects of an advocacy approach is the education and empowerment of stakeholders. By providing training, resources, and expertise, advocacy groups can help raise awareness about sustainable cybersecurity practices and build capacity within developing economies.

Further, AAA can involve collaborating with local organizations, academic institutions, and government agencies to develop tailored pedagogical and in fact, andragogical programs that promote sustainable cybersecurity deployment.

Likewise, advocacy can support the development of regulatory frameworks and standards that incentivize sustainable cybersecurity practices. The deployment is all about making information technology good for society by engaging with policymakers, industry associations, and international organizations.

Advocates can push for the integration of sustainability criteria into procurement processes, certification programs, and industry guidelines. This can create an environment where businesses and governments are encouraged to prioritize sustainable cybersecurity solutions, ultimately driving positive change in the industry.

In addition to influencing policy and promoting awareness, advocacy can also facilitate partnerships and collaborations that promote sustainable cybersecurity deployment.

By bringing together industry players, technology providers, and sustainability experts, advocates can foster the exchange of knowledge and best practices.

These partnerships can lead to the development of innovative solutions, the sharing of resources, and the establishment of networks that support sustainable cybersecurity initiatives in developing economies.

An advocacy approach can also focus on promoting the economic benefits of sustainable cybersecurity deployment.

By highlighting the potential for cost savings, enhanced reputation, and market opportunities, advocates can make a compelling case for prioritizing sustainability.

This can be especially impactful in developing economies where resource efficiency and competitiveness are critical factors for success.

Moreover, advocacy efforts can drive the creation of awareness campaigns that engage the public and raise the profile of sustainable cybersecurity practices.

By leveraging media, social platforms, and community events, advocates can communicate the importance of sustainability in cybersecurity deployment and encourage individuals to demand sustainable solutions from businesses and governments.

This can create pressure for change and support the momentum for sustainable practices within the cybersecurity industry.

In conclusion, an advocacy approach to prioritizing sustainability in the deployment of cybersecurity tools in developing economies is essential for driving positive change.

By raising awareness, influencing policy, fostering collaboration, and promoting economic benefits, advocates can play a crucial role in integrating sustainable principles into the cybersecurity industry. With a concerted effort to build capacity, shape regulations, and drive public engagement, sustainable cybersecurity deployment can become a reality, contributing to the long-term well-being of both the environment and society.

The award ceremony, widely acknowledged as the ‘Oscars of the Banking Industry’, took place in London on Thursday, 30 November 2023.

The Banker Magazine’s acknowledgment of Stanbic IBTC Holdings for its exceptional achievements in banking excellence, adept navigation of industry challenges, and commitment to providing innovative financial services to clients reflects the trust bestowed upon the institution by key stakeholders in the industry.

Dr. Demola Sogunle, Chief Executive of Stanbic IBTC Holdings, expressed his gratitude during the ceremony as follows:

“Receiving the ‘Bank of the Year’ award from The Banker Magazine is a tremendous honour and a testament to our unwavering commitment to excellence. This achievement reflects the collective effort of our dedicated team and our strategic initiatives aimed at delivering superior financial performance and addressing the evolving needs of our clients.”

Mr. Wole Adeniyi, Chief Executive of its banking subsidiary; Stanbic IBTC Bank Limited also shared some insights on the achievement, he stated:

“This recognition is a validation of our continuous efforts to address industry challenges, develop new markets, and extend our financial services to a broader audience. The ‘Bank of the Year’ award is not only a celebration of our achievements but also a reminder of our responsibility to lead and innovate in the global banking landscape.”

Earlier this year, Fitch Ratings reaffirmed the National Long-Term Ratings of Stanbic IBTC Holdings and Stanbic IBTC Bank Limited at ‘AAA(nga).

Fitch also assigned stable outlooks to the ratings, which underscored the financial institution’s resilience in a challenging operating environment.

The rating recognised the institution’s  sound asset quality, the strength of its corporate and investment banking franchise, robust capitalisation and consistent profitability.

The rating also considered the strategic importance of Stanbic IBTC Holdings being a member of the Standard Bank Group and the integral role of the Group’s Nigerian operations.

Stanbic IBTC Bank occupies the first position with a 73.8 CX score out of 100 in the retail segment and sustained the leading position for the second consecutive year.

Time and effort are the drivers of performance in the retail category, and the Bank outperformed its peers in this regard.

Stanbic IBTC Bank which held the top position in the retail and SME segments last year, performed well across key customer journey areas, particularly in resolution – a key area of improvement for the industry where customers rate banks on timeliness and quality of feedback on issues as well as the ability and ease of reporting issues and concerns.

Other customer journey areas where Stanbic IBTC Bank came tops include discovery – the ease of getting information about the Bank coupled with professional and friendly staff, the ease of account opening with digital-only options and the speedy onboarding process.

Stanbic IBTC Bank is among the top three in transacting – accessibility, timeliness, and quality of service from physical and digital channels, and in account maintenance which covers requests for account statements, general enquiries and updates to account information with accuracy and completeness.

Moving up five places compared to last year’s report, Stanbic IBTC Bank also emerged as this year’s leader in the corporate segment with an 80.9 score out of 100 and received great feedback on the depth of their relationship managers’ knowledge in key sectors.

The report also revealed that Stanbic IBTC successfully closed the gap in digital banking, emerging as a clear leader in the industry .

Speaking on these achievements, Wole Adeniyi, Chief Executive, Stanbic IBTC Bank, said, “The primary goal of the bank is to forge lasting relationships with its clients by offering timely, creative, and valuable solutions that benefit them. We are fully committed to serving Nigerians with top-notch financial services.”

According to Wole, “2022 has been remarkable for us at Stanbic IBTC. Asides from these good standings revealed by the KPMG report, the globally renowned credit rating agency, Fitch Ratings, also reaffirmed the retention of our National Long-Term ‘AAA (nga)’ and National Short-Term ‘F1+(nga)’ ratings for the Stanbic IBTC Group and Stanbic IBTC Bank respectively.”

“The National Long-Term ‘AAA (nga)’ and National Short-Term ‘F1+(nga)’ Ratings are the highest possible ratings on Fitch’s rating scale, and we were rated high based on the potential support from our parent company, Standard Bank Group, based in South Africa. We play a vital role in Standard Bank Group’s main operations in West Africa, and we retained our ratings based on our size and high operational integration,” Wole added.

Fitch Ratings assessed Stanbic IBTC’s strategic importance as the holding company for Standard Bank Group’s leading corporate and investment banking (CIB) and wealth businesses in Nigeria and Stanbic IBTC Bank’s position as an integral part of its Nigerian operations. It also considered Standard Bank Group’s controlling ownership of Stanbic IBTC, high integration of risk management, operations and strategy, shared branding, and Stanbic IBTC’s moderate contribution to Standard Bank Group’s net income.

The ‘AAA (nga)’ is given to issuers with the lowest expectation of default risk when compared with their competitors.

The National Short-Term Rating of ‘F1+(nga)’ is assigned to issuers that have a strong capacity for timely payment of financial commitments in comparison to other issuers in Nigeria.

Wole noted that the organisation’s competitive position, good risk profile, healthy funding, and liquidity position also facilitated its upgrade in the Global Credit Ratings (GCR).

The national scale long-term issuer rating assigned to Stanbic IBTC Bank PLC was upgraded to AAA(NG) from AA+(NG) and the national scale short-term issuer rating was A1+(NG), indicating a stable outlook and making Stanbic IBTC Bank the only financial institution in Nigeria with the rating.

Wole attributed the astounding performances of the organisation to the dedication and hard work of its workforce and the tenacity of the firm to continue to play vital roles in Nigeria’s economic development.

He stated that Stanbic IBTC would not relent in developing sustainable solutions that ensure customers’ delight and the company’s success in the Nigerian financial services spectrum.