For companies operating in this space, the challenge is no longer limited to expanding reach, but increasingly about building financial infrastructure that is accessible, practical, and designed around how people and businesses actually operate.

Wave’s participation in GITEX Africa this year reflects this shift, as the company engaged in conversations around digital identity, interoperability, embedded finance, and regional scale, all of which point to a growing emphasis on systems that support real economic participation.

Malick Gueye, general manager of Wave Senegal, highlighted how financial innovation is already shaping daily life across markets.

“Across our markets, financial innovation is no longer a future concept. It is already changing how people pay, run businesses, manage their activity, and access opportunity. At Wave, we believe the most meaningful innovation is the one that remains simple, practical, and deeply anchored in local realities. That is how you build solutions that truly scale and create lasting impact.”

This reflects a broader structural shift underway across African markets, where financial services are increasingly embedded into the daily flows of commerce, mobility, and entrepreneurship, rather than existing as standalone products.

As part of this transition, Wave also contributed to discussions on embedded finance and the evolution of digital ecosystems, where the focus is shifting toward integrating financial services into platforms and user experiences.

Karamokho Badiane, regional director of Business Development at Wave, emphasised the importance of designing systems that reflect local realities.

“The future of money in Africa will be built from African realities. It is not only about moving transactions from cash to digital. It is about building infrastructure that is intuitive, resilient, and relevant to the way people and businesses actually operate. At Wave, that is the foundation of our vision, and it is what continues to guide our growth across the region.”

Beyond product design, the conversations at GITEX Africa also highlighted the importance of ecosystem development, from strengthening digital identity systems to improving interoperability across markets, supporting more seamless financial experiences.

Wave’s participation in the Senegalese delegation side event further reflected this broader commitment to supporting entrepreneurship and innovation across the continent, particularly by helping elevate local founders and connect them to wider opportunities.

For Coura Tine Sene, regional director and Head of Public Affairs at Wave, GITEX Africa continues to play an important role in shaping the continent’s digital agenda.

“GITEX Africa has become a key platform for shaping the continent’s digital agenda. For Wave, being present as a supporting sponsor, contributing to high-value strategic conversations, and helping spotlight entrepreneurs on a continental stage all reflect the same conviction: Africa’s digital future must be built through bold partnerships, strong ecosystems, and inclusive innovation that creates real impact.”

As Africa’s digital economy continues to evolve, the focus is increasingly shifting toward building financial systems that are not only accessible, but also practical, scalable, and embedded in everyday economic activity, supporting a more connected and resilient future across the continent.

This appointment comes on the heels of Wave’s recent $137 million debt funding round aimed at scaling its operations in both new and existing markets. 

Having recently entered the Cameroonian market, Wave is positioning itself to compete for market share with already established telecoms like MTN and Orange in the country. 

The company currently operates in eight African countries, including Senegal, Côte d’Ivoire, Mali, The Gambia, Burkina Faso, and Cameroon.

Ndjodo is a digital financial services specialist with over two decades of experience in both local and international management roles. His career spans the telecoms, oil, and consulting sectors, and he previously served as MTN Cameroon’s Senior Mobile Money Manager.

Wave officially entered Cameroon through a strategic partnership with Commercial Bank Cameroon (CBC).

Authorised by the regional banking regulator, Cobac, the partnership allows CBC clients to perform cash deposits, withdrawals, pay bills, receive international transfers, buy airtime, and move money between mobile wallets and bank accounts.

In his new role, Ndjodo is tasked with sustainably establishing Wave’s presence in Cameroon and positioning the fintech to tap into the country’s fast growing and competitive financial services market.

Every year, millions of dreams are launched as small businesses across Nigeria, but most never make it past the starting line. 

According to the Small and Medium Enterprises Development Agency (SMEDAN) reports that over 70% of MSMEs shut down before their fifth anniversary.

Behind these numbers are passionate entrepreneurs and bold ideas, all lost to a mix of predictable pitfalls and avoidable mistakes.

How can you avoid becoming part of this grim statistic? And what must you do to escape the trap? Let’s unpack it.

Starting without solving a real problem

Many Nigerian entrepreneurs start businesses based on passion, or quick trends rather than validated market needs.

This is a weak business foundation. I have seen people start businesses with so much passion without the market validation, yet they wonder why no one wants what they are selling. They simply have products or services that no one really wants to pay for.

If your solution lacks product-market fit, then it can’t fit. Solutions not tailored to real market pain points will be rejected by the market.

You may decide to copy what seems to work in other countries without adapting to local realities and fail. If you lack a deep customer understanding, validated demand, and unique value propositions, you won’t go far in business.

To have a business that thrives, start with the customer – understand their needs, wants, and preferences. Use tools like surveys, interviews, and prototypes to validate your idea before you go all in. If people won’t pay for your solution, it’s not a business but a hobby.

Poor business structure and systems

I have had the privilege of working with scores of businesses in Nigeria, and one thing is very evident – they lack basic operational systems and structure.

Too many businesses run informally. Informality may seem like an advantage early on, but it ultimately limits long-term growth and institutional credibility.

There is no formal business plan or strategy, and no succession planning or organizational structure. You will see this in their poor record-keeping and financial management.

This may work for a while until it doesn’t. Growth and scalability require a good structure. 

Without systems and structure, a business is entirely dependent on the founder’s energy and presence, which is unsustainable.

You must treat your business like a real company from day one. Register it, keep records, separate personal from business finances, and build basic systems, even if it’s just on Excel or Google Sheets to start. Structure and systems are the bridge to scalable success.

Poor financial management

A lot of businesses are not investor-ready, and so they can’t attract appropriate funding. Access to funding is a challenge, yes.

But more critical is what entrepreneurs do with the little they have. Misuse and mismanagement have done more damage than poor funding. From mispricing to poor budgeting and unnecessary expenses, many businesses bleed slowly before crashing.

Some business owners have overburdened themselves with over-reliance on short-term loans with high interest. Some others lack understanding of unit economics and return on capital.

The truth is, capital doesn’t fix foundational flaws. Funding amplifies either success or failure. If the business model is weak, more money accelerates its collapse.

So, learn the basics of financial literacy. Understand your numbers such as cost, margin, break-even point, and cash flow.

Tools like Wave, Zoho Books, or even a simple spreadsheet can help track income and expenses. If you don’t control your money, it will terribly control you.

Talent gaps and poor HR management

There is talent troubles and team dysfunction. Hiring friends or family without clear roles, zero training, or accountability is a recipe for disaster.

A business can’t grow faster than its people. As vast as Nigeria is, there is still a low availability of skilled labour that will meet the demands of the new economy. 

Again, building the right team is a major struggle because of poor leadership and people management skills among founders.

This has resulted in high employee turnover. Execution is what separates ideas from results. And execution is done by people. Weak teams kill great ideas; strong teams pivot and survive.

You should be intentional in building a committed team that believes in your vision and invest in their growth. Define their roles and responsibilities clearly. And don’t underestimate the power of culture. How your team works matters as much as what they work on.

Thinking short-term instead of building to last

Many founders chase quick wins instead of building long-term value. There is the case of jumping into multiple ventures without building depth. Building a business is a marathon, not a sprint. Visionary founders delay gratification to create sustainable value.

Many entrepreneurs chase fast money, underprice to attract customers, skip branding to save costs, or neglect long-term planning.

To avoid business failure, you must play the long game, build trust, and deliver consistently. A loyal customer base, strong reputation, and steady growth will always outlast hype and shortcuts.

Business success anywhere is hard. In Nigeria, it’s even harder but not impossible. Most businesses here fail due to a complex interplay of internal weaknesses and systemic external challenges.

The entrepreneurs who win are not always the smartest or richest. They’re the most strategic, and customer-focused. They treat learning as a lifestyle, data as a compass, and execution as king.

The businesses that succeed today don’t just beat the odds; they understand them and build differently. It’s not just about surviving but thriving.

So, if you’re building something, don’t just aim to launch but to last. Understand the terrain. Learn the rules, and break the ones that no longer serve you. 

I’ve been there. Manually updating spreadsheets? No, thanks.

The truth is, I didn’t need to work harder—I needed to work smarter. That’s where accounting apps came in.

They’re not only convenient, they actually save you time, prevent mistakes, and help you understand where your money is going.

Here are five accounting apps that changed the game for me—and might do the same for you.

1. Zoho Books:

Zoho Books is part of the larger Zoho suite, but even on its own, it’s a heavyweight. Time tracking, inventory, expense management—it’s all there. I love how it gives real-time data, which helps users make fast decisions. Plus, it integrates with payment gateways, so collecting money is less of a chore.

2. Xero:

Xero is a double-entry accounting tool with features like project tracking, invoicing, and inventory management. Its built-in multi-currency support makes it ideal for business owners who sell internationally, allowing you to view real-time currency conversions without leaving the app.

3. QuickBooks Online:

A favourite among small and medium-sized businesses, QuickBooks Online offers comprehensive accounting solutions—from tracking expenses and managing income to advanced features like payroll, tax reporting, and in-depth analytics.

4. FreshBooks:

FreshBooks is a cloud-based accounting software solution known for its easy-to-use interface. It offers key solutions like expense tracking, invoicing, automated expense categorization, double-entry accounting, and financial reports for assessing your business health.

5. Wave:

Wave provides basic accounting features and online payment processing. For those looking for a customizable invoice, this is perfect for you as Wave provides templates that can be personalized with your business logo.

It also offers automatic import of online bank and credit card transactions, coupled with built-in personal finance tools, helpful for separating business and personal spending.

These are tools for anyone who wants to stop guessing and start making smarter financial decisions, not just accountants.

Whether you’re dealing with loads of clients, suppliers, or just trying to figure out where your salary went last month, there’s something here that’ll make life easier.