Preparing for the GMAT (Graduate Management Admission Test) is a crucial step for anyone aspiring to pursue an MBA or other graduate management programs. With the GMAT Focus Edition in 2024, the test has been streamlined to three sections: Quantitative Reasoning, Verbal Reasoning, and Data Insights. Here’s a comprehensive guide on how to start your GMAT preparation effectively.

Step 1: Understand the GMAT Exam Structure

The first step in your GMAT prep journey is to familiarize yourself with the updated exam structure. The GMAT Focus Edition consists of:

• Quantitative Reasoning

This section includes 21 questions to be answered in 45 minutes. It focuses on problem-solving, testing your ability to analyze data, solve mathematical problems, and interpret information. The questions range from basic arithmetic to algebra, geometry, and data analysis. Understanding the format will help you plan your study time more wisely, focusing on the sections that require more attention and choosing the right GMAT prep tests from the start.

• Verbal Reasoning

Here, you’ll face 23 questions in 45 minutes. This section tests your ability to read and understand written material, reason, and evaluate arguments. It includes reading comprehension, critical reasoning, and sentence correction. Each question type requires a different approach, so knowing what to expect is key.

• Data Insights

This section has 20 questions to be completed in 45 minutes. It’s designed to assess your ability to analyze and interpret data from various sources. You’ll encounter data sufficiency, graphic interpretation, table analysis, multi-source reasoning, and two-part analysis questions. This section is unique to the GMAT and requires a blend of quantitative and verbal skills.

Step 2: Assess Your Current Abilities

Before diving into intensive study, take a diagnostic GMAT practice test. This will give you a baseline score and highlight your strengths and weaknesses. Use official GMAT practice tests available from GMAC or other reputable sources like Magoosh or Kaplan to ensure you’re getting a realistic simulation of the exam.

• Identify Weak Areas, look at your performance in each section. Are you struggling with quantitative problems or verbal reasoning? This initial assessment will guide your study plan.
• Set Realistic Goals – based on your diagnostic test, set achievable goals for your final score. Remember, the GMAT is adaptive, so your goal should be to answer as many questions correctly as possible, not just to aim for the hardest questions.

Step 3: Develop Your Study Plan

Create a Routine

Adopting a regular study schedule is key to effective GMAT preparation. Dedicate specific times each day or week for studying, ensuring consistency. This routine helps in activating your muscle memory and keeping your focus sharp.

• Regular study sessions, even if short, are more effective than cramming. Aim for at least 2-3 hours of focused study per day.
• Ensure your study plan fits around your work, family, and personal commitments. A balanced approach will prevent burnout.

Focus on Weak Areas

Identify your weak areas from the diagnostic test and prioritize them in your study plan. For instance, if you struggle with data sufficiency in the Data Insights section, allocate more time to practice these types of questions. Remember, it’s not just about memorizing but understanding how to apply what you know.

• Targeted Practice – use resources like the GMAT Official Guide Bundle 2024–2025 from GMAC, which includes over 1,600 real GMAT practice questions. This resource is invaluable for getting accustomed to the nature of the questions you’ll face on test day.
• Conceptual Understanding – don’t just focus on solving problems; understand the underlying concepts. This will help you tackle a variety of questions, not just the ones you’ve practiced.

Use Quality Resources

Invest in or access the GMAT Official Guide Bundle 2024–2025 from GMAC, which includes over 1,600 real GMAT practice questions. This resource is invaluable for getting accustomed to the nature of the questions you’ll face on test day.

• While the official guide is essential, supplement your study with other resources like Magoosh, which offers over 1,300 practice questions along with video explanations. This variety ensures you’re exposed to different question styles and difficulty levels.
• Regularly take full-length practice tests to simulate the test environment. This helps in managing time, reducing test anxiety, and understanding the adaptive nature of the GMAT.

Step 4: Practice with Purpose

GMAT Practice Questions

Engage with GMAT practice questions regularly. These should not only be from the official guide but also from other sources like Magoosh, which offers over 1,300 practice questions along with video explanations. This variety ensures you’re exposed to different question styles and difficulty levels.

• Focus on understanding each question type rather than just completing as many questions as possible. Quality practice leads to better retention and application of knowledge.
• After each practice session, review your mistakes. Understand why you got a question wrong and how to avoid similar errors in the future.

Time Management

The GMAT is as much about time management as it is about knowledge. Each section has a strict time limit, and you need to practice pacing yourself. For example, aim to spend about 2 minutes per question in the Verbal section, adjusting for the complexity of each question type.

• Develop strategies for each section. For Quantitative Reasoning, you might need to skip harder questions to ensure you answer easier ones correctly. In Verbal, focus on reading comprehension first, as it takes longer.
• Take practice tests under timed conditions to mimic the real test environment. This helps in managing stress and time effectively.

Step 5: Review and Adjust Your Strategy

Regular review is essential. After each practice session or test, analyze your performance:

• What went wrong? Identify the types of questions or concepts you missed. Were they due to lack of knowledge, misinterpretation, or time pressure?
• What can be improved? Adjust your study plan to focus more on these areas. Perhaps you need more practice with a particular question type or need to work on your reading speed.
• What strategies worked? Keep refining your approach based on what’s effective. Maybe you found that certain strategies for managing time or tackling questions were particularly successful.

Remember, the GMAT employs a computer-adaptive testing format where the difficulty of questions adjusts based on your performance. This means you need to be prepared for a range of question difficulties, not just the hardest ones.

Additional Tips for Success

• Customize Your Practice. Use tools like the GMAT™ Official Guide to filter questions by type and difficulty, allowing you to focus on your weaknesses. This targeted practice ensures you’re not just practicing for the sake of practice but for improvement.
• Simulate Test Conditions. Take practice tests under timed conditions to mimic the real test environment. This helps in managing stress and time effectively. Remember to take breaks as you would on the actual test day.
• Stay Updated. The GMAT evolves, so keep an eye on any updates or changes to the exam format or content. GMAC often releases new question types or adjusts the scoring algorithm, so staying informed is crucial.

By following these steps, you’ll be well on your way to mastering the GMAT Focus Edition. Remember, success on the GMAT isn’t just about hard work; it’s about smart work, strategic planning, and consistent practice. Good luck!

The rapid adoption of cryptocurrency takes place across African territories. The cryptocurrency market in Africa has an estimated revenue of US$2.9bn for 2025. Multiple factors drive this substantial interest because people use crypto as remittance tools and inflation protection while benefiting from simplified cross-border payments and asset protection.

The growing crypto market creates distinct business prospects for startups across Africa to apply blockchain technology and cryptocurrency solutions for problem resolution and new operational frameworks. The following information demonstrates how African startups can benefit from the recent crypto market expansion.

Leverage Crypto for Cheaper Cross-Border Payments

Sending money across African borders is complex, slow, expensive, and requires multiple intermediaries. Crypto offers a faster and more affordable alternative. The fees are a fraction of traditional remittances, while settlement is near instant.

Startups can build fiat-to-crypto gateways and payment platforms to facilitate cheaper remittances and commercial transactions within Africa. These platforms can also enable local merchants and online businesses to accept cryptocurrency payments, expanding access to digital commerce across the continent. With faster settlements, businesses can optimize working capital and reduce reliance on traditional banking infrastructure.

Bitpesa (now AZA Group) pioneered crypto remittances in Africa and now processes 12 million monthly transactions. There is still a massive untapped potential as African migrants send over 48 billion back home annually.

Offer Crypto-Based Savings and Wealth Management

Crypto assets like Bitcoin and Ethereum have become popular among tech-savvy Africans as a tool for wealth preservation and growth amidst currency devaluations and inflation.

Startups can leverage this interest by offering digital wallets with crypto-based savings and investment features. For the unbanked population, it offers an accessible way to save as well as shields them from inflation eating up the value of cash savings.

South African startup Revix is one example offering crypto bundles for easy investing, while Nigeria’s Busha allows crypto savings vaults. The opportunity to build wealth through crypto appeals strongly to young Africans.

Explore DeFi to Unlock New Business Models

Finance transforms Decentralized Finance (DeFi) because it reconstructs traditional lending services, coupled with borrowing and insurance, using blockchain technology and crypto.

Startups in Africa should utilize DeFi platforms to achieve both operational efficiency gains and business innovation through new sources of revenue. Startups gain independence from gatekeepers through DeFi, which enables them to add fintech services directly into their products.

Startups developing e-commerce shops can insert crypto payment options and lending solutions, and cashback incentives to enhance their merchant platform. Startups gain access to an exponential expansion of business opportunities through DeFi. Platforms like Inqud.com offer critical infrastructure and tooling that enable these startups to build and scale faster within the DeFi ecosystem.

Offer Crypto-Based Rewards and Loyalty Programs

Crypto’s features of programmability, together with composability, provide an excellent solution for developing extensive rewards and loyalty systems. Blockchain provides users with transparent data and unalterable records, which they find valuable.

All startup sectors, including fintech, e-commerce, gaming, QSRs, and others, can improve customer retention through crypto token rewards that increase in value.

Loyalty points operated by customers can function as freely transferable assets that generate yield instead of traditional reward programs, which restrict customer mobility.

Leverage Web3 Identity and Reputation Systems

Under Web3, people take charge of their identity data by obtaining full control of their online digital profile. Users can trust reputation systems that reside outside of centralized control to provide feedback functionality.

The adoption of Web3 identity and reputation systems provides startups with a competitive advantage that they should leverage. Safety improvements in ridesharing services become possible through reputation scoring systems that riders can access. A better curation system becomes possible through work history and skill verification systems on freelancing sites. The use cases are endless.

Attract Global Crypto Funding and Investors

The crypto asset boom has led to an enormous accumulation of capital looking to fund promising startups. Africa now boasts over 50 crypto hedge funds and VC firms eager to deploy here.

African startups can leverage this investor interest to raise funding globally more easily. They can also structure rounds to accept crypto payments, which don’t incur cross-border costs.

Build Token-Based Communities and Feedback Loops

Blockchain enables startups to easily launch crypto utility tokens that align incentives between the business and users. These tokenized communities can drive powerful growth flywheels.

As users engage more, they earn more tokens. This incentive draws in more users, creating a virtuous cycle. Tokens also build loyal communities with a vested interest in the platform’s success.

South African startup NFTfi pioneered this model with its NFT lending platform, seeing parabolic growth after its token launch. The incentives turbocharged user acquisition and engagement.

More startups should explore token-based feedback loops to build network effects and growth.

Explore Crypto Mining to Monetize Hardware and Energy

Crypto mining presents an alternate revenue stream for startups by monetizing underutilized computing hardware and energy capacity. When server loads are low, that spare capacity can mine crypto assets.

Energy-intensive sectors like cloud computing, e-commerce, and logistics can leverage their infrastructure at opportune times to mine. Similarly, remote telecom towers can use excess energy to mine rather than waste it.

South Africa’s Iceaddis mining startup helps firms optimize and deploy crypto mining to reduce energy bills and earn extra revenue. Crypto mining introduces new cash flows from existing capacity.

Evaluate Blockchain to Improve Systems and Processes

Beyond crypto, blockchain technology offers startups a modern foundation to reimagine systems and processes. Its decentralized approach eliminates intermediaries to enhance security, transparency, and efficiency.

African startups can assess backend processes – from supply chains to payments and record-keeping – that can integrate blockchain to reduce costs and risks. The transparency and trust also build credibility with customers.

Kenyan agritech startup Acre Africa employs blockchain to make lending more efficient and reliable for smallholder farmers. More startups should scope blockchain’s application in their domain.

Key Opportunities in Fintech, Digital Assets, and Web3

The sectors of fintech, together with digital assets and Web3, have the greatest potential for crypto adoption because these areas show the following features:

Crypto Asset Trading Platforms

The increasing interest in crypto creates substantial opportunities for startup firms to establish investment platforms that specifically address African users. New users will join platforms that provide token swap, staking, and savings alongside trading options.

Crypto-Based Lending and Credit Scoring

Crypto assets held by customers can provide alternate data to expand access to lending. DeFi protocols also enable startups to easily integrate credit within products.

Tokenized Investment and Savings Products

Fractionalized tokenization of assets like stocks, bonds, real estate, and invoices can open investing to wider African audiences. Crypto yields also incentivize savings.

Payment Gateways and Processors

Seamlessly enabling crypto acceptance allows startups to equip merchants to handle this emerging tender option.

Crypto Remittances and Settlement Networks

Fast crypto transfers allow startups to facilitate cheaper cross-border salary payments and supplier settlements on a large scale.

Crypto Mining Infrastructure and Management

Startups can convert underutilized resources into profit by assisting businesses in deploying crypto mining operations.

Digital Identity and Reputation Systems

New business operations can achieve user onboarding success for their partner platforms through self-sovereign identity technologies, which enable decentralized authentication while fighting fraud.

Tokenized Communities and Loyalty Programs

The practice of providing crypto tokens for engagement purposes stands as an outstanding business growth method across all industries.

Overcoming Key Challenges with Crypto Adoption

While the potential is exciting, startups looking to leverage crypto face barriers like regulation, user education, and technology capacity. Here is how to tackle them:

Work Closely with Regulators

As crypto gains prominence, regulators are developing more structured policy frameworks to both enable innovation as well as protect consumers.

Startups should proactively consult regulators when designing business models. They should also emphasize user protection mechanisms in their offerings. Being transparent and helpful allows startups to shape policy and regulation in their favor.

Invest in User Awareness of Crypto

The increasing adoption of cryptocurrency does not match the level of user understanding about its functions and potential dangers among most African users. New crypto-based service startups need to teach their users about crypto technology to reduce skepticism while promoting safe practices.

First-time users can successfully join through strategic campaigns along with localized information and business alliances linking crypto services to mobile money and banking systems. Providing education to users represents an important strategic objective.

Build Internal Blockchain Expertise

The complex emerging system of Blockchain demands experts with strategy knowledge and architectural skills, and a security background, as well as maintenance abilities. Organizations starting up require their internal blockchain expertise rather than depending entirely on external vendors.

Startups can build enduring success through monetary investments in both developer training and relationships with Web3 entities and membership in developer groups that aim to advance their blockchain expertise.

Africa’s Crypto Spring is Here

Crypto technology has initiated its relationship with Africa, and it is already creating innovative breakthroughs throughout the continent. The core goal of crypto and blockchain technology offers two primary aspirations, which are improved system optimization and fresh economic blueprint development.

Startups based in Africa need to take advantage of this potential to create new financial standards and redefine money systems, as well as identity verification and working arrangements. The crypto adoption growth wave will bring about Africa’s digital transformation period. Startups should capitalize on cryptocurrency opportunities in the present moment.