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Home Blog Page 5264

Companies Must Prepare For Digital Disruption

By
Ojukwu Emmanuel
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First of all, what is digital disruption? According to Google, digital disruption is an effect that changes the fundamental expectations and behaviors in a culture, market, industry, or process that is caused by or expressed through digital capabilities, channels or assets. In simple terms, digital disruption refers to the change that occurs when new digital technology and business models affect the value proposition of existing goods and services.

As the popular saying goes, “Life is full of uncertainty”, this means no one can predict what is likely to occur in the future. This is the reason why businesses/ organizations need to rewrite their business operations and plans to accommodate the unpredictability of the current world. Lately, there has been a high number of technological changes that have transformed companies and industries. Old methods are no longer sustainable anymore because it has been proven to retard growth and progress.

This is the reason why businesses should be prepared with a well-mapped-out strategy to handle digital disruption, to fuel their growth. Employers who remain reluctant to move from their legacy of technology and operations often experience a decrease in value in their business. They must understand that digital disruption can occur at any time and its impact on a business can be adverse.

Employers must take careful note of the technological disruption happening around them, they need to see advanced technology and change management as a continuous interplay that facilitates the delivery of optimal products and services. They need to deploy best practices on how to deal with digital disruption ahead so that it can work for them and not against them. During my research on this topic, I came up with three main causes of digital disruptions which are; Automation, Value Proposition, and Dematerialization.

Automation: What does this mean? It is the creation and application of technologies to produce and deliver goods and services where human input is minimized. It improves task efficiency which positively increases employees’ productivity. With automation, digital tools help businesses and organizations to automate repetitive tasks which enhances the efficiency of company resources. Most organizations that make use of automation, notice that it helps them save time and money and also allows them to focus on priority tasks. There are different types of automation systems such as; Fixed automation, Programmable automation, Flexible automation, Integrated Automation, etc.

Value Proposition: A company’s value proposition discloses to a customer the major reason why a product or service is best suited for them. The area of value proposition has evolved, with companies adopting new innovative ways of doing business. The main purpose of a value proposition is to convince customers, stakeholders, or investors that the company’s product and services are worthwhile. A value proposition can be communicated to investors and customers either via the company’s website, marketing, or advertising materials. Today’s modern companies have the data of their consumers and employees on their system which helps them to understand what they need. This data can be leveraged, tweaked, or revamped to change the business model to satisfy the demand.

Dematerialization: This has to do with the substitution of physical products with digital ones which simplify business processes. This process has reduced the marginal cost of production drastically and has opened new methods or channels of communication. One of the reasons why organizations adopt dematerialization is to smoothen the process of buying and selling. It is the process of using less material to create value. Examples of dematerialization are; Car Clubs, Bike Hire Schemes, laundry services.

Final Thoughts

In this 21st century, the world has become more digitally connected than ever before. Technology is gradually taking the center stage and it is already having a positive influence on business. Therefore, employers must see the need to prepare their company for digital disruption because it enables growth, enhances customer retention and satisfaction which makes the workforce faster and better.

One of the Startups Raising Funds in Tekedia Capital, Also Hiring A Senior Deal Executive

By
Ndubuisi Ekekwe
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This is Edekee, one of the 7 seven startups currently raising funds in Tekedia Capital Syndicate. It is a very amazing company when you see what young people in Nigeria have built. They brought a fusion of computer vision, calculus, and series (yes, all the nice mathematics) with top-grade machine learning to produce something amazing. I am so honoured to have been a technical and business mentor to these young people in their US-patent (pending) technology.

If you want to own a piece of Edekee or any of the other 6 startups (we keep those private from you now), I invite you to join us at Tekedia Capital Syndicate here.

Meanwhile, Edekee is looking for a top-level Business Development & Partnership Manager. Ideal person should be someone who has worked in closing BIG deals and strategic partnerships with experiences in big 4 consulting firms, or big banks or MNCs within the broad entertainment and commerce domain. The incumbent will lead signing partnerships with retail giants, ecommerce firms, Nollywood films/producers, Hollywood and global equivalents, social media sites, etc to bake Edekee APIs in them. You must have a glocal vision (global + local) on day one.

Send your LinkedIn profile to the email on the link shared above. This job is well paid with the opportunity to be part of an amazing tech-anchored startup – and of course, work with me. Lol. We hope to receive the application as Edekee needs to close this deal immediately.

Meanwhile, watch the Edekee MVP and share with your network.

Scholarships Coming for Ekiti State University Students for Tekedia CollegeBoost

By
Ndubuisi Ekekwe
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Great Ekiti State University students, something great is coming. We have a major sponsorship for the Faculty of Science and Faculty of Engineering undergraduate students to attend Tekedia CollegeBoost on scholarships, courtesy of a major Foundation.

CollegeBoost program manager, Eyitayo Adeleke, mMBA, is working with the student leaders in the faculties and will coordinate with them. If you are in these faculties, there is no need to pay by yourself as major help is coming.

For companies, NGOs, foundations, alumni associations, citizens etc who want to sponsor students to our 8-week business education program during this long ASUU strike in Nigeria, and keep our young people learning, contact Eyitayo or visit .

We have already discounted this N45,000 program to N10,000 per student as a way of helping the community.

Nigerian Housing Rental Solution Startup, Spleet, Raises $625,000 in A Pre-seed Round

By
Samuel Nwite
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0

As a continent made up of developing countries, Africa is full of market frictions that are inspiring a flurry of startups, each founded to fill the gaps in the  emerging markets. The focus, which started with fintech, is gradually shifting to other sectors like logistics, edtech, and now housing.

In Nigeria’s housing sector, the huge housing deficit has come with a lot of gaps that need to be filled. From unaffordable rents to rent duration issues that have dragged on for decades without solution, tenants are usually at the mercy of landlords.

To tackle these challenges, Tola Adesanmi founded Spleet in 2018. The aim of Spleet is to make it easy for Africans to rent a home. The startup has developed a financial services solution that makes it easier for landlords to verify and vet their tenants and collect rent electronically, while also making it easier for people looking for affordable housing to pay their rent.

The idea looks set to be the game-changer in African housing sector, and has caught the interest of investors. Spleet has secured a total of $625,000 in a pre-seed round. The investors led by MetaProp VC are Future Africa, FEDHA Capital, VFD Group, Moonshot VC, Gbenga ‘GB’ Agboola, and HoaQ of Squarefoot.

The oversubscribed pre-seed round will be used to offer rent financing and tenant verification solutions for Africans. The Nigerian prop-tech startup will use the funds from this fresh investment to develop its newest rent financing product, Rent Now Pay Later, as well as other solutions to facilitate seamless residential renting procedures. The beta version of the product is currently being used.

Customers will be able to get low-interest loans to pay their rent says Spleet. As the cost of owning a home rises, an increasing number of individuals are choosing to rent instead, resulting in an increase in the demand for housing. In addition, weak income growth has contributed to Nigeria’s housing dilemma.

Though cities like Abuja and Lagos have enacted laws to enable monthly pay of rents, majority of tenants across Nigeria are still required to pay for up to two years in advance. In addition, renters are burdened with this onerous obligation because the majority of them do not make enough money to cover the landlord’s necessary down payment. With the rent finance product, prospective tenants have the option of breaking down the upfront rent into manageable monthly instalments so that they may better track their income.

In 2010, 85% of Nigeria’s urban population lived in rented housing, spending more than 40% of their disposable income on rent. According to the 2009 census, the urban population of Nigeria was 48% of the country’s total.

Moreover, three-quarters of Nigeria’s estimated 154 million inhabitants live in metropolitan areas, according to this data. And of this total, 62.93 million people (or 85% of the population) are housed in rental properties across the country. According to Numbeo, a global data service provider, renting an apartment in Nigeria is more expensive than in any other African country except Seychelles.

“After opening a marketplace in 2019, we found that the challenges with our rental market were beyond our marketplace’s ability to remedy. Affordability is a major concern for renters. Most tenants are salaried and consequently cannot afford to pay their rent in full for the next two to three years,” Adesanmi says.

“Rent collection is a major headache for landlords, and Spleet’s tenant verification and collection product will be scaled to address this issue. These tools will assist landlords and property managers in protecting their rental investments by conducting background checks on prospective tenants and selecting only trustworthy, verified individuals. ”

Landlords will also benefit from automated rent collection by reducing the risk of late payments and loss of rental income.

“Landlords find it difficult to verify renters and are dependent on tenants’ decisions to get regular rent payment, resulting in high default and an ineffective rent collecting system,” said Adesanmi. Using proprietary and third-party APIs, Spleet can verify tenants and guarantors and automate rent collection, reducing landlord risk.

“Individual and corporate landlords may now automate the collection of rent, manage their tenants, and submit maintenance requests for their properties thanks to our extensive tenant screening process,” he said

Reviewing NYSC Programme In Nigeria

By
Fred Nwaozor
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The National Youth Service Corps (NYSC) is a paramilitary scheme established by law on 22nd May 1973 after the Nigerian Civil War with the sole motive of strengthening and restructuring the Nigerian State as well as creating a greater solidarity among the members of the country.

The scheme is compulsory for every Nigerian graduate whose age falls between eighteen (18) to thirty (30) years irrespective of the country in which the university or polytechnic he/she attended is situated, provided it is a recognized institution.

Youth corps members can be defined as a group of Nigerian youths that are being mobilized to serve the country in their respective capacities having successfully completed their degree or higher diploma programmes in any recognized higher citadel of learning across the globe.

It’s noteworthy that the National Youth Service Programme is divided into three major segments namely; the Orientation Camping, the Place of Primary Assignment (PPA), and the Community Development Service (CDS) respectively.

The Orientation Camping, which is a core paramilitary training, enables the corps members to be physically and mentally prepared to face their subsequent endeavours. The PPA segment, which creates a platform for them to be posted to various establishments in respect of their respective qualifications, is an avenue for them to practice whatever they have learnt during their school days.

Whilst, the CDS section is designed to ensure that each of the corps members, either individually or collectively, contribute his or her quota towards the development of their host communities.

In recent years, many pressing issues have been raised regarding the real essence of mobilizing fresh Nigerian graduates under the aegis of the NYSC. The outpouring enquiries or questions from the general public were not unconnected with their quest towards ascertaining the actual socio-economic significance of the scheme.

Indeed, the most distinct feature of the NYSC scheme, which has to do with deploying the fresh graduates or the prospective corps members to states or zones they may have not been before, remains the major recipe that has enabled the scheme to genuinely contribute its quota to Nigeria’s economic platform.

For instance, considering electoral matters, a corps member who hails from Sokoto State and is being deployed to serve in Anambra State stands to be neutral if being assigned to function as an ad-hoc Independent National Electoral Commission (INEC) official in any locality in Anambra State because he/she would barely know any of the aspirants or contestants or would in no way be a relative to any of them.

The above narrative would no doubt create an avenue for a transparent voting system at the polls since the corps member would have no personal interest in regard to the election(s) in question.

Furthermore, the recent introduction of the Skill Acquisition and Entrepreneurship Development (SAED) training in the NYSC scheme is simply not unlike placing a round peg in a round hole. The SAED programme was founded to enable the corps members to be well informed and orientated on the importance of entrepreneurship as well as equip them with the required skills towards the establishment of vocational outfits of their choice.

Since the invention of the platform, most Nigerian graduates who had successfully completed their NYSC programmes have been opportune to become self-employed or better still employers of labour in various fields of endeavour.

On the other hand, the role of the NYSC scheme in job creation cannot be overemphasized. Apparently, the scheme has enabled thousands of unemployed Nigerians to be gainfully employed, thereby making them financially independent or useful in their various families.

It suffices to say that the scheme has not only helped in creating a greater solidarity among the Nigerian youth as its aim implies, but has also succeeded in uplifting the socio-economic and political platform of the country.

Since the NYSC scheme has proven beyond any reasonable doubt that it is indeed a worthwhile scenario, there is need for the crusade regarding its sustenance to be intensified. Against this backdrop, it is worthy to note that reviewing some of its prime challenges is long overdue.

Currently, the corps members are being paid the sum of #32,000. Considering the present economic situation in the country coupled with the fact that most of these corps members are not provided with accommodation spaces by their places of primary assignment, there is an urgent need for the government to review the said allowance with a view of increasing the amount in question for the interest of the corps members, their various families, and Nigeria at large.

It is so pathetic to observe that most of these corps members are still being catered for by their respective parents or guardians due to the inability of their monthly allowances to properly take care of them, especially the female ones that are considered to be more demanding owing to their natural needs.

In view of this, the government should not hesitate to embark on an onward review of the said stipend that is presently causing several of our learned youths more harm than good, which could make them a nuisance to their various societies.

Also, the members of the legislature ought to as a matter of urgency endeavour to sign the anticipated new allowance into law as soon as the bill is made available to them by the executive arm.

On their part, the civil society groups must help to ensure that the suggested measure is considered seriously by the various arms of government. The relevant authorities must be continually reminded to do the needful.

Similarly, the SAED initiative needs to equally be reviewed for onward restructure. The essence of the technically-driven scheme must be intensified, having observed that the personnel meant to protect the initiative have on the contrary ended up abusing it.

Most importantly, every concerned stakeholder ought to acknowledge the fact that the proposed or anticipated reform is long overdue, therefore should not be taken for granted.

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