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Over Half of Businesses in Nigeria Planning to Expand Locally Despite Supply Chain, Cyber-Security, and Recruitment Challenges

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100 business leaders in Nigeria were interviewed about the opportunities and challenges their organizations are facing – and their plans for the future

LAGOS, Nigeria, December 7, 2022/APO Group/ — 

Nigerian survey data also shows that 34% of IT decision makers in Nigeria are planning to move to a new region and 33% into a new country; 58% of IT decision makers in Nigeria view a shortage of personnel with IT skills as one of the main threats to their business; Equinix completed the acquisition of Nigeria’s MainOne (http://www.MainOne.net) earlier this year

As part of the Equinix 2022 Global Tech Trends Survey (https://bit.ly/3P4YpHt), 100 business leaders in Nigeria were interviewed about the opportunities and challenges their organizations are facing – and their plans for the future.

As Equinix’s survey data highlights, there are huge opportunities for Nigeria’s businesses to successfully expand into new markets and reach new customers.

The survey in Nigeria revealed that 54% of respondents are planning on expanding in an existing country in the next 12 months, 34% into a new region and 33% into a new country.  And that 93% of IT leaders in Nigeria said enhancing customer experience is a priority.

However, a number of potentially limiting factors were identified by businesses when it came to global growth including concerns and challenges in supply chain, cyber security, and staff retention and recruitment.

Supply Chain Challenges

55% said their business was plagued by global supply chain issues and shortages, while 50% specified the global microchip shortage as a threat to their business.

Cyber Security

There remain significant concerns around cybersecurity in Nigeria. Ensuring expansions are supported by resilient digital models is business-critical, particularly at a time of increasing volatility and emerging global threats.

As part of their digital-first strategies, 85% of respondents in Nigeria confirmed a key priority is improving cybersecurity. 88% said complying with local market data regulations is critical, while 85% highlighted the need to futureproof their businesses. According to IT specialists in Nigeria, the most feared threats were cyberattacks (73%), security breaches and data leaks (68%).

Staff retention and recruitment

77% of IT leaders in Nigeria said they plan to move more business functions to the cloud including business-critical applications and security functions

Despite having one of the youngest populations and workforces in the world, 58% of IT decision makers in Nigeria view a shortage of personnel with IT skills as one of the main threats to their business.  The survey showed that among the most common concerns for businesses in Nigeria are candidates with the wrong skill sets applying for jobs (56%), pay and compensation (49%), changing expectations around ways of working (41%), and the retention of current talent (38%).

Additionally, In Nigeria, the most in-demand tech employees are those with skills in areas such as AI/machine learning, data analysis, cloud computing specialists, data protection, security software development, IT technicians and security analysis

Tools To Grow Businesses

To help grow their businesses, 77% of IT leaders in Nigeria said they plan to move more business functions to the cloud including business-critical applications and security functions.

Hybrid cloud models were the preferred approach for 36% of respondents in Nigeria, although 18% still rely on a single cloud provider and 2% not using the cloud at all.

40% in Nigeria said they plan to facilitate global expansion plans by deploying virtually via the cloud, with over a quarter (26%) – 21% among IT decision-makers in Nigeria – doing so using a bare metal solution.

Meanwhile, 47% globally (46% in Nigeria) said they expect increased spending on carrier-neutral colocation solutions to facilitate the planned rise in digital deployments, while even more (59% at global level, 70% in Nigeria) said they intend to increase investment in interconnection services as they plan to progress digital transformation and build resilience.

COVID accelerates digital evolution

The pandemic also continues to have a significant impact on businesses’ digital strategies. More than half of IT leaders in Nigeria (64%) say they are accelerating their company’s digital evolution because of the COVID-19 crisis. Indeed, over half (64%) confirm their IT budgets have increased as a direct outcome of its legacy—an insight into the now broadly acknowledged necessity for robust digital infrastructure to pivot to evolving business needs in an instant. Furthermore, almost three-quarters of respondents (73%) believe the technology changes and investments implemented during the pandemic are here to stay.

Funke Opeke, Managing Director, MainOne, An Equinix Company said:

The acceleration in digital transformation in Nigeria reinforces the need for businesses to have access to single points to interconnect locally. Increased speed of connectivity, increased flexibility of connectivity, and reduced cost of connectivity were identified by IT decision-makers in Nigeria as the most beneficial aspects of interconnection.  MainOne provides a rich interconnection ecosystem that allows customers connect to each other multiple telecoms networks, and Cloud, Payment and Content Providers in a single location.’’

Earlier this year Equinix, Inc. (https://www.Equinix.com/) (Nasdaq: EQIX), the world’s digital infrastructure company™, expanded into Africa through the US$320m acquisition of MainOne, a leading West African data center and connectivity solutions provider, with presence in Nigeria, Ghana and Côte d’Ivoire

To download a copy of the Global Tech Trends Survey – Nigeria report, please visit: https://bit.ly/3Pba3ka  

To read more about the Global Tech Trends Survey or download a copy, please visit: Equinix 2022 Global Tech Trends Survey (https://bit.ly/3P4YpHt)

Distributed by APO Group on behalf of MainOne.

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Africa Women Innovation and Entrepreneurship Forum (AWIEF) Announces Finalists for the 2024 AWIEF Awards

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This year, the finalists have been selected from a diverse group of talented women founders and business owners across the continent, each demonstrating excellence in their respective fields

CAPE TOWN, South Africa, September 19, 2024/APO Group/ — 

The Africa Women Innovation and Entrepreneurship Forum (AWIEF) (www.AWIEForum.org/) is delighted to announce the finalists for the prestigious 2024 AWIEF Awards, set to recognize and celebrate the achievements of Africa’s women entrepreneurs and business leaders. The awards, held annually as part of the AWIEF conference, honor the impact of women entrepreneurs in driving innovation, promoting gender equality, and contributing to Africa’s economic development.

This year, the finalists have been selected from a diverse group of talented women founders and business owners across the continent, each demonstrating excellence in their respective fields. The finalists span categories such as agriculture, technology, creative industries, social entrepreneurship, and more. Their accomplishments are a testament to the power, resilience, and innovative spirit of African women in business.

Here are the finalists (in alphabetical order) for the 2024 AWIEF Awards:

1. Young Entrepreneur Award

Mpho Hlongwane – MH Automotive Engineering (South Africa)

Adeline Pelage – Madinina Foods (Cameroon)

Jessy Radwan – Carerha (Egypt)

2. Agri Entrepreneur Award

Naledi Magowe – Brastorne (Botswana)

Ifeoma Okonkwo – Ifgreen Industries & Investment (Nigeria)

Cherotich Rutto – Tawifresh Kenya Limited (Kenya)

3. Creative Industry Award

Thabo Makhetha-Kwinana – Thabo Makhetha CC (South Africa)

Jenny Edwige Mezile – L’École D’Arts les Pieds dans la Mare de Jenny Mezile (Côte d’Ivoire)

Jane Mpholo – Jane Mpholo Pty Ltd (South Africa)

4. Empowerment Award

Fomum Victorine Agum – Global Women Emancipation in Sports (Cameroon)

Judy Makira – Centre for Women Empowerment in Technology (Kenya)

Creseldah Cassandra Ndlovu – CLM Clothing & Textile (South Africa)

5. Tech Entrepreneur Award

Ynes Hafi – ARSELA (Tunisia)

Peace Iraguha – Lifesten Health (Rwanda)

Christiana Okere – myStash (Nigeria)

6. Social Entrepreneur Award

Osen Iyahen – Optimal Greening Foundation (Nigeria)

Temitope Mayegun – Avilla Naturalle (Nigeria)

Tsholofelo Ramokoka – AddressDox (South Africa)

Recognizing Africa’s Women Leaders

The AWIEF Awards continue to celebrate women who are making waves across industries, empowering communities, and setting new benchmarks in entrepreneurship. The finalists represent a diverse array of sectors, highlighting the depth and breadth of women’s contributions to Africa’s economic landscape.

AWIEF Awards Ceremony

The winners of the 2024 AWIEF Awards will be announced at the AWIEF Awards Ceremony on November 29, 2024, during the AWIEF Conference in Cape Town, South Africa. The event promises to be a night of inspiration, celebration, and a testament to the transformative power of women-led businesses in Africa.

Join us for AWIEF2024

Don’t miss this opportunity to join the celebration and be part of Africa’s most impactful conference for women entrepreneurs.

Register Now: https://apo-opa.co/4eMq1Nh

Distributed by APO Group on behalf of Africa Women Innovation and Entrepreneurship Forum (AWIEF).

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Unleashing Africa’s Next Big Play: Namibia’s Emerging Oil and Gas Sector (By Rachel Mushabati)

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One of the primary drivers of Namibia’s attractiveness as an investment destination is its supportive government and investor-friendly policies

JOHANNESBURG, South Africa, September 18, 2024/APO Group/ — 

By Rachel Mushabati, Senior Associate Attorney, CLG Namibia (www.CLGGlobal.com).

Namibia, a nation renowned for its breath-taking scenery and abundant wildlife, is becoming more and more well-known for its booming oil and gas industry. Namibia is quickly rising to the top of Africa’s oil and gas exploration and investment destinations because to notable discoveries and a favourable investment climate. Here are some reasons for investors to be interested in Namibia’s developing economy and how business advice and strategic law might improve investment prospects.

A Treasure Trove of Potential

Namibia’s oil and gas sector has garnered international attention due to its substantial potential. Recent exploratory drilling has revealed promising reserves off the coast, particularly in the Namibian offshore region. After several years of extensive exploration, Namibia realized its first oil discoveries. In early 2022, Shell, QatarEnergy, and NAMCOR made a landmark discovery in the deep-water well in the Orange Basin, offshore southern Namibia. This was followed by another significant find in 2023, when TotalEnergies, QatarEnergy, and NAMCOR discovered light oil with associated gas on the Venus prospect, also in the Orange Basin. In 2024, Galp Energia, Custos, and NAMCOR further solidified Namibia’s status with a high-quality light oil discovery in the Mopane-1X well, located in the same prolific basin.[1] These discoveries, alongside notable formations such as the Kudu Gas Field, have positioned Namibia as a key player in the global energy market. The country’s geological formations, particularly in the Orange Basin, have demonstrated significant hydrocarbon potential, making it an attractive destination for exploration and production.[2]

Government Support and Favourable Policies

One of the primary drivers of Namibia’s attractiveness as an investment destination is its supportive government and investor-friendly policies. The Namibian government has implemented a range of initiatives to foster a conducive environment for oil and gas investments. Namibia’s Investment Promotion Act[3] is a pivotal component in the country’s strategy to attract and support investors. This comprehensive legislation provides a range of incentives to enhance the financial viability of projects and reduce initial costs[4]. It also ensures robust legal protections, safeguarding investors’ property rights and offering non-discriminatory treatment compared to domestic investors. By streamlining licensing processes and providing one-stop-shop services[5], the Act simplifies the investment process and reduces bureaucratic hurdles. Additionally, it supports priority sectors such as oil and gas, reinforcing Namibia’s commitment to fostering a transparent, stable, and investor-friendly environment. Namibia’s commitment to creating a stable and attractive investment environment is evident through its proactive approach in engaging with international investors and offering competitive terms.

Strategic Location and Infrastructure

Namibia’s strategic location along the Atlantic Ocean provides a crucial advantage for oil and gas operations. The country’s well-developed port infrastructure, particularly the Port of Walvis Bay, facilitates efficient export and import processes.[6] Additionally, Namibia’s proximity to key international markets enhances its appeal as a hub for energy resources. The development of supporting infrastructure, such as pipelines and storage facilities, further strengthens Namibia’s position as a key player in the global energy supply chain.

Economic Growth and Sustainable Investment Opportunities in Namibia’s Oil and Gas Sector

Investing in Namibia’s oil and gas sector not only presents a wealth of economic opportunities but also aligns with the principles of sustainability and responsible investment. The sector’s expansion is expected to stimulate ancillary industries such as construction, logistics, and technology, benefiting local businesses through increased demand for related services and products. The influx of foreign investment is anticipated to drive job creation, infrastructure development, and overall economic growth. Concurrently, Namibia places a strong emphasis on sustainability and environmental stewardship. The government and industry stakeholders are committed to responsible investment practices that protect local communities and ecosystems. Investors who prioritize these practices will not only contribute to positive environmental and social outcomes but also bolster their own reputation and long-term success in the market.

Conclusion

Namibia’s emerging oil and gas sector offers a compelling opportunity for investors seeking to capitalize on new and promising markets. With its substantial hydrocarbon potential, favourable government policies, strategic location, and burgeoning economic opportunities, Namibia is poised to become a prominent player in the global energy arena. The sector’s growth is anticipated to drive significant benefits across various ancillary industries and create widespread economic development. Additionally, the emphasis on sustainability and responsible investment practices aligns with global standards, ensuring that investments contribute positively to local communities and the environment.

However, successfully navigating this promising landscape requires expert guidance. Engaging with local legal and business advisory services can provide investors with crucial insights, help manage regulatory complexities, and enhance overall investment strategies. By leveraging the expertise of these advisory services, investors can maximize their potential for success and make a meaningful contribution to Namibia’s oil and gas sector. For those ready to explore the opportunities in Namibia’s oil and gas industry, the time to act is now. With the right expertise and strategic approach, investors can unlock substantial rewards and play a pivotal role in the growth of this exciting sector.

Namibia’s oil and gas sector has garnered international attention due to its substantial potential


[1] NAMCOR. Press Releases. Retrieved from https://apo-opa.co/3XO3SZ4. Last accessed 5 September 2024.

[2] Koning, T. “The Orange Basin, Deepwater Namibia- What’s Going on with Its Resources, Reserves and Future Production of Natural Gas?”. Retrieved from https://apo-opa.co/3XMKCv1. Last accessed 6 September 2024.

[3] Namibia Investment Promotion Act 9 of 2016

[4] Namibia Investment Promotion Act Section 4 (4)

[5] Namibia Investment Promotion Act Section 7

[6] Namport. “Welcome to the Port of Walvis Bay”. Retrieved from https://apo-opa.co/3Xq02UC. Last accessed 6 September 2024.

Distributed by APO Group on behalf of CLG.

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Artificial Intelligence (AI) Essentials for Small Businesses to Drive Growth and Save Time

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With AI, business owners can quickly craft personalized responses, such as thank-you emails to customers after they make a purchase or sign-up for a service, reminder emails, and responses to inquiries or complaints

JOHANNESBURG, South Africa, September 18, 2024/APO Group/ — 

Generative AI (Artificial Intelligence) is not new, however the recent boom in AI tools available to anyone such as image-generation tools and AI-driven applications, while offering new opportunities, can also place small business owners in new and unfamiliar territory.

GoDaddy shares some ways in which generative AI can help small business owners and entrepreneurs enhance creativity, streamline operations and support customer engagement.

  1. Generate creative and unique business names – The biggest barrier to getting started is sometimes a blank screen. Generative AI is great for helping to get creativity started. If thinking of a catchy business name isn’t your strong suit, consider using AI to kick-start the process. GoDaddy AI Domain Search can help generate potential business names, giving entrepreneurs a list of unique and creative names that they might not have come up with otherwise.
     
  2. Automate content creation – By simplifying the content creation process and enhancing the effectiveness of published materials, such as website content, newsletters or blogs, AI can help save entrepreneurs both time and money.

Using advanced natural language processing algorithms and deep learning techniques, AI-powered content-generation tools can analyze existing content within a specific industry or niche. Using that information, AI tools can then generate relevant and engaging content. And then, you can update the output to match the overall vibe of your unique business.

GoDaddy is equipping small business owners with AI tools and guidance to help them boost their content creativity and streamline operations

To help entrepreneurs be successful in creating prompts to use with AI tools, GoDaddy created a free guide. This guide offers small business owners tips for how to create text and visual prompts.

  1. Enhance customer service – With AI, business owners can quickly craft personalized responses, such as thank-you emails to customers after they make a purchase or sign-up for a service, reminder emails, and responses to inquiries or complaints. By providing fast and personalized responses to customers, using AI-powered tools can help to enhance the overall customer experience, leading to higher satisfaction rates and a stronger brand reputation, and help to drive further engagement with customers.
     
  2. Support for social media management – Engaging on social media channels is an important part of growing a business in today’s digital environment, but managing multiple platforms and attempting to brainstorm creative new content can feel daunting. AI can help here as well.

    Tasks AI can support with include creating a list of key moments and relevant events for a target audience, craft ad copy to grab people’s attention, write simple video scripts, create editorial calendars, and provide creative captions for image-based posts.

    GoDaddy Studio creates professional-looking content for a business or personal brand. Anyone can easily and quickly produce engaging content without needing advanced design skills. This free tool is available for anyone looking to enhance their online presence and take advantage of branded content for their social media channels, website, customer email communications, and more.

While AI tools can help save time and money, it is crucial for a human to closely review the output of the AI tool that you choose to use, as AI can return incorrect, false or outdated information or may include content containing third parties’ intellectual property.

“In today’s fast-changing digital world, GoDaddy is equipping small business owners with AI tools and guidance to help them boost their content creativity and streamline operations, saving them time to focus on growing their businesses,” said Selina Bieber, Vice President of International Markets at GoDaddy.

GoDaddy offers a wide array of online resources to help small businesses and entrepreneurs thrive in the digital world, from website building and ecommerce tools to email and digital marketing solutions.

For more information on how GoDaddy can help your business, visit GoDaddy (www.GoDaddy.com).

Distributed by APO Group on behalf of GoDaddy.

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