TechPression

Tag: SMEs

  • NITDA, Unicorn sign MOU to support local IT startups, SMEs 

    NITDA, Unicorn sign MOU to support local IT startups, SMEs 

    The National Information Technology Development Agency (NITDA) and the UNICCON Group of Companies are working together to help startups and Small and Medium Businesses (SMEs) in Nigeria’s technology industry.

    This was recently resolved with the signing of a Memorandum of Understanding (MoU) by representatives from both companies.

    The cooperation will also focus on assisting local entrepreneurs and SMEs in the technology industry by providing them with capital, mentorship, and other forms of assistance that will allow them to expand and compete on a global basis.

    NITDA and UNICCON will also work to develop and promote local content in Nigeria through various initiatives such as capacity building, skill development, and the creation of an enabling environment for local content producers and developers, according to the conditions of the MoU.

    Read also: NITDA creates AI National Strategy to revolutionize Nigerian technology

    Taking advantage of the NITDA’s Learning Management System (LMS)

    The Director General of NITDA, Kashifu Inuwa, CCIE, represented by Head of Legal Unit of the Agency, Barrister Emmanuel Edet, while speaking after signing the MOU, adviced that everyone should take advantage of the learning management system (LMS), which can be integrated into API provided by the Unicorn group, in order to take advantage of the  “Omeife”, a female-looking humanoid robot being developed by the Uniccon Group of Companies.

    “Omeife” is a 6-foot-tall female, African humanoid that provides language as a service for businesses needing to integrate native African audiences. She is also a multipurpose and assistance robot. She speaks African languages and is programmed to have a deep understanding of African culture and behavioural patterns.

    Inuwa recounted that during the unveiling of “Omeife” last year in December by the Vice President, Prof. Yemi Osinbajo, the Hon. Minister of Communications and Digital Economy, Prof. Isa Ali Ibrahim (Pantami), had urged NITDA to work with Uniccon Group on ways to commercialise Omeife.

    “We plan to have an application that everyone can use to take advantage of Omeife. At NITDA, we have had the Learning Management System (LMS) for a long time and can be integrated into API provided by the Unicorn group, in order to take advantage of it”. He said.

    Inuwa stated that leveraging on Omeife (robot) will deepen the penetration of digital literacy across the country, providing a platform for shared knowledge in Pidgin, Igbo, Hausa and Yoruba. This will provide a framework and platform for exposure of Nigeria’s indigenous content internationally.

    “Our greatest dream is to nurture startups and companies that will occupy the global space and also be as competitive as possible for the growth of the economy.

    “Digital Economy is a great alternative to oil, which serves as a means of income and an opportunity for us to compete because the entry-level is intellect and we have a lot of that across the country,” the DG asserted.

    The Chairman/CEO of Uniccon Group of Company, Mr. Chuks Ekweme during his remarks commended the Minister of Communications and Digital Economy, Professor Isa Ali Ibrahim (Pantami), and the DG of NITDA for the policies and initiatives implemented towards the digital transformation of the country.

    He assured that Unicorn Group of Company will support the government towards the actualisation of policies and initiatives, and do their best to contribute their quota towards the implementation drive for the growth of the country.

    Ekweme emphasized the importance of the AI project in Africa, stating that statistics show that no African country can boast of having 60% AI by 2030, with most countries falling below this percentage. Therefore, the signing of the MoU is a crucial step towards bridging this gap and positioning Nigeria as a leader in AI development.

  • TeamApt rebrands, becomes Moniepoint to support African SMEs

    TeamApt rebrands, becomes Moniepoint to support African SMEs

    A leading digital financial service firm in Africa has rebranded itself to be known as Moniepoint, the name of its flagship product. In this way, its business owners are aligned with a trusted brand they already know and trust.

    TeamApt rebranded to Moniepoint to help businesses develop with digital payments, accessible credit, and business management solutions.

    Tosin Eniolorunda, co-founder and CEO of Moniepoint Inc., said in an exclusive statement, “When we started in 2015, we launched by offering products and financial infrastructures to banks and needed an apt team, hence the name TeamApt.”

    ‘‘Our main commercial banking product, Moniepoint, has become our focus and our future. Moniepoint, with which our business is already familiar, better demonstrates our dedication to providing our businesses with an all-in-one platform for banking services, payments, credits, and business management tools to develop and flourish.’’

    Read also: TeamApt receives $50 Million Investment Round Support from QED Investors

     

    ‘‘Business finance services in Nigeria are provided by us. We’re promising to constantly support businesses that power their goals with this name change.’’

    Tosin has led Moniepoint to profitability since 2020. The company is also headed for unicorn status. Leading institutional investors, including QED Investors, Novastar, Lightrock, BII, FMO, Global Ventures, Endeavour Catalyst, and New Voices Fund, backed the company.

    With the rebrand, Moniepoint hopes to expand its influence and help firms grow beyond their current capabilities.

    More on Moniepoint

    Nigerian SMB platform Moniepoint has seen extraordinary success since its 2019 launch. It handles almost half the nation’s POS transactions.

     With a total processed payments volume of over $170 billion and a customer base of over 600,000 enterprises, the company tripled its revenue estimates for 2022 and earned the Central Bank of Nigeria’s National Inclusive Payment Initiative Award (CBN).

     The platform also introduced a credit offering in 2022, which has already provided working capital loans totalling more than $1.4 billion.

     Moniepoint’s scalable business model and focus on local comprehension have been important to the company’s growth strategy, making it the perfect choice for TeamApt’s rebrand as it continues to help businesses expand through simple digital payments and business banking and management tools.

    The next step for the company, according to Eniolorunda, is to expand its suite of products on its digital banking platform, including providing access to digital tools and entering new markets to give businesses access to the tools they need to collect payments and manage their businesses digitally through Moniepoint’s offerings.

    He stated, “Over 90% of transactions throughout the continent are still cash transactions, so there’s still plenty of room for businesses to grow and extend into the digital age.” “This redesign serves our wide mission of enabling firms in new areas with an all-in-one platform for financial services.”
    The startup also wants to make credit easier for businesses. Moniepoint makes credit more efficient and accessible to help businesses grow.

     “Moniepoint and everything it means for us and these businesses is front and center as we develop. “Our customers may now trust our dedication to their progress more than ever.” We’re telling them, he added. 

    Bloc partners with SMEDAN to provide fintech to Nigerian SMEs

  • Kuda pledges to support SMEs in Nigeria to expand their business

    Kuda pledges to support SMEs in Nigeria to expand their business

    The ground-breaking FinTech company, Kuda Tech, has claimed that the recently launched “Kuda Business” being provided by its Nigerian subsidiary, Kuda MFB, will give independent contractors and business owners of micro, small, and medium-scale enterprises the boost they need in their quest to expand and manage their enterprises. 

    Kuda MFB’s Head of Banking Products and Partnerships said this during the product’s introduction on October 10, 2022, in Lagos.

    Oyegun says that Kuda Company will help small business owners solve some of their many problems. Kuda Business provides a solution to some of the most fundamental problems that MSMEs and freelancers have while managing their enterprises, particularly when it comes to billing, collecting payments, and managing their businesses as a whole. The all-in-one manager Kuda Business makes it easy for customers to send invoices and pay multiple bills to different people and businesses without having to switch between applications.

    Read also: Clickatell partners with CBN to expand eNaira services

    Nigerian entrepreneurs gain from Kuda Business

    Some of the benefits Kuda Business offers, such as “easy estimate sending, the ability to send invoices and receive payment in a variety of ways, making free transfers and bulk transfers, paying business bills without using another app, and management of business finances with a team of two or more people.”

    Others include “the chance to use elements (that will be made available through the mobile app) that would allow businesses to collect payments” and “the ability to start as freelancers and get help with registering their businesses with the Corporate Affairs Commission (CAC).”

    Oyegun stressed that the program helps business owners cut costs and make things run more smoothly.

    “We recognize that saving money is important to companies. Therefore, users on the platform benefit from Kuda MFB’s regular 25 free transfers to other banks each month with their Kuda Business account,” he stated. Additionally, the Kuda Company account features a complete dashboard that displays how money comes in and out with real-time updates so that business owners can manage their accounts without ever being confused.

    “We have simplified the process of coming on board the platform so that prospective customers do not have to go through any time-consuming or energy-sapping routine,” Nosa stated while highlighting the steps prospective customers would take to enlist on the platform. 

    Kuda Bank suffers heavy losses in Nigeria

    Observations

    This was done so that prospective customers would not have to go through any time-consuming or energy-sapping routine. Suppose an entrepreneur or freelancer wants to take advantage of the features that Kuda Business has to offer. In that case, all they need to do is sign up at business.kuda.com, add money to their Kuda Business accounts, continue using Kuda Business as freelancers or upgrade to a full account, and finally, download the Kuda Business mobile app from their app store so that they can manage their business account no matter where they are.

  • Sendy, Meta and Innovation Growth Hub offers free training programs to SMEs

    Sendy, Meta and Innovation Growth Hub offers free training programs to SMEs

    Sendy, a startup that offers simple tech solutions to help businesses sell, move goods, and get financing, is teaming up with Meta and the Innovation Growth Hub to offer free growth training to SMEs (IGHub).

    Through the utilization of Meta’s platforms, such as Facebook, Instagram, Whatsapp, and Messenger, small and medium-sized businesses (SMEs), company owners, and entrepreneurs will acquire the knowledge and skills necessary to position their businesses for growth through the utilization of Meta’s training program known as Meta Boost. This program is designed to train participants on how to use Meta’s platforms.

    What to expect from the free training programs for SMEs

    This training will give small and medium-sized businesses (SMEs) and business owners the tools and information they need to use data, business insights, and digital tools to grow.

    The use of social media has developed into a crucial factor that has contributed to the expansion of many different companies. It has made several previously unavailable business options available.

    As a result, we have reason to believe that this partnership with Meta through the IG Hub will make it possible for companies to tap into the growth potential of digital platforms.

    Read also: Savvy Partners with KEPSA to train 1000 Kenyans

    This is also a reflection of our ongoing efforts to enable a more significant number of enterprises to make use of our products, “stated Mesh Alloys, Founder and CEO of Sendy. “

    Small and medium-sized businesses (SMEs) will get training on how to improve their online presence, target their audience on social media, and use Instagram commerce solutions. They will also learn how to write ads that get people’s attention, create virtual stores with shops on Facebook and Instagram, and do a lot more.

    Sendy has shown a great interest in their customers and SMEs within their network and is partnering with IGHub to reach business owners with MetaBoost Training. ” In 2022, Innovation Growth Hub (IGHub) is working with META, formerly Facebook, to train 8,000 small business owners in Nigeria. And this IGHub is working with organizations and clusters to reach small businesses. Daniel Chinagozi-IGHub CEO

    Since it started, the Meta Boost training has helped tens of thousands of small and medium-sized businesses in Africa find out how digital tools can help them achieve their business goals.

    About Sendy

    Sendy is a technology business specializing in constructing fulfilment infrastructure for online retailers and consumer brands. Our goal is to remove barriers to commerce so that individuals and companies can realize their full potential. We collaborate with logistics providers, consumer goods suppliers, financial institutions, payment networks, warehousing providers, and regulators to make it simple for companies who use Sendy to sell their products, move their inventory, and obtain financing.

    Users of Sendy’s International Money Transfer App are able to send money quickly and easily from their smartphones at any time by depositing the funds at Seven Bank ATMs in the immediate area.

    Send money rapidly and safely when you are in the midst of a financial emergency.

    The ICT Skills Registry is Now Live in South Africa

    About Meta

    Meta Platforms, Inc., also known as Meta, is an American international technological conglomerate with its headquarters in Menlo Park, California. The company, also formerly known as Facebook, Inc. and TheFacebook, Inc., is a company that does business as Meta. In addition to other goods and services, the corporation is the owner of social media platforms such as Facebook, Instagram, and WhatsApp.