African countries making waves in innovation and technology .
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Covid 19 and its effect on africa's technological advancements.
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In this article, we’ll be discussing why mobile marketing is important and how you can leverage it for your startup in this article.
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Green transportation benefitting healthcare
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Relevant skills every African tech enthusiates could acquire.
Technical skills are the specialized knowledge and expertise required to perform specific tasks and use specific tools and programs in real world situations. Diverse technical skills are required in just about every field and industry, from IT and business administration to health care and education.
25 Relevant tech skills in todays world.
1.Audio production
2.Industrial design
3.Cyber security
4.Artificial intelligence
5.Cloud computing
6.Software engineering
7.Software development
8.Project management
9.UI/UX design
10.Data analytics
11.Data science
12. Programming
13.Computer graphics
14.Digital marketing
15.Translation
16.Mobile development
17. Virtualization
18.Business analysis
19.People Management
20. Technical writing
21. Block chain
22.Quantum computing
23. Robotics
24.Video production
25.Game development
Having a tech skill is critical at the level of civilization the world is at,young africans are encouraged to learn a tech skill as this will keep them relevant in this fast changing generation (Genz).
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So many african youths want to explore the tech space,and this article will help them understand what web3 is about.
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Kwik Delivery Company and Kwik Pik are two prominent logistics companies in Nigeria, each with its own unique features and advantages. While both companies offer delivery services, there are notable differences that make Kwik Pik the preferred choice for many. Let's delve into the distinctions and reasons why Kwik Pik should be preferred.
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Writting Challenges
Up for grabs
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Tech Entrepreneurship
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The crucial role of Small and Medium Enterprises (SMEs) in the economic growth and development of Nigeria cannot be overemphasized. They contribute significantly to job creation, poverty reduction, and overall socio-economic advancement.
However, one of the major challenges faced by SMEs in Nigeria is the efficient management of their supply chains and logistics operations aside from their inadequate capital. Small and Medium Enterprises are basically businesses with small scales of operation, hence always challenged by inadequate capital for their business. By Nigerian definition, Small and Medium enterprises are basically businesses with up to 250 employees. Small enterprise has 10-49 employees while Medium enterprises have 50-249 employees.
In this article, we will delve into the vital role that logistics plays in empowering SMEs in Nigeria and explore various ways to enhance their logistics capabilities.
What’s Logistics in Business?
This simply refers to the coordination and movement of products from point A (origin/point of sale) to point B (consumption) in order to meet customers’ needs. This implies that efficient and effective logistics is paramount to the success of any SMEs since they need to package and deliver their products to their customers in a less expensive manner, stress-free, fast, and in good conditions to their customers by leveraging on good logistics service providers.
The Roles of Logistics in Empowering SMEs in Nigeria
The following are the several ways in which delivery service providers assist small businesses in reaching their goals;
1. Enhancing Market Access:
Logistics companies play a pivotal role in enabling SMEs to access new markets and expand their customer base. Efficient transportation, distribution, and warehousing systems are essential for SMEs to reach both domestic and international markets. With efficient logistics companies such as the likes of Kwik Piks, SMEs can rest assured that their products will be delivered efficiently to their customers not minding their locations or time time-frames of expected deliveries. This connects SMEs to regional and global supply chains, enabling them to compete on a larger scale.
2. Cost Reduction:
Effective logistics management can significantly reduce operational costs for SMEs. By optimizing transportation routes, adopting efficient inventory management systems, and implementing lean logistics practices, SMEs can minimize wastage, improve productivity, and achieve cost savings. This, in turn, allows them to allocate resources to other critical business areas such as product development, marketing, and talent acquisition.
3. Supply Chain Integration:
Logistics serves as a crucial link in integrating various components of the supply chain for SMEs. It involves the coordination of suppliers, manufacturers, distributors, and retailers, ensuring seamless flow and timely delivery of goods and services. By streamlining supply chain processes, SMEs can reduce lead times, improve customer satisfaction, and enhance overall business performance.
4. Enhancing Competitive Advantage:
Efficient logistics operations can provide SMEs with a competitive edge in the market. By delivering products promptly, maintaining inventory accuracy, and offering reliable after-sales services, SMEs can build a reputation for reliability and customer satisfaction. Such a positive brand image not only attracts new customers but also fosters customer loyalty, allowing SMEs to compete with larger enterprises.
5. E-commerce and Last-Mile Delivery:
The rise of e-commerce has opened up new opportunities for SMEs in Nigeria. However, the success of online businesses heavily relies on efficient last-mile delivery logistics. By partnering with logistics service providers or adopting in-house delivery networks, SMEs can ensure prompt and reliable delivery of products to their customer's doorsteps. This strengthens customer trust, boosts sales, and enables SMEs to tap into the growing e-commerce market.
Conclusion
Logistics plays a pivotal role in empowering small and medium enterprises in Nigeria.
This is with the now existence of several top-notch third-party logistics companies such as Kwik Pik. They basically take away the stress of packaging and delivering of SMEs products to their client with a web3-based app where customers can track their packages, have different modes of transportation to choose from, arrays of payment options to choose and assurance of the safety of their package till arrival.
This enables SMEs to enhance their market access, reduce costs, enhance their competitive advantages, and be rest assured of the last-mile delivery of their products to their customers thereby enabling them to focus on other core goals of their enterprise growth and development.
Download Kwik Pik apps on Google Play and App Store here for a seamless last-mile delivery service for your enterprise as an SME.
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The logistics industry in Nigeria is undergoing a major transformation, thanks to the increasing adoption of technology. In the past, logistics was a relatively manual process, with businesses relying on paper records and offline systems to track shipments. However, the rise of digital technology is changing all that.
Benefits of using technology in logistics
The use of technology in the logistics industry is likely to continue to grow in Nigeria. And as technology continues to develop, we will see even more innovation in the logistics industry. This will lead to more efficient, transparent, and accessible logistics services. Here are some of the benefits of using technology in logistics:
- Real-time tracking: With real-time tracking, businesses can see exactly where their packages are at all times. This information can be used to optimize delivery routes and ensure that shipments arrive on time. Logistics companies can save time and money by using technology to track deliveries and optimize routes. Real-time technology is making logistics more transparent by allowing customers to track their deliveries in real-time. This gives customers peace of mind, knowing where their goods are and when they will arrive
- Automated data entry: Automated data entry systems can help reduce errors and improve the speed of data processing. This can free up staff to focus on other tasks, such as customer service.
- Cloud-based logistics software: Cloud-based logistics software allows businesses to access their logistics data anywhere. This can be helpful for businesses with multiple locations or those needing to collaborate with partners.
- Mobile apps: Technology is making logistics more accessible. By using mobile apps, logistics companies can reach a wider range of customers. Also, these mobile apps make it easier for businesses to manage logistics operations and can be used to track deliveries and communicate with customers.
How Kwik Pik is Using Technology to Deliver a Disruptive Logistics Experience
The logistics industry is ripe for disruption. Traditional logistics providers are often slow, inefficient, and expensive. This is where Kwik Pik comes in. Kwik Pik is a technology-enabled logistics company that is disrupting the market by offering a faster, more efficient, and more affordable delivery experience.
One such company is Kwik Pik Logistics. Kwik Pik is a delivery service company that uses a mobile app to connect customers with drivers. The app allows customers to track their deliveries in real time and provides drivers with information about the best routes to take. This has made Kwik Pik a popular choice for businesses and individuals who need to send or receive deliveries in Lagos and nearby states.
Kwik Pik is using many technologies to disrupt the logistics market in Nigeria. These technologies include:
- The customers are provided with a mobile application that enables them to monitor their deliveries in real time. The application is conveniently accessible for both iPhone and Android users through the App Store and Google Play Store. Additionally, individuals have the option to register as riders for the service.
- A GPS tracking system that helps drivers find the best routes to take.
- A system that uses artificial intelligence to optimize delivery routes.
These technologies have helped Kwik Pik improve its efficiency and transparency. As a result, Kwik Pik has been able to attract a large number of customers. In addition, the use of technology has helped Kwik Pik expand its reach into new markets.
Conclusion
The use of technology is having a significant impact on the logistics industry in Nigeria. This is leading to the emergence of new logistics companies that are using technology to disrupt the market. Kwik Pik is one such company that is using technology to improve efficiency, transparency, and accessibility. As the logistics industry continues to grow in Nigeria, Kwik Pik is well-positioned to benefit from this growth. However, technology is having a significant impact on the way logistics services are delivered. As technology continues to develop, we will likely see even more innovation in the logistics industry in Nigeria.
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Business-to-business (B2B), also called B-to-B, is a form of transaction between businesses, such as one involving a manufacturer and wholesaler, or a wholesaler and a retailer. Business-to-business refers to business that is conducted between companies, rather than between a company and individual consumer. Business-to-business stands in contrast to business-to-consumer (B2C) and business-to-government (B2G) transactions.
B2B transactions tend to happen in the supply chain, where one company will purchase raw materials from another to be used in the manufacturing process.
B2B payments play an important role in the economy since they facilitate the seamless exchange of transactions between businesses, which helps in smooth flow of production and distribution of goods and services.
B2B marketing impacts economic growth on a company, community and national level.
1.Reduced operational costs
A natural byproduct of B2B orders is lower operational costs. One single order of more than 100 units needs fewer labels and shipping boxes, and therefore, lower operational costs than if you were selling individually to the end customer.
2. Minimal B2B marketing costs
With B2B ecommerce, on the other hand, marketing is done on your behalf. Resellers will make your product appear in the window of retail locations, on the shelves of busy department store shelves, and in digital marketing campaigns. In all cases, your B2B customers do the promotion for you, rather than using your own brand’s marketing dollars.
3. Increase brand recognition
The same is true even if you’re a legacy B2B retailer who typically sells in-person. Shifting to B2B ecommerce allows you to increase brand recognition by selling to the mass market at scale. Instead of facilitating B2B wholesales through manual processes, an online storefront allows B2B buyers to self-serve.
4.Research and Development
B2B companies are responsible for the research and development of innovative solutions to problems that impact a wide range of industries. Successful B2B businesses drive economic growth by providing their clients with products and services that allow them to work more efficiently, provide better service and grow their businesses.
The more B2B customers you can serve, the more places your products will be visible to the general public.
Inconclusion,50% of our economy is generated by B2B transactions and 82% of companies derive some or all of their income from B2B.
B2B payments play an important role in the economy since they facilitate the seamless exchange of transactions between businesses, which helps in smooth flow of production and distribution of goods and services.
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1. Don't call someone more than twice continuously.
If they don't pick up your call, assume they have something important to attend to.
2. Return the money that you have borrowed.
even before the person who borrowed it remembers or asks for it. It shows your integrity and character. Same goes with umbrellas, pens, lunch boxes, etc.
3. Never order the most expensive dish on the menu.
when someone is giving you a lunch or dinner.
4. Don't ask awkward questions like,
'Oh so you aren't married yet?' Or 'Don't you have kids' or
'Why didn't you buy a house?' Or why don't you buy a car? For God's sake, it isn't your problem.
5. Always open the door for the person coming behind you.
It doesn't matter if it is a guy or a girl, senior or junior. You don't grow small by treating someone well in public.
6. Pay it forward or afterwards.
Eg: If you take a taxi with a friend and he/she pays now, try paying next time.
7. Respect different shades of opinion.
Remember, what's 6 to you will appear 9 to someone facing you. Besides, a second opinion is a good alternative.
8. Never interrupt people who are talking.
Allow them to pour it out. As they say, hear them all and filter them all.
9. Know when to stop.
If you tease someone, and they don't seem to enjoy it, stop it and never do it again. It encourages one to do more and it shows how appreciative you are.
10. Embrace gratitude.
Say "thank you" when someone is helping you.
11. Empathize Loyalty.
Praise publicly. Criticize privately. If you want to retain those who are present, be loyal to those who are absent.
12. A compliment goes a long way compared to a criticism.
There's almost never a reason to comment on someone's weight. Just say, "You look fantastic." If they want to talk about losing weight, they will.
13. Respect boundaries.
When someone shows you a photo on their phone, don't swipe left or right. You never know what's next.
14. Mind your own business, if they want to share, they will.
If a colleague tells you they have a doctor's appointment, don't ask what it's for, just say " hope you're okay". Don't put them in the uncomfortable position of having to tell you about their personal illness. If they want you to know, they'll do so without your inquisitiveness.
15. Respect everyone, regardless of their status, ethnicity, or age.
You can't be a good business partner or anything else unless you are a good human being to the core, Treat the cleaner with the same respect as the CEO. Nobody is impressed at how rude you can treat someone below you but people will notice if you treat them with respect.
16. Eye contact and body language.
If a person is speaking directly to you, staring at your phone is rude.
17. The power of silence.
Never give advice until you're asked; sometimes all people need is a listening a ear free of judgments and advice. Knowing this will help you help those in need and you will not be listening to respond but to empathize with the other person.
18. Avoid unnecessary questions.
When meeting someone after a long time, unless they want to talk about it, don't ask them their age and salary.
19. Mind your business unless anything involves you directly - just stay out of it.
20. Small gestures go a long way.
Remove your sunglasses if you are talking to anyone in the street. It is a sign of respect.
21. Understand your audience.
Never talk about your riches in the midst of the poor. Similarly, don't talk about your children in the midst of the barren.
22. After reading a good message, try to say
"Thanks for the message".
Appreciation remains the easiest way to get what you don't have.
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In Previous years, postage received letters and bills from friendly postmen on motorcycles. As time passed, it has evolved to meet the demands and expectations of the industry, driven by consumerism. This evolution has brought to life so many delivery options and services in the logistics sector. On-demand delivery and the standard courier delivery service are two of the most popular delivery methods.
On-Demand Delivery Service
On-demand delivery is a service that allows you to have almost anything you want or need be delivered at any time you desire to any location you choose. Everywhere you go, you will find on-demand delivery motorcycles on the road or lined up at commercial areas delivering food, groceries, documents and so much more.On-demand delivery is one of the most used delivery services, so much so that it has become a part of everyone’s daily life. Why? The keyword is instant gratification. It fulfils consumers’ needs immediately within short delivery time, something that has become increasingly prevalent in today’s society.
Why It May Be The Best Option ?
Are there other benefits of on-demand delivery, other than instant gratification? ; Yes!, Real-time Tracking System.
Once you place your order, it will allow you to track your shipment live. It also gives you an estimated delivery time so you know when to expect it. The delivery time given is often fast and accurate, so you can plan your day to day activities accordingly. On-demand delivery is also useful if you need to deliver something urgently, such as a critical document that must be delivered to a client in a nearby town.
Two Common Challenges Faced With On-Demand Delivery Services
- The charges are determined by the size of the item that needs to be delivered, where bigger items may result in a more expensive delivery cost than smaller items.
- During peak timings, there may be shortage of delivery riders and drivers which can lead to a longer “wait” time. The increase in demand at that time will also result in a higher cost so it’s best to plan your deliveries accordingly
Standard Delivery Service
If delivery time is not an issue, then another popular delivery option is standard courier delivery service. It is still as popular and has evolved the most since. More and more businesses are either opening up shop online or migrating online completely and this has led to an increase in online shopping. Standard courier delivery services have taken up the helm of delivering all these goods to consumers in a timely manner.
What’s Great About It?
One of the best parts of using a standard courier delivery service is that it not only covers a larger area of delivery, but you can also send your parcels or items to virtually anywhere in the country. Larger courier firms also deliver internationally, with a variety of vessels to choose from based on your requirements, timeline, and budget. Using a standard courier delivery service is also cheaper and more convenient than on-demand delivery. If you are a company owner that sends many parcels in a day to multiple locations and states, then a standard courier service is the best option. With a standard courier delivery program, you can also deliver most of the items other than perishables.
Two Common Challenges Faced With Standard Courier Delivery Service
- The downside to a standard courier delivery service is that its delivery time is longer than on-demand delivery. If the address is close, it will take at least 2 days to deliver parcels, and more if it is farther.
- Parcel tracking can be difficult and inaccurate, though parcels almost always arrive at the receiver's doorstep.
Conclusion
No matter what you want to deliver or be delivered to you, the logistics sector is huge enough to take on the task. Brands like Kwik Pik,leverage web3 technology to provide excellence in delivery to the African and Middle Eastern Supply Chain industries. With the app, you can easily track shipments,manage inventories and schedule deliveries. Download the Kwik Pik app Here for iOS and Here for android and start delivering your parcels with Kwik Pik!
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Logistics plays a crucial role in the success of any business, managing the flow of goods and services from origin to consumption. Selecting the right logistics provider is essential for optimizing cost, speed, and efficiency. This comprehensive guide will delve into the key factors to consider when choosing a logistics provider. We will also explore the benefits of using logistics for your business and how partnering with a leading Logistics provider like Kwik Pik Delivery Service can help optimize your logistics operations and focus on the core aspects of your business with confidence.
What criteria should be used to select and evaluate logistics service providers?
1. Reputation: The reputation of a logistics provider is an important consideration. Look for providers with a solid track record and positive reviews from previous clients. Check for industry certifications and awards reflecting the provider's commitment to quality and service excellence.
2. Services: Assess your business's specific logistics needs and ensure the provider offers a comprehensive range of services to meet those requirements. Transportation, warehousing, inventory management, customs clearance, and value-added services are examples of the benefits to evaluate.
3. Price: Logistics costs can significantly impact your bottom line, so it's essential to compare prices from multiple providers. However, do not base your decision solely on price; consider the value offered by the Logistics provider, such as reliability, efficiency, and customer support.
4. Customer Service: Logistics operations can encounter challenges, and responsive customer service is crucial. As a business owner, look for providers that offer 24/7 customer support and have a reputation for prompt and effective communication.
Five Benefits of Using a Logistics Service
1. Cost savings: Logistics providers can help you save money by streamlining your supply chain, reducing inventory costs, and optimizing your transportation routes. Outsourcing logistics can also reduce the need for your business to invest in expensive equipment and technology.
2. Improved customer service: Logistics providers can help you improve customer service by ensuring that your products are delivered on time, in good condition, and to the right place. They can also provide real-time tracking information so that customers can see where their orders are at all times.
3. Increased efficiency: Logistics providers can help you increase efficiency by taking over all the tasks involved in shipping and receiving goods. This frees up your employees to focus on other areas of your business, such as sales and marketing.
4. Reduced risk: Logistics providers can help you reduce risk by taking responsibility for the safety of your goods during transit. They also have experience dealing with all types of shipping issues, so you can be confident that your goods will arrive safely and on time.
5. Access to new markets: Logistics providers can help you expand into new markets by providing you with the transportation and warehousing services you need to reach new customers. They can also help you comply with all of the regulations that apply to shipping goods in different countries.
6. Peace of mind: When you outsource your logistics to a reputable provider, like Kwik Pik Logistics Company you can be rest assured that your goods are in good hands. You can focus on running your business knowing that your logistics needs are being taken care of.
If you are looking for ways to improve your business, outsourcing logistics is a great option. Kwik Pik Delivery Service brings extensive knowledge and expertise to the table. They can provide tailored solutions to optimize your logistics operations and streamline processes. In addition, protecting your goods is a top priority for the company as they implement robust security measures, and to safeguard your inventory throughout the supply chain. To learn more about Kwik Pik, visit the company’s website and download their user-friendly app. It is available for free on both iOS and Android devices.
Conclusion
Selecting the right logistics provider is a critical decision that can impact your business's efficiency and bottom line. By partnering with Kwik Pik, you can streamline your logistics operations and focus on the core aspects of your business with confidence.
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Cyberattacks put your money, data, and IT equipment at risk. If a hacker gains access to your network, they can inflict significant damage with what they find.
It's important to protect your business from cyberattacks, but with the cyber landscape evolving all the time, it can be daunting to know where to start. Here’s a guide to help small businesses navigate the world of cyber threats.
1:Secure Your wifi-networks
Businesses can protect their Wi-Fi network from breaches by hackers by changing the name of their wireless access point or router, also known as the Service Set Identifier (SSID). They can use a complex Pre-shared Key (PSK) passphrase for additional security.
2:Guard against physical theft
While businesses need to be mindful of hackers trying to breach your network, they mustn't forget that hardware can be stolen too. Unauthorized individuals should be prevented from gaining access to business devices such as laptops, PCs, scanners, and so on. This may include physically securing the device or adding a physical tracker to recover the device in case of loss or theft. Ensure all employees understand the importance of any data that might be stored on their cell phones or laptops when out and about.
3: Ensure third parties who deal with your Business are also secured.
Be wary of other businesses such as partners or suppliers who may be granted access to your systems. Make sure they are following similar practices to you. Don’t be afraid to check before you grant access to anybody.
4: Training Employees.
Invest in cyber security trainings for the employees,for instance they can be educated with the importance of strong password and how to spot phishing emails.And also educate them on the different types of cyber attacks and how to avoid and navigate them.
5: Deploy Anti-virus software.
Choose softwares that can protect business devices from viruses.keep antivirus updated to avoid latest cyber threats.
Businesses can also employ the service of cyber security experts to help the business remain secured.
6:Back up business files regularly.
When you cyber attacks occur,files and data can be compromised or lost/deleted.But if the business has been current in backing up it's files and data it might avoid the end of the business due to loss of important files or data .
Also choose a program that gives you the ability to schedule or automate the backup progress.
7:Limit access to sensitive data.
Restrict the number of people in a business environment with access to critical data to a minimum.so as to avoid the impact of bad faith actors in the business.set up strategies that will help assign important task to individuals or groups that are identifiable and can be held responsible and accountable.
Cyber threats aren't just a problem for big corporations and governments – small businesses can be targets too. In fact, there is evidence that small businesses are more vulnerable to cyberattacks, not least because they sometimes lack the resources to protect themselves effectively.
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That emotional connection you have with a brand is what makes it stand out. It’s what makes you want to buy their products or use their services. And for startups, creating that emotional connection is critical to building a loyal customer base.
A solid branding strategy involves creating a unique identity that resonates with the target audience. This includes defining the brand’s values, voice, and personality, and developing a visual identity that reflects these elements. The branding strategy should be consistent across all touchpoints, from the website and social media channels to product packaging and customer service.
However, developing a successful branding strategy is not easy. Many startups make the mistake of copying their competitors or relying too heavily on trends, which can lead to a lack of differentiation in the market. Others may not invest enough time or resources into branding, resulting in a weak or inconsistent identity.
That’s where storytelling comes in. By telling the story of the brand and its founders, startups can create a connection with their audience and build a strong emotional bond. Storytelling can help highlight the unique aspects of the brand, its values, and its vision, helping it stand out in a crowded market.
For B2B startups, the branding strategy may differ from B2C brands. In a B2B environment, the focus is on building trust and credibility with other businesses.
This may involve strategies such as thought leadership, case studies, and industry-specific messaging.
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Cryptocurrency adoption has continued to ride and thrive like a moving train, despite the hurdles that have stood in front of the industry. On a continent that was once believed to be an ancient relic of a primitive time, cryptocurrency has turned out to be of great interest to young Africans. In Nigeria, for instance, there are different perceptions of the industry. Some believe anything that has cryptocurrency in it is a scam, while others believe it is simply a get-rich-quick scheme. Thanks to various organizations and companies that have dedicated their time to organizing events to cure myopia among the African populace, we are getting a better idea of what the industry really is about. Before we get into the topic of the day, let's know what cryptocurrency wallets are.
What Are Cryptocurrency Wallets?
Cryptocurrency wallets are digital wallets used to store digital assets like Bitcoin and Ethereum securely. According to the Coinbase website, "crypto wallets keep your private keys—the passwords that give you access to your cryptocurrencies—safe and accessible, allowing you to send and receive cryptocurrencies like Bitcoin and Ethereum. They come in many forms, from hardware wallets like Ledger (which looks like a USB stick) to mobile apps like Coinbase Wallet, which makes using crypto as easy as shopping with a credit card online."
Cryptocurrency wallets are not like traditional wallets. Unlike a physical wallet that can be stolen or lost, a crypto wallet is a digital asset that can be easily accessed by hackers if not secured properly. They are computer or mobile software programs that employ an internet connection to connect to the blockchain network of the cryptocurrency you're making use of. Cryptocurrencies aren't just kept anywhere. They are pieces of data saved in an organized database or ledger. These pieces of information are dispersed throughout the database; nevertheless, the wallet locates all the pieces connected to your public address and adds up the total for you via the app's UI.
Using these applications, sending and receiving cryptocurrency is incredibly simple. Several options are available for sending and receiving cryptocurrency from your wallet. The standard procedure is to enter the wallet address of the receiver, select an amount to transfer, sign the transaction using your private key, add funds to cover the transaction fee, and send it.
There are two types of wallets, custodial wallets and non-custodial wallets. Custodial wallets are hosted by a third party, which might be a company that offers high-level data security technologies used by companies to protect and safeguard their data. Some crypto exchanges offer these services to their customers. Non-custodial wallets are wallets where you are responsible for securing your keys. This is the type of wallet that most cryptocurrency wallets on devices use. There are also two categories of wallets: hot and cold. A hot wallet is one that has an internet connection, while a cold wallet does not.
Now that we have basic knowledge of what crypto wallets are, let's explore some of the best practices to keep your wallet safe.
1. Choose a Reputable Wallet Provider: The first step in securing your cryptocurrency wallet is to choose a reputable wallet provider. Do thorough research before selecting one, and find out which providers have a strong history of safe operations. Some popular wallet providers to consider include Trust Wallet, Ledger, Trezor, and MyEtherWallet, while you could also consider saving your funds with crypto exchanges like CoinW and Binance.
2. Use Two-Factor Authentication: Two-factor authentication adds an extra layer of security to your wallet. It requires you to enter a code generated by an app or sent to your phone before accessing your wallet. This can help protect your wallet against hacking attempts.
3. Keep Your Private Keys Safe: Your private key is like the password to your cryptocurrency wallet. If someone gets hold of it, they can easily access your funds. Never share or store your private key online. Instead, store it on an offline device like a hardware wallet or a paper wallet.
4. Use a Strong Password: A strong password should be complex and contain a mix of uppercase and lowercase letters, numbers, and symbols. Avoid using easy-to-guess passwords like your name or birthdate. Change your password regularly and do not use it on any other online accounts.
5. Keep Your Wallet Software Up-To-Date: Keeping your wallet software up-to-date is important because it ensures that any security loopholes are fixed. Developers often release updates to address any vulnerabilities identified in the previous version.
6. Backup Your Wallet Regularly: If you lose access to your wallet or forget your password, a backup can save you. It is important to store backups of your wallet on other devices in case your primary device is damaged or lost.
7. Be Cautious of Phishing Scams: Phishing scams are common in the cryptocurrency space. Fraudsters often send fake emails and messages asking for your private keys or other sensitive information. Always verify the authenticity of any email or message before responding.
In conclusion, securing your cryptocurrency wallet requires a bit of effort, but it is worth it to protect your assets. By following the best practices outlined above, you can help keep your crypto wallet safe from hackers and other types of security breaches.
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Search engine optimization is the science of improving a website to increase its visibility when people search for products or services. The more visibility a website has on search engines, the more likely it is that brand captures business.
SEO means Search Engine Optimization and is the process used to optimize a website's technical configuration, content relevance and link popularity so its pages can become easily findable, more relevant and popular towards user search queries, and as a consequence, search engines rank them better.
Benefits of SEO to tech startups are outlined as follows,so as to display and encourage their adoption.
1.Builds trust and credibility
Businesses that are the highest ranked on SEO tend to be considered as offering the highest quality of the product and gives confidence to the searcher that the are trust worthy.
2.Provides competitive advantage
Businesses that adopt SEO strategy have and build a competitive advantage over those other businesses who do not.
3.Expands Reach
It helps businesses to reach more people beyond just their locality to the global world at large.The use of SEO helps a business become global no matter how small it is at the time.
4.Supports content marketing
Content marketing and SEO work in harmony, because keywords can be used to build contents which will make the business more visible,when searchers use the search engines.
5.Helps businesses adapt to web environment
Businesses who employ SEO strategy are kept up to date,and always informed to as to make better and we'll informed decisions about their business environment.
6.Relatively inexpensive
A business with the right team can reduce the cost of hiring SEO experts,therefore reducing the cost of utilizing SEO for their business.
Finally,Search engine optimization is an essential marketing activity to make a website or business visible on the web. But it also provides several other benefits to companies,therefore businesses are encouraged to adopt SEO in there businesses to as to remain competitive in the global market.
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Delivery services can be a quick and convenient way to get your shipments delivered straight to your door.
There are a variety of ways to order and pay for goods, however, delivery service apps make things quicker, faster and more convenient.
There are many factors to consider when deciding on a delivery service that is right for you.
These Factors includes:
- Availability : Are they available within your Country or Region
- Selection :Certain “Apps” have partnered with a wide range of businesses that include various ordering options
- Range of available items :Some apps offer many different types of items.
- Additional Fees: We prioritized apps that charge fewer fees to help us get the most bang for our buck.
- Convenience :All apps provide a convenient and time-saving way to order delivery remotely
Here Are 5 Of The Top Delivery Service Mobile Apps..
- Bowmenn :Bowmenn trucking is a smartphone app that matches carriers with shippers. bowmenn puts drivers first by making it easier than ever to find and book loads with trucks, pickup trucks, and cargo vans. Getting a load is made simpler, because the price you see is the price the customer paid.”
- Darum :Darum is a on-demand dispatching service that is available in Lagos, Nigeria. With a network of registered courier firms, you can now send a parcel to any address in the city at any time and anywhere. All you need to do is launch your app and select your pickup and delivery address, and a dispatch rider nearby will help you get it done.
- GIGGO: The GIGGO app allows users to quickly and easily ship their goods from their homes and offices, reducing the need to constantly wait at pickup locations. Once a request is made, the app locates a delivery partner closest to it and assigns the delivery request for pickup. The GIGGO app allows you to track the delivery partner on his way to pick up your parcel, ship multiple items to the same address, and track the delivery status of each shipment.
- Kwik PIK Delivery Service :Kwik Pik is a startup logistic aggregator that leverages web3 technology to provide excellence in delivery to the African and Middle Eastern Supply Chain industries. It provides Kwik-on demand,point- to- point Delivery as a service (Daas) technology platform powered by a scalable independent network of approved drivers and vehicle . With the app, you can easily track shipments,manage inventories and schedule deliveries. To download the app Click Here for iOS and Here for android.
- Farerun :"a made in africa logistics firm dedicated to providing a seamless and stress-free experience to customers, drivers, and merchants."
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In today's fast-paced world, where time is of the essence, delivery services have become a vital component of the modern lifestyle. Nigeria, a country with a rapidly growing economy and a thriving e-commerce sector, has witnessed a significant rise in the popularity of delivery as a service.
This article delves into the advantages and drawbacks of this phenomenon, shedding light on how it has revolutionized convenience for consumers while posing challenges to businesses in Nigeria.
The Rise of Delivery as a Service in Nigeria:
The advent of technology, coupled with the increasing accessibility to the internet, has paved the way for the growth of delivery services in Nigeria. From food delivery to e-commerce packages, consumers now have the convenience of receiving goods and services at their doorstep, saving time and effort.
What's Delivery as a Service (DaaS)? It's a relatively new business model that has emerged in the Nigerian market in recent years. This model involves outsourcing delivery logistics to a third party provider, allowing businesses to focus on their core operations while leaving the delivery of goods to experts. DaaS has given rise to new opportunities for entrepreneurs in the delivery sector. This is especially with the emergence of Kwik Pik delivery services in Nigeria.
Pros of Delivery as a Services
1. Convenience: One of the most prominent advantages of delivery as a service is the convenience it offers to consumers. With just a few clicks on a mobile app or website, customers can place orders from the comfort of their homes or offices, eliminating the need to travel to physical stores.
2. Time-saving: Delivery services in Nigeria have drastically reduced the time required to obtain goods and services. Consumers can now receive their orders within hours or even minutes, depending on the proximity and availability of the service. This efficiency has made it possible for individuals with busy schedules to meet their needs without sacrificing their valuable time.
3. Accessibility: Delivery services have bridged the gap between businesses and consumers, particularly in remote or underserved areas. This accessibility ensures that individuals living in regions with limited access to goods and services can now enjoy a wide range of products without the need for long-distance travel.
4. Job Creation: The rise of delivery as a service in Nigeria has led to the creation of employment opportunities, particularly in the logistics sector. From delivery drivers to warehouse staff, this industry has become a significant source of income for many individuals, contributing to the country's economic growth.
Cons of Delivery as a Service:
1. Cost: While delivery services provide convenience, they often come with additional charges. Consumers may have to pay delivery fees, and in some cases, prices for products may be inflated to cover the cost of delivery. This can be a deterrent for price-sensitive customers, limiting their ability to utilize these services frequently.
2. Infrastructure Challenges: Nigeria's vast geography and underdeveloped infrastructure pose challenges for delivery services. Poor road networks, traffic congestion, and inadequate addressing systems can lead to delays and complications in the delivery process. This can negatively impact the reliability and efficiency of the service.
3. Security Concerns: Delivery as a service entails entrusting personal information, such as addresses and payment details, to the service providers. While efforts are made to ensure data protection and security, there is always a risk of data breaches or unauthorized access, which can erode consumer trust and confidence in the service.
4. Inability to track goods being delivered: There’s a common concern from clients in the area of not being able to track the delivery agent’s dispatch rider, so as to know the possible time frame that the goods will be delivered. This is because most of these dispatch rider can only mostly be contacted via a phone call and hence whatever the rider tells you about his location is what you have to belief.
In conclusion, delivery as a service has undoubtedly transformed the way Nigerians access goods and services, offering speed, convenience, and accessibility. While there are clear benefits, such as time-saving and expanded job opportunities, challenges remain. Businesses and policymakers need to work together to address issues such as infrastructure development, cost management, dart in package tracking and security measures to maximize the benefits and mitigate the drawbacks.
As technology continues to advance, the delivery sector in Nigeria will undoubtedly revolutionize the way Nigerians sends and receives goods thereby striking a balance between convenience and satisfaction cum profitability for both customers and businesses and then enhance economic growth in general for the nation. At kwik Pik be rest assured that you would enjoy fast, reliable and convenient delivery of your goods and services. Download app from google play and apps store
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E-commerce has changed the business world into a digital market.which has been achieved through technological advancements,and increase in small capital start up Businesses.
There is need therefore a break down of simplified and precise measure to take so as to start up an online business or store
1.Choose what to sell
this is usually the most difficult task to achieve in starting an online business, because, now there is need to decide by considering several factors,which could include the availability of the product,the desirability of the product e.t.c and this could be a very herculean task.
2.Evaluate the sellability of your product
who are the targeted audience for your products and how much are they willing to buy,and at what rate are they buying.its is important that we decide the desirability of the product you want to sell,so as no to invest your capital in products that will stagnate your capital.
3.Availability of the product
How fast and how easily accessible are your products,don't sell a product that you are not sure where to restock from when you run out of products,and also don't sell products that's their raw materials are relatively scarce.tbis could be detrimental if not thoroughly considered.
4.Thoroughly study your competitors
Here the SWOT analysis could be very strategic to execute this,so as to have a competitive advantage and not be thrown out of business by your competitors.
this also helps you to differentiate your business from your competitors business and amplify to your audience the benefits of your own brand overs theirs.
5.Write a business plan
A business plan helps you bring your ideas together,so as to present your business in a much more organized form.it arranges priorities of a business, highlights the mission of the business,thereby showing potential investors and employees the core values of your brand.
6.Choose a business name and logo
this is aimed at helping you give your brand it's own distinct identity,and also make it easier for your customers to identify and locate your own brand with complications.
An online business or store can be very easy and yet complicated to start if the right measures are not taken,so build your brand through these precise and yet simplified ways.
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The tech ecosystem in Africa is proof that there will continue to be a growing population of software developers coming out of Africa. Since the start of the covid-19 pandemic, the world has leaned toward remote, hybrid work, which enables African talent to be considered globally. Further, with the development of new technologies and software not slowing down anytime soon – as more countries are adopting technology and innovating faster – African developers are an attractive asset for remote teams.
*Cost effective
While the global average for software developers ranges between USD 80,000 - 120,000, senior developers in Africa are seeing an increase in their income from USD 11,000 - 55,500 on average. The global salary range for junior developers is around USD 65,000 - 91,000, compared to junior software developers from Africa who earn much less – especially considering they mostly work remotely,also there is no office space cost since they work remotely.
*Diversity in teams
having a team located across the globe improves your product and service and opens your eyes to different perspectives.therefore employers hire developers from across the globe to gain ground and also have a rigid stand in the global tech world.
*Creating employment
When tech companies hire from Africa it helps to pull help to increase employment and development in that area.so many African tech talents who have been hired by foreign tech companies have gain personal development and exposure,and this could help them bring more development to their areas and regions.
*Contributing to local development
hiring of African talents will help improve the quality of talent and equip them for global relevance.International companies can contribute to local development by hiring developers from those areas.
*Language and communication
Many African countries either speak English or French, therefore it bridges the gap in communication problem as many international companies are also English and French countries.this majorly increases the number of tech talents hired from African countries globally.
*Technology adoption and solving the global IT talent shortage
the tech industries globally has been growing and a lot of new tech companies are still springing up , therefore more developers are needed to fill those new roles as new tech Start ups are still being founded,and Africa has a very large population and tech developers are also increasingly rising from africa.thereby drawing the attention of foreign tech companies.
Conclusively
Most developers are resilient, and you begin to understand how resilient they are when you hire software developers from Africa. Not only have they been able to overcome barriers frequently experienced in Africa, like infrastructure issues, but they have also trained themselves to become world-class communicators and software developers. This makes them independent, agile, and self-motivated, which is a great advantage to employers.
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Knowing that there has been a recent tech awakening across Africa and that youths are more heavily invested in this change,the global economy has felt the impact of African tech personnels, through it's contributions to the tech world.
*. Africa's high population
This has been a major factor that has contributed to the impact of Africa's Tech Talent to the global economy, because Africa has a high population,and there has been an awakening in tech, thereby leading to many Africans going into the tech world.
*The increase in new tech players in Africa
The massive increase in the growth of tech players from Africa has contributed to the boost on the economy.
this has also attracted the attention of international companies and venture capitalists (Vcs)to the region to hire tech talents to work in these international companies,and also helped in the funding of tech ideas in the African region.
*African developers are resilient
Africans are resilient in their pursuit, therefore they tend to learn fast and adapt to any environment they find themselves.this has be confirmed by many international organizations that have African talents in their team.
*Overcoming obstacles
Tech Talents in Africa have overcome infrastructural challenges to become visible in the global tech stage,these has made their efforts visible in the economy.
Africans train themselves to become world class communicators and software developers.they are independent,agile and self motivated.
Conclusion
As Africa continues to be a major destination for tech investors, with the volume of venture capital flowing into the continent tripling over the past years, software developer openings continue to grow. Tech companies are setting up new offices across Africa and hiring local software developers to fill the available tech roles,Not only does this expansion create more jobs, but it also impacts the economy – both on a local and global scale. It will be interesting to see the impact African software developers continue to have on the global economy in the coming years.
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An overthinker is someone who tends to dwell on their thoughts and worries to an unhealthy degree. Because they are constantly second-guessing themselves and considering all possible outcomes, they may struggle to make decisions or take action.If you happen to have difficulty in this area, here are some healthy factors to help you overcome it:
1. The problem is rarely the problem
You and your thoughts are responsible for 99% of the damage.
in reality, what actually happens, and the outcome are responsible for 1% of the harm.
Most of the time, the problem isn't the problem. It is the way you approach the problem.
You mght have no control over what happens around you, but you certainly do have control over how you react to it.
2. Avoid Self-rejection
Do you believe you are unworthy of such an opportunity? In any case, apply for it.
Do you believe your article is inadequate? Regardless, publish it.
Do you believe they will not respond to your e mail? Send it nevertheless.
Never rationalize yourself into self-rejection.
3. Silence and time
The truth is that most problems can be solved with less thought rather than more.
The majority of the answers you seek can be found in isolation, leisure, and with a clear mind.
Don't try to solve a problem if you can't solve it.
4. An important question
When you begin to blame yourself for past mistakes or picture danger lurking around every corner, ask yourself:
"Is there anything I can do right now to change the past or influence the future in a positive way?"
Take action if the answer is affirmative.
If the answer is no, accept it and let it go.
You must either act or let it go; anything else is self-harm.
5. The power of now
You will not overthink your way to a brighter future.
You're not going to reason your way out of a bad situation.
Because tomorrow is not guaranteed, all you have is right now.
And what you do NOW can make your past right and your future better.
Make peace with yesterday, let go of tomorrow, and seize the now.
live in the moment, focus on the now.
6. Fact check your own thoughts
In your mind, your ideas will construct scenarios that represent your insecurities, concerns, and worries.
As a result, it's critical to always double-check your own ideas before accepting them, because in highly emotional situations, your mind will tell you lies.
Fact check yourself.
7. Acceptance is peace
No amount of worry can affect your future, and no amount of regret can change your past.
Acceptance leads to peace:
-Accept your flaws.
-Accept the unknown.
-Accept the inexorable.
You don't have to understand, tolerate, or even forget anything, but you must accept it if you desire serenity.
Practice mindfulness.
8. Health starts in your mind
You can go to the gym, eat healthily, practice yoga, drink water, and take supplements, but you will never be genuinely 'healthy!' unless you tackle the negativity in your thinking.
our health is not assessed by scales, muscular size, or waist circumference.
The quality of our thoughts and the calm of our mind are indicators of true wellness. Health begins in the mind.
Change your mindset.
All of this is to say that things improve when you allow yourself to believe in yourself, give yourself a break and have an optimistic attitude.
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The current new narrative in the cryptocurrency space has been the Brc-20 and its opportunities therein, it is the existing network on the Bitcoin blockchain and it leverages on the Bitcoin popularity and sovereignty alongside its security and decentralized nature.
It’s inspired by the Ethereum ERC-20 token standards but with quite a notable difference between the duos, as the former leverages on ordinal inscription on satoshi to create its tokens. While the later uses smart contracts codes built on the Ethereum Virtual Machine (EVM) on the Ethereum blockchain to create its tokens.
What’s Brc-20 Token Standards?
This is an experimental token standard that uses ordinal inscriptions to enable minting and transfer of fungible tokens on the bitcoin blockchain. Brc-20 token was introduced on the 9th of March, 2023 by a pseudonymous blockchain enthusiast known as ‘Domo’ and on the same day, he launched the first brc-20 token known as ‘Ordi’.
Since then, there have been about 24,677 of Brc-20 tokens in existence on the network. The current market capital is $472,554,369 with a 24 hours trading volume of $206,705,219 as the time of filing this report. Top meme tokens on brc-20 are the Ordi, with a market capital of $318,000,704 and a price of $15.14 though with an all-time high of $27, others are Oshi and Pepe. There’s usually a limit to be minted per time.
How is Brc-20 token created?
The brc-20 fungible tokens are created by attaching a Javascript Object Notation (JSON) to satoshi through bitcoin ordinals. This JSON code bit defines every features of the brc-20 tokens such as minting and distribution and the bitcoin network decodes this information once deployed.
Bitcoin Ordinals: is the systematic numbering and transferring of every satoshi on the Bitcoin network according to its order of issuance. Satoshi is the smallest unit of currency on the bitcoin network, 1 Bitcoin is equals to 100,000,000 satoshis. Other usecases of the brc-20 is the Ordinal NFTs.
Ordinal NFTs are non-fungible tokens and they are created by attaching a digital asset file, e.g. images to satoshi. The brc-20 tokens are minted and spent like any other normal tokens. A bitcoin ordinal wallet is required to mint brc-20 tokens with a limit for each mint.
Platform needed to interact with Brc-20 network
There are several platforms where one can mint, buy/sell and transfer brc-20 tokens such as on brc-20.io, ordinalswallet.com and unisat.io, though the minting option is yet to be available on the later. Don’t forget that you need to create a wallet with any of them and fund with Bitcoin for gas fees
Opportunities in Brc-20 token networks
Just like in any other blockchain networks, opportunities abound, such as peer-to-peer trading on the network’s exchange as one can decide to be a merchant.
Secondly, arbitrage trading opportunity where one can mint or buy from the brc-20 network exchange at a cheaper rate and then sell in the centralized exchange with some profits.
And lastly, is the that brc-20 tokens can as well be used for decentralized finance (DeFi) on the bitcoin blockchian, since brc-20 tokens are flexible and so can be integrated into decentralized exchanges, lending protocols and yield farming systems.
In conclusion, the brc-20 tokens are experimental token standards that uses ordinal inscriptions to enable the minting and transfer of fungible tokens on the Bitcoin blockchain and it has had an eruptic effects on the bitcoin networks within its few months of inceptions, it has had a market capital of $472,554,369 million with about 24,677 tokens already deployed. Opportunities in this network are the P2P and arbitrage trading and the DeFi protocols on the network among others. The brc-20 token network though experimental but seems it has come to stay.
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A lot of Folks these days are transitioning into the tech industry, it seams like a trend .
While transitioning into tech offers you a vast amount of opportunities, it's important for you to know what you are getting into before you start your Journey
Here Are A Few Things You Can Learn From My Own Journey
1. Be Prepared Not To Give Up : Every Industry has its own perculiar challenge. The tech industry can be even more challenging for you coming from a "non-tech background " But you must understand that "nothing good grows in a comfortable environment" I heard that statement from Mrs Confidence Staveley, CEO, Cyber Safe Foundation. It did not mean much to me until I started the 7 month intensive course in March. The tech industry is not an easy one , so you must come prepared not to "chicken out"
2. Ask A Lot Of Questions: Google and YouTube should be your biggest allies. Find people who know more than you do and ask them the right questions so you won't lose your way ..
3.Be Involved In A Community Of Like Minds: This is of utmost importance and will make your journey a lot easier . Being in a community has helped me immensely. It's part of the reason why I am enjoying my cybersecurity journey. The support and encouragement you get from such communities will contribute to your success in the industry
4. ENJOY EACH MOMENT AND HAVE FUN!
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Artificial intelligence is the simulation of human intelligence processes by machines, especially computer systems. Specific applications of AI include expert systems, natural language processing, speech recognition and machine vision.
The technology handles tasks at a pace and scale that humans can't match. At the same time, by removing such tasks from human workers' responsibilities, AI allows those workers to move to higher-value tasks that technology can't do.
Businesses in Africa,can become Leading AI experts and expound on areas where artificial intelligence technologies can improve their business operations and services.
These areas could includes the following and more;
1. AI Technology Enhances Productivity
When you reduce tasks from your employees’ to-do list, they are likely to focus on excellence in what they do.
With AI technology, you will not have to pile a lot of work for your employees to handle since AI will do the most work. This allows your workforce to do what they are best in, thus boosting productivity.
If your business involves constant communication with customers throughout the day, AI will offer real-time assistance. For example, in the travel industry, which has millions of thousands of passengers every day, AI can pass important travel information to passengers.
2. Enhancing Smart and accurate decision making
In the modern economy, data is an invaluable resource in any business. However, if you cannot make any sense of it, your business data will be useless.
AI machines are efficient at quick data processing to generate relevant answers to any question arising in the business. They offer accurate predictions, and customers’ needs based on what they learn.
No human will be fast and yet perfect, as the AI technology in predictive analytics.
3. Improving Customer Experience
AI-driven chatbots allow businesses to provide customer care services 24/7. AI has enabled companies to automate communications through emails, online chats, and even telephone calls.
The good thing with AI is that they can interact with many customers simultaneously and respond to their questions effectively on websites or apps.
4.Reducing Errors
While artificial intelligence is not error-free, it is by far more accurate than human beings.
Mostly, the AI technology accuracy ranges from 99 to 100 percent, even for very urbane systems.
In any company, the most time-consuming process yet prone to human error is cash flow forecasting. AI technology can help in increasing accuracy in forecasting cash flow without manual interference. This gives the business a higher chance of achieving success.
Artificial intelligence is one of the most incredible techs that will transform lives in almost all facets of modern society.
This technology provides significant development opportunities that many businesses and companies have already been fast to grab.
In conclusion,As businesses continue to deploy artificial intelligence technologies within their operations, they are starting to reap tangible benefits, including material gains.
It is also pertinent to ensure that even as African businesses should want to adapt to the use of AI technologies,it is also important to carefully consider the potential ethical and social implications of AI and ensure that its development and deployment are done in a responsible manner.
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The International Labour Organization (ILO) estimates that the unemployment rate in Africa was 7.2% in 2022. This rate has been a significant issue for decades. Concern should be expressed about the continent's high unemployment rate because it has a negative impact on social stability, economic progress, and human growth. The introduction of web 3 technology, however, presents fresh possibilities for overcoming this difficulty. In this essay, we investigate how web 3 might be used to reduce unemployment in Africa.
The International Labour Organization (ILO) estimates that the unemployment rate in Africa was 7.2% in 2022. This rate has been a significant issue for decades. Concern should be expressed about the continent's high unemployment rate because it has a negative impact on social stability, economic progress, and human growth. The introduction of web 3 technology, however, presents fresh possibilities for overcoming this difficulty. In this essay, we investigate how web 3 might be used to reduce unemployment in Africa.The International Labour Organization (ILO) estimates that the unemployment rate in Africa was 7.2% in 2022. This rate has been a significant issue for decades. Concern should be expressed about the continent's high unemployment rate because it has a negative impact on social stability, economic progress, and human growth. The introduction of web 3 technology, however, presents fresh possibilities for overcoming this difficulty. In this essay, we investigate how web 3 might be used to reduce unemployment in Africa.
What is Web 3?
Web 3, also known as the decentralized web, is a new type of internet architecture that is built on blockchain technology. It aims to create a more transparent, decentralized, and secure internet that empowers users to take control of their data and participate in decentralized applications (dApps) without intermediaries. Web 3 enables the creation of new types of business models, platforms, and economies that can potentially create new job opportunities.
Web 3 as a Solution to Unemployment in Africa
Web 3 technology offers several possibilities for curbing unemployment in Africa. Below are some of the ways that web 3 can be leveraged to create jobs and improve economic growth in Africa:
1, Decentralized Job Platforms
Web 3 enables the creation of decentralized job platforms that can connect job seekers with potential employers without intermediaries. These platforms can use smart contracts to ensure transparency, security, and fairness in the hiring process. Decentralized job platforms can help to reduce the cost of hiring, increase access to job opportunities, and promote entrepreneurship in Africa.
2, Decentralized Finance (DeFi) and Microfinance
Web 3 enables the creation of decentralized finance (DeFi) platforms that can provide financial services to the unbanked and underbanked in Africa. These platforms can provide access to loans, savings, and insurance without intermediaries, which can reduce the cost of financial services and increase financial inclusion. DeFi can also promote microfinance by enabling small businesses and entrepreneurs to access capital without collateral.
3, Decentralized Education
Web 3 enables the creation of decentralized education platforms that can provide affordable and accessible education to the masses. These platforms can provide online courses, certifications, and degrees that are recognized globally. Decentralized education can help to bridge the skills gap in Africa, promote entrepreneurship, and enable lifelong learning.
4, Decentralized Identity and Reputation Systems
Web 3 enables the creation of decentralized identity and reputation systems that can enable trust and transparency in online interactions. These systems can help to reduce fraud, increase security, and promote social capital in Africa. Decentralized identity and reputation systems can enable job seekers to build their reputation online, which can increase their chances of getting hired.
5, Decentralized Marketplaces
Web 3 enables the creation of decentralized marketplaces that can connect buyers and sellers without intermediaries. These marketplaces can use smart contracts to ensure transparency, security, and fairness in the buying and selling process. Decentralized marketplaces can help to reduce the cost of transactions, increase access to markets, and promote entrepreneurship in Africa.
Conclusion
There are several ways that web 3 could be used to reduce unemployment in Africa. With the use of Web 3 technology, decentralized markets, identification and reputation systems, decentralized identity and job platforms, and decentralized finance and education systems may all be developed, which would increase employment prospects and boost economic growth in Africa. The adoption of web 3 in Africa, however, will necessitate investments in legislative frameworks, education, and infrastructure that support innovation and entrepreneurship.
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You might think, “I use public wi-fi all the time, and I’ve never had a problem!” Sure, not that you know of, at least. The worrisome truth is—in tandem with the growing remote-worker population—cyberattacks are also on the rise and anyone using public wi-fi is at risk. In a Global Risk Report published in 2020, cyberattacks were named the fifth top-rated risk for companies across public and private sectors, and those attacks are expected to climb in ranking soon. The FBI reported 791,790 complaints of suspected internet crime in 2020—which is 300,000 more than reported in 2019—and estimated the financial toll at more than $4.2 billion. Protecting yourself from the risks of public wi-fi has never been more imperative. This is essential for businesses and individuals in virtually every industry, although some are much more vulnerable than others.
The widespread availability of public Wi-Fi has revolutionized the way we connect to the internet, making it easier than ever to stay online no matter where we are. However, as convenient as public Wi-Fi can be, it also poses significant risks to users' privacy and security. In this article, we will explore the risks and shortcomings of using public Wi-Fi and how unsecured networks can leave users vulnerable to cybercrime.
Risks of using public Wi-Fi:
Public Wi-Fi networks are generally unsecured, which means that anyone who is connected to the same network can potentially intercept and read the data being transmitted between devices. This opens the door to a variety of cybercrimes, such as interception attacks, man-in-the-middle attacks, snooping, and malware infection.
*Interception attacks* occur when a cybercriminal intercepts the communication between two devices and alters it to their advantage. For example, they could intercept a login credential, such as a password, and use it to gain access to sensitive information.
*Man-in-the-middle attacks* are similar to interception attacks, but involve the attacker inserting themselves into the middle of the communication between two devices. The attacker can then eavesdrop on the communication or modify it to their advantage.
*Snooping of data* occurs when a cybercriminal monitors the network traffic to obtain sensitive information such as login credentials or financial data. They can then use this information for their own malicious purposes, such as identity theft or financial fraud.
*Malware infection* is another risk of using public Wi-Fi. Cybercriminals can use unsecured public Wi-Fi networks to distribute malware, such as viruses or ransomware, to unsuspecting users. Once the malware infects a device, it can steal data, encrypt files, or hijack the device.
_Shortcomings of using public Wi-Fi:_
The security measures implemented by public Wi-Fi providers are often inadequate to protect users from cyber threats. This is due to the limitations of securing a public network, such as the large number of users, diverse devices, and lack of control over user behavior.
Public Wi-Fi providers often rely on simple encryption protocols, such as WEP or WPA, which are no longer considered secure. In addition, many public Wi-Fi networks do not require users to enter a password or any other form of authentication, making it easy for cybercriminals to gain access to the network.
Another shortcoming of using public Wi-Fi is the lack of control over user behavior. Users may unwittingly compromise their own security by connecting to a fake network, downloading malicious software, or clicking on phishing links.
_Best practices for using public Wi-Fi safely:_
There are several best practices that users can adopt to reduce the risks of using public Wi-Fi:
Use a virtual private network (VPN): A VPN encrypts all internet traffic between a device and a server, making it difficult for cybercriminals to intercept or read the data.
Avoid sensitive activities: Users should avoid logging into sensitive accounts, such as banking or email, while using public Wi-Fi. If they must do so, they should use two-factor authentication and check for the padlock symbol in the browser address bar.
Keep software up-to-date: Users should keep their devices and software up-to-date to ensure they are protected against known vulnerabilities.
Disable auto-connect: Users should disable auto-connect to public Wi-Fi networks to avoid connecting to a fake network.
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Retroactive airdrops have become one of the most popular ways for crypto enthusiasts to earn free money in the space especially in decentralized finance (DeFi).
Retro-active airdrops usually occurs when a new and existing blockchain releases their new native token to their early adopters as a way to reward them for actively using their protocol and for believing in them and enhancing their early stage growth. The worth of these airdrops are usually mouth-watering, usually running in thousands of dollars per participant. This airdrops usually involve a testnet- the use of free tokens ‘goerli faucet’ or their free native token to test their protocols and the mainnet- the use of ethereum worth few dollars to conduct a live testing of their protocol.
Airdrop is basically giving of cryptocurrency to user’s wallet for free. It’s a marketing tool for crypto start-ups to amass user base for its project, thereby enhancing their crypto project adoption. In this article, we shall be explore the secrets to earning free money via retro-active airdrop, some past renown retro-active airdrops and some potential retroactive airdrops in the near future.
5 Secrets to earning free money in retroactive airdrop
1. Identify token-less protocols: Identify these token-less protocols and interacts with their ecosystems so as to position yourself for their potential retroactive airdrops and ensure to follow them on their social media handles for possible news. These token-less protocols are sometimes new narratives in the ecosystem
2. Learn the technicalities involved: In running testnet or mainnet airdrops, you need to be knowledgeable about how to swap, bridge, provide liquidity, mint NFTs and trade on exchanges running on the protocol
3. Be patient and consistent in testing out the protocols: while interacting with the chains on the protocol, it can sometimes be time consuming and also series of repeated transactions are required of you to amass number of transactions on their explorer as your duration and number of transactions are yardsticks for eligibility.
4. Join an active community: This is where you can learn the rudiments of the airdrops, get prompt information on trending potential projects in this regards and for accountability to follow through. Looking for such community –Tech Nexus Academy is one among others.
5. Keep an eye on the potential airdrop project: This you can do by actively following their social media handles so as to know when you can participate and claim your airdrop, as failure to claim within the stipulated time leads to loss of the airdropped tokens.
Some notable retro-active airdrops in the past
1. The Uniswap airdrop: In September, 2020, this Ethereum-based decentralized exchange airdropped the sum of 150 million governance tokens named UNI to its early user, where each participant could claim 400 UNI worth $1,000 as at the time.
2. DYDX: A decentralized exchange airdropped 7.5% of its token supply to its active users in 2021. Some users got as much as 9,529 token per person, some surpassing $100,000 per person as at the time of launch @ $10.28 per tokens.
3. Arbitrium: This layer 2 blockchain recently on 23rd march, 2023, rewarded its active early users with 1.162 billion ARB tokens, with a maximum of 10,200 ARB per wallet depending on the user’s number, volume and value of transactions at the time.
A wallet received as much as 1.4 million of ARB tokens from multiple addresses worth about $2,000,000 as at then.
4. SUI: A layer one blockchain, the most recent, on May 3rd, 2023 just rewarded its early users with about $2000 worth of their native tokens per person. Sui earmarked 594 million of its token to active users while it was listed at $2 price.
Some potential retroactive airdrops in the future are ZkSync, Layerzero, Starknet, Linea ConsenSYS, Sei, Scroll, KLayer3, zkEVM, Venom and Base among others.
In conclusion retroactive airdropped are free money given as tokens to active users of a token-less protocol, which usually run in thousand (s) of dollars. The secrets to getting such airdrops could be identifying token-less protocols and interacting with their ecosystem, learning the technicalities involved, being patient and diligent in testing their protocols, joining active crypto community and by keeping an eye on the project’s social media handles. Major retroactive airdrops in the past were Uniswap, Dydx and Arbitrium which airdropped thousands of dollars-worth of their tokens to their eligible early users. There are also many potential retroactive airdrops in the future for one to take advantage of.
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When you think of successful tech entrepreneurs, you might picture a Silicon Valley wunderkind with a computer science degree from Stanford. But in Africa, some of the most inspiring and innovative founders are self-made entrepreneurs who started from humble beginnings.
Take the story of Aliko Dangote, for example. Before he became Africa's richest man, with a net worth of over $11 billion, he sold sweets and chewing gum on the streets of Kano, Nigeria. He eventually went on to build a business empire that spans industries from cement to sugar to telecommunications.
Or consider Bethlehem Tilahun Alemu, who grew up in a poor neighborhood in Addis Ababa, Ethiopia. She founded the footwear brand soleRebels, which has since expanded to over 20 countries and is on track to reach $100 million in revenue by 2025.
These bootstrapped entrepreneurs are not only inspiring, but also crucial to the growth of Africa's tech ecosystem. With limited access to traditional financing, many entrepreneurs have had to rely on their own savings and ingenuity to get their businesses off the ground.
And yet, despite the odds, many have succeeded beyond their wildest dreams. In fact, a recent report by the African Development Bank found that 22% of African startups were profitable, with an average annual revenue growth rate of 17%.
So, what makes these entrepreneurs so successful? For one, they often have a deep understanding of the local market and its needs. Many of them have started businesses that address specific pain points in their communities, from affordable housing to mobile payments to e-commerce.
In addition, bootstrapped entrepreneurs tend to be scrappy and resourceful. They know how to stretch a dollar and make the most of limited resources. And because they don't have the luxury of relying on outside investors, they often have to be creative in finding alternative sources of funding, such as grants or crowdfunding.
Of course, bootstrapping isn't without its challenges. It can be difficult to scale a business without outside investment, and many entrepreneurs struggle with limited access to mentorship and business support services.
But as more and more entrepreneurs like Dangote and Alemu prove, it's possible to build a successful business from scratch, even in the face of adversity.
So, the next time you're feeling discouraged about your own entrepreneurial journey, remember the inspiring stories of Africa's bootstrapped entrepreneurs. They prove that with hard work, perseverance, and a little bit of creativity, anything is possible.
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Tunisia, a small country in North Africa, may not be the first place that comes to mind when you think of tech startups. But over the past few years, the country has experienced a boom in entrepreneurship and innovation, with a growing number of startups disrupting traditional industries and solving unique local challenges.
One of the most exciting areas of growth in Tunisia's tech scene is in the fintech sector. In a country where nearly half of the population is unbanked, startups like Paymee and Expensya are helping to bring financial services to underserved communities. Paymee, for example, allows users to make payments and transfer money using their mobile phones, while Expensya helps businesses manage their expenses and streamline their accounting processes.
Another area of innovation in Tunisia is in the field of education technology. With the COVID-19 pandemic forcing schools to close and shift to online learning, startups like GoMyCode and Edumetric have stepped up to provide digital learning solutions for students and teachers. GoMyCode offers coding bootcamps and tech courses online, while Edumetric provides a platform for teachers to create and share educational content.
Tunisia's tech startups are also making waves in the travel and hospitality industry. With tourism being a major source of income for the country, startups like Trip4Care and Wibees are helping to attract more visitors and enhance the travel experience. Trip4Care offers medical tourism services, while Wibees is a platform for booking unique and authentic experiences with local hosts.
Of course, Tunisia's tech scene still faces its share of challenges, including a lack of funding and a shortage of skilled talent. But with the government and private sector investing more in innovation and entrepreneurship, the future looks bright for Tunisia's startups.
In conclusion, Tunisia may be small in size, but it's big on ideas and innovation. From fintech to edtech to traveltech, the country's startups are pushing boundaries and driving progress. Who knows – the next big tech unicorn could be born in Tunisia.
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Background
Many would agree that Africa is the future of the world. With a growing young population coupled with rapid urbanization and fast-growing consumer expenditure, Africa offers attractive opportunities for entities wishing to expand into new frontier markets. Retailing contributions to GDP across the region continue to increase, indicating that the region is consumption driven. According to Euromonitor International, retail sales in the region amounted to over USD500 billion in 2018. Key retailing markets include South Africa, Egypt, Morocco, and Algeria.
The retail sector landscape is changing rapidly. A growing population and larger cities translate into big opportunities for retail. For instance, wholesale and retail are already the 3rd largest contributor to Nigeria’s GDP. Kenya has seen a 54% growth in its number of stores over the last 5 years. South Africa has almost 2,000 shopping malls covering over 24 million square meters. With a surge of investment in technology and infrastructure, Johannesburg is poised to become “Africa’s hippest city.”
Consumption in Africa is expected to continue increasing year over year. A Deloitte Consumer Review states, “At a time when many emerging economies are slowing, Africa is the second-fastest growing economic region behind Asia.”
Introduction
In Morocco, it’s known as a hanout. In Egypt, it’s a bakkal. In Kenya, it’s a duka. In South Africa, it’s a spaza. In the Yoruba language of Southwest Nigeria, it’s an oja. In the Baoule language of Center Cote D’Ivoire, it is called Gwa bo. By whatever name, the traditional retailer is the cornerstone of socioeconomic systems across Africa. Despite the advance of supermarkets, convenience stores, and other modern formats, African consumers on average continue to buy more than 70% of their food, beverages, and personal care products from the continent’s more than 2.5 million small, independent shops.
Africa is made up of a combination of traditional and modern retailing channels. These channels vary by market and are influenced by factors such as economy, state of development, consumer preferences and local culture.
The Challenges
Yet traditional retail in Africa faces many imposing challenges, including the expansion of modern retail, the nascent rise of e-commerce, and changes in consumer behavior that were accelerated by the COVID-19 pandemic. So, what does the future hold? For answers, we studied more than 4,500 small retailers in five of the biggest African markets: Egypt, Kenya, Morocco, Nigeria, and South Africa.
Despite the proliferation of modern retail channels in Africa, traditional and informal retailing dominates due to lack of infrastructure. Traditional channels include independent retailing channels such as small grocers and kiosks. When compared to modern retailers, these outlets offer convenience, flexible trading times, accessibility and lower-priced products. Traditional channels such as Dukas in Kenya and spaza shops in South Africa have been molded to cater to the buying patterns, purchasing power and product preferences of consumers.
The opportunity
“About half of the world’s fastest-growing economies will be located on the continent, with 20 economies expanding at an average rate of 5% or higher over the next five years, faster than the 3.6% rate for the global economy,” writes Brahima Coulibaly, director of Brookings’ Africa Growth Initiative.
The African Union began the operational phase of the African Continental Free Trade Area (AfCFTA) in July 2019. With 22 partners, the agreement has a combined market of 1.2+ billion people and a GDP of $2.5 trillion! AfCFTA has the potential to make Africa the largest free trade area in the world.
“Countries are realizing they need to trade more with others because of an expected increase in revenues and jobs creation, especially for the youth. Intra-African trade is expected to rise to 53.3%, meaning that revenues will increase.” – Vera Songwe, the Executive Secretary of the UN Economic Commission for Africa (ECA).
The Rise of Brands
The emerging middle-class consumer is increasingly brand conscious. Consumer spending is still mostly concentrated in the informal sector of roadside stalls and town markets. However, in East Africa there is already a discernible shift from informal to formal retail.
As retail moves from informal to formal, companies like Walmart and The Carrefour Group are expanding their reach across the continent. Walmart bought a 51% stake in South African retailer Massmart Holdings Ltd. in 2010. Despite some setbacks and leadership changes, Walmart intends to expand the brand with 47 new stores between 2019 and 2021.
The African Development Bank estimates there will be 2.1 trillion USD in consumer spending up for grabs by 2025. Services brands like food and beverage, telecom and banking should be paid attention.
Sub-Saharan Africa has several of the world’s fastest-growing economies. Ethiopia tops this list with an expected 8.5% growth rate for 2019. Since the start of the new millennium, sub-Saharan African nations’ GDP continues to grow at a rate faster than the global average.
To ensure that the retail sector gets more attention and attracts more investment, it is important that the sons and daughters of Africa take bold initiatives, focusing on pragmatism and the sense of real development. By ranking the retail sectors including actors, we will contribute to building the future of the next generation of professionals across the African continent.
The African Market on The Rise
Africa is the market to watch. Africa is filled with innovators. For example, tech startups increased by 40% between 2016 to 2018 and 22% of the working age population are establishing new businesses. Instead of lamenting poor infrastructure, African entrepreneurs are finding clever solutions to get things done. Thus, urbanization, a young and technology embracing population, and improving infrastructure all indicate that Africa is poised for growth and global influence.
Africa has the fastest rate of urbanization in the world. More than 40% of its population is currently living in urban centers. By 2030, Africa’s 18 largest cities will have a combined spending power of $1.3 trillion. Additionally, Africa has as many cities with one million inhabitants as North America.
The Rise of The African Middle Class
Consumption in Africa is expected to continue increasing year over year. A Deloitte Consumer Review states, “At a time when many emerging economies are slowing, Africa is the second-fastest growing economic region behind Asia.”
Moreover, Africa is on track to become the continent with the world’s youngest population. Approximately 70% of Africans are presently under the age of 30. Youth account for around 20% of the population. Fifty three percent of African income earners are between 16 – 34 years old. This is an age group known for their awareness of and eagerness to consume new products.
Moving Forward: What is Next for Retail In Africa?
Africa is the market to watch. Africa is filled with innovators. For example, tech startups increased by 40% between 2016 to 2018 and 22% of the working age population are establishing new businesses. Instead of lamenting poor infrastructure, African entrepreneurs are finding clever solutions to get things done. Thus, urbanization, a young and technology embracing population, and improving infrastructure all indicate that Africa is poised for growth and global influence.
References
Chelica Hiltunen (2019). Retail in Africa: Interesting Facts and Emerging Trends. LinkedIn: https://www2.deloitte.com/content/dam/Deloitte/ng/Documents/consumer-business/the-deloitte-consumer-review-africa-a-21st-century-view.pdf
https://www.linkedin.com/pulse/retail-africa-interesting-facts-emerging-trends-chelica-hiltunen/
Masmart powered by Walmart. Our Operating Model. https://www.massmart.co.za/our-business-model/
Population Connection. https://populationconnection.org/african-urbanization/
McKinsey & Company (2015). Winning in Africa’s consumer market. Our Insights: https://www.mckinsey.com/industries/consumer-packaged-goods/our-insights/winning-in-africas-consumer-market
World Bank Blogs (2022). Youth Bulge: A Demographic Dividend or a Demographic Bomb in Developing Countries? https://blogs.worldbank.org/developmenttalk/youth-bulge-a-demographic-dividend-or-a-demographic-bomb-in-developing-countries
Reinaldo Fiorini, Damian Hattingh, Ally Maclaren, Bill Russo, and Ade Sun-Basorun of McKinsey & Company (2013). Africa’s growing giant: Nigeria’s new retail economy. Our Insights: https://www.mckinsey.com/capabilities/growth-marketing-and-sales/our-insights/africas-growing-giant-nigerias-new-retail-economy
Business Tech (2018). These are the biggest shopping malls in South Africa. https://businesstech.co.za/news/business/246279/these-are-the-biggest-shopping-malls-in-south-africa/
Hannah Walhout (2021). The Top 10 Cities in Africa and the Middle East. Travel+Leisure. https://www.travelandleisure.com/worlds-best/cities-in-africa-middle-east
Prof. Landry Signe (2018). Africa Consumer’s Market Potential: Trends, drivers, opportunities, and strategies. Africa Growth Initiative at Brookings: https://www.brookings.edu/wp-content/uploads/2018/12/Africas-consumer-market-potential.pdf This report was written in collaboration with Chelsea Johnson, Fellow at the London School of Economics and Political Science. Prof. Landry Signe: David M. Rubenstein Fellow, Africa Growth Initiative, Brookings Institution; Distinguished Fellow, Center for African Studies, Stanford University; Andrew Carnegie Fellow, Carnegie Corporation of New York; and Chairman, The Global Network for Africa's Prosperity.
Nqobile Dludla (2019). UPDATE 2-Massmart to focus Africa expansion plans on Kenya, Zambia. REUTERS. https://www.reuters.com/article/massmart-results/update-2-massmart-to-focus-africa-expansion-plans-on-kenya-zambia-idUSL5N20N0QJ
Yinka Adegoke (2019). Africa will have some of the world’s fastest-growing economies in 2019—and a looming debt crisis. Quartz : https://qz.com/africa/1522126/african-economies-to-watch-in-2019-and-looming-debt
Christabel Ligami (2019). Africa’s free trade area: the journey begins. Africa Renewal: https://www.un.org/africarenewal/magazine/august-november-2019/africa%E2%80%99s-free-trade-area-journey-begins
The Future of Retail in Africa. https://www.trendwatching.com/quarterly/2018-05/future-retail-africa
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Fastest Growing Businesses Industries In Africa
Africa is the second-fastest-growing and most lucrative payments and banking sector in the world, only behind Latin America.Over 500 financial technology companies are based on the continent, with the majority in Nigeria, South Africa, and Kenya.
Africa is gaining grounds in the business world, through some major industries which are fast rising and making waves in different African countries.
These industries include the following industries as outline in this article,but are not limited to these, because there are still so many other industries,springing up from different African countries,and they are gainnig grounds and dominating the business world.
Agritech
Agri-tech is the use of technology for farming that is developed to improve efficiency and profitability. While most commonly used in horticulture and agriculture, agri-tech is also found in forestry, aquaculture and viticulture.
The food industry is one of the sectors on the continent with an increasing growth percentage, with many investors profiting from its resources. Business Standard reports that the food industry in Africa saw growth of 3.6% in 2020–21 and 3.9% in 2021–22.
The demand for packaged and processed meals is skyrocketing, and there is a significant increase in the consumption of frozen and dairy products. Other growth-related causes include the expansion and innovation of the food and beverage industry.
E-Commerce Business
Ecommerce is a method of buying and selling goods and services online. The definition of ecommerce business can also include tactics like affiliate marketing. You can use ecommerce channels such as your own website, an established selling website like Amazon, or social media to drive online sales.
African businesses in e-commerce are expanding quickly as a result of innovation and technological advancement. Businesses in this sector enable the online trade of products and services between people and companies.
Africa’s real estate market worth is anticipated to reach USD 180 billion by 2025, according to Vanguard Newspaper. The report also revealed that funding for African eCommerce projects reached over USD 256 million in 2021, an increase of 40% from 2020.
Africa Business Communities said that by 2025, the e-commerce sector is anticipated to produce USD 46.1 billion in annual sales.
Logistics Business
Logistics companies help their clients move goods from one place to another. Some cover the entire journey from pick-up to delivery to the end-user, while others help with part of the process—such as transportation, warehousing, packaging, shipping, or even disposal.
In many African nations, the logistics industry is profitable and growing at a quick pace. No matter where they operate—in Mauritius, South Africa, Ethiopia, Ghana, Kenya, or Nigeria—entrepreneurs reap huge financial benefits.
Africa’s logistics market, according to Market Watch, increased from millions to multi-million dollars between 2017 and 2022. According to Sawya reports, the Suez Canal in Egypt brought in USD 704 million in revenue in July 2022, an increase from the USD 531.8 million reported in July 2021.
With the rise of delivery companies collaborating with both traditional and online merchants, the industry is successful in many African countries.
Real Estate Business
Real estate is defined as the land and any permanent structures, like a home, or improvements attached to the land, whether natural or man-made.
Real estate is a form of real property. It differs from personal property, which is not permanently attached to the land, such as vehicles, boats, jewelry, furniture, and farm equipment.
Due to Africa’s substantial population, there is a considerable demand for both commercial and residential real estate. The Nigerian real estate market expanded by 1.77% in 2021 and 10.84% in the first quarter of 2022, according to Nairametrics. USD 10 billion, or an 8% increase, was generated by the Egyptian real estate industry in 2021.
Nairametrics projects that Egypt’s real estate market would rise by 6.5% in 2022. Kenya’s real estate market increased by 5.2% in the third quarter of 2021, and 5.9% growth is anticipated in 2022. African entrepreneurs profit by leasing, purchasing, and renting out commercial and residential properties, making the real estate industry one of the most lucrative in the continent.
Conclusively,any Aspirant of business in Africa can grow and build on any of this industries and expand because of the growing pace of these industries in the African continent.
Africa has produced a lot of prominent business icons in the business world through these industries and still expanding it's impact through the help of these sky rocketing business adventures.
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Arbitrage trading is a strategy used by investors to profit from the price differences of an asset between two or more markets. It is a popular technique in traditional finance, but it has also found its way into the world of cryptocurrency trading.
Arbitrage trading in crypto involves buying and selling cryptocurrencies on different exchanges or platforms to take advantage of price discrepancies. The goal is to buy the asset at a lower price in one market and sell it at a higher price in another market, making a profit in the process.
To understand how this works, let's take an example. Suppose Bitcoin is trading at $40,000 on Coinbase, but on Binance, it is trading at $40,500. An arbitrage trader can buy Bitcoin on Coinbase at $40,000 and then immediately sell it on Binance for $40,500, pocketing a profit of $500 in the process.
Arbitrage trading can be done in different ways. One of the most common methods is to use a trading bot or algorithm that can automatically scan multiple exchanges for price differences and execute trades on the trader's behalf. This method is known as automated arbitrage trading and is popular among professional traders who have access to sophisticated trading tools.
Another method is manual arbitrage trading, where the trader manually monitors the price differences between multiple exchanges and executes trades manually. This method requires more time and effort but can be profitable if the trader is skilled and experienced.
Arbitrage trading in the crypto market can be risky, as there are several factors that can impact the price of cryptocurrencies. These factors include market volatility, liquidity, and regulatory changes. Additionally, the speed of execution is critical in arbitrage trading, as price discrepancies can disappear quickly, leaving the trader with a loss instead of a profit.
To mitigate these risks, traders need to have a deep understanding of the crypto market and be able to analyze price movements quickly. They also need to use reliable trading platforms that offer fast execution speeds and high liquidity.
In conclusion, arbitrage trading in crypto is a popular strategy used by traders to profit from price differences between different markets. It can be done manually or through automated tools, but requires a deep understanding of the market and fast execution speeds. While it can be profitable, it is also risky, and traders should be careful to mitigate the risks involved.
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In recent years, e-commerce platforms have gained significant traction in Africa, driven by increased internet penetration, a growing middle class, and a rise in mobile phone usage. According to a report by Jumia, Africa's leading e-commerce platform, the continent's e-commerce market grew by 40% in 2020, despite the impact of the COVID-19 pandemic.
While Western e-commerce giants like Amazon and Alibaba have made strides in the African market, local platforms have emerged to cater to the unique needs and challenges of African consumers and businesses.
One of the biggest challenges for e-commerce in Africa is logistics and infrastructure. Many parts of the continent lack reliable postal services or transportation networks, which can make it difficult to deliver goods to customers. To address this challenge, African e-commerce platforms have developed innovative solutions, such as partnering with local delivery services, using motorbikes for last-mile delivery, and offering pickup points in local shops.
Another challenge is trust and payment security. Many Africans are hesitant to use online payment systems, and credit card penetration is relatively low. To build trust and promote adoption, African e-commerce platforms have introduced payment options like mobile money, cash on delivery, and pay-on-pickup.
African e-commerce platforms have also adapted to the unique cultural and linguistic diversity of the continent. Many platforms offer language options beyond English and French, such as Swahili, Yoruba, and Hausa, to cater to local language preferences.
In terms of market share, Jumia is the leading e-commerce platform in Africa, with a presence in 11 countries and over 6 million active customers. However, other local platforms like Konga, MallforAfrica, and Takealot are also gaining traction in their respective markets.
Compared to Western platforms like Amazon and Alibaba, African e-commerce platforms have some key differences. For example, African platforms tend to focus more on consumer goods and daily necessities, rather than luxury goods or electronics. Additionally, African platforms often serve as a marketplace for third-party sellers, rather than selling products directly, which can make it easier for small businesses to enter the market.
However, African e-commerce platforms still face stiff competition from Western giants like Amazon and Alibaba, which have significant resources and experience in the e-commerce industry. For example, Amazon recently launched Amazon Prime in South Africa, offering free and fast shipping to customers.
Despite the challenges and competition, African e-commerce platforms have significant potential to grow and create new opportunities for businesses and consumers. With innovations in logistics, payment security, and language options, African e-commerce platforms can continue to cater to the unique needs and challenges of the African market.
In conclusion, the growth of e-commerce platforms in Africa has been a remarkable success story, and a testament to the innovative spirit and entrepreneurship of Africans. As these platforms continue to evolve and expand, they will play an increasingly important role in driving economic growth and improving access to goods and services across the continent.
https://www.amazon.com/
https://www.alibaba.com/?src=sem_ggl&field=UG&from=sem_ggl&cmpgn=9922923274&adgrp=97780323582&fditm=&tgt=kwd-934428634720&locintrst=&locphyscl=9070182&mtchtyp=e&ntwrk=g&device=c&dvcmdl=&creative=598857653490&plcmnt=&plcmntcat=&aceid=&position=&gclid=Cj0KCQjwxYOiBhC9ARIsANiEIfZj2Mudlfc5s_-ifYjqppDBqRa1jnQ8YSaS4M5I4uxmaVy6Qgb6yrMaAqb9EALw_wcB
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Sometimes when we disagree on something we believe so firmly, we deny any other perspective.
A cognitive bias is an error in thinking that occurs when we are processing and interpreting information. Oftentimes, they are a result of the brain’s attempt to make information processing easier. Our brain creates rules of thumb to help us make sense of the world and reach decisions with relative speed. Unfortunately, the process of speeding up the decision process can sometimes lead to errors.
When it comes to investing, cognitive biases can make our investing behavior illogical. This can lead us to make undesirable financial or investment choices because we draw incorrect conclusions based on some of the thinking errors our brain is making to arrive at those decisions.
To be a successful investor over the long term, we need to understand, and hopefully overcome, some of these common cognitive biases. Doing so can lead to better decision making, which may help lower risk and improve investment returns over time.
Here, we highlight four prominent behavioral biases common among investors. In particular, we look atloss aversion, anchoring bias, herd instinct, overconfidence bias, and confirmation bias.
Confirmation Bias
Confirmation bias is the tendency to seek out information that confirms our existing beliefs and ignore information that contradicts them. In trading, this can lead to a trader only seeking out information that supports their bullish or bearish outlook on a particular asset, and ignoring data that suggests otherwise.
To overcome confirmation bias, traders need to actively seek out information that challenges their beliefs and consider all possible outcomes. One strategy is to keep a trading journal where you can document your thoughts and feelings about trades, and review them later to assess whether you were influenced by confirmation bias.
Anchoring Bias
Anchoring bias is the tendency to rely too heavily on the first piece of information encountered when making a decision. In trading, this can lead to traders fixating on a particular price point or target, and ignoring new information that suggests a different outcome.
To overcome anchoring bias, traders should remain open to new information and adjust their expectations accordingly. One strategy is to set multiple price targets based on different scenarios, and adjust them as new information becomes available.
Loss Aversion Bias
Loss aversion bias is the tendency to feel the pain of losses more strongly than the pleasure of gains. In trading, this can lead to traders holding onto losing positions for too long, hoping that they will eventually turn around, and selling winning positions too soon to secure a profit.
To overcome loss aversion bias, traders should set strict stop-loss orders to limit losses and avoid emotional decision-making. One strategy is to set a maximum loss limit for each trade and stick to it, regardless of whether the trade is winning or losing.
Overconfidence Bias
Overconfidence bias is the tendency to overestimate one's own abilities and knowledge, leading to excessive risk-taking and trading errors. In trading, this can lead to traders making large, risky bets based on their own intuition and disregarding the potential downside.
To overcome overconfidence bias, traders should maintain a healthy skepticism and seek out alternative viewpoints and information. One strategy is to engage in regular self-assessment and analysis of past trades to identify areas for improvement.
Conclusion
Traders tend to make decisions based on their intuition, which leads to cognitive biases such as confirmation bias, self-serving bias and hindsight bias. These biases cause traders to display psychological attribute of overconfidence such as miscalibration, better than average effect and illusion of control over a decision, and thus, display overconfidence bias in their decision making in the securities market.
By doing so, traders can improve their decision-making and increase their chances of success in the unpredictable world of trading.
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