GRBusiness
.ng domain name market valued at N37bn annually
The Nigeria Internet Registration Association (NIRA) has reiterated that .ng, the country code top-level domain (ccTLD) remains a gold mine with potentials of accelerating economic development of the Nigeria.
Speaking at a recent .ng Media College at NiRA office in Lagos, the President, Reverend Sunday Folayan, underscored the role of the media and other professionals to educate members of the public on .ng domain name adoption.
According to him, with a population of over 190 million, internet penetration of over 98.3 million users and business population of over 37 million, the value of .ng domain is great and critical to job creation and poverty reduction.
Rev’ Folayan noted that the .tk domain name, for instance, which belongs to Tokelau, a country of 1.6 million population has well over 21 million .tk domain names sold out and generates one-sixth of its economic revenue, according to a report published by TechEconomy.ng.
He cited Germany as a second example, noting that with a population of about 83 million, .de (which is the country’s domain name) has over 20 million subscriptions already while Nigeria’s .ng domain name has only 106,000 as at June 2018, with 65 domain name registrars.
Rev’ Folayan said, “With a business population of over 37 million, .ng has a market potential of over N37billion annually (assuming an annual renewal rice of N1,000 per .ng domain).
“These are besides the potential businesses from additional registrars and subsequent jobs that will be created.
According to the NIRA President, the Association has witnessed a 50% year on year growth in the number of domain names registered and is poised to maintain the momentum, despite little support from the government.
Folayan listed challenges hindering adoption of .ng domain name to include low awareness among Nigerians, poor infrastructure, preference by many for foreign domain names, poor and inadequate policies to drive .ng domain name and insufficient manpower in the sector.
He said to address the problem of low awareness Informed the media college training for journalists and other professionals such that NIRA and the media can collaborate in an advocacy activities to raise the level of public understanding of the importance of .ng domain name adoption.
He said, “The media college workshop is to inform, educate and forge relationship with the media and build partnership to promote and harness the immense potentials in Nigeria’s .ng ccTLD name. It is also aimed at encouraging creativity and discourse on Domain Name Industry and its relevance in the Legal, ICT and Financial Industries in Nigeria”
The Vice President of NiRA, Muhammed Rudman made case for local hosting of data, arguing that funds spent on foreign hosting companies constitute capital flight.
“It put more strain on our foreign earnings. It slows the growth of local data centers and and delay development of new ones”.
Rudman said that hosting locally provides additional revenue opportunities to local ISPs and data centers which in turn creates more job and technical competencies.
According to the VP, data centers have direct and indirect impact on the economy – Job Creation, Tax , platform for other IT professionals.
“Local content hosted abroad has higher latency than if hosted locally – over 1000%. This makes data access (browsing) slow with poor quality of service. Internet becomes more expensive due to the distance, hence end users pay more. They take less capacity due to the high cost and hence cannot make good use of it. The process of making payment for data hosting becomes a hassle – due to the need to pay in USD,” Rudman said.
The training workshop had the theme “A World of Opportunities: tapping the opportunities in the DNS Industry” was well attended by representatives from major media houses including prints, broadcast, blogs/online.
Micro, Small and Medium-sized Enterprises(SMBs) are the backbone of most economies accounting for 90% of businesses, over 70% of employment, and 50% of global GDP, according to the United Nations. They drive growth, innovation, and job creation worldwide.
In Nigeria, they play a crucial role in stimulating local economies and contributing to the country’s GDP.
Recognising their impact, WhatsApp is committed to empowering SMBs with the tools to succeed through the WhatsApp Business App, by reaching their customers where they already are.
WhatsApp continues to be the best way for people and businesses to get business done in Nigeria. With its efficient features, the WhatsApp Business App has become an indispensable tool for small businesses, helping them streamline communication, enhance customer engagement and drive sales. And we know customers love communicating with businesses over WhatsApp too, as nearly 80% of people globally message with a business at least once a week.
Whether you’re just starting out or looking to optimise your business operations, here are five essential WhatsApp Business features that can elevate your efficiency and customer interactions.
1. Catalog – Showcase Your Products and Services
Gone are the days of sending multiple images and descriptions individually to customers. With the Catalog feature, you can create a digital storefront where customers can browse your offerings within WhatsApp. This is just like a mini-website which makes it easier to showcase your products, prices and descriptions in an organised way.
How to Use It: Go to Business Tools > Catalog. Add product images, videos, names, descriptions and pricing.
2. Quick Replies – Save Time on Repetitive Questions
Answering the same customer questions repeatedly? Quick Replies let you create preset responses for frequently asked questions, saving you time and ensuring fast customer service.
How to Use It:Go to Settings > Business Tools > Quick Replies. Create and save responses such as a greeting message or order confirmation. Use the shortcut “/” to insert a quick reply in any chat
3. Labels – Stay Organised and Track Conversations
Managing multiple customer interactions can be overwhelming, but the Labels feature helps by categorising chats in different ways, such as order status or customer type. You can create labels with different colors or names and add the conversations to an entire chat. This keeps your inbox organised and ensures no customer is left waiting.
How to Use It: Open a chat, tap on the three-dot menu > Label Chat. Assign relevant labels like New Customer, Order Placed, Pending Payment.
4. Away Messages – Engage Customers Even When You’re Away
Never miss a customer inquiry again. Away Messages allow you to set up a greeting or away message, ensuring customers receive timely responses even outside business hours.
How to Use It: Go to Business Tools > Away Message / Greeting Message. Set up a custom message and schedule when it should be sent.
5. Meta Verified – For Enhanced Protection and Account Support
A paid subscription that helps your business build credibility with new audiences, Meta Verified can help drive more engagement and grow your brand. With Meta Verified, you’ll receive enhanced account support, can use WhatsApp across multiple devices and easily create a professional WhatsApp web page that’s tailored to you.
How to Use It: Go to Settings or Business Tools > tap Meta Verified.
WhatsApp Business is packed with features designed to help small businesses grow, stay organised, and engage with customers effortlessly. By leveraging these features, you can enhance your customer experience, increase efficiency and ultimately drive more sales. Start your own journey with the WhatsApp Business app here.
Bolt, the leading ride-hailing platform, on Thursday, 19th of March hosted an Iftar gathering in Kano to bring together Muslim drivers during the holy month of Ramadan.
The event was not only an opportunity to share a meal but also served as a platform for open dialogue, feedback exchange, and community building within the Bolt driver network.
The Iftar event, held in recognition of the significance of Ramadan, reinforced Bolt’s commitment to supporting its driver-partners and fostering inclusivity across all communities. The gathering provided an environment for drivers to voice their concerns, share their experiences, and engage directly with the Bolt team in a collaborative discussion about improving their experience on the platform.
Speaking during the event, Osi Oguah, the general manager for Bolt Nigeria said: “At Bolt, we recognize the importance of creating a supportive and inclusive environment for our driver-partners.
This Iftar event was more than just a meal, it was a chance to connect, listen, and understand the challenges and needs of our drivers in Kano. We appreciate their dedication, especially during this sacred period of Ramadan.”
Drivers in attendance expressed their appreciation for the initiative, highlighting the sense of belonging and recognition the event fostered. Many also welcomed the opportunity to discuss ways to improve their overall experience on the Bolt platform, making it a productive and meaningful engagement for all participants.
Nura Muhammed, a driver-partner said: “We want to say thank you to Bolt for this initiative, if my knowledge serves me right, this is the first time a ride-hailing company will organize such an event in Kano. This event has also made it possible for us to share some feedback to them physically and we drivers mostly get to connect through our online platform but today, we’re able to meet physically, mingle and exchange pleasantries”
Bolt remains committed to strengthening driver engagement and well-being, and this Iftar gathering is part of a broader effort to continuously support and empower driver-partners across Nigeria.
Finance
Flutterwave Powers Local Businesses in Ghana Through Pay With Bank Transfer
Reporter: Ikenna Ugwu
Flutterwave, a leading payments technology company in Africa, has broadened its reach in Ghana through the integration of Pay With Bank Transfer, done in partnership with Affinity Bank.
With over 115 million bank transfer payments recorded in Ghana in 2023, this move will ensure that Flutterwave businesses in Ghana can now receive payments seamlessly and securely through a rapidly growing payment method. While Mobile Money leads as the preferred payment type for everyday transactions in Ghana, the recent growth in transactions for Pay With Bank Transfer symbolizes the expanding payment options available for Ghanaian businesses.
Flutterwave has a track record of driving innovation in the African finance ecosystem, and this new development promises versatility, thereby expanding the pool of customers available to businesses. As a preferred payment method, it also promises faster payments while providing access to a more secure process of transacting which benefits both the sender and the receiver (business).
“We are excited to extend our services to the Ghanaian market” says Olugbenga Agboola, Flutterwave Founder & CEO“At Flutterwave, we are driven by the vision of building Africa’s economy. By making payment options like Pay With Bank Transfer available for everyday use, we are expanding access to payments and enabling local businesses to thrive in the economy”
By establishing this strategic partnership, Flutterwave aims to drive the adoption of the Pay With Bank Transfer option in Ghana, using virtual accounts to allow for secure and transparent payments. This will provide enterprises and small businesses with a simpler way to receive payments and give their customers a seamless process of making payments.
Geoffrey Fiador, Manager, Country Operations and Partnerships, at Flutterwave stated: “By delivering essential payment options like Pay With Bank Transfer for businesses in Ghana, we’re providing an easy way for them to increase their revenue opportunities to grow their businesses. ”
This announcement comes at the heels of Flutterwave’s recent approval by the Bank of Ghana to provide inward remittance services. With a track record of success across Africa, Flutterwave continues to be a trusted partner for businesses in over 34 countries, providing the tools and expertise necessary for success in the dynamic African market.
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