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GAIN and Afreximbank Empowers Young African Entrepreneurs

The program GAIN-AFREXIMBANK Masterclass on Entrepreneurship and Intra-Africa Trade is an empowerment program.

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GAIN and Afreximbank Empowers Young African Entrepreneurs

Grand Africa Initiative(GAIN) in collaboration with Africa Export-Import Bank (AFREXIMBANK) trained young African Entrepreneurs from across Africa.

The program GAIN-AFREXIMBANK Masterclass on Entrepreneurship and Intra-Africa Trade is an empowerment program.

This is part of the Africa Export-Import Bank’s effort to increase participation of African young entrepreneurs in cross border trade and expand trading activity under the African Continental Free Trade Agreement (AfCFTA) which is pivotal to the continent’s economic transformation.

Grand Africa Initiative (GAIN ) is a Pan-African Non-governmental organization helping African young men and women, between 15 and 35 years, develop and harness their unique ideas, talents and abilities for success in education, entrepreneurship, innovation and employment. Training, empowering and providing technical support to African young men and women by equipping them with digital, leadership, employability, and entrepreneurial skills for self-sustenance.

The program was designed to equip young African entrepreneurs who were selected from across Africa with skills to build and scale their businesses across borders; learn key insights that will help them identify opportunities in various African Markets, expand their businesses, manage trade finance, form partnerships, grow their income, leverage the opportunities of the AfCFTA, attract foreign direct investment and create employment for more youths.

The program received applications from one thousand, three hundred and seventy-six (1,376) young African entrepreneurs from twenty-nine(29) African countries  across the five(5) regions in Africa out of which two hundred (200) were selected. The participants were selected based on the set criteria .

The program kicked off on the August 8th, 2022  with a virtual opening ceremony which had the Executive Director Grand Africa Initiative-GAIN, Ms. Chinwe Okoli; the Senior Manager, AU/AFCFTA Relations and Trade Policy, African Export-Import Bank Mr Babajide Sodipo and the Keynote Speaker His Excellency Thami Mseleku, the High Commissioner of South Africa to Nigeria, selected participants and members of the public in attendance.  It was a 3 month program that had intensive live masterclass facilitated by global experts and leaders in various aspects of business who brought to class experience and mastery. The participants learned from facilitators  from Africa, America, and Europe who covered fifteen(15) broad topics,which was followed by mentorship and business advisory sessions with experienced mentors and experts in various business sectors.

Expected outcomes of the program include: Increase in the number of properly structured businesses, rise in international business partnership deals between young entrepreneurs to promote Intra-Africa trade, emergence of new breed of global entrepreneurs in Africa, creation of more job opportunities for Africa youths. Beneficiaries of the program have been  equipped with skills and knowledge needed to  beyond build globally competitive businesses, record higher trade volumes, position, and expand their businesses to take advantage of the AfCFTA and contribute to economic development of Africa.

The immediate impact of the program can be seen from the participant’s testimonials about the program:

“This program is top notch. It went beyond my imagination. I applied SWOT techniques to strategise my business which really helped out these 3 months”.  Amina Onawo Mohammed, CEO Unique shis Green Products Ltd, Nigeria

“Before I joined this program, my ideas were not structured and I was blind to the possibilities out there and how I could benefit from ACFTA. This program has introduced the idea of networking and the importance of having a clearly defined strategy and branding”. Robert Chikuse, CEO Rowdach Enterprise, Malawi

“The program is an important step towards opening up African opportunities.  Expanding the youths engagement in the International Trade and exports market”. Kevin Maino, CEO Regime CONSULTIUM ENTERPRISE, Kenya

“I want to deeply say thank you to Grand Africa Initiative-GAIN and AFREXIMBANK  for this and life transforming Masterclass, I have learnt a lot from both the sessions as an Entrepreneur and I have been equipped with the relevant knowledge and information to excel in my business world. The class and mentorship sessions by GAIN professional mentors and other industry experts is highly commendable. The communication of the GAIN teams is also top-notch, And I recommend this Entrepreneurship Masterclass to other people. All thanks to Ms. Chinwe Okoli, God bless GAIN and team, God bless AFREXIMBANK”. Godswill Nnabugwu Alegu, CEO GOLDEN PRIMEGA ENTERPRISES NIG. SERVICES, Nigeria

“To be part of this program was needed in a time like this. I need to be challenged and see that my business is not about my small country. It opened my eyes to more African countries,more opportunities.It showed me mentors and business I can learn from”.  Gaëlla Abizera Gahama, CEO Gaaga Hair and Makeup, Burundi

“The GAIN-Afreximbank Masterclass is what every African entrepreneur needs”.  Augustine Sensie Bangura, CEO Sierra Agri foods, Sierra Leone

“This program is mind blowing and it has widened my knowledge on marketing and the facilitators were professionals”. Musisi Clement Isaiah, CEO Moruta Investment Co. Ltd, South Sudan

“I gleaned and absorbed so much from the program. I am ready to elevate my business and best prepared for trading in Africa ”. Sandiswa Mgolozeli, CEO Epitomely Interior Doctors, South Africa

“It has really been value packed as it expanded my boundary of thoughts to seeing possibilities”. Markus Matthew, CEO Macfeshi Technologies, Nigeria

“This training is extremely relevant for the African SME, it shifts one’s mindset from business for daily survival to lasting legacy”. Mkhudzo Hamoonga, CEO Nobility Accounting & Advisory, Zambia

“GAIN-AfreximBank, thank you for the opportunity to network and learn. The lessons were quite amazing. GAIN went all out to find key industry leaders and speakers who shared so much needed information, which is very impactful in my business operation. This has indeed been an amazing experience. I am confident that through the tools shared, my business will grow”. Mosebetsi Rapitso, CEO Iconics Pty Ltd, Lesotho

“I can say I have gained more than what I have expected from this training. Overall the training was so good that I have decided to suggest others to participate in similar future training organized by GAIN-AFREXIMBANK”. Tihtina  Belamo, CEO TABOR CERAMIC, Ethiopia

“I have learned beyond what I expected. I have taken several master classes and GAIN-AFREXIMBANK master class is the best so far”. Ngwain Sih Elisabet, CEO Phoenix revival association, Cameroon

“During the course of this training, I have been able to generate more streams of income by expanding my business. This training surpassed my expectations”.  Letsogile Serojane, CEO Magmr Holdings, Botswana

“Before I joined I had no mode of my business, I was just doing business just to keep myself busy and know that I’m doing business but after my masterclass it’s when I’m really a business woman. Now I see my sales getting into the numbers that I never expected, African Entrepreneurs need a masterclass such as this”. Jacqueline Kawishe, CEO BARRON GROUP OF COMPANIES, Tanzania

The role of youth entrepreneurs cannot be overemphasized in unlocking the economic potentials of Africa and building a  strong economy in Africa and the world at large, hence, GAIN is focused on promoting youth development for empowerment by continually designing programs aimed on building the capacity and igniting the positive energy of the greater segment of Africa’s population – the youth.

GrassRoots.ng is on a critical mission; to objectively and honestly represent the voice of ‘grassrooters’ in International, Federal, State and Local Government fora; heralding the achievements of political and other leaders and investors alike, without discrimination. This daily, digital news publication platform serves as the leading source of up-to-date information on how people and events reflect on the global community. The pragmatic articles reflect on the life of the community people, covering news/current affairs, business, technology, culture and fashion, entertainment, sports, State, National and International issues that directly impact the locals.

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inq.Digital Supports Payments Forum Nigeria [PAFON 1.0]

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PAFOn 1.0
PAFON SPEAKERS

Inq. Digital Nigeria Limited has been announced as a sponsor of Payments Forum Nigeria [PAFON 1.0] maiden edition holding this Thursday in Lagos.

inq. Digital Nigeria Limited, a subsidiary of inq. Group is an emerging leading digital and cloud solutions provider that delivers simpler seamless solutions to complex business challenges.

With offices in Lagos, Abuja, Port Harcourt and Kano, inq. provides reliable and affordable Intelligent Connectivity, SDN/NFV, Cloud and Digital services (including Edge –AI) for Nigerian businesses including those in the payment space.

Participation is FREE, however, pre-registration is required: https://bit.ly/4c4N19H.

Speaking ahead of Payments Forum Nigeria [PAFON 1,0] scheduled to take place at Oriental Hotel, Lekki Road, Lagos on Thursday, March 21, 2024 by 9am under the theme: “Payments: Trust, Security and Privacy in AI Era”, Mr. Chike Onwuegbuchi, the co-founder of TechCastle Foundation, the organisers, said the goal is to enable information exchange and knowledge sharing on key industry insights issues amongst key stakeholders, with the objective of ensuring a collaborative and proactive approach to push for policies that enable growth, tackling/mitigating fraud and limiting occurrences and losses.

Speakers

The following speakers are lined up for the Forum: Chibuzo Efobi, Director, Payments System Management, Central Bank of Nigeria (CBN); Festus Amede, Chairman, Committee of Chief Information Security Officers of Nigerian Financial institutions (CCISONFI; Dr. Adewale Peter Obadare, Chief Visionary Officer (CVO), Digital Encode Limited; Adetokunbo Omotosho, Chief Executive Officer, Cybervergent; Roosevelt Elias, Founder, Payble; Ikenna Ndugbu, chief compliance officer, Moniepoint MFB, and Peter Evbota, Sales Director at inq. Digital Nigeria Limited.

Payments Forum Nigeria is organised by TechCastle Foundation and sponsored by: inq. Digital Nigeria Limited, Cybervergent, Moniepoint, Digital Encode Limited, Payble with support from the Central Bank of Nigeria (CBN).

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Business

Meet Kingsley Adonu

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In the dynamic world of entrepreneurship, there are visionaries who not only navigate the business landscape but redefine it. Meet Kingsley Adonu, the Founder and Chief Executive Officer of the SMobile Group, a conglomerate that stands as a beacon of excellence and diversity in the global business arena.

Kingsley Adonu is a visionary entrepreneur and the Founder of the SMobile Group, a conglomerate synonymous with excellence and diversity. As the Chief Executive Officer, he has steered the group to remarkable heights, overseeing a spectrum of businesses that span across Telecommunications, Oil and Gas, Real Estate, Hospitality, Water Production, Agriculture, Technology, E-commerce, Energy, Sports, Entertainment, Education, Health, Logistics and Financial Services, with branches extending globally to UK, USA, China, South Africa, and Canada.

Under Kingsley’s astute leadership, SMobile Group has emerged as a major partner for MTN, evident in the impactful presence of the SMobile brand in the telecommunications landscape. His strategic insights and forward-thinking approach have positioned the group as a dynamic player in multiple industries.

Beyond the boardroom, Kingsley Adonu is a dedicated philanthropist, committed to making a positive impact in communities. His philanthropic efforts extend beyond business, reflecting a deep-seated belief in the responsibility of successful individuals to contribute meaningfully to society.

Kingsley’s influence is not confined to national borders; he has actively participated in numerous international telecom conferences, further enriching his understanding of global industry trends and fostering valuable connections with industry leaders worldwide.

With an unwavering commitment to excellence, Kingsley Adonu continues to inspire and lead the SMobile Group towards new horizons, blending business acumen with a passion for positive societal change.

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Only 26% of Surveyed Organizations Stopped Data Encryption by Cybercriminals – Sophos

Retail organizations attacked by ransomware increasingly unable to halt an attack in progress, Sophos Survey Finds, writes SANDRA ANI

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Sophos The State of Ransomware in Retail 2023
  • This Is the Lowest Rate of Disruption in 3 Years  

Sophos, a global leader in innovating and delivering cybersecurity as a service, today shared findings from its sector survey report, “The State of Ransomware in Retail 2023,” which found that only 26% of retail organizations this past year were able to disrupt a ransomware attack before their data was encrypted.

Sophos, a global leader in innovating and delivering cybersecurity as a service, today shared findings from its sector survey report, “The State of Ransomware in Retail 2023,” which found that only 26% of retail organizations this past year were able to disrupt a ransomware attack before their data was encrypted.

This is a three-year low for the sector—a decline from 34% in 2021 and 28% in 2022—suggesting the sector is increasingly unable to halt ransomware attacks already in progress.

“Retailers are losing ground in the battle against ransomware. Ransomware criminals have been encrypting increasingly greater percentages of their retail victims in the last three years, as evidenced by the steadily declining rate of retailers stopping cybercriminal attacks in progress. Retailers must up their defensive game by setting up security that detects and responds to intrusions earlier in the attack chain,” said Chester Wisniewski, director, global field CTO, Sophos.

In addition, the report found that, for those retail organizations that paid the ransom, their median recovery costs (not including the ransom payment) were four times the recovery costs of those that used backups to recover their data ($3,000,000 versus $750,000).

“Forty-three percent of retail victims paid the ransom according to our survey respondents, yet the median recovery cost to victims who paid the ransom was four times the cost to those who used backups and other recovery methods. There are no shortcuts in these situations and rebuilding systems is almost always required. It’s better to deprive the criminals of their spoils and build back better,” said Wisniewski.

Additional key findings from the report include:

  • In line with a broader, cross-sector trend, the retail sector experienced its highest rate of encryption over the past three years, with 71% of those organizations targeted by ransomware stating that attackers successfully encrypted their data
  • The percentage of retail organizations attacked by ransomware declined from 77% last year to 69% this year
  • The percentage of retail organizations that recovered in less than a day decreased from 15% to 9% this year, while the percentage of retail organizations that took more than a month to recover increased from 17% to 21%

Sophos recommends the following best practices to help defend against ransomware and other cyberattacks:

  • Strengthen defensive shields with:
    • Security tools that defend against the most common attack vectors, including endpoint protection with strong anti-ransomware and anti-exploit capabilities
    • Adaptive technologies that respond automatically to attacks, disrupting adversaries and buying defenders time to respond
  • Optimize attack preparation, including regularly backing up, practicing recovering data from backups and maintaining an up-to-date incident response plan
  • Maintain security hygiene, including timely patching and regularly reviewing security tool configurations

To learn more about the State of Ransomware in Retail 2023, download the full report from Sophos.com.

The State of Ransomware 2023 survey polled 3,000 IT/cybersecurity leaders in organizations with between 100 and 5,000 employees, including 355 from the retail sector, across 14 countries in the Americas, EMEA and Asia Pacific.

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