GRBusiness
Companies that suffer data breach could lose up to one third of your customers
Astonishing findings from RSA’s recent survey in the UK showed that 28 percent of customers have elected to boycott companies that have been shown to mishandle personal data.
RSA is a global cybersecurity leader with consulting and technology solutions that empower firms by providing a holistic view of cybersecurity needs in order to reduce risk and rapidly respond to incidents.
“South African businesses should be prepared for similar consumer trends in the near future,” believes Anton Jacobsz, managing director at value-added distributor, Networks Unlimited Africa, which delivers the full range of RSA solutions to the local market.
“Consumers are becoming increasingly aware and sensitive about how their service providers use their personal data, and for those organisations that suffer high-profile data breaches, there is a very real possibility that customers will ‘vote with their feet’.”
The RSA survey goes on to reveal that the majority of consumers (57 percent) have no idea how many times their personal data may have been placed at risk, given the flood of headline-grabbing cyber-security breaches over recent months.
GDPR and PoPI
While analysts estimate that only about a tenth of all breaches are reported to the public, this is about to change, as the European Union’s General Data Protection Regulations (GDPR) finally kicked in on 25 May.
“For businesses operating in the EU, or even for local businesses that provide services to EU citizens, the new laws will ensure that any and all data breaches are disclosed within a 72-hour period,” explains Jacobsz.
GDPR is enshrined in European Union law, giving it automatic credence among all member states. It seeks to harmonise data protection regulations throughout the region, placing stringent rules on how organisations gather and use individuals’ personal data, increasing levels of transparency, giving individuals greater control over how their data is used, and ensuring mandatory disclosure of any breaches.
Under GDPR, companies could face fines of up to 20 million euros, or four percent of annual turnover, which shows the gravity of the issue for large businesses in particular. In South Africa, the pending arrival of our own incoming legislation, the Protection of Personal Information Act (POPIA), expresses a very similar intent to GDPR. Many legal experts believe that achieving compliance with GDPR should essentially imply compliance with PoPIA, once it is enacted.
Staying on the right side of the law
So just how can organisations set about ensuring compliance with both PoPI and GDPR?
“As a global company, RSA has completed a considerable effort to ensure that it prepares organisations for GDPR – identifying gaps, improving readiness, evaluating risk, meeting compliance and rapidly respond to incidents,” says Jacobsz.
“To cater for such broad-reaching compliance requirements, organisations must address cyber-security and data protection at an overall enterprise level,” he adds.
“RSA’s approach incorporates both advisory and technology services, addressing the entire lifecycle of solution fulfilment – from strategy and design, to deployment and operations management.”
While organisations must comply with new legislation, they also cannot halt progress on key digital programmes and transformation projects. To ensure that their digitisation journeys can proceed safely, RSA takes a business-focused approach to one’s cyber-security strategy, ensuring it is aligned with the company’s strategic objectives.
Seven practices to ensure comprehensive defences
In a recent white paper, RSA details the seven key practice areas that it has established to provide comprehensive threat mitigation and ensure regulatory compliance:
Risk management… Tailoring global best-practices to the unique elements required for the foundation of a firm’s holistic risk management programme, including various assessments and stakeholder mapping exercises.
Identity assurance… With identity management at the core of all security programmes (and representing the biggest threat vector), it’s critical to design iron-clad identity management policies and technologies.
Advanced cyber-defence practice… Identifying gaps, prioritising risks and designing programmes to improve defences, integrate solutions, provide deep visibility, detect advanced threats and reduce mitigation time.
Incident response practice… By combining early detection and rapid response, organisations can close the gap between an initial breach and an attacker being able to carry out their objectives.
Professional services… The technology deployment expertise to ensure that organisations gain maximum value from their investments in RSA technology sets.
Research… With a heavy emphasis on R&D, the security solutions from RSA continually adapt to the ever-changing threat landscape and keep pace with new legislation (such as GDPR), while training services help customers to enhance overall awareness and optimise their cybersecurity capabilities.
Enterprise-wide security programme management… to pull it all together, teams of cybersecurity experts analyse an organisation’s overall threat posture, continually making recommendations to further strengthen one’s security practice.
“The risks of data breaches – for both local and international companies – are enormous,” summarises Jacobsz, “ruining an organisation’s reputation, destroying customer trust, and exposing them to heavy regulatory penalties.”
Improved efforts at collaboration among financial service providers, telecommunication operators, and tech Startups, with conscious effort geared at consumer awareness, have been proffered as key remedies to the challenge of financial inclusion in the country.
This is the viewpoint of stakeholders that gathered for the second edition of Payment Forum Nigeria (PAFON 2.0) held recently in Lagos.
Delivering a keynote address on the theme, “Bridging the Customer Experience Gap for Financial Inclusion Using AI”, Ebehijie Momoh (Mrs.), the managing director and chief executive officer of AfriGoPay Financial Services Limited, said that with 64% of Nigerian adults being financial included the country has made immense progress in that regards.
She said that between 2012 till date, the country has recorded robust regulatory reforms, especially the launch of the Bank Verification Number (BVN) in 2014 making it easier to identify and track customers across different banks.
“This initiative enhanced the credibility of the financial sector and increased confidence in formal banking systems.
The growth in adoption of smartphones has also helped the financial sector to leapfrog financial inclusion. Nigeria has 142.16 mobile internet subscriptions with an average consumption of ~7.04GB / month as of January 2025. If you juxtapose it to the 15.9% decline in shipments of feature phones to 18.8 million units in Africa as at Q1 2024, you will understand that the uptake in smartphones has helped us a great deal.
Mrs. Momoh who spoke through Mr. Munachi Duru, the head of Innovation and Strategic Partnership at AfriGoPay, said the adoption of artificial intelligence banking gave birth to solutions like smile identity, a leading KYC verification provider launches facial recognition capabilities in Nigeria as neobanks and commercial banks are deploying AI-based KYC verification tools, enabling cheaper and efficient customer acquisition and servicing.
In her goodwill message, Mrs. Uche Uzoebo, MD/CEO, Shared Agent Network Expansion Facilities Limited (SANEF) Limited said that with progress made in accelerating financial inclusion to unbanked and underbanked communities in Nigeria, SANEF has leveraged Artificial Intelligence (AI) as the next step to advancement in financial services in the country.
She noted that as technology evolves rapidly within the financial ecosystem, Financial Inclusion must continue to be at the center of the nation’s progress.
According to her, agent banking has been a game-changer in expanding financial inclusion across Nigeria. “By deploying agents in underserved areas, we have brought financial services and banking products such as account opening, cash in, cash out, bill payment, transfers and other services closer to the unbanked and underserved.”
Speaking during a panel session, Mr. Ibirogba Oluwagunwa, chairman, Lagos State Chapter of the Association of Mobile Money & Bank Agents in Nigeria (AMMBAN), spoke of lack of collaboration and slow institutional drive towards AI as key barriers hindering digital inclusion.
He harped on the need for information sharing among fintech operators, and improved free flow of information to consumers. “The human barrier angle needs to be addressed. Fintechs need to be pushed to move forward, AI cannot operate itself.”
In his contribution, Mr. Chika Nwosu, managing director of PalmPay, reiterated the need to reach the consumers with simple format communication and education style.
He said operators should create awareness and design consumer-centric approach in developing any products. This will not only draw the consumers towards the product, but also generate trust and ease the use of such products.
Focusing on the use of AI to ensure reach, inclusion and security, Azure Application and AI Specialist at Microsoft UK, Olusoji Solomon Adeyemo, spoke on the need for AI and Blockchain in the bid to extend services to rural communities and the unbanked.
According to him, “AI, Blockchain and CBDs are shaping the future of payment, and there is a serious need for education. We need to align with global trends in new tech adoption.”
While noting that AI can ensure reach, Adeyomo said blockchain will also create digital identity that is exclusive and will promote digital financial inclusion.
In her position, Oluwabunmi Ogunyemi, the customer support lead at Moniepoint MFB, proffered physical and digital meet with customers, even in rural areas, as a viable means of inclusivity.
Also speaking, Olusegun Afolabi, the co-founder of Face Technologies UK Ltd., called for improved collaborations among stakeholders in the financial sector.
According to him, the fintech companies must also embrace effective identification solutions, focusing on biometrics and card technologies to ensure topnotch security for users.
Earlier in his opening remarks, Mr. Peter Oluka, co-Convener of the Forum, noted that the financial inclusion journey in the country has come to a crucial juncture where over 30 million adults are still financially excluded, many of whom reside in rural areas or belong to vulnerable demographics.
He noted that despite 12% growth in access to formal financial services between 2020 and 2023, as recorded by the EFInA Access to Financial Services Survey 2023, challenges still exist that hinders the unlocking of the potentials of digital payments to drive inclusive growth in Nigeria.
He further posited: “As digital infrastructure grows and fintech innovation accelerates, we must channel these advancements toward building a more inclusive, secure, and trusted financial ecosystem. This is not just about transactions — it’s about empowerment, opportunity, and economic participation for all.
Nodding in agreement, Mr. Chike Onwuegbuchi, co-Convener, PAFON, reiterated the need for all stakeholders in the financial payment industry, including regulators, to participate in forums as PAFON, to map out, growth strategies with consumers and other strata of the ecosystem.
He promised to invite security stakeholders, such as the EFCC and others in subsequent editions of the event. This will help give insight into security concerns in deployment of products and services in rural and unbanked communities.
Payments Forum Nigeria (PAFON) is a platform dedicated to shaping the future of digital payments and financial services in our country.
Energy
AVEVA is providing data management support for renewable natural gas projects
Reporter: Godwin Ezeh
Key Highlights
● AVEVA’s industrial information infrastructure has been selected by Archaea Energy to provide key data management support
● AVEVA’s industrial software to optimize performance across Archaea’s RNG plants
AVEVA, a global leader in industrial software driving digital transformation and sustainability, has been selected by Archaea Energy, the largest renewable natural gas (RNG) producer in the US, to build a comprehensive operations data management infrastructure.
Using AVEVA’s software, Archaea Energy can collect, enrich and visualize its real-time operations data, enabling performance analysis across its growing network of plants.
Using AVEVA PI Data Infrastructure, a hybrid solution with cloud data services, the plants will be able to share data to highlight operational opportunities and optimize efficiency.
Caspar Herzberg, CEO, AVEVA, stated,
“Through this collaboration and the use of AVEVA PI Data Infrastructure, Archaea’s growing network of plants will have streamlined operations with accurate performance analysis throughout the expansion. AVEVA’s CONNECT software platform leverages industrial intelligence from a central location, making it easier to deploy additional digital solutions in the future.”
“As the largest RNG producer in the United States, we are dedicated to delivering reliable, clean energy,” said Starlee Sykes, chief executive officer of Archaea Energy. “This relationship will allow us to optimize operations and offer detailed performance analysis as we continue to expand across the country.”
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.
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