Business
SME Scale Up Partners First Bank to Drive Success for Businesses
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SME Scale Up Partners – Lagos, Nigeria – November…
Lagos, Nigeria – November 27, 2024
SME Scale Up has concluded another session of its bi-monthly event on November 15, 2024. Held at the Radisson Blu Anchorage Hotel in Lagos, with both physical and virtual participation options, the event featured a strategic collaboration with First Bank to reaffirm its dedication to helping small and medium-sized enterprises (SMEs) overcome growth challenges and scale effectively.
Themed “A Journey To Self Discovery,” the one-day workshop adopted an interactive format that leveraged real-life case studies and business simulations to equip CEOs, entrepreneurs, executives, and small business owners with practical tools and actionable insights for success
The session featured distinguished speakers such as Ziad Malouf, Convener of SME Scale Up; Bolatito Akiboye, Head of Wholesale Value Chain Management at First Bank; and Ife Durosinmi-Etti, Founder of Herconomy who all brought their wealth of experience to the workshop.
Through their engaging sessions, these thought leaders provided actionable advice, delivered personalized assessments, and offered strategies to help SMEs navigate business challenges.
Speaking on this year’s edition, Ziad, the Convener of SME Scale-Up, commended the outcome:
This year’s SME Scale Up is exceeding expectations, delivering on its promise to inspire entrepreneurs, business owners, and CEOs, providing them with the tools to overcome growth barriers. I’m confident that the strategic blend of the practical sessions coupled with case studies will leave the attendees equipped with actionable steps to take their businesses to the next level.
Bolatito Akiboye, Head of Wholesale Value Chain Management, First Bank expressed her excitement at being a part of the SME Scale-Up’s third edition.
It was an absolute privilege to be part of SME Scale-Up and contribute to the growth and development of small businesses in Nigeria. Having First Bank partner with SME Scale Up aligns perfectly with our mission to provide innovative solutions and support for entrepreneurs to thrive. I’m also excited to have shared insights and strategies that will help business leaders achieve sustainable growth.
Similarly, Ife Durosinmi-Etti, Founder of Herconomy, praised the consistency of the annual workshop in delivering on its commitment to empowering SMEs:
SME Scale-Up continues to set the standard for empowering small and medium businesses every year. It is inspiring to see how this platform keeps evolving and creating lasting value for SMEs across Nigeria. I am proud to be part of this impactful journey and look forward to witnessing even greater successes in the years to come.
The event ended with photos and networking sessions as participants at the event also attested to the success of the workshop which gave them key pointers on how to chart their business on the right course.
About SME SCALE UP
The SME Scale-Up platform is designed for CEOs and founders of Small and Medium Enterprises (SMEs) in Nigeria, offering resources to help them grow and expand their businesses. SME Scale-Up empowers businesses to overcome growth challenges and achieve lasting success through practical knowledge sharing, capacity building, and networking.
For more information about SME Scale-Up, visit www.smescaleup.org or reach out on social media at @smescaleup.
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Business
Access Bank restores transactions after customers experience service disruptions
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Access Bank Plc has fully restored services on its electronic banking platforms following a disruption that left many customers frustrated
read more Access Bank restores transactions after customers experience service disruptions
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Business
Africa Rising: How iGaming is Transforming the Continent’s Digital Economy
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Africa is no longer just the cradle of civilization—it’s becoming the cradle of innovation in the iGaming industry. With a young, tech-savvy population and skyrocketing mobile internet penetration, the continent is emerging as one of the fastest-growing markets for online gambling.
From Nigeria’s bustling betting hubs to South Africa’s regulated casinos, Africa’s iGaming sector is rewriting the rules of digital entertainment.
In this article, we’ll explore how iGaming is reshaping Africa’s economy, the key players driving this growth, and what the future holds for this dynamic industry.
Why Africa is the Next iGaming Powerhouse
Africa’s iGaming boom is fueled by a unique combination of factors:
Youthful Population: Over 60% of Africans are under 25, and this demographic is highly engaged with mobile technology.
Mobile Revolution: With 650 million mobile users, Africa has leapfrogged traditional banking systems, embracing mobile money platforms like M-Pesa.
Cultural Affinity for Gambling: Betting is deeply ingrained in African culture, from local lotteries to sports wagering.
Regulatory Evolution: Countries like Nigeria, Kenya, and South Africa are creating frameworks to regulate and tax online gambling.
Key Markets Leading the Charge
1. Nigeria: The Giant of African iGamingNigeria, Africa’s most populous nation, is also its largest iGaming market. Key drivers include:
Sports Betting Craze: Football (soccer) is a national obsession, with platforms like Bet9ja and Nairabet dominating the scene.
Mobile Money Adoption: Services like Paga and Opay make deposits seamless, even for the unbanked.
Cryptocurrency Integration: Platforms offering usdt sportsbook options are gaining traction, allowing users to bet with USDT for faster transactions and lower fees.
Fun Fact: Nigeria accounts for over 60% of Africa’s online sports betting revenue.
2. Kenya: The Mobile Money Pioneer
Kenya’s iGaming growth is powered by M-Pesa, the mobile payment system used by 80% of adults. Highlights:
Affordable Betting: Micro-bets as low as $0.10 attract casual players.
Regulated Market: The Betting Control and Licensing Board ensures fair play.
Esports Boom: Games like FIFA and Call of Duty are becoming popular betting options.
3. South Africa: The Regulated Leader
South Africa boasts the continent’s most mature iGaming market, thanks to:
Clear Regulations: The National Gambling Board oversees online and land-based casinos.
Diverse Offerings: From sports betting to online slots, South Africans have access to world-class platforms.
High Internet Penetration: Over 70% of the population has internet access.
Emerging Trends in African iGaming
1. Cryptocurrency Adoption
Crypto is solving two major challenges in African iGaming:
Cross-Border Payments: Players can deposit and withdraw without currency conversion hassles.
Financial Inclusion: Crypto wallets allow unbanked users to participate in online gambling.
Platforms like Sportbet.one, which offer usdt sportsbook options, are leading this shift by enabling seamless USDT transactions. The ability to bet using a stablecoin eliminates volatility concerns while providing instant transactions.
2. Localized Content
African players want games that reflect their culture:
Football-Themed Slots: Games featuring local teams and leagues.
Local Language Support: Platforms offering Swahili, Yoruba, and Zulu interfaces.
African Celebrities: Endorsements from stars like Burna Boy and Tiwa Savage.
As iGaming operators cater to local preferences, the industry is experiencing increased player engagement and retention.
3. Mobile-First Platforms
With 95% of African internet users accessing the web via mobile, iGaming platforms are prioritizing:
Lightweight Apps: Apps that work on low-end smartphones.
USSD Betting: Offline betting via SMS for areas with poor internet.
Data-Saving Features: Compressed graphics and minimal data usage.
This mobile-driven approach has allowed iGaming to reach even the most remote parts of the continent, providing entertainment and economic opportunities.
4. Social Gambling
African players love community-driven experiences:
Betting Pools: Friends can pool funds for larger bets.
Live Streaming: Watch and bet on matches in real time.
Leaderboards: Compete with others for prizes.
This social element is transforming traditional betting into an interactive, engaging experience that fosters loyalty among users.
Challenges Facing African iGaming
Regulatory Fragmentation: Each country has its own rules, complicating cross-border operations.
Payment Barriers: Limited access to international payment systems like Visa and Mastercard.
Problem Gambling: Rising addiction rates, especially among youth.
Infrastructure Gaps: Unreliable electricity and internet in rural areas.
Despite these challenges, the industry continues to evolve, finding innovative solutions to overcome these hurdles.
Opportunities for Growth
Blockchain Integration: Crypto platforms like usdt sportsbook options can bypass traditional banking hurdles.
AI and Big Data: Personalized gaming experiences based on player behavior.
Esports Expansion: Tapping into Africa’s growing gaming community.
Partnerships with Telcos: Collaborating with mobile operators for seamless payments.
As new technologies emerge, operators will have more tools to improve user experience and ensure a safer betting environment.
The Future of African iGaming
By 2030, Africa’s iGaming market is projected to surpass $2 billion, driven by:
5G Rollouts: Faster internet will enable richer gaming experiences.
AI-Powered Platforms: Predictive analytics for personalized offers.
Crypto Dominance: USDT and other stablecoins becoming the default payment method.
Government Collaboration: More countries establishing clearer regulations to foster growth.
With major operators expanding their presence and regulatory environments stabilizing, the African iGaming industry is on the cusp of significant breakthroughs.
Conclusion: Betting on Africa’s Digital Future
Africa’s iGaming industry is more than just a success story—it’s a testament to the continent’s resilience and innovation. From Nigeria’s sports betting frenzy to Kenya’s mobile money revolution, iGaming is creating jobs, driving tech adoption, and reshaping economies.
As platforms like Sportbet introduce USDT sportsbook options, the future looks even brighter. By embracing blockchain, localized content, and mobile-first strategies, African iGaming is poised to become a global leader.
So, whether you’re a player, investor, or simply a tech enthusiast, one thing is clear: Africa is all-in, and the stakes have never been higher.
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Business
NASD OTC Exchange sees value in well-developed solid minerals sector
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NASD OTC Exchange Plc has said that it recognises the importance of a well-developed solid minerals sector in driving economic
read more NASD OTC Exchange sees value in well-developed solid minerals sector
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