In today’s world, understanding and mastering entrepreneurial digital business architecture has become the ultimate mission for economic survival.
All entrepreneurs face enormous challenges imposed and opportunities presented by the digital transformation phenomena. The conclusion is that there is no escape route unless the surviving entrepreneurs strive to master the challenges and convert them into business opportunities. It further means that all business processes must be digitally transformed to succeed or otherwise, perish.
Therefore, the focal point of this narrative is that Nigerian entrepreneurs can accomplish extraordinary things to unleash bottled-up creativity and business innovation; if digitally empowered with enabling fiscal policies for global competitiveness. The time has come to reset Africa’s entrepreneurship mission.
The guiding principles cover many distinct sectors. We must leverage on those sectors that are well researched and evidence based. They include the following arrays of intelligent technologies: Digital Research; Quantum computing; Blockchain knowhow; Data Protection Security Culture; Hybrid Workplace and Spaces; Artificial or Adaptive Intelligence (AI); Technology Automation Process; Firth Generation Network (AI) and Digital Financials. The above represents 360 degrees of digital transformation requirements to scale into the century-class business circle.
Meanwhile, the 360-degree digital requirements will often fail without trust; which represents the core success factor in business and entrepreneurship accomplishments.
“Your core issue is never a leadership issue, a financial issue, a sales issue, a cultural issue or even an engagement issue,” said David. “At the core, it’s always a trust issue. Everything of value is built on trust. A lack of trust is the biggest expense you have. We have got to look at it differently.” – David Horsager. The research work of David, CEO of the Trust Edge Leadership Institute and Author of the national best-seller ‘The Trust Edge’ which focused on the landscape and impact of trust across business divisions around the world presented astonishing revelations on the role of trust as fundamental in sustainable business ecosystem.
For example, 83% of Americans do not refer the products or services of organizations they do not trust. Also, 95 million Americans say their organization does not place a high priority on proactively developing trusted leaders. Further, 83% of people say they would not follow a leader they don’t trust. More than 92% of people would trust their senior leader more if they would be more transparent about their mistakes. Additionally, 61% of people surveyed said not communicating the “why” for change is what most hinders leaders from building trust. And that 85% of people believe a high-trust work environment helps them perform at their best.
However, the complex issues embedded in the trust ecosystem is the gross misunderstanding of what constitutes the trust elements. And when it involves business entrepreneurship, the rigorous elements in advancing and sustaining trust to customer and/or co-investors/partners are wrapped in the following ‘8cs commandment’: Character, Clarity, Compassion, Competency, Commitment, Connection, Contribution and Consistency.
Meanwhile, African entrepreneurs stand to benefit from global business collaboration; now that emerging digital solutions out of Africa are supercharging global attraction. Leading the way in deploying collaboration business model is KongaPay.
Recently, the success of selling business-trust as a distinct signature and value-chain commodity to global investors; Dr. Leo Stan Ekeh, Chairman of KongaPay struck and signed an iconic partnership deal with Bibimoney based in UK at the prestigious House of Lords, London. The epoch deal was witnessed by Lord Anthony St. John of Bletso, Chairman of Bibimoney, and many other distinguished guests. Lord Anthony noted that the world has so much confidence in Africa and the Middle East because of infinite possibilities that could emerge with companies like Konga with great credentials.
He further submitted and said: ‘We believe in the pedigree of ownership of such home-grown companies out of Africa and shall do our best to support KongaPay become a globally respected financial services company with the way technology is simplifying transactions borderless financial transactions. We have many reasons to trust Konga.”
The affirmation from international business circle that Africa’s entrepreneurs can be trusted and keep their word in delivering business offerings and claims, amounts to incremental value across the developmental spectrum of the continent.
The Chairman, Konga Group, Leo Stan Ekeh in his response, assured the Bibimoney Group; while emphasizing that “the vision of KongaPay remains very clear and that is to lead in Africa…Our target is to onboard a minimum of 65milion active Nigerians and Africans by the year 2025. As you are aware, we have complimentary benefits to extend to our customers unlike our competitors and that is; leveraging on our many verticalS; Konga Marketplace, Konga Travel, Konga Health, Konga Food, Konga retail stores and many more to come. Most importantly, you can trust us. Thank you for the partnership.”
Isa Aliyushata, Vice President, KongaPay said; ‘‘This strategic alliance is coming at a time that technology is changing the way financial services are performed. In the next few months, users will be thrilled with a unique simple solution that is network agnostic, interoperable and accommodates any type of phone in the world.” Going forward, he emphasized that; ‘‘KongaPay will also be rolling out lots of payment solutions that will facilitate cross-border payments, promote branchless and borderless trading across the world, whilst aiming not to leave a single person behind.
”This, of course, keys in with the Federal Government’s bid to promote the benefits of the African Continental Free Trade Area (AFCFTA). As we grow our customer base which currently stands at 2 million; we would be expanding the range of services we provide in the next few months with lots of product offerings and benefits that are too great to ignore. KongaPay will continue to promote payment with trust.”
It is significant to note that KongaPay is licensed by the Central Bank of Nigeria (CBN); while also insured by the Nigeria Deposit Insurance Corporation (NDIC). Indeed, KongaPay has become the leading provider of digital payment services for e-commerce transactions and other mobile money services in Nigeria and aiming to deliver same superlative financial services across Africa.
Finally, building Nigerian-owned world-class corporations has become a strategic imperative for the attainment of sustainable development goals. Advancing the modalities for the creation and equitable distribution of wealth through digital entrepreneurship will energize our development growth.
Informed by the fact that our national population is growing at an exponential rate; we must reimagine our business, economic and work models to craft a new entrepreneurship vision.
Going forward, we must urgently migrate from the current Okada economy to a dynamic 3-shift technology-centric automated economy. There is therefore an urgent need for the Senate to accelerate action and pass the Nigerian Startup Bill into an enabling law. Above all, government is advised to establish a Presidential Council for Digital Entrepreneurship and eCommerce.
Special funding should be set aside to provide backup digital research on emerging technologies to spur innovation; productivity, accelerated growth and digital security.