Brands/Products
Why SMEs Must Develop Risk Strategies for Payment Security—Kemi Okusanya
By Modupe Gbadeyanka
The need for businesses to develop risk strategies that promote payment security has been emphasised by the Vice President, Cluster Country Head of Visa, Ms Kemi Okusanya.
In this interview, she explained businesses, especially those in the small and medium-scale enterprises (SMEs) sector, are very critical of the economy and must make efforts to remain alive at a time the global health crisis is posing a serious threat to them.
Why have you focused on SMEs?
According to a study commissioned and published by PWC, SMEs contribute 48 per cent of national GDP, account for 96 per cent of businesses and 84 per cent of employment in Nigeria.
This means that SMEs are the backbone of our communities. Their significant value in the community positions them as an essential factor, contributing to the growth of the Nigerian economy.
Unfortunately, SMEs were most affected by the COVID-19 pandemic, as the change in consumer behaviour took a toll on their revenue.
As a result, providing extraordinary support to help small businesses navigate this extraordinary time became expedient for us at Visa. This is why we decided to support SMEs through our Where You Shop Matters initiative
Tell us more about the Where You Shop Matters Initiative?
The Where You Shop Matters initiative enables entrepreneurs by providing them with the tools and information required to start, run, and grow small businesses online while encouraging consumers to support small businesses.
At its core, the initiative is a movement. A call for merchants to tap into the expertise of thought-leaders to shape their future. A call to the consumer to understand the power of spending and the importance of supporting the local economies. It is also a call to the industry and the ecosystem to do what we can to support these businesses. This is about everyone coming together to support small business owners around the country.
What are the key focus areas for Visa to drive SME growth in Nigeria?
We are focusing on promoting digital commerce and economic growth, with plans to continue to create products and services as the needs of entrepreneurs change over time. We are committed to empowering digital-first businesses.
To see to the realization of this, we have built localized online resource centres, providing tools, partnership offers, and information on how to start, run and grow small digital-first businesses.
Also, we are encouraging digital payments as well as advocating neighbourhood support for local businesses. We want customers to be conscious of the importance of shopping locally.
More online transactions mean more fraud cases. How is Visa ensuring consumers’ security?
We take security very seriously and we continue to provide and improve on solutions necessary to protect both our merchants and consumers. For nearly 20 years, we have been helping online merchants and issuers identify potentially fraudulent transactions.
As e-commerce in Nigeria is growing rapidly, consumers expect always-on connectivity with mobile devices and rely on retailers to provide payment experience, both secure and frictionless.
As a result, we recently introduced Visa Secure (previously known as Verified by Visa), an updated program to help make online payments more secure.
This solution provides rules and policies that merchants and issuing banks have to follow to authenticate e-commerce transactions and verify cardholders’ identity before a transaction can be authorized.
Consumers can benefit from a smoother and consistent user experience across multiple payment channels, including mobile web, in-app and digital wallet payments, without any compromise in security.
What are your key learnings from the impacts of the pandemic and how would you advise SMEs to position for economic recovery?
As a result of the COVID-19 pandemic, we have witnessed an unprecedented acceleration of digital adoption throughout our industry and the broader society at large.
While the near-term response has focused on maintaining business continuity, we think businesses should develop risk strategies that promote payment security and strengthen the trust foundation necessary for long-term recovery and growth.
As more consumers have tilted towards the online method of shopping, we believe that there’s a need for SMEs to embrace digital commerce. We have quality resources available for free on our website – visa.com.ng.
By Modupe Gbadeyanka
A new Public Relations (PR) agency, FreshSight Communications, has promised to offer tailored services to its clients, as it joins the highly competitive industry.
According to the co-founder of the company, Mr Justice Mmadubugwu, FreshSight Communications will provide top-notch PR services tailored to meet the unique needs of businesses, organisations, and individuals seeking to amplify their brand presence and reputation.
He also expressed confidence in working with media partners to share compelling stories, promote innovative ideas, and spark important discussions that affect society.
“We are excited to introduce FreshSight Communications to the Nigerian market.
“Our goal is to become the leading PR agency for businesses seeking to establish strong relationships with their target audiences and stakeholders,” Mr Mmadubugwu stated.
FreshSight Communications said its services include media relations and crisis communications; brand management and reputation enhancement; digital PR and social media management; event management and planning; content creation and copywriting; and artist/influencers management.
By Philip Odiakose
Welcome to my first LinkedIn Newsletter in 2025, where I share insights as a public relations measurement professional with more than a decade of experience shaping conversations in Nigeria and globally.
As we step into 2025, the world of PR monitoring and measurement is undergoing a significant transformation. This year, we anticipate trends that will reshape how brands, PR agencies, and independent measurement consultancies collaborate, ensuring transparency, unbiased analyses, and actionable insights.
In this newsletter, I will provide a dual perspective: the Nigerian PR monitoring landscape and the global outlook for 2025.
Local PR Monitoring and Measurement Outlook: Nigeria in 2025
- Increased Demand for Transparency: Nigerian brands are recognizing the importance of transparency in PR outcomes. There will be heightened demand for agencies to provide detailed, unbiased performance audits.
- Adoption of Independent Measurement Consultancies: The era of self-evaluation by PR agencies is waning. In 2025, more Nigerian brands will partner with independent consultancies like P+ Measurement Services to ensure objective insights that foster accountability.
- Integration of Technology with Local Expertise: As AI tools and platforms gain traction, Nigerian PR professionals must strike a balance between technology-driven insights and localized expertise to cater to the unique dynamics of our market.
- Shift from ROI to ROO (Return on Objectives): In 2025, Nigerian PR practitioners will move beyond traditional ROI (Return on Investment) metrics that focus solely on financial outcomes. Instead, there will be a focus on ROO (Return on Objectives), emphasizing how PR efforts meet broader organizational goals such as brand awareness, reputation enhancement, stakeholder engagement, and social impact. This shift aligns with the evolving Nigerian economic landscape, where businesses prioritize long-term value creation and sustainability over short-term financial gains.
- Education as a Driver for Adoption: The need for education on measurement standards will grow. Initiatives like AMEC’s Measurement Month and local workshops like EvaluatePR event by P+ Measurement Services, Spin Sucks led by Gini Dietrich, and Measurement Base Camp by Paine Publishing led by Katie Delahaye Paine will play a pivotal role in driving adoption and bridging the knowledge gap among PR professionals.
Global PR Monitoring and Measurement Outlook: 2025
- Increased Collaboration Between PR Agencies and Measurement Experts: Globally, we will see stronger partnerships between PR professionals and measurement consultants to deliver credible, data-backed reports that influence boardroom decisions.
- Standardization Through Education: AMEC Measurement and Evaluation (International Association for the Measurement and Evaluation of Communication) and its members will continue leading the charge in educating PR professionals on best practices, ensuring global alignment on measurement standards like the Barcelona Principles, Measurement Maturity Mapper and Measurement Framework.
- Rising Demand for Unbiased Audits: Brands across the globe will increasingly seek independent PR measurement audits, avoiding conflicts of interest and ensuring that insights are impartial and actionable.
- Adoption of Technology and Real-Time Analytics: The rise of real-time monitoring and advanced analytics tools will enable PR professionals to adjust strategies dynamically, making campaigns more impactful.
- Focus on ESG and Social Impact Metrics: Environmental, Social, and Governance (ESG) metrics will take center stage in global PR measurement. Organizations will prioritize measuring how their communications align with sustainability and societal goals.
The Way Forward
2025 marks a year of audacious transformation in PR monitoring and measurement, both in Nigeria and globally. At P+ Measurement Services, we are committed to driving this change by partnering with brands, agencies, and global stakeholders to deliver transparent, unbiased, and impactful insights.
The success of PR measurement lies in the collaboration between PR professionals and measurement experts, coupled with continuous education and adherence to global standards. As a founding member of AMEC Member Lab Initiative, I am optimistic about the role we will play in shaping the future of this industry.
Let us redefine PR measurement together, one campaign at a time.
Philip Odiakose is a leader and advocate of PR monitoring, measurement, and evaluation in Nigeria. He is also the Chief Media Analyst at P+ Measurement Services, a member of AMEC Lab Initiative, NIPR and AMCRON
By Dipo Olowookere
The world’s largest mobile virtual network operator (MVNO), Lyca Group, has taken a bold move to reorganise its certain business units and operations.
A statement from the firm explained that the action is to position it for sustainable growth in a competitive and challenging global market through digital capabilities.
This will result in faster delivery of innovative products and services, reduce overlaps, automate processes, and achieve substantial cost savings, which will be reinvested in market expansion and customer-focused initiatives.
It was stated that the proposed transformation forms part of Lyca’s long-term strategy to expand its global business services and support operations into its established service centres as well as new service hubs to be located in territories that have strategic importance while transforming country-specific operations into leaner, sales-focused organisations.
The company continues to focus on the growth of its mobile virtual network operations base and investing in new Mobile Network Operator (MNO) opportunities and markets in Africa, where it currently operates the Lyca MNO in Uganda—and elsewhere.
The organisation plans to announce expansion to new countries as soon as Q1 2025, including the launch of new digital brands in Spain and the USA.
Lyca expressed confidence that this transformation would deliver significant operational efficiencies, boost speed to market, improve customer experience, and ensure it continues to provide exceptional value to its customers worldwide.
“Lyca’s strategic reorganisation is a bold step forward, ensuring we remain a leader in delivering affordable, high-quality telecom solutions to our customers globally.
“This paradigm change not only enhances our efficiency but also strengthens our ability to adapt to a rapidly changing industry, ultimately benefiting our customers, partners, and employees globally,” the Deputy Chairman of Lyca Group, Premananthan Sivasamy, stated.
Lyca says it remains committed to supporting its employees during this transformation, noting that a smaller and more specialised team will remain in London to manage certain limited advisory, compliance, and financial functions that require a UK presence.
It disclosed that other roles will be handled either from our existing service centres or at hubs to be established in order to leverage cost efficiencies and expertise, enabling the business to reinvest resources in innovation and strengthen our business.
Already, it is engaging in a thorough consultation process with employees and will work closely with partners to ensure a smooth transition with minimal disruption to the high standards of service and collaboration they have come to expect from Lyca.
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