Feature/OPED
COVID-19 and the Boom in the Digital Economy in Nigeria
By Ezedi Udom
The digital economy pre-corona virus disease (COVID-19) pandemic was embraced largely by glamorous people who were being driven by a lifestyle of sophistry. So, it was more of a status symbol, a show practice than a necessity.
Despite the various promotional campaigns that pointed to the unlimited products, convenience and the cost-saving attributes of the digital economy, it was only seen as some novel and problematic concept that put people at unnecessary risk.
Then came the COVID-19 pandemic and its various restrictions – the social distancing and shelter-in-place restrictions (lockdown), as well as the economic lockdown that came with these restrictions.
One of the initial consequences of these restrictions were panic buying which resulted in crowded markets and supermarkets, increase in prices of commodities and then the scarcity of the various essential and non-essential goods. These happened albeit the fact that the government exempted the essential workers and people who are engaged in the production of food, water and other essential goods.
Those who had converted to the digital economy – e-commerce and e-payment – led their lives without having the pangs of the consequences of those government-imposed restrictions as they went on and got all their basic essentials from the various online platforms that never had a disruption in their service delivery.
Other people soon began converting to the digital economy in their numbers, ordering and paying for their needs and services online from the comfort of their homes and had them delivered to them promptly.
Even big-time producers like the Coca-Cola, Procter & Gamble, Mastercard etc got converted and tweaked their supply chains to include offering their products and services on the Jumia e-commerce platform.
The reward from the increased digital economic activities was quick for companies in the digital economic space such as those in the e-commerce delivering goods and services to consumers and those processing the payments of these goods through contactless platforms like credit and debit cards.
Jumia, Africa’s leading e-commerce platform significant traction month-on-month increase in the number of orders on its platform, a bold indication of the heavy recourse that customers place on them.
In the report of its financial results for the quarter ended March 31, 2020, Jumia recorded huge improvements in all measuring indices over the same period last year, signalling that the e-commerce company thrived in the period of the COVID-19 lockdown.
During the period under review, Jumia gross profit was €18.4 million, a year-over-year increase of 21 per cent. The number of annual active consumers on its platform was 6.4 million, a 51 per cent increase over the last year’s figure. Customers’ orders grew to 6.4 million, a 28 per cent increase over what it was as at 31 March 2019.
Total payment value (TPV) reached €35.5 million, a year-over-year increase of 71 per cent, taking on-platform TPV penetration from 10 per cent in the first quarter of 2019 to 19 per cent in the first quarter of 2020. JumiaPay transactions reached 2.3 million, a year-over-year increase of 77 per cent, representing 35 per cent on-platform penetration in terms of orders. The company’s operating loss was €43.7 million, a four per cent decrease year-over-year.
Although the increase in e-commerce boosted the use of cards and mobile payments in recent years owing to convenience, ease, flexibility, speed and security, the continued COVID-19 pandemic has further increased the use of contactless payments as cash payments increase one’s risk of contracting the disease.
According to new research conducted by Crowdfund Insider in May, 50 per cent of U.S. consumers reportedly availed of contactless payment methods at least four times with 69 per cent agreeing that this mode is more convenient than cash transactions.
Also, 60 per cent of U.S. consumers confirmed that these hassle-free digital payments will urge them to continue with the process even in the post-COVID world.
Another research conducted by Capgemini, a consultancy giant and BNP Paribas shows that transactions carried out by people all over the world using digital payment technologies are expected to hit USD726 billion by 2020. This expectation is being driven by the emerging markets’ increasing adoption of digital payment services across all market segments which will bring about an increase in the volume of non-cash payments, according to Christophe Vergne, Capgemini’s Practice Leader (Cards & Payment).
Even though the United States still lags in respect of adopting cashless payments, the country is catching up fast in that direction. In a 2018 study conducted by A T Kearney, a global management consulting firm, just three per cent of the cards used was contactless in the country compared to around 64 per cent in the United Kingdom and 96 per cent in South Korea.
One major fallout of the COVID-19 pandemic is the paradigm shift it has brought about in people’s lifestyle. More and more people are having more recourse to e-commerce subsector of the economy, shopping and paying for the goods and services online.
What seemed to be a luxury thing is now embraced as a necessity, and there is no gainsaying, the converts, having tasted the convenience and cost-saving attributes, will move back to their old ways of physical shopping and cash payment systems. The digital economy has now become the new normal.
Ezedi, a Business and Communication Expert, writes from Lagos
Feature/OPED
How Christians Can Stay Connected to Their Faith During This Lenten Period
It’s that time of year again, when Christians come together in fasting and prayer. Whether observing the traditional Lent or entering a focused period of reflection, it’s a chance to connect more deeply with God, and for many, this season even sets the tone for the year ahead.
Of course, staying focused isn’t always easy. Life has a way of throwing distractions your way, a nosy neighbour, a bus driver who refuses to give you your change, or that colleague testing your patience. Keeping your peace takes intention, and turning off the noise and staying on course requires an act of devotion.
Fasting is meant to create a quiet space in your life, but if that space isn’t filled with something meaningful, old habits can creep back in. Sustaining that focus requires reinforcement beyond physical gatherings, and one way to do so is to tune in to faith-based programming to remain spiritually aligned throughout the period and beyond.
On GOtv, Christian channels such as Dove TV channel 113, Faith TV and Trace Gospel provide sermons, worship experiences and teachings that echo what is being practised in churches across the country.
From intentional conversations on Faith TV on GOtv channel 110 to true worship on Trace Gospel on channel 47, these channels provide nurturing content rooted in biblical teaching, worship, and life application. Viewers are met with inspiring sermons, reflections on scripture, and worship sessions that help form a rhythm of devotion. During fasting periods, this kind of consistent spiritual input becomes a source of encouragement, helping believers stay anchored in prayer and mindful of God’s presence throughout their daily routines.
To catch all these channels and more, simply subscribe, upgrade, or reconnect by downloading the MyGOtv App or dialling *288#. You can also stream anytime with the GOtv Stream App.
Plus, with the We Got You offer, available until 28th February 2026, subscribers automatically upgrade to the next package at no extra cost, giving you access to more channels this season.
Feature/OPED
Turning Stolen Hardware into a Data Dead-End
By Apu Pavithran
In Johannesburg, the “city of gold,” the most valuable resource being mined isn’t underground; it’s in the pockets of your employees.
With an average of 189 cellphones reported stolen daily in South Africa, Gauteng province has become the hub of a growing enterprise risk landscape.
For IT leaders across the continent, a “lost phone” is rarely a matter of a misplaced device. It is frequently the result of a coordinated “snatch and grab,” where the hardware is incidental, and corporate data is the true objective.
Industry reports show that 68% of company-owned device breaches stem from lost or stolen hardware. In this context, treating mobile security as a “nice-to-have” insurance policy is no longer an option. It must function as an operational control designed for inevitability.
In the City of Gold, Data Is the Real Prize
When a fintech agent’s device vanishes, the $300 handset cost is a rounding error. The real exposure lies in what that device represents: authorised access to enterprise systems, financial tools, customer data, and internal networks.
Attackers typically pursue one of two outcomes: a quick wipe for resale on the secondary market or, far more dangerously, a deep dive into corporate apps to extract liquid assets or sellable data.
Clearly, many organisations operate under the dangerous assumption that default manufacturer security is sufficient. In reality, a PIN or fingerprint is a flimsy barrier if a device is misconfigured or snatched while unlocked. Once an attacker gets in, they aren’t just holding a phone; they are holding the keys to copy data, reset passwords, or even access admin tools.
The risk intensifies when identity-verification systems are tied directly to the compromised device. Multi-Factor Authentication (MFA), widely regarded as a gold standard, can become a vulnerability if the authentication factor and the primary access point reside on the same compromised device. In such cases, the attacker may not just have a phone; they now have a valid digital identity.
The exposure does not end at authentication. It expands with the structure of the modern workforce.
65% of African SMEs and startups now operate distributed teams. The Bring Your Own Device (BYOD) culture has left many IT departments blind to the health of their fleet, as personal devices may be outdated or jailbroken without any easy way to know.
Device theft is not new in Africa. High-profile incidents, including stolen government hardware, reinforce a simple truth: physical loss is inevitable. The real measure of resilience is whether that loss has any residual value. You may not stop the theft. But you can eliminate the reward.
Theft Is Inevitable, Exposure is Not
If theft cannot always be prevented, systems must be designed so that stolen devices yield nothing of consequence. This shift requires structured, automated controls designed to contain risk the moment loss occurs.
Develop an Incident Response Plan (IRP)
The moment a device is reported missing, predefined actions should trigger automatically: access revocation, session termination, credential reset and remote lock or wipe.
However, such technical playbooks are only as fast as the people who trigger them. Employees must be trained as the first line of defence —not just in the use of strong PINs and biometrics, but in the critical culture of immediate reporting. In high-risk environments, containment windows are measured in minutes, not hours.
Audit and Monitor the Fleet Regularly
Control begins with visibility. Without a continuous, comprehensive audit, IT teams are left responding to incidents after damage has occurred.
Opting for tools like Endpoint Detection and Response (EDR) allows IT teams to spot subtle, suspicious activities or unusual access attempts that signal a compromised device.
Review Device Security Policies
Security controls must be enforced at the management layer, not left to user discretion. Encryption, patch updates and screen-lock policies should be mandatory across corporate devices.
In BYOD environments, ownership-aware policies are essential. Corporate data must remain governed by enterprise controls regardless of device ownership.
Decouple Identity from the Device
Legacy SMS-based authentication models introduce avoidable risk when the authentication channel resides on the compromised handset. Stronger identity models, including hardware tokens, reduce this dependency.
At the same time, native anti-theft features introduced by Apple and Google, such as behavioural theft detection and enforced security delays, add valuable defensive layers. These controls should be embedded into enterprise baselines rather than treated as optional enhancements.
When Stolen Hardware Becomes Worthless
With POPIA penalties now reaching up to R10 million or a decade of imprisonment for serious data loss offences, the Information Regulator has made one thing clear: liability is strict, and the financial fallout is absolute. Yet, a PwC survey reveals a staggering gap: only 28% of South African organisations are prioritising proactive security over reactive firefighting.
At the same time, the continent is battling a massive cybersecurity skills shortage. Enterprises simply do not have the boots on the ground to manually patch every vulnerability or chase every “lost” terminal. In this climate, the only viable path is to automate the defence of your data.
Modern mobile device management (MDM) platforms provide this automation layer.
In field operations, “where” is the first indicator of “what.” If a tablet assigned to a Cape Town district suddenly pings on a highway heading out of the city, you don’t need a notification an hour later—you need an immediate response. An effective MDM system offers geofencing capabilities, automatically triggering a remote lock when devices breach predefined zones.
On Supervised iOS and Android Enterprise devices, enforced Factory Reset Protection (FRP) ensures that even after a forced wipe, the device cannot be reactivated without organisational credentials, eliminating resale value.
For BYOD environments, we cannot ignore the fear that corporate oversight equates to a digital invasion of personal lives. However, containerization through managed Work Profiles creates a secure boundary between corporate and personal data. This enables selective wipe capabilities, removing enterprise assets without intruding on personal privacy.
When integrated with identity providers, device posture and user identity can be evaluated together through multi-condition compliance rules. Access can then be granted, restricted, or revoked based on real-time risk signals.
Platforms built around unified endpoint management and identity integration enable this model of control. At Hexnode, this convergence of device governance and identity enforcement forms the foundation of a proactive security mandate. It transforms mobile fleets from distributed risk points into centrally controlled assets.
In high-risk environments, security cannot be passive. The goal is not recovery. It is irrelevant, ensuring that once a device leaves authorised hands, it holds no data, no identity leverage, and no operational value.
Apu Pavithran is the CEO and founder of Hexnode
Feature/OPED
Daniel Koussou Highlights Self-Awareness as Key to Business Success
By Adedapo Adesanya
At a time when young entrepreneurs are reshaping global industries—including the traditionally capital-intensive oil and gas sector—Ambassador Daniel Koussou has emerged as a compelling example of how resilience, strategic foresight, and disciplined execution can transform modest beginnings into a thriving business conglomerate.
Koussou, who is the chairman of the Nigeria Chapter of the International Human Rights Observatory-Africa (IHRO-Africa), currently heads the Committee on Economic Diplomacy, Trade and Investment for the forum’s Nigeria chapter. He is one of the young entrepreneurs instilling a culture of nation-building and leadership dynamics that are key to the nation’s transformation in the new millennium.
The entrepreneurial landscape in Nigeria is rapidly evolving, with leaders like Koussou paving the way for innovation and growth, and changing the face of the global business climate. Being enthusiastic about entrepreneurship, Koussou notes that “the best thing that can happen to any entrepreneur is to start chasing their dreams as early as possible. One of the first things I realised in life is self-awareness. If you want to connect the dots, you must start early and know your purpose.”
Successful business people are passionate about their business and stubbornly driven to succeed. Koussou stresses the importance of persistence and resilience. He says he realised early that he had a ‘calling’ and pursued it with all his strength, “working long weekends and into the night, giving up all but necessary expenditures, and pressing on through severe setbacks.”
However, he clarifies that what accounted for an early success is not just tenacity but also the ability to adapt, to recognise and respond to rapidly changing markets and unexpected events.
Ambassador Koussou is the CEO of Dau-O GIK Oil and Gas Limited, an indigenous oil and natural gas company with a global outlook, delivering solutions that power industries, strengthen communities, and fuel progress. The firm’s operations span exploration, production, refining, and distribution.
Recognising the value of strategic alliances, Koussou partners with business like-minds, a move that significantly bolsters Dau-O GIK’s credibility and capacity in the oil industry. This partnership exemplifies the importance of building strong networks and collaborations.
The astute businessman, who was recently nominated by the African Union’s Agenda 2063 as AU Special Envoy on Oil and Gas (Continental), admonishes young entrepreneurs to be disciplined and firm in their decision-making, a quality he attributed to his success as a player in the oil and gas sector. By embracing opportunities, building strong partnerships, and maintaining a commitment to excellence, Koussou has not only achieved personal success but has also set a benchmark for future generations of African entrepreneurs.
His journey serves as a powerful reminder that with determination and vision, success is within reach.
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