Technology

NCC Seeks Robust PPP to Drive Digital Infrastructure

Published

3 years ago

28/07/2021

By Adedapo Adesanya

The Nigerian Communications Commission (NCC) has called for more innovative Public-Private-Partnership (PPP) approaches aimed to make telecommunications infrastructure safer, more resilient and robust in Nigeria.

This was made by Mr Umar Danbatta, the Executive Vice Chairman of NCC, while delivering his keynote address at two-day Virtual Information Communication Technology & Telecommunications (ICTEL) organised by the Lagos Chamber of Commerce and Industry (LCCI) themed Disruptions, Resilience and Governance in Digital Economy.

He said the agency was always exploring means to attract more investment into the sector.

“There is no gainsaying the fact that the next frontier for enriching digital economy globally is through sustained investment in broadband or high-speed Internet access.

Speaking on Exploring Public-Private Collaboration for a Robust Digital Infrastructure, Regulations, Investment and Policy, he said that the concept of PPP has become one of the commonly used models of collaboration among stakeholders to fast track socio-economic development whether at the global, regional and national levels.

According to him, in 2017, the United Nations Industrial Development Organization (UNIDO) and the International Telecommunication Union (ITU) signed a joint declaration in Geneva, “on the advancement of the 2030 Agenda for Sustainable Development Goals (SDGs), in particular, industrialization, infrastructure development and innovation”.

The UNIDO and ITU, driving innovation in ICTs together with 193 member states and over 700 private sector entities and academic institutional membership, planned to strengthen country-level collaborations.

The two agencies, Mr Danbatta said, “resolved to contribute to global, regional and national efforts toward achieving SDG9, and particularly through action plans that are designed to attract public-private partnerships and investment.

“The collaboration between ITU and UNIDO, thus, represents a very important commitment from global organisations to deliver measurable and sustainable solutions within countries, towards achieving the SDGs, with a focus on “infrastructure, industry and innovation,” through a PPP arrangement.

“It is on record that this kind of partnership is helping to fast track the realization of SDG9 with derivable quantifiable benefits to industry, including small and medium-sized enterprises in emerging economies.

“Similarly, it is particularly of interest that the African Development Bank (AfDB), in a White Paper on PPP Framework released in September 2020, was emphatic that the infrastructure gap in African countries acts as an impediment to their economic growth and development”.

According to the White Paper, the gaps impact not only the economic situation of the citizens of Africa but also the countries’ global competitiveness.

The paper also estimates that poor infrastructure shaves off 2 per cent of the per capita Gross Domestic Product (GDP) growth rates.

“Suffice it to say that, the role of public-private partnership in infrastructure development in Nigeria cannot be overemphasised because an adequate, robust and functioning infrastructure is the bedrock of communal and societal development.

“Therefore, to meet future challenges, our industries and infrastructure must be upgraded by evolving an enduring PPP model that services all the sectors of the economy.

“Objectively, the high level of infrastructure deficit and its attendant effect on socio-economic development in Nigeria explains government’s concern and search for an alternative means of providing infrastructure for Nigeria’s teeming population.

“Thus, in 2005, the Federal Government established the Infrastructure Concession Regulatory Commission (ICRC) with a clear objective to accelerate investment in national infrastructure through private sector funding; and to assist the Federal Government of Nigeria and its Ministries, Departments, and Agencies (MDAs) to establish and implement effective PPP processes.

“It is gratifying that state governments have also adopted variants of PPP models in order to tackle the challenge of infrastructure in their respective jurisdictions”, the EVC recalled.

The NCC boss added that if the telecom and ICT sector is the real ‘infrastructure of infrastructure’ as it is often referred to because of its impact, efficiency and effectiveness on the growth of other sectors, it stands to reason, that the telecom sector is the most important sphere PPP should be adopted.

Interestingly, a 2012 World Bank report already documented how PPP projects have been used to provide broadband access nationally, regionally, or in rural areas to improve broadband access to unserved and underserved locations.

Indeed, the World Bank equally revealed in its 2021 report PPP that the PPP scheme is also helping in key areas of supporting the development of innovative policies, actions, standards and technologies in order to connect the unconnected in any nation, create jobs, enable efficient natural resource utilisation, and electronic waste management.

“The report also states that Public-Private Partnerships have also served as organising principles to facilitate product interoperability, reduce the digital and gender divides, and support growth of micro, small and medium-sized enterprises (MSMEs).

“In Nigeria, the Nigerian Communications Commission (NCC) is particularly noted for its faith in strategic collaboration and partnership as a central principle of its stakeholders’ relationship management and regulatory activities.

“Our daily regulatory processes are marked by consultations with a wide spectra of stakeholders as well as strategic partnering and collaboration with both private sector players and other sister public sector organisations”.

He said that following the liberalisation of the telecoms sector in 2001, the Commission has continued to facilitate investment inflow into the country’s digital space through licensing of many private sector players, who are deploying services in a different segment of the nation’s telecom market.

“This has resulted in rollout of massive infrastructure ranging from the deployment of Base Transceiver Stations (BTS) and laying of thousands of kilometres of fibre optic cables to every nook and cranny of the country.

“Hence, the sector has grown significantly in investment with significant access to an array of voice, data and other kinds of enterprises.

“The commission has also continued to enhance existing infrastructure through the licensing of a category of private sector players known as Infrastructure Companies (InfraCo), who are to deploy fibre optic cable on a wholesale basis across the country with broadband Point of Access (PoA) in each of the 774 Local Government Areas of the country.

This InfraCo scheme is running on a PPP arrangement, where the government provides a counterpart fund as a subsidy to stimulate faster, more robust and resilient broadband infrastructure rollout across the country.

While broadband penetration in Nigeria has reached 45 per cent at the moment, from less than 6 per cent in 2015, and by that fact stimulating digital activities in the country, there still exist access gaps which the Commission is making efforts to bridge.

It is noteworthy that the hitherto existing access gaps of 217 identified in the country have been reduced to 114 through increased collaboration between the Commission and stakeholders in the telecom ecosystem.

“Hence, the InfraCo project being implemented by NCC and other similar regulatory initiatives which has PPP component are in line with policy expectations of the Nigerian National Broadband Plan (NNBP) 2020-2025; the National Digital Economy Policy and Strategy (NDEPS) 2020-2030; the NCC Strategic Management Plan (SMP) 2020-2024, as well as a number of regulatory instruments and frameworks which envisioned the PPP model as a central organising principle for fast-tracking the development of Nigeria’s telecoms industry”, he said.

The EVC said that NCC is renowned for its tradition of engaging in robust stakeholder consultation on the development of its various regulations and policy initiatives.

Technology

P2Vest, Others Invest $1.6m in Billboxx for Cash Flow Solutions

Published

3 days ago

12/12/2024

Dipo Olowookere

By Dipo Olowookere

To tackle the critical cash flow challenges faced by Small and Medium Enterprises (SMEs) across Africa, investors like P2Vest, Norrsken Accelerator, Afrinovation Ventures, Kaleo Ventures, and 54 Collective (formerly known as Founders Factory Africa), have invested about $1.6 million into Billboxx.

The integrated billing-to-payment platform, founded in 2023, successfully closed the pre-seed funding round, which is a mix of debt and equity, due to its innovative approach and commitment to building a more financially secure future for SMEs – the backbone of the African economy.

Manual invoicing and deferred payments often result in delayed payments, stifling many SMEs, but Billboxx’s integrated billing-to-payment platform streamlines billing processes, reduces inefficiencies from manual invoicing and mitigates the impact of deferred payments.

By providing automated billing and invoicing, secure payment facilitation, and tailored cash flow financing, Billboxx empowers businesses to achieve consistent cash flow and focus on growth.

Since its inception, the company has facilitated over $4 million in invoice payments through its MVP launched in May 2023.

The platform boasts strategic integrations with a leading commercial bank in Nigeria, a prominent African payment gateway, and multiple lending partners, enabling seamless payment facilitation via bank transfers, cards, and financing options.

“Cash flow difficulties are the leading cause of business failures in Africa, with delayed invoice payments being a major contributor.

“Billboxx is dedicated to solving these issues with an integrated platform that ensures consistent cash flow and financial resilience for businesses.

“This funding round enables us to expand our impact and empower more SMEs to thrive,” the co-founder and chief executive of BillBoxx, Mr Justus Obaoye, said.

Another co-founder and chief technical officer, Mr Abdulazeez Ogunjobi, noted that, “Delayed invoice payments pose a significant threat to SME growth and survival.

“Our platform not only streamlines the billing-to-payments workflows but also offers strategic embeddings to expedite payments. We aim to alleviate payment concerns and allow SMEs to focus on their core business.”

One of the investors, Bongani Sithole of 54 Collective, said, “We’re enthusiastic about the innovative work the Billboxx team is building. These 3x founders with successful exits under their belts are leveraging their leadership and business experience to tackle a massive pain point for SMEs across Africa.

“We invested in the company due to the large market size of the opportunity, impressive early traction gained from strong early partnerships with notable large corporates and startups, and the solid tech product the team has developed. We’re delighted to back Justus and Abdulazeez as they continue to scale Billboxx.”

Mr Obaoye and Mr Ogunjobi previously co-founded two startups: Charistouch (Carido), successfully acquired by Cars45, and Fixit45, a spin-off from Cars45.

Their leadership experience in large corporations and scaleups such as Schlumberger, Bolt, and OLX add to their strategic insight and entrepreneurial prowess.

Technology

The Rise of Web3 Developers: Why This Career Path is the Future of Tech

Published

5 days ago

10/12/2024

Business Post Contributor

As technology advances, the internet is undergoing a revolutionary shift toward decentralization. Known as Web3, this next phase of the internet is redefining how we interact with digital systems by emphasizing transparency, user ownership, and autonomy.

At the heart of this evolution are Web3 developers—professionals whose expertise in blockchain and decentralized systems is driving innovation and creating exciting new opportunities. Pursuing a Web3 career is not just about adapting to industry trends; it’s about shaping the future of technology. In this article, we’ll explore why Web3 developers are in high demand and how you can step into this promising field.

What is Web3?

Web3 represents the decentralized evolution of the internet. Unlike its predecessor, Web2, where centralized platforms dominate, Web3 leverages blockchain technology to create an ecosystem that is transparent, secure, and community-driven.

Some of the defining features of Web3 include:

Decentralization: Control is distributed among users rather than being concentrated in a single organization.
Transparency: Blockchain technology ensures that all transactions and operations are open and verifiable.
Automation: Smart contracts allow for self-executing agreements, reducing the need for intermediaries.

This paradigm shift has unlocked immense opportunities, particularly for developers who can create, manage, and enhance Web3 applications.

Why a Web3 Career is the Future

Rapid Growth in Blockchain Technology

Blockchain is no longer just about digital currencies; its applications have expanded to include finance, healthcare, logistics, and gaming, among others.

This rapid adoption is driving an unprecedented demand for Web3 developers to build decentralized applications (dApps) and integrate blockchain solutions across various sectors.

High Demand and Competitive Compensation

The demand for Web3 talent has outpaced supply, making it one of the most lucrative fields in tech. Web3 developers often earn significantly more than traditional developers due to their specialized skills.

Many roles offer remote and flexible working arrangements, enabling global opportunities.

Opportunities for Innovation

Web3 is still in its infancy, making it a playground for innovators. From creating decentralized finance systems to building virtual economies in the metaverse, developers have the chance to work on groundbreaking projects that redefine industries.

Key Skills for a Successful Web3 Career

To excel as a Web3 developer, mastering certain skills is essential:

Programming Knowledge: Proficiency in languages like Solidity, Rust, or Go, commonly used in smart contract and blockchain development.
Blockchain Fundamentals: A deep understanding of how decentralized networks function and their architecture.
Smart Contracts: The ability to design and implement self-executing contracts.
Cryptography: Knowledge of encryption techniques to ensure security in applications.

Soft skills such as adaptability and problem-solving are equally important, given the fast-paced nature of the industry.

Benefits of Pursuing a Web3 Career

A career in Web3 comes with a range of unique advantages:

Global Reach: The decentralized nature of Web3 opens doors to international opportunities without geographical limitations.
Future-Ready Skills: Web3 expertise is increasingly sought after, offering a secure and sustainable career path.
Collaborative Ecosystem: Unlike traditional tech environments, Web3 thrives on open collaboration and community-driven development.
Freedom to Innovate: Developers have the flexibility to experiment and contribute to transformative projects.

Steps to Start Your Web3 Journey

Breaking into a Web3 career may seem challenging, but with a focused approach, it’s entirely achievable. Here’s how to get started:

Understand the Basics

Learn the core concepts of blockchain technology, decentralized systems, and smart contracts.
Explore educational resources, tutorials, and online communities for foundational knowledge.

Develop Technical Skills

Master programming languages and frameworks commonly used in blockchain development.
Familiarize yourself with Web3-specific tools and libraries to streamline your workflow.

Build Projects

Start small by creating basic decentralized applications or experimenting with smart contracts.
Showcase your work in a portfolio to demonstrate your capabilities for a potential employer.

Engage with the Community

Join forums, developer meetups, and hackathons to network with others in the field.
Stay updated on industry trends by following Web3-focused discussions and publications.

Continue Learning

The Web3 space is constantly evolving, so staying up-to-date with advancements is crucial.
Seek out certifications or courses to deepen your expertise and credibility.

Challenges and Future Outlook

While the opportunities in Web3 are immense, they come with challenges. The fast-evolving technology requires developers to continually upskill. Additionally, the regulatory landscape for blockchain and decentralized systems is still developing, which may introduce uncertainties. A Web3 career offers more than just a job—it provides a chance to shape the next wave of technological innovation. As industries embrace decentralization, the demand for Web3 developers will only grow. Whether you’re a seasoned tech professional or someone looking to enter the field, now is the perfect time to explore this exciting career path. By stepping into the world of Web3, you’re not just advancing your skills—you’re becoming part of a movement that’s redefining how we connect, transact, and collaborate online. The future of technology is here, and it’s decentralized. Will you be part of it?

Technology

HubPharm Wins FCMB HERccelerate Women in Tech Programme

Published

6 days ago

09/12/2024

Adedapo Adesanya

By Adedapo Adesanya

HubPharm has emerged as the winner of First City Monument Bank (FCMB)’s HERccelerate Showcase Day held recently at Hub One, FCMB’s Innovation Hub in Yaba, Lagos.

The tech accelerator, powered by FCMB’s SheVentures and Hub One and delivered by 8thGear Hub & Venture Studios, was designed to empower women-led startups in Nigeria with the skills and resources needed to secure funding and scale.

HubPharm was the best out of 10 finalists with Midddleman, a platform simplifying payments for African e-commerce businesses sourcing from China coming second, while Onit, a productivity tool designed for African SMEs, secured third place.

The Showcase Day brought together the finalists selected from over 1,000 applications who pitched their innovative solutions to a panel of judges.

Ms Tope Kareem, the co-founder of the startup explained that HubPharm is a digital platform with a retail pharmacy chain which has delivered over 100,000 medications across 15 cities, ensuring 98 per cent on-time delivery with AI-driven logistics.

We plan to explore more options and ensure Nigerians, both at home and abroad, know the importance of prioritizing their health. This funding will enable us to keep growing and making an impact,” she noted.

Speaking on the HERccelerate initiative, Mrs Nnenna Jacob-Ogogo, Group Head of SheVentures, described it as “a testament to what we can achieve when we invest in women. While this is the first pilot of its kind, it is clear that women in tech have the talent, resilience, and vision to drive innovation.”

She also highlighted SheVentures’ broader impact, noting that over the past five years, they have “scaled businesses through four key pillars: access to finance, knowledge, markets, and networks. Our Zero Interest Loan program has provided over N800 million in funding to women entrepreneurs so far, an unprecedented achievement in the industry.”

The top 10 finalists will get free access to Hub One’s coworking space for a year, valued at over N5 million and will also be supported to scale their businesses.

FCMB’s HERccelerate programme is setting a new standard for supporting women in tech, with plans to accelerate over 200 startups in the next five years. By fostering innovation and inclusion, FCMB is shaping a brighter future for women entrepreneurs in Nigeria.