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Three Trends Currently Shaping GovTech Landscape

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Here are Three Trends Presently Shaping GovTech Landscape

The COVID-19 pandemic has challenged the majority of countries around the world. While some of the solutions proposed by governments have varied, when it comes to providing social, economic, and medical assistance, those with developed GovTech—a whole-of-government approach to public sector digitization—have generally been more efficient.

The pandemic has highlighted the importance of such systems, but as with any crisis, it has also left many pondering: how will GovTech evolve in the future?

Experts at NRD Companies, a global IT and consulting group of companies specializing in governance and economic digital infrastructure, have elaborated on how the landscape of GovTech might look like going forward.

Remote collaboration

The importance of developing e-government systems has not been overshadowed by the pandemic. In fact, the adverse conditions have only reinforced the need for GovTech solutions as countries seek to deliver their citizens an efficient way of accessing public services. With a deadly virus raging and travel restrictions in place, the crisis has opened up new opportunities for remote collaboration, which is no longer seen as an option, but rather as a necessary component for successful GovTech project implementation.

“As tools, processes, and software constantly improve, it has become possible to implement large-scale GovTech projects entirely remotely, regardless of location and time zones,” said Mindaugas Glodas, CEO at NRD Companies. “Of course, consulting and implementing projects remotely is significantly more complex than doing it the usual way, thus when choosing partners, countries should consider their experience in working with such projects. In any case, moving forward, remote work will stay with us even after the pandemic, as countries are becoming more aware of the benefits such methodology brings to the table.”

One such project involves Barbados, an island country in the Caribbean which has recently agreed, even amidst the pandemic, to take the first step toward digitizing the public sector. Working together with NRD Companies, the nation will implement a progressive e-services delivery platform entirely remotely, encouraging cooperation and data exchange between the public sector and the government by providing a Directory of Services and designated online spaces for citizens, businesses, and the government.

Shift to cloud

Multiple governments around the world still rely on physical, premise-based data centers. Such centers require careful management and are vulnerable to fire, smoke, moisture, flood, pollution, and data leakages. As governments receive more and more sensitive data, storing it in bare metal servers is becoming too risky to continue.

“The limitations of legacy systems are going to encourage a shift to cloud,” said Mr Glodas. “It is no longer safe and practical to store data on physical servers, especially when an increasing number of governments are choosing the digitization path. Going cloud is the next logical step as it provides more resilience, saves money and stimulates innovation.This has been happening for quite some time in the private sector, but the transition in the public sector is only accelerating.”

In particular, private clouds are now on the rise. In 2018, a study predicted that governments will shift to private cloud at twice the rate of public cloud through 2021. Since then, the German federal government, the French Ministry of the Interior and a few Swedish government agencies, among others, have transitioned to private cloud to ensure control and security.

Other countries choose similar cloud solutions. Partnering with NRD Companies, Anguilla, a British overseas territory in the Caribbean, will have its electronic system for the Commercial Registry implemented on a hybrid cloud—a combination of on-premises infrastructure, private and public clouds—to ensure availability in a cost-effective way.

Positive influence of electronic business registries

The private sector is crucial in the country’s fight against poverty through investment and job creation. Where an effective private sector is lacking, business registration reform has been shown to be one of the essential first steps toward improving the business environment and fostering private sector growth. The easier, faster, and cheaper the business registration process becomes, the higher number of businesses are in an economy.

“When local businesses flourish, they create jobs and generate income that can be spent and invested domestically,” said Ieva Tarailienė, Head of Registry Practice at NRD Companies. “And for the businesses to flourish, favorable conditions must be ensured by the government. This is where digitization can help tremendously—online business registries streamline the whole process of formally registering one’s business and at the same time level the playing ground. As long as governments continue developing online business registration registries, it is a no brainer that their economic segments will only improve.”

The benefits of electronic business registries are reflected in the World Bank’s Ease of Doing Business ranking, which often acts as a guiding light for foreign investors. For example, Mauritius, an island nation in the Indian Ocean, has moved up 36 places during the last three years and is now ranked first in the Sub-Saharan region and 13th overall in the latest Doing Business ranking. This is mostly thanks to its paperless e-registry system, recently developed by NRD Companies, which allows businesses and citizens to use over 30 registries completely remotely.

Is the CEO and Founder of Investors King Limited. He is a seasoned foreign exchange research analyst and a published author on Yahoo Finance, Business Insider, Nasdaq, Entrepreneur.com, Investorplace, and other prominent platforms. With over two decades of experience in global financial markets, Olukoya is well-recognized in the industry.

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E-commerce

Nigerians To Enjoy 85% Discount On Groceries, Phones, Home Appliances, Others As Konga Begins Yakata Black Friday Sale

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Konga

Consumers in Nigeria now have opportunity to get 85 percent discount on products of their choice in this year’s yuletide as Konga, Nigeria’s leading e-commerce group, has officially commenced its highly anticipated annual Konga Yakata Black Friday sale.

The offer that was launched on Friday, November 1st, will run through November 30th, 2024.

The Konga Yakata Black Friday campaign is a unique opportunity for Nigerian consumers to access premium products at unbeatable prices, while also benefiting from Konga’s trusted logistics and payment solutions. Shoppers are encouraged to visit Konga.com to take advantage of these exceptional offers throughout November.

According to the management of the firm, this year’s Yakata sale brings unbeatable offers across all Konga subsidiaries, including Konga Online, Konga Retail, KongaPay, Konga Travel and Tours, Konga Health, and Konga Logistics.

Touted as the “Biggest Sale of the Year,” Konga Yakata Black Friday offers consumers the opportunity to enjoy up to 85% discount on a wide range of products across categories, including groceries, phones and accessories, home appliances, fashion, and beauty.

It is believed that the sale campaign will usher significant relief to shoppers as Konga moves to cushion the effect of the nation’s harsh economic realities.

As a trusted and authorized retailer of leading Original Equipment Manufacturers (OEMs), Konga provides shoppers with unmatched access to genuine products from renowned brands such as Starlink, L’Oreal, Apple, Samsung, Philips, Zinox, Nokia, Hisense, Oppo, Infinix, Lenovo, and HP.

It further asked consumers to expect not only the convenience of authentic goods but also a distinct pricing advantage on these premium brands.

The Yakata campaign also supports Nigerian small and medium-scale enterprises (SMEs) by driving consumer demand through nationwide awareness and promoting e-commerce adoption.

It indicated that Konga has invested significantly in creating awareness for Yakata, enabling more Nigerians to leverage online shopping for their essential needs and lifestyle desires.

For this year’s offer, the deals do not end on Konga.com alone as Konga, through its subsidiaries, provides exclusive deals to customers during the Yakata period:

Konga Travel and Tours affiliates and top clients were asked to watch out for perks including free weekend hotel accommodations, and a zero-service charge for corporate clients who book travel during the Yakata campaign.

Konga Health is offering exciting discounts on renowned brands like CeraVe and on your favourite beauty and health products. Customers can also use your favourite Konga Health influencer’s voucher code to unlock even more exclusive deals and freebies! Stay tuned to Konga Health’s social media pages for the latest updates and announcements.

KongaPay is offering shoppers who use KongaPay for purchases on Konga.com will receive a 10% discount, with additional benefits like 10% off on bill payments including electricity, cable TV, and data.

It added that users who maintain a savings balance of at least NGN50,000 are eligible for a 15% annual interest rate. As part of a special promotion, shoppers who use KongaPay also stand a chance to win cash prizes in a 100k giveaway. To qualify, customers simply need to download the KongaPay app and create an account in minutes.

Assuring customers of a seamless delivery system, Konga Logistics noted that it offers delivery at competitive, discounted rates. Konga Logistics assured that a seamless shopping experience with reliable and affordable delivery options for all purchases made during the Yakata season.

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MTN Nigeria Strengthens Working Capital By Raising N50bn In New Commercial Paper

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MTN

MTN Nigeria Communications PLC (MTN Nigeria) has disclosed plans to raise N50 billion through its latest issuance of commercial paper (CP) to boost its working capital.

The plan is under N250 billion Commercial Paper Issuance Programme.

Not only that this Series 11 and 12 CP issuance is expected to strengthen MTN Nigeria’s short-term working capital, it will also diversify its financing base.

A notification to the Nigerian Exchange Limited and the investing public further revealed that this proposed issuance is part of MTN Nigeria’s ongoing strategy to tap the debt market as a flexible funding source to meet immediate financial needs.

It builds upon the company’s series of CP issuances in the past year as it pursues a robust approach to balance its capital structure.

The funds are expected to support the company’s operational and growth requirements as it seeks to expand its infrastructure, improve service delivery, and cater to the increasing demand for telecommunications and digital services across Nigeria.

MTN’s financial statement as of September 2024 suggests it has negative working capital of about N1.49 trillion

The cash flow is necessary in order to enable the company meet cash flow demands and service short-term debt without over-relying on long-term financing

This approach provides financial flexibility, allowing MTN Nigeria to manage interest costs and adjust its debt profile in line with operational cash flow, which is critical for a company with significant external loans.

The issuance also serves the broader purpose of diversifying MTN Nigeria’s financing sources, reducing reliance on bank loans, and maintaining a balance between short- and long-term debt.

This financial strategy not only enhances MTN’s liquidity but also positions it to better withstand the economic challenges in Nigeria’s volatile business environment.

While the company has yet to disclose specific terms of the Series 11 and 12 notes, further details are expected to be shared in the coming weeks.

 

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E-commerce

Jumia Nigeria Launches Black Friday Offers, Extends Services To Smaller Towns, Villages

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Jumia Nigeria has launched its Black Friday deals and offers as consumers in smaller towns and villages nationwide now have access to its shopping experiences.

The company disclosed that it is expanding e-commerce access bearing in mind that the prevalent economic downturn in the country is having its tolls on many Nigerians, especially those in rural communities.

It disclosed that the campaign will run from November 1st to November 30th, 2024 with the theme ‘No Too Calculate’.

Reiterating its commitment to creating a simpler, stress-free shopping experience for Nigerians amid economic challenges, Jumia promised to allow consumers to enjoy great savings without budgetary worries.

Disclosing that this year’s Black Friday campaign is supported by Xiaomi as the platinum partner, alongside renowned brands such as Oraimo, Nivea, Infinix, Tecno, Itel, Haier Thermocool, Binatone, Pernod Ricard, Diageo, Bacardi, Hikers, Ecoflow, Skyrun, Glamstar, Ledrop, Unilever, Macallan, LG, and others, the CEO, Jumia Nigeria, Sunil Natraj stressed that the campaign is about making e-commerce more accessible to consumers in Nigeria.

Recognising the current economic situation in the country , Natraj said Jumia has worked closely with its brand partners to offer the best possible deals to consumers during this period.

According to him, Jumia expanded its network of Pickup Stations to ensure that even more consumers, regardless of their location, can benefit from the convenience of online shopping.

Harping on the company’s priority of creating real value for both its consumers and sellers through its extensive ecosystem, the CEO said those in rural areas would easily participate in the online shopping and get their delivery seamlessly.

For the Country Manager, Xiaomi Nigeria, Xingyu Yang, everyone deserves access to the latest cutting-edge technology, noting that Jumia Black Friday is the perfect opportunity for consumers to experience Xiaomi’s nnovative products at unbeatable prices.

He said since Jumia introduced Black Friday to Nigeria in 2014, the company has continued to unlock new opportunities for both consumers and businesses, expressing confidence that Nigeria will play a pivotal role in projection that online shopping in Africa will reach $75 billion by 2025.

He added that the Black Friday campaign serves as a powerful platform for international and local brands as well as SMEs to expand their reach and boost sales.

To make the online shopping and delivery easier, Yang stated that Jumia has extended its logistics network and has partnered with hundreds of local logistics service providers that will ensure easy delivery to all corners of Nigeria, including smaller towns and rural areas.

Listed on the New York Stock Exchange (NYSE) in 2019, Jumia is the leading e-commerce company in Africa, operating in 11 countries. The Jumia platform consists of a marketplace, which connects sellers with consumers, a logistics service, which enables the shipment and delivery of packages from sellers to consumers, and a payment service, JumiaPay, which offers a safe and easy solution to facilitate online payment transactions.

The company offers goods across a broad range of categories, such as phones and electronics, home appliances, fast-moving consumer goods, fashion and beauty.

 

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