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Digital Diagnostic Care Debuts in Nigeria with PreDiagn

Joshua Moses March 7

Nigeria’s healthcare sector has a new entrant with the launch of Predaign, a healthtech startup that delivers economical and accessible diagnostic services to its users. This means that with a smartphone and an internet connection, patients can get their health queries attended to almost real time.

PreDiagn which was launched in February 2018, uses the internet to connect patients to laboratories closest to them. The catch is that it does so at a much lower cost with little time wasted. It is expected that with Prediagn, subscribers will be in control of their health.

Those within the scope of PreDiagn “ includes both the sick patient undergoing medical care and requiring laboratory testing for diagnosis and treatment monitoring by their physicians, as well as apparently healthy individuals with an interest in their health and wellness,” said Founder and Chief Executive Officer (CEO) Adekunle Oluwatosin Adeluwoye.

Another group that the service caters according to Adekunle are “the uninsured populace that covers diagnostic healthcare services out-of-pocket, and the under-insured, not able to access certain types of diagnostic plans under their insurance plan.”

PreDiagn, a part of Co-creation hub’s Make-IT accelerator program, which was founded in 2016 and began Beta testing last year, currently operates in three cities in Nigeria (Lagos, Calabar and Ibadan, with the immediate plans to expand to all other major Nigerian cities and states. And in a few years, time Adekunle hopes to also penetrate other African countries and emerging markets.

He believes that with 7 in 10 medical care requiring empirical-based diagnostic laboratory service for proper diagnosis, monitoring and/or treatment, “our market size is pretty huge.”

The startup is funded with finances raised from families and friends and profits ploughed back into the platform.

Nigerian Startup Thank U Cash Ropes In Investment From Ventures Platform

Andrew Christian October 19

Nigerian rewards platform Thank U Cash has secured funding from Lagos-based venture capital firm Ventures Platform.

While the amount of the investment remains undisclosed, the founding partner of Ventures Platform, Kola Aina announced the development via a medium post. According to him, the firm saw the huge but fragmented and significantly unstructured retail economy in African countries, as growing businesses do not have the needed resources or expertise to build robust loyalty programs or data analytics. Ventures Platform saw the loophole as an opportunity and decided to fund Thank U Cash to pioneer a solution.

This is Thank U Cash’s second funding this year, as a Weetracker report disclosed in August that the startup received investment from Nigerian VC Microtraction. The VC firm ordinarily invests USD 65 K in two stages, with an initial amount of about USD 15 K. Crunchbase, a business information platform, estimates that Thank U Cash has raised USD 12 K in funding over three rounds.

Thank U Cash is also part of the second cohort of Google Launchpad Accelerator Africa, which kicked off earlier in August.

The startup was founded this year by Madonna Ononobi, the company’s CEO, CTO Surak Supekar and COO Simeon Ononobi. Thank U Cash enabled consumers to save and earn loyalty points that can then be swapped for cash, and merchants benefit from the extra spend.

 

Team Cash Flow, 2 Others Hold the Centerstage At First Bank Fintech Summit 2.0

Andrew Christian October 19


Team Cash Flow led a handful of victorious players at the just concluded First Bank Fintech Summit. The event, which converged more than 700 fintech fevers, stakeholders and tech enthusiasts, was held at the Oriental Hotels in Lekki, Lagos State on Wednesday.

The Fintech Summit 2.0 metamorphosed into a three-day event that was themed The Future of Banking – The Role of AI and Big Data. The initiative was generally designed to be an avenue for Nigerian fintechs to showcase their original innovations that would fast become solutions in the financial sector of the country’s economy. The summit also provides a platform for networking and partnership opportunities between the Bank and the fintech community.

View image on Twitter

The event featured a two-day fintech hackathon with limelight in Artificial Intelligence and Big Data for voice banking, mobile check validation and other methods of financial fraud prevention which could be implemented by First Bank. Finalists totaling 10 were selected from the competition to showcase their technological and AI solutions during the summit.

After the many presentations, three teams who showcased innovations deemed to be the most impressive and helpful in combating challenges facing the financial industry through AI and Big Data leveraging were selected as winners. The teams that held the centerstage include Team Cash Flow, who emerged first position, Team Ace as the first runner-up and Team CyberSmart in third place. The teams bagged home cash prizes of NGN 3 Mn, NGN 2.5 Mn, and NGN 750 K respectively.

First Bank Fintech Summit 2.0 was graced by key stakeholders in the Nigerian fintech sector, names such as Khadija Abu, Product Partnerships Lead, Paystack; Akin Banuso, Country General Manager, Microsoft; Olayinka David-West, Academic Director, Lagos Business School, Pan African University and Adia Sowho, Managing Director, Mines Nigeria. These guests formed the panel for the event, speaking on the theme aforementioned.

5 Facebook Ads Tips for E-commerce Stores

As an E-commerce business owner, you need to master your digital marketing in order to make more sales and reach more people within your target audience group.

One of the important types of Ads are sponsored Ads. With Facebook Ads, you get the opportunity of specifying who and who sees your ads, their location, interests, etc.

Facebook Ads don’t just get your products in front of a wider audience, they also get it in front of the right audience for your brand. As an e-commerce business owner, you need high relevant traffic to your e-commerce website, more loyal customers, leads, and so on.

Credit: Giphy.com

 

Here are 5 Facebook Ad Tips for E-commerce Stores:

  1. Have a goal in mind: Don’t create any advert without first identifying your goals for the advert. Sometimes your goal may be to get more traffic to your website, build your email list, get more profile visits, get more sales, etc.
  2. Boost an existing popular post: Take a look at some of your existing posts and look at the ones that have the most engagements. This would give you an indication of what your audience loves and what they want more of, and most importantly, you know that the post works already. And so, boosting that kind of posts will get the posts seen by more people beyond your current reach. These kinds of posts would get more engagements.
  3. Use videos: Videos are much more interactive than pictures or texts. Invest in creating quality videos that would show the personality of your brand, sell your brand story, show your product in action, generate leads, and eventually lead people to purchase. Videos are also shareable and even promoting them via Facebook Ads can have a lot of huge impacts.
  4. Create an offer: We all love interesting and irresistible offers. You can create an offer around Facebook Ads so as to get more people to engage with the Ads. For instance, you can create a free E-book for people and what they would probably do to get the E-book is by subscribing to your email list or signing up for the offer.
  5. Leverage retargeting: Facebook now gives you the opportunity to target those who have once visited your website. It is a wise move because this shows that they are actually interested in what you have to offer.

Do you have more Facebook Ads tips for us? Do drop your comments below.

The African E-commerce Saga: Chapter Nigeria

Andrew Christian October 19

The advent of internet technology globally has brought about a rapid improvement in virtually of spheres of existence. In economic, social and cultural areas among others, the internet never stops having its impact on different nations of the world, communities, institutions and even the individual. As of today, we are in the constant embrace of leveled-up ideas such as e-governance, e-learning, e-hailing, e-banking and quite suitably, e-commerce.

The web is bringing with it time and again new, exciting opportunities particularly in the aspect of the industrial innovation. Electronic commerce is one of such real-time opportunities that are changing the way people buy and sell, everywhere. While the channel has proven to be a vibrant reservoir of economic upheaval in first world countries in Asia, Europe, and the Americas since the turn of the 21st century, e-commerce is as well witnessing some quick-as-a-wink growth in Nigeria and some other African countries such as South Africa, Egypt, and Kenya.

E-commerce has very well had its impact on Micro, Small and Medium Scale Enterprises (MSMEs) towards the fronts of job creation and wealth generation. With the fact that a robust legal frame of reference is vital to the right-on-track running of any vibrant and secure e-commerce system, policymakers in Nigeria are being compelled to harness relevant information to grow the nations’ economy. Millennials and hopefuls believe that with hard work and consistency, the country would be put on the world map of e-commerce revolution in a matter of five years or less.

The e-market space is a major part of the today Nigeria economy. As MSMEs are an engine of economic growth and development, making markets more competitive and resilient, they are directly and indirectly impacted on by e-commerce. Countries such as U.S, Japan, India, Brazil and China, small businesses have been a source of jobs for the teeming population. The success stories have not only been the spirit entrepreneurship but the support of technology inclusively. With the immense value information technology is creating, the economic potentials of Nigerian MSMEs can be tremendous. E-payment solution companies such as MasterCard, Visa, Interswitch, Verve, and significant others springing up in Nigeria, e-business has been so great a boost. These payment solutions are vamping up their services in a bid to meet up with the ever-growing demand of ease, safety, and speed as it concerns buying and selling online. As a result, small businesses can experience seamless transaction with each other and other bigger businesses in the space, ultimately leading to their growth and equally to the betterment of the Nigerian economy.

As of 2014, e-commerce in Africa was growing at a rate of 25.8 percent. In a headlock against the rest of the world’s 16.8 percent, the then growth rate was enough reason to make the continent the fastest-growing e-commerce market in the world; not to talk of now that the stakes are higher. Emerging e-commerce has brought about restyling to the traditional method of shopping, as buying and selling goods and services can now be done online anywhere and anytime. Goods are being delivered with either in-house or partner courier services providers, but virtual products such as eBooks, videos, audios, and templates are being delivered electronically – at affordable and competitive prices compares to offline deals.

In a 2014 report by Business Day, it was revealed that the current market opportunity for e-commerce in Nigeria was over USD 151 Mn annually, with a rapid growth percentage of 25 each year. But it has not also been so good because just a decade ago, an e-commerce-based model of a business plan would so quickly have been laughed off and given the heave-ho, as it would have come off as a bad investment. But times have changed, and they never stop doing so – e-commerce in Nigeria is fast becoming the next big thing. More and more Nigerians are subsuming the medium as their preferred platform for purchase and selling – 60 million Nigerians enjoy internet access (2014) and nearly 100 million as of now – thanks to the rapid growth of telecommunications, and with that figure, nothing is stopping the e-market from becoming larger. The country has a predominantly youthful population to add, along with the near 100 million connected Nigerians representing more than 40 percent of Nigeria’s 197 million people. Facts have it that way over 300,000 online orders are made every 24 hours in the country – a promising figure to say the least and an indication that e-platforms are on the rise with business, tech, and leisure.

E-commerce has also contributed to Nigeria’s economic growth and development. Firstly, the medium is creating jobs for the country’s more than 30 million unemployed youths, in line with a report from the National Bureau of Statistics (NBS) – irrespective of the fact that the actual jobs availed from 2012 to 2014 are just over 12,000. The ICT industry contributed to a 10.44 percent part of the 2013 Nigeria GDP, as well as significant strides in other sectors. Should more and more Nigerians have access to the internet, it would bring about a massive impact on the e-market. The Minister for Communications Technology, observing the USD 12 Bn generated from e-sales about three years ago, online consumption could be worth USD 154 Bn by 2025. It was to no one ’s surprise when the same Minister recently said that e-commerce market in Nigeria has a potential worth of USD 10 Bn since the sector has already attracted about USD 200 Mn in foreign investments.

Also, critical players in Nigerian e-commerce such as Jumia, Konga, and Payporte are now selling goods on a large scale, SMEs no longer have to go overseas to purchase merchandise for business. This brings about a steady and easier-than-usual flow of market stock, as well as an increase in the country’s GDP. What is needed at this point is that the laws need to be tailored to form a robust and legal framework for a vibrant and secure e-commerce system. More proactive provisions need to be put in place for e-entrepreneurs to have a fighting chance, scale up and even internationalize. Cybercrimes need to be checked, shoppers’ privacy needs to be legally protected, and more gateways need to be flung open to accommodate as many e-commerce enterprises as possible.

According to a report by Jumia, Nigeria’s e-commerce could be worth USD 13 Bn this year. Nigeria’s most recent figure of the subscribing population is 162 million – that is 84 percent of the country’s populace. The statistics are impressive, as it drives a huge chunk of e-commerce transactions, and it seems investors are falling over each other to get a slice of the cake. Bright lights are coming up on the horizons as Konga and Yudala have merged, making analysts hopeful that Nigerian e-commerce is not going back on becoming a gamechanger. The world is no doubt swinging in the direction of tech-enabled serviceability and order-from-a-distance transactions. Nigeria will go with the wind, even if not as fast, but at its own checkered pace.

Kennie-O Cold Chain Logistics Wins USD 15 K In SUN- Pitch Nutrition Competition

Kevin Gachiri October 19

Ope Olanrewaju of Kenni-O Cold Chain Logistics from Nigeria won the  USD 15 K grand prize of The SUN Business Challenge at the Nutrition Africa Investor Forum in Nairobi showcasing entrepreneurial opportunities in Africa in the Agribusiness and Food sector. The Scaling Up Nutrition Pitch Competition saw 21 finalists compete after having been shortlisted from a pool of  450 entries from different African countries. The Global Alliance organised this forum – the first of its kind – that links up investors with nutrition-focused SMEs for Improved Nutrition (GAIN), Royal DSM , The Sun Business Network and African Magazine. At the sidelines of the same two-day event, Nutrition Dealrooms comprising part of GAIN’s pipeline of companies improving access to nutritious food attracted the interest of investors taking part in 130 deal room discussions involving 20 investors and more than 20 companies with $82m worth of investment being contested for various opportunities in the sector.

While opening the forum Fokko Wientjes, Vice-President of Nutrition in Emerging Markets, Royal DSM observed that  “The panelists had an extremely challenging afternoon choosing from 21 extremely good candidates from different parts of Africa. What we have seen is the critical role of innovation and scaling for SMEs in the food industry which proves that this conference is necessary and meeting a need.” According to its website, Kennie-O Cold Chain Logistics provides value-added services that include cold storage and distribution, provision of Reefer equipment, party services as well as the provision of Intermodal and State transportation. The company was founded in 2014 and was selected based on nutrition impact, commercial viability, scalability and the use of innovation.

Other reported winners were August Secrets from Nigeria who won the Graca Machel Award, Healthy Maishaa from Tanzania who took the BoP Inc Award, Kulamawe Poultry Industries from Kenya who took the GrowthAfrica award and Miruku Agro Industria from Mozambique who took the DSM Innovation Award.

 

This development first appeared on cnbcafrica.com

Feature image source: African Business Magazine

 

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