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Lessons From How Ghanaian eHealth Startup, mPharma, Is Conquering Older Incumbents In Africa

April 21, 2021

April 2019. Gregory Johnson, the co-founder of mPharma, a startup that runs inventory management for healthcare practitioners, was at one of the highest peaks of his life. An important deal was about to be sealed in Kenya with Haltons Pharmacy, just six years after he ditched the last lap of a series of employee interviews with the global tech giant, Google.

A major trail blazer, the deal is one of the very rare occasions when a six year-old startup would be swallowing a major pharmacy chain, Kenya’s second largest to be precise.

It didn’t last up to two more years before Rockson returned to Ethiopia, Africa’s second-largest country by population size and a country he had visited four years ago in 2018, again, to seal a follow-up, backed by a humongous $17m in funding raised at the peak of the coronavirus pandemic a year before in 2020.

mPharma lessons Gregory Johnson — *Gregory Johnson is the CEO and co-founder of mPharma*

Ethiopia’s deal was easy but symbolic in many ways. It was easy because the coast had been cleared and insights gleaned from Haltons’ success in Kenya. In fact, Rockson’s mPharma noted that since the acquisition of Haltons, the number of Haltons’ pharmacy outlets in Kenya had increased from 20 to 30, a figure more telling when it is remembered that before mPharma’s acquisition, the Kenyan pharmacy chain had sliced the number from 50 to 20 as a result of poor financial standing.

The symbolism in mPharma’s Ethiopian inroad stems from the fact that in a notoriously closed economy, a smart strategist must find a wide gaping hole in the legal system to wing on. And so, Belayab Pharmaceuticals, a subsidiary of Belayab Group, one of Ethiopia’s biggest and most diversified conglomerates, presented a partnership opportunity for mPharma to hammer a bolder franchising presence in the country.

But perhaps what is even more surprising is that mPharma meanders through Africa acquiring, partnering and launching out new products with relatively meagre funding.

Doctolib in France, comparably, has a war chest of $267m in equity funding. mPharma has less than $50m, to-date. And even more surprising is the fact that with Ethiopia’s latest addition, mPharma is now present in eight African countries, of Zambia, Zimbabwe and Rwanda (via the Kumera pharmacy retail chain), Nigeria (via GoodHealth pharmacy chain) as well as Kenya, Cote d’ivoire, and of course Ghana, its home country.

While the seven year-old company continues its high-growth explosion on the continent, a few insights may be gleaned from its journey so far.

mPharma lessons — *Tracking the major activities of mPharma and the lessons to be learned by startups*

Replicating The Franchise Model In A Sector As Closed And Unpenetrated As Healthcare

Perhaps, mPharma’s most notable signature model is not its vendor-managed inventory of prescription (although it is part of the entire story) but its retail pharmacy operations, most notably done through the QualityRx franchise model.

Launched in November, 2018, QualityRx (which goes by GoodHealth in Nigeria) has single-handedly ensured that the startup has been on a rollercoaster ride of international expansions.

The QualityRx franchise model, which repeats similar features seen with co-operative retailers in the US and Europe, employs common branding, inventory systems and collective purchasing for all pharmacies enlisted in the QualityRx franchise chain.

To tell a better story of how the QualityRx franchise model works: in 1996, Mr. Amankwah founded Fresh Spring Chemists in Tema, Ghana. It used to be Tema’s largest pharmacy, but it went through a difficult time in which it lost business to new pharmacies. Mr. Amankwah was on the brink of shutting his pharmacy when he learned of mPharma’s new QualityRx programme for neighbourhood pharmacies. Fresh Spring was refurbished and restocked at no expense to Mr. Amankwah thanks to QualityRx. As a result, Fresh Spring is now regaining all of its lost clients and supplying them with decent service.

From a more complex and profit-making perspective, mPharma takes over inventory procurement of retail pharmacy and hospital chains within its franchise using its supply-chain software while remotely running pharmacy operations using proprietary technology infrastructure.

The software generates data that is then used to forecast demand. Because it owns a large network of hospitals and pharmacies, the information helps it negotiate lower prices with suppliers (distributors and manufacturers).

Aside from that, mPharma provides medications on consignment to all of its franchised clinics. As a result, income is determined from direct prescription purchases to customers rather than what is sold to hospitals on a regular basis. Because it differs from the traditional “pay-for-supplies” model offered by distributors, this creates a disruptive business model for hospitals and pharmacies.

mPharma makes money by charging a fee on the medications it buys. It also sees an opportunity to benefit from the selling of its data on drug use.

This explains why the startup was on an acquisition expedition in Kenya recently, and why it launched out the Haltons Brand in Ethiopia. Ownership of its own pharmacies will give it a bigger shot at profitability. To show the extent of the profit it could make if it runs its own pharmacy chain, Kenya’s Haltons, for instance, raked in $1.5 million in revenue in 2018, alone.

“We’ve not always been able to control the customer experience and fully address the issue of drug affordability with our pharmacy clients particularly because they manage their profit margins,” says Greg Rockson.

“Through our QualityRx service, we’re starting to invest in improving the customer experience and pricing that patients get from pharmacies. Haltons will serve as a testing ground for us to develop patient-centered services we can provide to our franchise pharmacies. This way we can encourage lower margins and pass the savings on to the customers.”

Raising Enough Funds At The Beginning, Then Raising Only Strategically When There Is Need For It And It Has Become Relatively Easier To Raise

mPharma seems also to be strategic with its funding, only raising on major acquisition, partnership or expansion needs. For instance, the $9.7 million Series B round it raised in January, 2019 from investors such 4DX Ventures, an Accra/San Francisco venture capital firm, and Nairobi-based Novastar Ventures, was used for the acquisition of Kenya’s Haltons later in April that year. And although, Rockson described its $17m fundraising in May, 2020 as “opportunistic”, the startup had already drawn out detailed plans on how to launch operations in Ethiopia, launching there only in March this year, immediately countries began announcing extensive Covid-19 vaccination programmes.

It could be argued that while mPharma spent its earlier fundraising of $6.6 million raised in Nov, 2017 and a seed round of $5 million raised in 2015 on building out and scaling in Ghana, Rwanda, Zambia and Zimbabwe, its subsequent fundraising had been driven by expansion or partnership plans.

Courting In Strategic Investors After Series B Round

Another interesting insight into mPharma’s funding activity is that while its earlier investors had stemmed from the need to just bring in investors, its subsequent fundraising tilted towards strategic investors. For example, although the startup had settled for investors such as 4DX Ventures, Gold Palm Investments, Breyer Capital, Olive Tree Ventures, Social Capital, The Skoll Foundation, etc. for its earlier fundraising, its subsequent fundraising, especially its last funding in May 2020 had seen it bring in key industry leaders such as the CDC Group (the UK’s development finance arm); ex-chief executive of Novartis, Silicon Valley investor Jim Breyer; and Dompe Holdings, the family office of the Italian pharmaceutical giant.

Predictably, the strategic investors may play huge roles towards the startup’s exit.

Filling The Company’s Board With Influence, Experience And Leadership, And Then Using Those To Its Advantage

mPharma has also been strategic about who it brings onto its board. Last year, when it raised its $17m, it announced the appointment to its board of Helena Foulkes, former president of CVS, the largest pharmacy retail chain in the United States. The appointment to the board added to existing board members such as early Facebook investor Jim Breyer.

Disrupting The Supply Chain Is Key In An Industry As Secretive As Healthcare

Perhaps mPharma’s biggest industry is participating in each of the levels of African healthcare supply chain. Even Rockson was quick to admit that his startup would have been long dead if they had not pivoted to different products targeting the entire healthcare industry.

“We processed almost 6000 prescriptions in our database in the past three months,” Rockson said in an interview with Eva Nean of Startupbrics. “But our mission is much more complicated than just giving software. We invest in the hospitals we select. We realized that if we wanted to bring onboard health facilities we had to go beyond just thinking about software; we had to look at the whole ecosystem. So we connect hospitals and pharmacies to our network and we bundle connectivity, device and the application as a service.”

Its sudden orientation towards a more comprehensive coverage of the entire African startup ecosystem led it to launch its famous QualityRx franchise model in 2019. It also launched a pharmacy management software called Bloom (as AWS is to Amazon). The Bloom technology creates an operating system that can enable the startup to transform community pharmacies into primary healthcare providers. It also now allows shop owners to monitor daily revenues and keep track of inventory.

*The Bloom allows you, for instance, to monitor the popularity of goods through different facilities over time. Source: mPharma*

“We want QualityRx to represent the best pharmacy in the neighbourhood. To do this, we are challenging what it means to be a pharmacy by enabling QualityRx members to proactively provide basic healthcare services in their neighbourhoods,” Rockson noted in a Medium article he wrote at the launch of QualityRx.

The QualityRx model also goes by the name GoodHealth Shops in Nigeria where it is funded by the Bill and Melinda Gates Foundation. The GoodHealth Shops pilot scheme, launched in 2019, hoped to expand mPharma’s QualityRx model to 20 Patent and Proprietary Medicine Vendors (PPMVs) in Lagos, Nigeria. The model had been largely successful as indicated, partly in the diagram below.

*The GoodHealth Shops, a type of the QualityRx model, helped fastrack major improvements in foot traffic and revenues for participants. Source: mPharma*

“I have opened my shop for over 30 years, but only a few people in my area patronize me. My business wasn’t growing and there were days when I didn’t make any sales at all. Partnering with mPharma changed everything for me. I became more popular, and a lot of people now patronize me’’ —said Bolanle, a Patent and Proprietary Medicine Vendor (PPMV) based in Lagos, Nigeria.

Apart from enlisting retail pharmacies, mPharma sought a way to significantly alter the customer experience previously available in the healthcare industry.

To that effect, it launched Mutti, a health membership programme. Mutti members receive discounts on their medications as well as funding options to assist with healthcare expenses. Mutti is particularly beneficial to uninsured patients who pay for their medications out of pocket and therefore bear the brunt of high drug prices. For every pharmacy chain mPharma maintains, it attaches the Mutti brand to it.

“The significant revenue growth at the GoodHealth Shops have been driven by Mutti members who account for 65% of total sales,” noted Weiwei Bi — Country Lead, QualityRx Retail (Franchising) at mPharma.

*Mutti membership is positively associated with basket value and purchase frequency, according to mPharma’s data, and has risen over time. Source: mPharma.*

The success of the QualityRx franchise model has been phenomenal for mPharma, and with the launch of its own retail pharmacy chains — either by acquisitions (Kenya’s Haltons) or otherwise (Zambia and Rwanda’s Kumera and Ethiopia’s Haltons) — the startup now looks fully set to conquer its last territories in the African healthcare industry.

Finally, mPharma’s entire coverage of the healthcare industry may not be complete if it does not include hospitals in its chain of focus. Through its mClinic, doctors prescribe medication and send a prescription code to a pharmacy and the patient’s mobile phone. Once a patient is registered in the system, their doctor can easily access their information and prescription history. Doctors may also view stock details for all of the partner pharmacies, allowing them to avoid sending patients to pharmacies where medications are not accessible. Lastly, mPharma’s messaging system allows doctors and pharmacists to communicate directly.

mPharma lessons mPharma lessons mPharma lessons mPharma lessons mPharma lessons mPharma lessons mPharma lessons mPharma lessons

How The Coronavirus Has Revealed The Need For More Venture Capital Funding For African Healthcare Startups

Charles Rapulu Udoh

Charles Rapulu Udoh is a Lagos-based lawyer who has advised startups across Africa on issues such as startup funding (Venture Capital, Debt financing, private equity, angel investing etc), taxation, strategies, etc. He also has special focus on the protection of business or brands’ intellectual property rights ( such as trademark, patent or design) across Africa and other foreign jurisdictions.
He is well versed on issues of ESG (sustainability), media and entertainment law, corporate finance and governance.
He is also an award-winning writer

South African Airways Gets New CEO As Turnaround Continues

April 20, 2021

Thomas Kgokolo, new CEO, South African Airways

South African Airways (SAA) is continuing to get back on its feet to once again become a functioning airline. As part of this saga, currently within a drawn-out business rescue process, SAA will be getting new leadership in the form of an interim CEO named Thomas Kgokolo. This will make him the airline’s fifth CEO in five years.

The April 13th appointment of Thomas Kgokolo as SAA’s interim CEO makes him the carrier’s fifth CEO within five years. Kgokolo is a certified chartered accountant, having built up a career for himself in the public sector. Education-wise, Kgokolo holds a master’s of business administration degree from the Gordon Institute of Business Science (GIBS). Kgokolo has also been a lecturer in corporate finance at GIBS.

South Africa’s Eye Witness News notes that Kgokolo holds 15 years of public sector experience and more than 10 years of experience at a non-executive director level.

Kgokolo fills a vacant position, made empty when Philip Saunders left the airline in December 2020. Saunders had taken over from Zukisa Ramasia, who resigned in March 2020. Ramasia had held the interim CEO position since 2019, after the resignation of Vuyani Jarana.

Since SAA entered into its current business rescue process almost 16 months ago, the embattled airline has had three CEOs. At this point, there is no firm timeline for when the airline will be operating once again.

In his new role, Mr. Kgokolo’s main task will be to ‘hold down the fort’ and oversee a smooth transition out of the airline’s business rescue proceedings. Kgokolo will have to prepare the airline for re-entry into the market, which will include making peace with SAA pilots, who have been threatening to strike due to a four-month-long lockout and unpaid wages.

Eye Witness News adds that Kgokolo will reportedly bring some fresh and insightful perspectives on how to deliver value for the airline. Providing leadership and strategic direction to employees and stakeholders is also reportedly a strong point for the new CEO.

SAA’s fleet has diminished over the past few years, with lease aircraft going back to lessors. This includes Airbus A350s and A330s. There has yet to be a firm date on SAA’s restart. Its website notes that domestic and regional flights will remain canceled up to, and including, June 30th, 2021, as per a statement issued on March 29th. For now, bookings for July 1st and onwards will “remain in place for now,” with the airline adding that “the cancellations pertain to the ongoing business rescue process and travel restrictions with respect to COVID19.”

Meanwhile, a mid-February posting states that international flights will remain canceled up to, and including, October 30th, 2021.

Kelechi Deca

Kelechi Deca has over two decades of media experience, he has traveled to over 77 countries reporting on multilateral development institutions, international business, trade, travels, culture, and diplomacy. He is also a petrol head with in-depth knowledge of automobiles and the auto industry

Why Uber and Bolt Drivers in Lagos Embarked on Strike

Drivers of two of the leading ride-hailing platforms in Lagos Uber and Bolt, have commenced a strike action to demand for better remunerations and working conditions. The drivers, under the umbrella of the Professional E-hailing Drivers and Partners Association (PEDPA), downed tools today to force the two biggest players in Nigeria’s ride-hailing industry that have competed since their entrance into the Nigerian market in 2014 and 2016 respectively to redress the working conditions.

One of the ways they have competed is with pricing, with each operator giving promos and lowering fares to try to win over new customers. Yet, over the years, there have been claims that the pricing wars came at the expense of drivers.

Now Uber and Bolt drivers in Nigeria want the pricing to be reviewed because the prices are no longer reflective of the costs they put in. They also want both companies to reduce the commission charged on rides from 25% to 10%. PEDPA says that it has written letters to Uber and Bolt about their concerns but has received no response. To press home their demands, the drivers will begin a one-week warning strike today with hopes that both companies will come to the table.

According to Idris Shonuga, the National President of PEDPA, an association that was formed in 2019 and affiliated with the Trade Union Congress (TUC) of Nigeria, “what they (Uber and Bolt) do is deploy an app which facilitates links with riders and they charge a commission. We bear the running costs of fuelling the car and take all the associated risk of managing and running our vehicles.”

“Unfortunately, they fail to give us a say, they keep fixing the price ridiculously low and we’re selling below the cost price.”

Shonuga argues that it has become almost impossible for e-hailing drivers to make a living driving for Bolt or Uber because while inflation is driving prices upward, the cost of the service has remained static.

“You’re seeing several accidents on Lagos roads because drivers are overworking themselves to make very little money; this is systemic slavery of Nigerian youth, many of who are driving because of unemployment.”

According to Shonuga’s analogy, for Uber and Bolt drivers to make ₦15,000 ($36) in revenue daily, they have to spend a minimum of 10 hours on Lagos roads. Shonuga also estimates that ₦4,950 ($12) will be used to fuel their cars and then Uber or Bolt will charge ₦3,750 ($9.10) in fees. After 10-15 hours of work, drivers may be left with around ₦6,300 ($15.29), which at the lowest end is ₦630 ($1.53) for every hour they work.

But it gets worse when you consider that many of the drivers on these platforms get the cars they use through hire-purchase agreements that require them to pay ₦20,000 – ₦30,000 ($48.55 – $72.82) per week.

The drivers say these conditions are unfavourable and want ride-hailing companies to give them a seat at the table in making decisions on pricing. They also want these companies to reduce the commission on rides to 10%.

Responding to the claims, the Country Manager for Bolt, Femi Akin-Laguda said that Bolt is constantly evaluating our operations to ensure we continue to provide the best earnings for drivers on the platform even as we still remain the most preferred platform for passengers.

Therefore, our commitment remains to treat drivers on the platform with respect, keeping an open-door policy for feedback to be provided. Also, we have various communication and support channels that are always available for drivers on the platform to reach us at any time, any day, and for any issue that may affect their operations.”

Uber on the other hand noted that they are “aware of a protest taking place today by a small group of e-hailing drivers, resulting in slightly longer waiting times for riders. We respect driver-partners as valuable partners with a voice and a choice and we want them to know that we are always open to their feedback.”

“It’s however important to note that diver-partners are diverse in how they use the Uber app and it would be difficult for an individual or group to holistically represent every driver on the app.”

Away from fees, another important demand PEDPA has is for drivers who have been blocked by both platforms to be unblocked.

“You’re expected to provide 5-star service on every trip and even if you have over 1000 trips with 5-star ratings, if you get reported for anything at all, you get blocked from the platform.”

Shonuga believes that this approach is unfair and that while bad actors should be punished, the companies should take a nuanced approach in dealing with these issues.

Kelechi Deca

Kelechi Deca has over two decades of media experience, he has traveled to over 77 countries reporting on multilateral development institutions, international business, trade, travels, culture, and diplomacy. He is also a petrol head with in-depth knowledge of automobiles and the auto industry

How to Stop Your Smartphone From Spying on You

Recently, there has been a spike in the number of complaints by many people on how products they discussed offline or off-phones with friends start appearing on their timelines. Or how products they searched on Google search engine starts flooding advertorials of the product or similar products through their phones or other devices. This is the new level in mega spying by secret apps installed in devices by manufacturers of software and those of the devices.

Security experts have warned users to be careful what they discuss around their smartphones because the virtual assistant is likely listening. According to a study by NordVPN, there was a five percent increase in the number of monitoring apps installed on user’s devices last year. However, some users still suspect that their smartphones are spying on them even if they don’t have any monitoring apps installed on their devices.

This is actually true as virtual assistants such as Siri, Google Assistant and Alexa listen to smartphone users all the time. This is because they need to constantly listen in order to be able to hear voice commands and assist users.

However, some of the things people say around their smartphones are being recorded for a company’s own benefit such as improving the quality of their services or for marketing purposes.

Digital privacy expert at NordVPN, Daniel Markuson explained how virtual assistants function in a similar way to search engines in a press release, saying:

“When you ask Google Assistant or Siri to find something, this information is used for online advertising. It’s no different from typing something into Google Search. If you’re looking for car dealerships in your city, related ads will start chasing you across the internet. In a way, a virtual assistant is just another search engine.”

How to test if your smartphone is spying on you

According to NordVPN, the best way to test to see if your smartphone is helping marketers target you online is by setting a trap.

To do so, you’ll need to select a topic that can’t be associated with your personality and involves something you would never normally discuss. From here you’ll need to keep this topic in your head and avoid using your phone or other devices to search for information on it. Next you’ll have to come up with a list of keywords that could trigger search engines and talk out loud about the topic by yourself or with friends.

Now that the trap has been set, you will soon be able to see if any new ads have started targeting you on social media or on the sites you frequently visit online.

To avoid unwanted tracking by your smartphone and virtual assistants, users need to review their app permissions and turn off their device’s audio recording and video recording features and that of installed apps. As a final step, you can install a VPN on your smartphone to further protect your online privacy.

Kelechi Deca

Kelechi Deca has over two decades of media experience, he has traveled to over 77 countries reporting on multilateral development institutions, international business, trade, travels, culture, and diplomacy. He is also a petrol head with in-depth knowledge of automobiles and the auto industry

The Five Institutional Funds Invested in Bitcoin by Late 2020

We saw the astronomical comeback of bitcoin last year, with a lot of people rushing to buy bitcoin. Throughout the first six months of 2020, bitcoin sold under $5,009, however, its price went over $20,000 by the end of the year. It is thought that the growth in institutional funds invested in Bitcoin was the major reason for the increase in the price of bitcoin and the bullish run it experienced.

This is because digital assets are fast becoming a class asset. Due to the increased gains of bitcoin and its capacity to hedge against inflation, there is a growth in the number of institutional funds being invested in bitcoin. Also, bitcoin is simple to buy and sell via p2p platforms and easy to make micro remittances.

Notable investments in Bitcoin last year include; Skybridge, Grayscale, Square, MicroStrategy, Coin Shares etc.

Grayscale:

This firm is one of the institutions that invested so much in Bitcoin last year. It is not shocking that it has a very high interest in Bitcoin, seeing that it is an asset management firm, providing digital asset exposure to a lot of firms. With over $7.4 billion institutional funds invested in bitcoin being managed by Grayscale BTC Trust, the company owns more than 2% of the complete supply of BTC.

Microstrategy:

This business analytics firm made an investment of about $1.12 billion in BTC last year. This firm initially showed interest in BTC around August 2020. Interestingly, by the end of 2020, the firm had gotten more than 70,470 BTC, valued at over $2.2 billion. This is because the business analytics firm thinks that having BTC is a better long term investment with lots of advantages than saving cash and they decided to buy bitcoin.

Square:

Square Inc. a publicly registered monetary and merchant services firm is one of the notable firms with immense investments in bitcoin.

In October last year, the firm bought about 4709 Bitcoin valued at $50 million. Presently, this number of bitcoin is valued at about $160 million, indicating approximately one per cent of its total circulation.

SkyBridge Capital:

This firm made an investment of about $182 million in BTC. Consequently, it prefers to buy bitcoin since it is seamless to move. Another reason why Skybridge Capital prefers Bitcoin is the fact that it is cheaper to store when compared to gold. Overall, it believes that traders and investors who wish to deviate from traditional assets such as shares and bonds should rather invest in cryptocurrency and buy bitcoin.

CoinShares:

Coin Shares is an asset management firm that provides major exposure to digital assets via its portfolio. It possesses two trading products, BTC Tracker Euro and BTC Tracker One, which monitors how bitcoin is performing. Traders can get either of these two products at NASDAQ.

Based on Rooke Kevin’s analysis, as of September last year, CoinShares held 65,800 Bitcoin. Hence, the firm holds approximately 0.4% of the present available supply of BTC.

What To Expect in 2021

Many people now want to buy bitcoin due to the massive growth it has experienced in the last one year. The value of BTC has increased by 300% in the last one year due to public adoption and institutional interest.

Many South African firms are now interested in Bitcoin and ready to invest massively in Bitcoin. Presently, the value of BTC is around $60,000 and it will be fascinating to see the reactions of investors and the value trend of Bitcoin this year.

The bullish run being experienced by bitcoin might be maintained, particularly in the 2nd quarter of 2021. One of the major reasons for value gain will be general acceptance.

We could experience more general adoption in the months to come. For example, PayPal has permitted its customers to buy bitcoin and sell utilizing their PayPal accounts. Also, several companies are already investing a lot in Bitcoin including South African companies. The current general acceptance could increase the value of bitcoin considerably.

Another thing to expect in 2021 about Bitcoin is increased interests from several institutions. As stated earlier, PayPal announced late last year that it will allow its customers to buy BTC and also sell digital assets. Additionally, South African firms have also expressed interest in Bitcoin and other digital assets.

Due to the increased institutional interest, a bullish run is being predicted for the Bitcoin market, with cryptocurrency analysts calling Bitcoin the 21st-century gold. Analysts are forecasting that the price of Bitcoin might reach over $300,000 by the last quarter of this year.

Regulatory agencies over the years have been trying to regulate cryptocurrencies. Some people are using digital assets for illegitimate activities like money laundering and drug pushing. With the increasing price of digital assets, authorities all over the globe will be scrutinizing the cryptocurrency trade this year.

Regulators might serve as an obstacle as they will try to curb illegal activities relating to Bitcoin, however, this shouldn’t affect BTC’s bullish trade majorly.

Another thing to expect this year is the competition from Central banks and major technology firms. Whilst bitcoin is experiencing an increase in general acceptance, the digital asset could experience competition from other major technology firms. For instance, Facebook cryptocurrency, Libra, could take away some interest from BTC this year even though the digital currency by Facebook isn’t similar to bitcoin.

Also, this year could see BTC facing competition from Central Banks, with many central banks already planning to launch their Central Bank Digital Currency (CBDC). China for instance is working on launching its digital currency. Although in several ways, these digitized currencies being developed by central banks will be significantly unlike BTC. You can join the bandwagon of bitcoin adopters by buying bitcoin from Remitano P2P today.

Kelechi Deca

Kelechi Deca has over two decades of media experience, he has traveled to over 77 countries reporting on multilateral development institutions, international business, trade, travels, culture, and diplomacy. He is also a petrol head with in-depth knowledge of automobiles and the auto industry

Grocery Startup Appetito Raises $450k Seed As Egypt Continues A Sector-Agnostic Run

Again, angel investors continue to descend upon Egyptian startups, no matter their sector. Joining the continuing league of startups to be funded by angels in recent time is Appetito, a Cairo-based grocery startup which has secured a $450K Seed funding round from a group of Saudi Arabian angel investors.

Appetito Founder and CEO Shehab Mokhtar — Appetite

“We’re proud of what we have achieved in just a few months from our launch. We’re privileged to have such prominent investors backing us. With their support and the team we’re building, I’m confident we will be in a leading position in the global race of grocery delivery,” said Appetito Founder and CEO Shehab Mokhtar.

Here Is What You Need To Know

A group of angel investors in this round was led by Ahmed Al Alola, an early-stage investor who was one of the early backers of Nana and Sary, alongside Afropreneurs Fund, an African early-stage technology fund that has previously backed top startups such as Andela, Flutterwave and Trella.

Jedar Capital, an emerging VC focused on early-stage startups in the Middle East, Africa, and Emerging Asia, also participated in the round.

Why The Investors Invested

“Observing the radical change in consumer’s behaviour post-COVID-19, the grocery delivery market is expanding rapidly in the region. I believe Appetito — with its stellar team — is well positioned to lead that segment and capture the market by delivering superior experience compared to what is currently available in most of the African space,” Ahmed Al Alola said.
Read also:Airtel Leaves Ghana, Sells Business To Ghanaian Government

“ Our investment into Appetito’s seed round follows on our proven thesis of investing in strong founders with unique local insights and a bias towards execution. We are excited by what Shehab and his team have achieved so far, and we are very bullish on the Egyptian early-stage ecosystem,” Idris Bello, Managing Partner, Afropreneurs Fund said.

“We are excited to be part of Appetito’s journey in Egypt and MENA region. We have been watching Appetito’s execution and the team’s growth focused approach with very limited resources early on, this was a clear message to us on how resilient and focused they are. Appetito is best suited for growth with the digital transformation happening in Egypt where online commerce growth is skyrocketing and saw a huge leap with covid, more and more customers now are adopting online grocery shopping as their standard now. We believe that Appetito’s model focusing on dark stores rather than aggregating from grocery retail stores will add value and differentiation in the market and play a pivotal role in terms of operational efficiency and gross margin contribution. We look forward to supporting them with their expansion and growth plans in Egypt and beyond,” Sherif Nessim, Founder and Managing Director of Jedar Capital said.

A Look At What The Startup Does

Appetito, which launched in March 2020, uses a dark store model, in which goods are purchased from suppliers, processed in mini fulfillment centers, and then shipped to consumers. The company began with a wide variety of private label goods, delivering to all areas of Cairo, Giza, and Alexandria the next day and on time.

The company recently extended its product range to include over 1000 SKUs from well-known market brands and joined the hyper convenience race by offering customers delivery in under 60 minutes in select areas.

Apetito grocery Apetito grocery

A List Of Over 500 Active Startup Investors In Africa In The Last 5 Years

Charles Rapulu Udoh

Charles Rapulu Udoh is a Lagos-based lawyer who has advised startups across Africa on issues such as startup funding (Venture Capital, Debt financing, private equity, angel investing etc), taxation, strategies, etc. He also has special focus on the protection of business or brands’ intellectual property rights ( such as trademark, patent or design) across Africa and other foreign jurisdictions.
He is well versed on issues of ESG (sustainability), media and entertainment law, corporate finance and governance.
He is also an award-winning writer

Barely 4 Years Old, Tunisian Edtech Startup, GoMyCode, Officially Launches In Senegal, Its 8th Market

Tunisian ed-tech startup, GoMyCode, which recently opened its doors in Paris (France), Algiers (Algeria), Casablanca (Morocco), Cairo (Egypt), Manama (Bahrain), Lagos (Nigeria) and Abidjan (Ivory Coast) has officially settled in Dakar, Senegal, its eight international market.

“After many trips and more than 3 years spent in Tunisia, I had the opportunity to move to Senegal,” says Vincent Leconte, country manager of the startup in Senegal.

“Consequently, I joined GoMyCode in its expansion phase to build the new digital training hub in Dakar. This tremendous opportunity allows me to leave the aeronautics industry where I had my first degree, to return with an over-motivated team and a solid structure for the training of the professions of tomorrow. Thanks to a new unique training model, much more adapted and efficient than the passive learning of the 20th century, GoMyCode can offer an opening and an accessibility to the international world of tech to a youth eager for success in one of the most promising countries in West Africa.”

Here Is What You Need To Know

Last October, GoMyCode announced the raising of $ 850,000 to continue its expansion.

In addition to Tunis, Sousse and Sfax, its new Hackerspaces have opened in Algiers (Algeria), Casablanca (Morocco), Manama (Bahrain), Lagos (Nigeria), Cairo (Egypt), Abidjan (Côte d’Ivoire) and now Dakar.

It’s new Hackerspaces have also opened in Tunisia (ElMenzah V, Nabeul, Gafsa, Gabès, Béja and Tunis center-ville).

GoMyCode also aims to develop its presence in the African and Middle Eastern market, where 42% of professions are strongly impacted by digitization and where 65% of the workforce does not have the necessary digital skills.

By 2030, the report on financing for businesses and startups in Africa (African Venture & Startup Funding Report 2018) estimates that the number of young people in Africa will increase by 42%.

This will represent a real breeding ground for young talents, most of whom are not yet familiar with digital developments.

This market concerns 1.2 billion people, 700 million of whom are under 25 years old.

In the near future, the startup will be present in around fifteen countries in Africa and the Middle East.

“We continue to deliver on our vision of high-level digital education with a unique learning experience that leaves lasting traces and has a positive impact on people’s lives. We will invest heavily in our technology, our team and strengthen our operations,” says Yahya Boulel, CEO of GoMyCode.

Why Senegal?

Located in the westernmost part of Africa, Senegal is one of the most stable today. Having recorded one of the strongest economic growth in Africa, still exceeding 6% between 2014 and 2018, the country is now positioned as one of the largest technological and financial hubs in West Africa.

“42% of current professions will be impacted by this massive digitization,” says Leconte. “This economic positioning attracts young people and offers significant potential in the training and education sector.

In addition, when we know that there are more than 400,000 open positions in Africa in digital professions, that nearly 42% of current professions will be impacted by this massive digitization, and that 61% of the Senegalese population is less than 25 years old, there is therefore no better challenge than launching GoMyCode to make the African youth shine in the digital world of tomorrow.”

A Look At What The Startup Does

Launched in 2017 by Yahya and Amine Bouhlel, GoMyCode wants to be the school of the 21st century providing training in web development, web development, video game development, Artificial Intelligence, Data science, UX Design, or even Business Intelligence intended for everyone despite thier age.

The startup now has more than 80 talents with varied profiles among its employees and a network of more than 100 trainers through the Hackerspaces of Tunisia, Algeria, Morocco, Bahrain, Egypt, Nigeria, Ivory Coast and now Senegal.

GoMyCode aims to become the largest technology and digital community in Africa and the Middle East.

Over the past 3 years, more than 10,000 students have been trained by GoMyCode.

With over 100 employment partners in Europe, Africa and the Arab world, over 85% of the startup’s students have been able to find employment.

GoMyCode Senegal GoMyCode Senegal

The Uncommon Strategy Used By Edtech Startup, GoMyCode, To Expand To Foreign Countries From Tunisia

Charles Rapulu Udoh

Charles Rapulu Udoh is a Lagos-based lawyer who has advised startups across Africa on issues such as startup funding (Venture Capital, Debt financing, private equity, angel investing etc), taxation, strategies, etc. He also has special focus on the protection of business or brands’ intellectual property rights ( such as trademark, patent or design) across Africa and other foreign jurisdictions.
He is well versed on issues of ESG (sustainability), media and entertainment law, corporate finance and governance.
He is also an award-winning writer

Kwik Delivery Launches Prestashop Plugin

April 19, 2021

Kwik Delivery, the leading logistics delivery firm in Nigeria has taken the competition to another level with the launching of its Prestashop Plugin which makes it the most integrated delivery platform with e-commerce frameworks in Africa.

The plugin allows buyers to get real-time shipping rates between merchants’ addresses and the buyers’ delivery addresses. The ‘oars’ are definitely not resting at Kwik Delivery at this time! Just weeks after the release of its plugins for Shopify and Magento, Kwik Delivery announces the release of its plugin for Prestashop. This new plugin is a milestone as Kwik Delivery is now fully integrated with the “Big Four” of e-commerce frameworks: Magento, WooCommerce, Shopify and now Prestashop.

Delivery plugins are a critical technology brick in the growth of African e-commerce by allowing thousands of merchants to offer reliable, secure and efficient last-mile delivery services to their customers. By installing the plugin, businesses no longer need to worry about on-time deliveries after-sales as Kwik handles it for them. Kwik delivers within 2 hours in Lagos and 1 hour in Abuja after pickup and will soon expand its service to new cities.

“These are key milestones for us in enabling growth of e-commerce in Nigeria,” commented Romain POIROT-LELLIG, Founder & CEO of Kwik Delivery. “We are working to ease the logistics hassles faced by both businesses and their customers after-sales. Just providing the network to make this possible is not enough. The added value brought by Kwik Delivery starts from the fulfilment systems of merchants, all the way to the doorsteps of buyers.”

The Prestashop plugin is free and easy to install and use. The plugin allows buyers to get real-time shipping rates between merchants’ addresses and the buyers’ delivery addresses. Buyers can directly place orders to be delivered by Kwik Delivery at the checkout of Prestashop stores.

Since its launch in 2019, Kwik Delivery has introduced the concept of “just-in-time” last-mile deliveries in Nigeria and has pioneered an approach of deep integration with e-commerce frameworks that proves to be indispensable to the growth of Africa’s e-commerce, fostering trade across Africa. Kwik Delivery is the trading name of Africa Delivery Technologies SAS and the mobile app is available on iOS and Android.

Kelechi Deca

Kelechi Deca has over two decades of media experience, he has traveled to over 77 countries reporting on multilateral development institutions, international business, trade, travels, culture, and diplomacy. He is also a petrol head with in-depth knowledge of automobiles and the auto industry

Environmentalists Wrong Approach to East Africa Crude Oil Pipeline (EACOP) in Uganda and Tanzania

NJ Ayuk, Executive Chairman of the African Energy Chamber, CEO of pan-African corporate law conglomerate Centurion Law Group

By NJ Ayuk

If someone were to put me on the spot and ask me to name an environmentalist group, I’d probably blurt out the first thing that comes to mind, Greenpeace. There are obvious reasons for this: Greenpeace has been around for more than 50 years, and it has done a masterful job of bringing environmental concerns to the world’s attention and keeping them there. The group has a strong track record when it comes to advocacy and awareness, and it has a global reach. It’s truly one of the most visible non-governmental organizations (NGOs) in the world.

And that’s why I see it as significant that Greenpeace’s African division has come out swinging for a major new oil pipeline slated for construction in Uganda and Tanzania. Let me explain what I mean.

What’s at Stake

On April 14, Greenpeace issued a statement expressing dismay about the signing of a new agreement on the East Africa Crude Oil Pipeline (EACOP), a midstream project involving Uganda, Tanzania, the French major Total, and China National Offshore Oil Corp. (CNOOC).

The agreement serves to remove one of the final obstacles to the building of the pipeline, which will transport crude oil from fields in western Uganda, near Lake Albert, to a port on the Tanzanian coast. As such, it also clears the way for Total and CNOOC to set a concrete schedule for development of the upstream assets that will fill the line — and for investors to start pumping more than $5 billion into East Africa.

Greenpeace believes that Uganda and Tanzania ought to turn down this foreign direct investment (FDI). They explained their position by pointing out that EACOP poses environmental risks – which are hardly surprising, given their record on all seven continents. But they also argued that there were hard economic and political reasons to ditch the pipeline. Specifically, Greenpeace asserted that the building of the pipeline would have the following negative effects:

It would stymie the development of renewable energy and the creation of so-called green jobs.

It would benefit large multi-national corporations and not local communities.

It would involve Uganda and Tanzania in “neo-colonial projects.”

These are strong words to use, and they deserve a strong — and serious — response from Africans.

I have one: Greenpeace and Western Anti African energy groups, you’re wrong.

Oil vs. Renewables: “Both-And,” Not “Either-Or”

First, you’re wrong to predict that renewables will be crowded out if an oil pipeline is built. That’s not true. EACOP is an export-oriented project, in that it’s designed to pump 216,000 barrels per day (bpd) of oil, or about 83% of peak output from Uganda’s Kingfisher and Tilenga fields, to the Tanzanian coast so that it can be loaded onto tankers and sold on the world market. In other words, most of Uganda’s oil won’t be going to refineries so that it can be processed into fuel for local power plants.

As a result, EACOP won’t help Uganda or Tanzania overcome their domestic energy deficits, which are considerable. These two countries will still need more electricity to support industrialization initiatives and improve citizens’ quality of life after the pipeline is built. They’ll still need power plants — and they should try to meet that need by building solar farms, wind parks, and hydroelectric dams. I happen to think they should also build natural gas-fired thermal power plants (TPPs), which boast lower emissions than facilities that burn petroleum products, but my point is: There’s nothing about building an oil pipeline that takes renewable energy off the table. (In fact, small-scale, locally-oriented renewable facilities may also have the advantage of not being subject to the deficiencies of East Africa’s transmission networks.)

So it’s wrong to describe this as an “either-or” situation, in which a binary choice must be made. It’s a “both-and” situation. Tanzania and Uganda stand to benefit from pursuing both renewables and an oil pipeline. Let’s not stand in their way by framing the matter incorrectly.

Local Impact and Local Content

Second, you’re wrong to conclude that EACOP overlooks the interests of Ugandan and Tanzanian citizens and the communities along the pipeline route.

Yes, Total and other corporations involved stand to benefit from this project. (If they didn’t, they’d never agree to pump billions of dollars into it, and they might have a hard time convincing reputable service providers to sign contracts.) Greenpeace has never invested in any country and has never created a job. Okay they create a few jobs for drivers of the western aid workers in Africa.

But Uganda and Tanzania will benefit, too from Total’s investment. These two countries will earn revenues from oil flows through the pipeline and from oil sales. (Uganda alone may bring in as much as US$2 billion per annum over a period of at least 20 years.) Their governments will collect taxes from the local contractors that see their income rise as a result of their involvement in the project. Their businesses will profit from dealings with Total and CNOOC, which will have to hire local contractors in order to comply with local-content regulations and uphold their own contractual commitments. Their people will reap the rewards of the social welfare and infrastructure development projects these companies plan to carry out. Their societies as a whole will benefit from the construction of new infrastructure facilities such as roads, airports, hotels, and communications networks.

What’s more, ordinary Ugandans and Tanzanians will have a better chance of finding work once Total starts building the pipeline, for this project promises to create jobs — tens of thousands of them, and perhaps more than 100,000 of them overall. Samia Suluhu Hassan, the president of Tanzania, said on April 11 that she expected EACOP to create at least 10,000 jobs.

Mary Goretti Kitutu, the energy minister of Uganda, went into more detail, saying on the same day that she expected around 14,000 men and women to be hired directly by Total and CNOOC. About 57% of these people will be local workers, she added. She also stated that the upstream and midstream projects were likely to create many more jobs indirectly, with contractors to Total and CNOOC hiring around 45,000 people and businesses in other sectors taking on perhaps another 105,000 employees to handle the extra activity arising from oil operations. Facts and truth can be stubborn for those who believe foreign aid, begging and immigration to Europe should be the only way out for African youth.

Of course, these jobs won’t all last forever. Many of them will involve construction or related activities, and these will naturally come to an end once the construction projects are finished. While they exist, though, they will give tens of thousands of Africans the chance to earn larger salaries — and, potentially, gain more experience and obtain more training than they had before and start a sustainable business. As such, they have the potential to improve tens of thousands of lives in Africa — not just by increasing wages, but by creating opportunities for local workers to pick up skills they can still use after the pipeline is finished.

So it’s wrong for Greenpeace and the anti-African energy crowd to say these projects merely pay lip service to local communities. Officials in Uganda and Tanzania have worked hard to ensure that the EACOP project has a far-reaching and positive impact, and they have established new laws and policies to guard their citizens’ interests.

Take Up the NGO’s Burden: Who Are the Real Neo-Colonialists?

Finally, Greenpeace and the western anti-African energy crowd are wrong to describe EACOP as a “neo-colonial” endeavor. Come on this gives Chutzpah a new meaning.

Yes, there are foreign companies involved – Total, based in France, a former colonial power, and CNOOC, a company based in China, a rising power that stands ready to assist less-developed countries, provided that they agree to loan terms that are sometimes predatory. And yes, the largest portion of the EACOP consortium has been assigned to Total, which holds a stake of 72%. (CNOOC, meanwhile, has 8%.) But these foreign companies aren’t working alone. EACOP will also include Uganda National Oil Co. (UNOC), with 15%, and Tanzania Petroleum Development Corp. (TPDC), with 5%.

Take a close look at those numbers Greenpeace. You’ll see that both transit states have an equity stake in the pipeline — and that one of them has a larger stake than Total’s Chinese partner. Let me also point out that even if Total does have the largest stake, it is also serving as operator of the project and will assume most of the risk. As such, it stands to lose much more than UNOC, TPDC, or CNOOC if EACOP fails. That is how free markets work. You can’t love jobs and hate those who create jobs. Let’s face it, we in Africa need more free markets than communism. Free markets are still our best path to prosperity.

Tell me, how exactly is this “neo-colonial” arrangement? Have Uganda and Tanzania really bowed under pressure from powerful external forces, or have they spent years negotiating a deal with two foreign companies that agreed to their conditions?

And speaking of pressure from powerful external forces is Greenpeace’s approach truly free of “neo-colonial” elements? I didn’t know Greenpeace was a Pan Africanist NGO. Is the NGO using its position as one of the world’s most well-known environmental groups to ensure that local environmental advocates have a bigger bully pulpit? Is its opposition to EACOP rooted in the dreams and desires of ordinary Ugandans and Tanzanians, or is it trying to impose a solution from outside, on the basis of the global environmental movement’s pre-existing animus towards fossil fuels?

It’s wrong to use a historically and emotionally loaded word like “neo-colonialism” in this instance. It’s wrong to imply that Tanzania and Uganda have been coerced into working with foreign corporations, and it’s wrong to invoke colonialism in the hope of convincing Africans to listen to a different group of people who think they know best. Let Africans decide for themselves!

Balancing Environmental Risks with Other Crucial Considerations

Listen, I don’t fault Greenpeace for the concerns it expresses about environmental risks. The NGO is not wrong to point out that with pipelines, there will always be the danger of spills, leaks, and damage to surrounding ecosystems and habitats. I hope it continues to advocate fiercely for the African landscapes that Greenpeace mentions, such as the Murchison Falls National Park, which is the largest and oldest nature reserve in Uganda. That advocacy is its mission — and frankly, the business community needs to listen to critics as well as cheerleaders so that it can learn, improve, and give back to host communities. (Government officials must do the same so that they protect their constituents even as they guard revenue streams.)

But Greenpeace is wrong to argue that EACOP is not worth pursuing because it will overshadow renewable energy, because it will ignore the interests of the countries involved, or because it represents some type of neo-colonialism. Instead, it’s overstepping – and in the process of doing so, it’s wasting time that could be spent looking for ways to balance environmental protection with other crucial considerations, such as job markets, entrepreneurship, energy poverty, and budget revenues.

So let’s not waste any more time. Let’s strive towards that balance.

Let’s start now.

NJ Ayuk is the Chairman of the African Energy Chamber

Kelechi Deca

Kelechi Deca has over two decades of media experience, he has traveled to over 77 countries reporting on multilateral development institutions, international business, trade, travels, culture, and diplomacy. He is also a petrol head with in-depth knowledge of automobiles and the auto industry

How Companies Should Deal with the Threat of Cybercrime

Ian Engelbrecht, Africa Lead Systems Engineer at Veeam

By Ian Engelbrecht

Cybercrime is on the rise and South African C-suites would do well to ensure that they have up-to-date and appropriately resourced strategies to deal with its threat. The pandemic showed us that while land and sea borders can be shut, in the digital village this is not possible, and more importantly, in many instances, it is unclear where these attacks originate.

The definition of cybercrime perhaps holds the key to who should take it seriously. Cybercrime is defined as criminal activities that are carried out by means of a computer or the internet. Anyone who uses a computer that is connected to the internet should have a cybercrime strategy in place. No matter where you are in the world, if you let your guard down you are at risk. Everyone needs to be responsible for keeping data safe.

Ageing infrastructure and reduced budgets in South Africa and the rest of the continent make these shores rich hunting grounds for unscrupulous networks of cybercriminals.

These reduced budgets, compounded by economic shocks caused by the pandemic, have in many instances in our experience made it more difficult for Chief Information Security Officers (CISOs) and Information Security managers to fully implement their strategies, leaving weak points in their defence.

However, despite this and the increase in sophisticated cyberattacks, the Veeam Data Protection Report 2021 shows that the top global challenge facing organizations is economic uncertainty, surpassing cyber threats which were the top threat last year. Similarly, the top challenges anticipated by African organizations in the next 12 months is industry disruption (35%), economic uncertainty (32%) and meeting changing customer needs (32%). The threat landscape is continuing to evolve and prioritising a solid cybercrime strategy can never be overemphasised.

One of the fastest-growing trends is phishing emails, where the user is tricked into clicking on a link to a fake login page that shares credentials with the attacker. The problem with these attacks is that the culprits are becoming very good at making the emails appear authentic and as if they come from a legitimate source.

Another growing trend we encounter is ransomware, where a business’s critical data is encrypted and rendered unusable until a ransom is paid, which is when an encryption key is provided. In many cases ransomware attacks are very well coordinated and some target specific entry points using phishing.

To bring this point home, City Power in Johannesburg suffered a high-profile attack with a ransomware virus that impacted most of its IT systems. The ransomware affected their primary website, which is used by citizens to log complaints and purchase prepaid electricity.

It’s not as if these two trends are not well-known, yet the sophistication of these attacks often surprises companies. We have encountered instances where the attackers find security flaws and exploits in perimeter hardware and software before the vendor is even aware or has rolled out global patches or updates.

The pandemic has no doubt compounded matters because of the large uptake of remote working. Home networks can be less secure than those one would typically find in a corporate office if regular security updates and processes are not followed.

This has exponentially increased the attack surface for criminals. Many of these criminals work in networks that are sophisticated, with research arms continually finding new and innovative ways to exploit companies and gain access to sensitive business data.

Everyone is at risk, whether they are in the financial sector or even government – wherever there is data that can be used against them, there is an opportunity for cybercriminals.

Yet, basic data protection needs are unmet with almost three quarters (69%) of African organizations reporting a “protection gap” between how frequently data is backed up versus how much data they can afford to lose after an outage.

Cybercriminals will exploit any weaknesses and one vulnerable entry-point can expose the business to crippling attacks. For example, criminals intercept payments through fake accounting or render duplicate invoices from compromised finance department email addresses, and redirect the money to different bank accounts.

What should companies do?

First, businesses need to recognise that cybersecurity is a business issue, and any downtime is not just an IT problem. According to the Veeam Data Protection Report 2021, over two in five (62%) of African organizations said that a loss of customer confidence was most concerning the potential impact of application downtime. More than half (57%) fear damage to brand integrity and almost one-third (30%) think this could result in a loss of employee confidence.

C-suites should ensure IT departments have the resources required to harden security and to ensure that pen testing is done on a regular basis – this could be as often as monthly, or in some instances once a quarter. The point is that the latest known exploits are being tested against the infrastructure.

Education is vital. Companies should spend time and money continuously educating users on security best practices and processes. These campaigns should make them aware of what to look out for, what to do and what not to do. Simple phishing exploits can be avoided by educating the workforce – but it must stay top of mind and share regular best practice that addresses the latest cybercriminal tactics. A company can have the latest, state-of-the-art perimeter security but it will be worth little if a user within that protected network accidentally opens a door (or an email) that lets criminals in.

Finally, and most importantly, every organisation must have a last line of defence because it is challenging to always be a step ahead of the criminals. Organisations should follow what Veeam calls the 3-2-1 rule: three copies of data, two of which are on separate storage mediums and one is stored offsite. These copies should be agnostic to hardware, software, hypervisor and public-cloud platforms. If your data centre is compromised, you should be able to use these copies and have various options of where to deploy as a temporary measure, to get your business back up and running should the worst happen.

These additional copies must be tested on a regular basis as they, too, are rendered useless if they cannot be restored. The final checkbox with your data copies is to ensure they are encrypted and protected from theft and are immutable in some way that they cannot be compromised or deleted.

It is imperative that organisations prioritise strategies to mitigate and prevent cyberattacks as part of their modern data protection initiatives. As more organisations invest in robust plans of action to defend themselves, it places those that haven’t kept pace at heightened risk as cybercriminals look for new targets.

Ian Engelbrecht is the Africa Lead, Systems Engineer at Veeam

Kelechi Deca

Kelechi Deca has over two decades of media experience, he has traveled to over 77 countries reporting on multilateral development institutions, international business, trade, travels, culture, and diplomacy. He is also a petrol head with in-depth knowledge of automobiles and the auto industry