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Why Mastercard Is Backing MTN Fintech Arm in a $200 Million Deal

February 7, 2024

In a strategic move aimed at fostering financial inclusion in Africa, Mastercard has solidified its commitment to the growth and development of MTN Group Fintech, the fintech arm of telecommunications giant MTN Group. This landmark deal sees Mastercard acquiring a minority stake valued at up to $200 million (approximately R3.8 billion) in MTN Group Fintech, elevating its valuation to an impressive US$5.2 billion on a cash- and debt-free basis.

The collaboration, initially announced in October of last year, is still pending finalization as it navigates through “customary closing conditions.” However, both parties are optimistic about the transformative impact this partnership will have on the financial landscape of the African continent.

MTN, in a statement, emphasized the broader significance of these agreements, stating, “These agreements complement the larger commercial relationship between the group and Mastercard to support the continued development and growth of technology and infrastructure to drive financial inclusion across the African continent.”

At the heart of this collaboration is the recognition of the pivotal role fintech plays in driving financial inclusion. Mastercard’s investment is not only a financial endorsement but also a strategic alignment to support the acceleration of MTN Fintech’s payments and remittance services. This injection of capital is expected to fortify MTN Group Fintech’s position as a key player in the evolving digital financial landscape of Africa.

The $200-million deal signifies Mastercard’s confidence in the potential of MTN Group Fintech and its vision for advancing financial services in the region. The investment will be instrumental in scaling up operations, enhancing technological infrastructure, and expanding the reach of financial services to underserved populations.

While the deal has been announced, it is essential to note that its finalization is subject to customary closing conditions. Regulatory approvals are underway, and stakeholders are eagerly awaiting the green light to commence the next phase of this collaboration.

Looking ahead, MTN expressed its commitment to exploring additional opportunities for value-enhancing partnerships and investments. Subject to market conditions, the company aims to engage with strategic partners and long-term investors, signaling a broader strategy to drive innovation and financial inclusivity in the African fintech space.

The Mastercard investment in MTN Group Fintech represents a pivotal moment in the journey toward financial inclusion in Africa. The $200-million deal underscores not only the financial backing but also the shared vision of both companies to drive technological advancement and accessibility in digital financial services across the continent.

Charles Rapulu Udoh is a Lagos-based lawyer, who has several years of experience working in Africa’s burgeoning tech startup industry. He has closed multi-million dollar deals bordering on venture capital, private equity, intellectual property (trademark, patent or design, etc.), mergers and acquisitions, in countries such as in the Delaware, New York, UK, Singapore, British Virgin Islands, South Africa, Nigeria etc. He’s also a corporate governance and cross-border data privacy and tax expert. As an award-winning writer and researcher, he is passionate about telling the African startup story, and is one of the continent’s pioneers in this regard.

Mastercard Partners with the Ethiopian Minerals Petroleum and Biofuel Corporation

May 8, 2023

Dimitrios Dosis, President of Eastern Europe, Middle East, and Africa, Mastercard

Global card payment company Mastercard has entered into partnership with the Ethiopian Minerals Petroleum and Biofuel Corporation (EMBPC) that includes digitizing the corporation’s mineral e-commerce platform. This forms part of EMPBC’s strategic objectives to provide access to the market, and officially tunnel the available minerals to the international market. Through Mastercard’s innovative Payment Gateway Solutions (MPGS), EMBPC can diversify and expand its offering.

Over and above providing EMPBC with the solutions required to digitize their e-commerce platform, the parties will collaborate on product development and standardization, promotion and marketing, training and capacity development, and technical advisory support.

“The partnership between Mastercard and EMPBC is the first implementation of an e-commerce platform solely focused on minerals in Ethiopia. This is proof of our ongoing commitment to collaborate with governments, providing world-class digital solutions to partners’ in-market, and scaling up our relationship with financial institutions,” says Dimitrios Dosis, President of Eastern Europe, Middle East, and Africa, Mastercard. “Our long-standing partnership with the Ethiopian government brings us one step closer to meeting the goals set in the Digital Ethiopia 2025 strategy.”

In addition to the above, partnerships of this nature create vast opportunities for fintech to participate in in-country e-commerce platform development, of which Eaglelion is the e-commerce platform developer for EMPBC. In an ever-evolving digital landscape, it is important for consumers and corporations alike to be included in the fold and experience the power and benefits of innovation. A digital world means greater accessibility, added safety and security, seamless transactions, as well as convenience, and ease of use for all. This forms part of Mastercard’s commitment to connecting and empowering an inclusive, digital economy that benefits everyone, everywhere. This also supports Mastercard’s global commitment to bring 1 billion people and 50 million micro and small businesses into the digital economy by 2025.

“Despite various factors such as traditional methods of mining, Ethiopia’s present gemstone trade generates an estimated 20 million dollars in annual export transactions. With the digitization of EMPBC’s minerals marketplace, the gemstone sector is expected to triple in less than two years and grow to $500M in five years through the new e-commerce platform,” says Rahel Getachew, CEO of EMPBC.

This partnership is another example of Mastercard’s collaboration with both the public and private sectors to develop national digital and financial inclusion strategies that provide solutions at scale.

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

Mastercard Invests In Egyptian VC Nclude To Fund Egyptian Fintechs

October 12, 2022

Mastercard has announced a strategic investment in Nclude, a fintech focused VC investment platform launched in partnership with Egypt’s leading national banks — Banque Misr, National Bank of Egypt and Banque Du Caire — to further boost Egypt’s vibrant fintech ecosystem and support the country’s digital transformation journey. Through investments in potential early-stage and growth-stage financial technology and financial technology-enabled enterprises, the collaboration will further broaden Egypt’s financial inclusion.

This news expands on Mastercard’s commitment to supporting the government’s initiatives and favourable policies in Egypt, which are both focused at transforming Egypt into a digital society that is financially inclusive by using the power of technology.

“Our contribution to Nclude stems from our longstanding commitment to accelerate the country’s digital transformation, drive financial inclusion rates and to reinforce Egypt’s position as an innovation hub for the fintech industry in the wider region,” said Khalid Elgibali, Division President, Middle East, and North Africa at Mastercard. “We see a new door for opportunity in our collaboration with Nclude fund, where Egyptian fintechs can be offered an enabling environment to achieve their full potential.”

“Mastercard’s global platform and commitment to fintech is a great complement to the Nclude strategy. We are super excited to welcome their global expertise to the entrepreneurial ecosystem in Egypt” said Basil Moftah General Partner at Nclude.” Fintech and fintech enabled companies are witnessing exponential growth in the market and we look forward to partnering with Mastercard to continue to fuel this growth and position Egypt as a Regional center of excellence for fintech innovation.”

Here Is What You Need To Know

Following the Central Bank of Egypt’s (CBE) clearance, Nclude was established in March 2022, and it immediately received an investment of $100 million from each of Egypt’s three national banks, in addition to eFinance and Egyptian Banks Company (EBC). With Mastercard, a pioneer in improving financial inclusion in Egypt and the world, joining in, Nclude Fund is fast becoming a go-to fund for fintechs wanting to grow their operations and services.

Due to Mastercard’s commitment to promoting global financial inclusion, the firm has committed to bringing 1 billion individuals and 50 million micro and small companies, including 25 million women business owners, into the digital economy by the year 2025.

In order to establish Egypt as an Innovation Hub for fintech companies across the Middle East and Africa, the Central Bank of Egypt (CBE) is spearheading a strategy to upskill the country’s young in order to overcome talent shortages, improve access to financing, and enhance digital infrastructure. These initiatives are targeted on significantly raising the rate of financial inclusion in order to benefit all Egyptians, of which only slightly more than 56% are now incorporated in the formal economy. In addition to this, the programme is geared on addressing Egypt’s significant shortage of small and medium-sized enterprise (SME) loans and improving the overall standard of the country’s individual and company financial services.

“Having Mastercard invest in Nclude is definitely a milestone for us. This fund will enable us to further support entrepreneurs in Egypt’s vibrant startup ecosystem who are driving fintech innovation and helping transform the country into a digital and financially inclusive economy,” said Eslam Darwish, Founding General Partner at Nclude. “The partnership with Mastercard will also help us provide ambitious founders with the tools they need to succeed and compete at local, regional, and global levels.”
Read also How Tech Businesses Can Empower South African Entrepreneurs

“We are excited to collaborate with the Nclude Fund in continuation of our efforts to increase financial inclusion in key markets like Egypt, underscoring our global goal of connecting one billion people to the digital economy,” said Adam Jones, Country General Manager, MENA Central at Mastercard. “Through this partnership, we aim to empower Egypt’s rapidly evolving fintech ecosystem in order to allow individuals and businesses to have access to quality financial services, thus promoting the growth of the country’s digital and formal economy.”

Alibaba Kicks Off New Edition of Netpreneur Training Program for Africa

Charles Rapulu Udoh

Charles Rapulu Udoh is a Lagos-based lawyer, who has several years of experience working in Africa’s burgeoning tech startup industry. He has closed multi-million dollar deals bordering on venture capital, private equity, intellectual property (trademark, patent or design, etc.), mergers and acquisitions, in countries such as in the Delaware, New York, UK, Singapore, British Virgin Islands, South Africa, Nigeria etc. He’s also a corporate governance and cross-border data privacy and tax expert.
As an award-winning writer and researcher, he is passionate about telling the African startup story, and is one of the continent’s pioneers in this regard. You can book a session and speak with him using the link: https://insightsbyexperts.com/view_expert/charles-rapulu-udoh

Nigerian Unicorn OPay Signs Deal with Mastercard

May 20, 2022

Leading global card payment solutions company, Mastercard, and Nigeria-based fintech unicorn OPay has announced a strategic partnership to extend the service’s offerings across more of the Middle East and Africa. The collaboration enables OPay consumers and merchants in the region – including Algeria, Morocco, Egypt, Nigeria, Ethiopia, Kenya, Pakistan, South Africa and the UAE – to engage with brands and businesses anywhere across the globe, thanks to a Mastercard virtual payment solution linked to the OPay eWallet.

This partnership is the latest milestone in Mastercard’s emerging market strategy where the technology company is collaborating with growing Fintech such as OPay to expand access to digital payments, enable multiple lifestyle services, create new pathways to financial inclusion and support the next generation of super-apps.

In the initial phase of this partnership, OPay customers will benefit from the Mastercard virtual payment solution linked to their OPay wallets, to shop at well-known global brands for leisure, travel, accommodation, entertainment, streaming services and more.

The service is available regardless of whether or not the customer has a bank account. It also allows small business owners to purchase from suppliers abroad and pay with the secure virtual payment solution.

“At Mastercard, our innovation strategy is rooted in partnerships to support inclusion at scale. Our partnership with OPay demonstrates our commitment to supporting payments providers across the world to create an interconnected global payments ecosystem that benefits an array of consumers with unique needs,” says Amnah Ajmal, Executive Vice President for Market Development, Mastercard EEMEA.

“As the leading fintech in the Middle East and Africa, we are delighted to be partnering with Mastercard as we continue on our journey to promote financial inclusion, helping to open up the global economy to more consumers and businesses across the Middle East and Africa,” says Yahui Zhou, CEO of OPay.

Since its operations started in 2018, OPay’s active users have grown to 15 million in dozens of markets in which it operates. The company processes millions of transactions per day on average.

In Nigeria alone, where OPay takes a significant market share, users have saved billions of US dollars in the last four years through credit-linked savings accounts from their mobile wallets and small loans from lenders that use its platform.

Plans are in place to launch OPay services in other markets in the next three to five years, significantly driving the growth of digital inclusion and digital commerce, while at the same time widening OPay customer inclusion into the global economy.

Mastercard has made a worldwide commitment to financial inclusion, pledging to bring 1 billion people and 50 million micro and small businesses – with a focus on 25 million women entrepreneurs – into the digital economy by 2025.

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

Mastercard Partners Meta to Support SMEs in Africa

December 2, 2021

Amnah Ajmal, EVP, Market Development, Middle East and Africa, Mastercard

Access to credit, data, training and digital tools are among the key challenges for SMEs, further compounded by infrastructure limitations and power supply interruptions in some MEA markets. As research increasingly points to offering choice, SMEs must adapt to a growing hybrid environment with a demand for e-commerce and new payment options.

To this end, global card giant, Mastercard is collaborating with Meta ( formerly Facebook) to support the digitization and growth of SMEs across the MEA (the Middle East, & Africa) region by organizing a training webinar that will provide SMEs insights from industry experts, and a masterclass on how to manage uncertainty from renowned authors and academic Nathan Furr, Associate Professor of Strategy at INSEAD. The event takes place on Wednesday, 8 December at 12h00 SAST.

“The challenges that small and medium businesses continue to experience because of COVID-19 are significant, and we remain firmly committed to supporting them in both recovering and, in due time, thriving. We have an important role to play, providing the necessary digital skills for start-ups and small businesses to survive, recover and deliver results online and offline. We are continuing those training efforts in partnership with Mastercard, helping further boost a burgeoning start-up ecosystem to positively impact socio-economic growth across the region,” said Derya Matras, VP, Middle East, Africa & Turkey, Meta.

“Small businesses form the backbone of local communities, driving the growth of the global economy. The SME segment was highly impacted during the pandemic due to the lack of scale and access to capital. This is a critical time for entrepreneurs and small business owners to have that access to the right resources, insights, tools, and solutions to recover from the impact of the pandemic and thrive. Our partnership with Meta will help support SME growth in the region,” commented Amnah Ajmal, EVP, Market Development, Middle East and Africa, Mastercard.

Although challenges related to the pandemic remain, small businesses in the Middle East & Africa are reclaiming confidence. The recent 2021 Mastercard MEA SME Confidence Index found 74% of SMEs in the region are optimistic about future growth, guided by the potential for digitalization, better data, access to credit and upskilling.

Through technology services, cyber assessments, insights, grants, digital training, mentoring platforms and knowledge initiatives, Mastercard will contribute $250 million over five years to support small businesses’ financial security globally.

As part of its goal to build a more sustainable and inclusive world, Mastercard has committed to connecting 50 million small businesses, including 25 million women entrepreneurs globally, to the digital economy by 2025.

For years Mastercard has been focused on moving businesses at the margins to digital growth in the mainstream. Mastercard’s extensive experience with financial inclusion, and its commitment to include 1 billion people by 2025, makes the company uniquely suited to lead at this critical inflexion point.

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

Mastercard Says There is Huge Opportunities as 57% of Africans are Financially Excluded

September 14, 2021

Global card payment firm Mastercard has said that there exists yawning opportunities in Africa’s fintech sector especially as it has huge growth potentials. The card payment company says that with 57 percent of the population in sub-Saharan Africa being financially excluded while close to 30 percent remains without a form of identification and 60 percent of the continent has no internet connectivity, leaving these individuals unable to access government assistance and basic financial services.

According to Mastercard, efforts being made to address the challenges involves partnering with African fintech and startup company Paycode to provide both company’s offerings on one biometric smart card that will help increase access to critical services and advance economic inclusion for Africans living in remote communities.

Mastercard’s Community Pass platform will be included in Paycode’s Electronic Data And Payments Technology platform (EDAPT) that currently provides a secure, biometric identity as well as a digital bank account. Individuals can access digital financial services offline in real-time even if they lack a formal identity document such as a birth certificate or passport.

Together, Paycode and Mastercard deliver a path to prosperity, enabling users to manage day-to-day needs including paying school fees for children, getting vaccinations for their families, selling goods, and growing their businesses.

To enable this, Community Pass allows a person’s face or palm to be recognized at both online and offline locations, while ensuring best-in-class security of their individual data. Community Pass also leverages consistent technology standards so that an individual can seamlessly access financial, health, agricultural, or aid services across providers, including government disbursements.

The partnership’s goal is to onboard 30 million individuals living in remote, unconnected areas of Africa over the next three years, enabling them to access the products and services they need with a Community Pass biometric smart card that runs on Paycode’s EDAPT platform.

Speaking on the partnership, SVP, Sales & Market Development, H&D for Mastercard, Ricardo Pareja, said: “Adding Inclusive ID functionality to Paycode biometric smart cards helps reach those currently excluded from critical government programs and ensures we are addressing basic financial needs of a dispersed population. As we seek to drive beyond inclusion to fostering prosperity in communities across the globe, a critical focus for Mastercard is to help enable the interoperability and scale of solutions like those provided by Paycode.”

Paycode expressed delight at the partnership. It’s CEO, Ralph Pecker, said: “We are proud to partner with global leaders like Mastercard to effect positive change for people on the ground and drive innovation in financial services delivery in deep rural areas. As leaders in last mile delivery and proof of life financial services technology, we play the important role of providing solutions that bring tremendous growth and financial access offline in real-time to the financial and technology sectors in Africa.”

Vice President, Business Development – Governments at Mastercard, Selim Ergoz, said shared digital tools and scalable channels can bridge the digital access gap. “We believe that shared digital tools and scalable channels can drastically improve the reach and access to services, by reducing the cost to serve those communities as well as improving the effectiveness of service delivery. At Mastercard, we are committed to building an inclusive, sustainable economy where everyone has the opportunity to reach their potential. “Our trusted network powers digital transactions every day, making them safe, simple and smart and we apply this innovation to the most connected and the most remote communities around the world. By partnering with Paycode we will bring Mastercard’s suite of inclusion products to people in Africa that were previously unreachable, and that’s a game changer,” Ergoz said.

Last year, Mastercard pledged to connect 1 billion people, including 50 million micro and small businesses, to the digital economy by 2025. As part of these efforts, the technology company has a direct focus on providing 25 million women entrepreneurs with solutions to grow their businesses.

Paycode’s mission is to give biometric identity and affordable access to basic financial services to over 50 million unbanked and underserved people in Africa by 2025.

Across the world, an estimated 3.4 billion people still struggle to meet basic needs such as access to food, life-saving healthcare, and schooling, and small businesses struggle to receive funding. Community Pass was developed as a shared interoperable digital platform designed by Mastercard to address these different needs. Individuals can be recognized as the same person in different scenarios and make safe, secure, and convenient digital transactions – whether they are receiving healthcare services at a local clinic, checking into a school or redeeming humanitarian cash aid to purchase goods at a local store.

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

Mastercard Expands Cashless Payment Functionality for Uber MEA

April 10, 2021

The Middle East and Africa (MEA) region is poised to have Mastercard’s new initiative focusing on digital payments and advancing financial inclusions for Uber across the region. As a regional first, the partnership with Mastercard will enable Uber to drive digitisation across their business operations, leveraging Mastercard’s single infrastructure to meet all types of payments needs across Uber Rides, Uber Eats, Uber Pass, and Uber for Business.

Amnah Ajmal, Executive VP Market Development of Mastercard

It is intended that the partnership will boost cashless payments, drive digital payment acceptance, reward loyalty, while supporting Uber’s continued social impact collaboration.

The Economy 2021 report released by Mastercard notes that the economic impact of COVID-19 has introduced permanent changes in digital consumer spending habits, growth of online banking, fintech disruption and opportunities to boost financial inclusion.Through the partnership, both companies can bridge the financial inclusion gap through a broad range of efforts.

“Mastercard continues to partner with digital players across the value chain to build a more connected world,” says Amnah Ajmal, Executive VP Market Development of Mastercard.

“Enabling secure, immediate movement of money for individuals in the gig economy workers and customers is especially vital as we support economic recovery efforts. Through our growing partnership, we are enabling the company’s long-term business growth as a result of improved operational efficiencies, driving greater financial inclusion and innovation across the region, and ultimately boosting the growth of the digital economy in MEA.”

Last year, Uber in South Africa launched a product called Uber Pass, which will now be available across most cities in MEA, with Mastercard becoming a key distribution partner to help drive adoption.

“This is the largest partnership for us across MEA, and we are proud to be working together to bring key financial solutions to driver-partners across MEA. Driver’s well-being is a top priority and putting opportunities they want within reach is important to us,” adds Tino Waked, Regional GM of Middle East & Africa.

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

South African Firm Hellopay, to Roll Out Mastercard’s ‘Tap on Phone’ Tech

March 6, 2021

Mastercard International is partnering with South African tech firm Hellopay to roll out SoftPOS – a contactless acceptance solution that turns any NFC-enabled Android device into a physical point of sale. This two pronged solution is expected to boost digital payment acceptance at small informal enterprises in South Africa, while supporting consumers’ preference for touch-free payments amidst social distancing.

Amnah Ajmal Sharma, EVP of Market Development for MEA at Mastercard

SoftPOS leverages Mastercard Tap on Phone technology developed for micro and small businesses like spaza shops, independent retailers, market stall traders, mobile servicemen and tradesmen who tend to operate in a cash economy due to the costs and complexity of obtaining traditional point of sale devices.

“The SMME market represents 98% of businesses in South Africa and has been deeply impacted by the pandemic. We recognise the overwhelming pressure that small business owners are currently facing and are committed to supporting them through COVID-19 and beyond by bringing our tools at a low cost and rapid time to market,” says Amnah Ajmal Sharma, EVP of Market Development for MEA at Mastercard.

“Through our partnership with Hellopay, we can further support financial inclusion – especially among informal merchants –and help these businesses deliver new and best-in-class contactless consumer experiences using a device they already own: a smartphone.”

The tech firm will pilot the solution with 1,000 merchants over the next six months. Mastercard, which continues to be at the forefront in the design of security requirements for Tap on Phone, will manage the payments infrastructure to ensure the solution remains safe, secure, and seamless.

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

Mastercard to Support Cryptocurrency Transactions on its Network

February 12, 2021

Mastercard is preparing for the future of transactions by planning to support cryptocurrency transactions across its network. This comes at a time when these digital assets are becoming a more important part of the payments world, especially during Bitcoin’s recent surge in value. Mastercard is planning to support cryptocurrency transactions across its network.

In a blog post, Mastercard says, “We are preparing right now for the future of crypto and payments, announcing that this year Mastercard will start supporting select cryptocurrencies directly on our network. This is a big change that will require a lot of work. We will be very thoughtful about which assets we support based on our principles for digital currencies, which focus on consumer protection and compliance.”

The company goes on to say that its philosophy on cryptocurrencies is straightforward: It’s about choice.

“Mastercard isn’t here to recommend you start using cryptocurrencies. But we are here to enable customers, merchants and businesses to move digital value – traditional or crypto – however, they want. It should be your choice, it’s your money.”

Mastercard expects this to create a lot more possibilities for shoppers and merchants, allowing them to transact in an entirely new form of payment. It may open merchants up to new customers who are already flocking to digital assets, and help sellers build loyalty with existing customers who want this additional option. And customers will be able to save, store and send money in new ways.

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

68% Of Consumers In Ivory Coast Shop Online — Mastercard Report

December 17, 2020

The Covid-19 has caused a real boom in e-commerce around the world. Ivory Coast is one of the most advanced French-speaking African countries in terms of digitization. A state of affairs which, coupled with the pandemic, has propelled online shopping. This is what Mastercard has revealed in a recent study. According to the company, 68% of Ivorian consumers have been buying more online since the start of the crisis.

Mastercard also shed light on the types of items that have seen the most sales. These include clothing (61%), data recharging (55%) and computer equipment (48%). Social networks have been the main points of contact between suppliers and buyers. 85% of respondents say they have discovered new sellers on Facebook. 34% did so on Instagram.

Mastercard Ivory Coast Mastercard Ivory Coast

Apart from online consumer experiences, the report also shows an increase in other forms of web use. Thus, 48% of respondents indicated that they had taken virtual cooking lessons. 51% learned a new language and 26% learned to dance. In addition, web consumers also want more security for a good shopping experience.

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