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TECHNOLOGY

Best Peer-To-Peer Platforms For Social Transactions

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Best Peer-To-Peer Platforms For Social Transactions

Since its inception as an innovative mode of communication, social media has come a long way. What began as a way to interact with peers all over the world has evolved into a business tool for advertising and brand promotion. Pioneers in social media will continue to develop, and the most recent progression involves the integration of payment methods within the social media realm.

Statista data shows a steady increase in the number of social media users, with about 71% of people depending on social media referrals to influence their buying decisions. So this shows how powerful social media can be as the major pillar of e-commerce.

Social media shopping does not require using cash to pay, instead, you use a bank transfer or credit/debit card. But what do you do if you buy products on social media platforms and you have to make payments to validate your purchase? Undoubtedly, P2P payment is the surest deal in this instance.

With the potential of social media in mind, many social media platforms are beginning to develop payment capabilities that enable P2P payments or direct online purchases that eliminate the role of a third party.

P2P platforms typically enable you to buy and pay directly to the seller – as this allows both parties to negotiate for good pricing. This is in contrast with making direct online purchases that have to do with buying from a platform that acts as the middleman between the buyer and the seller. Therefore, P2P platforms evolve to break the barrier between the buyer and seller such that you can have a good understanding of the preferred product that you are buying.

One of the best P2P platforms we have today is Peppa. This is a social commerce platform that acts as the meeting point for buyers and sellers. You (the buyer) can interact directly with the seller of the product you want to buy while you both negotiate on the best price for that product.

Peppa marketplace is where buyers can see a variety of products displayed with the respective seller storefront to inform and influence their decision on what to buy, which seller they should buy from, and how much they should pay for the product.

 

What Are The Best P2P Platforms For Social Transactions?

 

1. Peppa

 

Peppa is leading the pack of social transactions in Nigeria and by extension Africa. This is a P2P platform that is designed for buyers and sellers to make social purchases simple and social payments seamless.

 

One crucial feature of Peppa is the escrow payment product that enhances the confidence of buyers in a business and its products and reinforces the commitment of sellers to satisfying their customers. In this regard, Peppa uses the escrow feature to act as the middleman between the seller and the buyer, such that the payment made by the buyer of a product is not released to the seller until the terms of the agreement between the buyer and the seller are met.

 

Moreover, Peppa charges a relatively low fee when you its platform and there are different options available on the social media platform.

 

2. Venmo

 

Venmo was the first of many e-wallet apps to use social media to send payment notifications. This platform allows users to integrate their e-wallet with their Facebook account and instantly turns transactions made within the app into a Facebook status. As time goes by, Venmo uses a phone number to connect a bank account to a P2P payment profile.

 

However, Venmo customers must pay a 3% fee for credit card payments, while debit card payments are free. Venmo also includes a social payment feed.

 

3. Google Pay And Apple Pay

 

Google Pay and Apple Pay are P2P payment platforms that use near-field communication (NFC) technology to allow users to make payments from their mobile devices. While Google Pay is available on Android devices, Apple Pay is available on iPhones.

 

Google and Apple Pay can perform a dual function of being used to make in-store payments as you can also use them to send or receive money. There are no costs for using Google Pay or Apple Pay, although certain transactions, such as sending money to a bank account or making overseas P2P payments, may incur costs.

 

4. PayPal

 

PayPal is considered the oldest and most popular P2P payment platform. With over 270 million active users in over 200 countries, Paypal offers a wide range of services, including making social payments and money transfers.

 

PayPal is widely used because of its consumer and seller protection policies, which are similar to Peppa’s terms of use and the ability to make online purchases. Money transfers are free on PayPal, although there are costs for specific transactions (which social payment is not part of).

 

Pros Of P2P Platforms For Social Payments

 

  • Funds are always available immediately

 

  • Send invoices and receive payments electronically

 

  • Cost-effective way to make local and international payments.

 

Cons Of P2P Platforms For Social Payment

 

  • Limited functionality and integrations

 

  • Not suitable for the business-to-business (B2B) sector

 

  • Fees may apply

 

Conclusion

 

Social payments can be easily achieved with the potential of P2P platforms that have great features to improve trade completion between buyers and sellers. These platforms enable dye buyers and sellers to engage while they act as the payment gateway.

 

Peppa is one of the fantastic P2P platforms that enables you to leverage features like the escrow service, Peppa marketplace, and Peppa storefront to make products and payments easily accessible to buyers and sellers, respectively.

 

Do you need a P2P platform that gives you the utmost confidence in social media trading, try Peppa.

 

Create a Peppa account now to get started.

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TECHNOLOGY

Europe’s Network and Information Security (NIS2) directive raises the stakes for African businesses to comply with European Union’s (EU) cyber security standards

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Issam-El-Haddioui- (1)

The European Union’s NIS2 cyber security  directive has significant implications for African businesses trading with the continent.  This is according to Check Point Software Technologies (www.CheckPoint.com), a leading AI-powered cloud-delivered cyber security provider, which urges African businesses with strong ties to the EU to take steps to comply with this new, stringent cyber security regulation.

The European Union’s NIS2 Directive, came into effect this month and requires member states to amend their national legislation. The NIS2 Directive imposes strict cyber security requirements, including enhanced management liability, reporting to authorities, risk management, and business continuity planning, placing African companies trading with the EU under increased scrutiny.

CheckPoint-NIS2-infographic-EN (1)

The NIS2 Directive builds upon the original NIS1 Directive introduced in 2016, expanding its scope to cover a wider range of sectors including Energy, Banking, Transport, Digital Infrastructure, Healthcare, Food Production, and Research. More than 80% of European enterprises are now within the scope of this legislation, which extends to global supply chain partners—including many businesses in Africa.

Collins Emadau, Check Point Partner and Director at Westcon, explains, “Europe is still Africa’s leading trading partner. African businesses, particularly in leading economies such as South Africa, Kenya, and Nigeria, need to understand the far-reaching impact of NIS2. Compliance is not just about meeting EU standards—it’s about securing their future in a globalised market. Failure to comply will result in not only heavy fines but also the potential loss of critical trade partnerships with EU member states.”

What’s at Stake for African Businesses?

The EU remains the largest trading partner for Africa, with over 18 Economic Partnership Agreements and trade worth billions annually. African businesses, especially in sectors like Energy, Banking, Transport, and Manufacturing, are key partners in the EU’s supply chains. To continue doing business with EU companies, African organisations must comply with NIS2, which mandates strict cyber security measures to protect critical infrastructure and supply chains.

Issam El Haddioui, Head of Security Sales Engineering:  Africa, Check Point Software Technologies, says, “NIS2 sets a new standard for cyber security, and African businesses must act now. Many organisations are unaware of the depth of these requirements, which go beyond local regulations. Compliance is essential not only for maintaining business relationships with the EU but also for enhancing the overall resilience of African economies against cyber threats.”

Compliance will exact a cost for African organisations, which according to Interpol’s 2021 Africa Cyberthreat Assessment Report, spends an average of only 0.05% of their revenue on cyber security, far below the global average of 0.3-0.5%.  The Report also estimated the financial impact of cyber crime in the region at over $4 billion USD, representing about 10 percent of Africa’s total GDP.

Tougher Penalties and Personal Responsibility

NIS2 introduces personal liability for business leaders in the event of a cyber attack, meaning that executives themselves can be held financially accountable for breaches. Penalties include fines of up to EUR 7 million or 1.4% of a company’s global annual turnover, whichever is higher. This goes beyond the GDPR, placing even more responsibility on corporate leadership to ensure robust cyber security practices are in place.

NIS2 mandates that organisations must report cyber incidents to authorities promptly and inform their stakeholders, suppliers, and customers. Therefore, African businesses must ensure they have a comprehensive incident response plan in place, along with regular cyber security training for both IT and leadership teams.

Steps for African Businesses to Ensure Compliance

To successfully implement NIS2 and avoid devastating penalties, Check Point recommends the following four steps for African businesses:

  1. Knowledge: Business leaders must gain a basic understanding of cyber security to effectively communicate with their IT teams and ensure sound decision-making.
  2. People: Establish an agile IT security department, including key roles such as a Data Protection Officer (DPO) and a Chief Information Security Officer (CISO), to manage and distribute responsibilities efficiently.
  3. Audit: Conduct regular risk assessments and audits to identify and mitigate vulnerabilities. Continuous monitoring is essential to stay compliant with evolving threats.
  4. Incident Management: Develop clear procedures for responding to cyber incidents, including swift reporting to national authorities, suppliers, and stakeholders.

Long-Term Commitment to Cyber Security

Compliance with NIS2 is not a one-time process; it requires a long-term commitment to cyber security. From 2028, organisations will be required to annually document their NIS2-compliant IT infrastructure and demonstrate that their cyber security measures are aligned with the latest technological advancements.

“African countries, especially economic leaders like South Africa, Kenya, and Nigeria, should also consider using the NIS2 framework as a model for strengthening their own national cyber security regulations. By improving cyber-readiness, African businesses can not only comply with international standards but also protect their data, operations, and reputations from evolving threats,” El Haddioui continues.

El Haddioui, concludes, “The NIS2 Directive marks a significant shift in the cyber security landscape. African business leaders must recognise that cyber security is now a matter of survival, not just compliance. By taking proactive measures, they can safeguard their future, avoid heavy penalties, and ensure their organisations thrive in an increasingly interconnected global economy.”

CheckPoint-NIS2-infographic-EN (1)

 

Distributed by APO Group on behalf of Check Point Software Technologies Ltd..
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TECHNOLOGY

VFS Global appointed to roll out Australian biometric collection centres in Sub-Saharan Africa

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With the recent addition of Sub-Saharan Africa and Europe, VFS Global has become the exclusive biometrics collection service provider to Australian visa applicants across all nine regions globally.

CAPE TOWN, South Africa, October 16, 2024/ —

Services to be rolled out at 12 locations in seven countries in Sub-Saharan Africa by February 2025

VFS Global becomes the exclusive biometric collection service provider for Australian applicants in all the nine regions globally – ​Americas, Europe, Mekong, Middle East and North Africa, Pacific, South Asia, South East Asia, North Asia, Sub-Saharan Africa

Core services include Biometric Collection and Identity Verification, Digital Assistance with online visa applications submission and Online Payment Assistance.
Additional (as required services) include remote interview hosting, document and claim checking, paper digitisation and local addressing and document delivery.

The Department of Home Affairs, Australia has appointed VFS Global to provide biometric collection services for Sub-Saharan Africa. VFS Global is the world’s leading outsourcing and technology service specialist for governments and diplomatic missions. This is in addition to the seven regions awarded in August 2023 to provide biometric collection services –the Americas, Mekong, Middle East and North Africa, North Asia, Pacific, South Asia and Southeast Asia. With the recent addition of Sub-Saharan Africa and Europe, VFS Global has become the exclusive biometrics collection service provider to Australian visa applicants across all nine regions globally.

The Sub-Saharan Africa region includes seven countries in total with Australian Biometric Collection Centre services to be rolled out at 12 locations in 13 countries by February 2025. This includes setting up Centres in Ethiopia, Ghana, Kenya, Nigeria, South Africa, Uganda and Zimbabwe.

According to the agreement, VFS Global’s core services include Biometric Collection and Identity Verification, Digital Assistance with online visa applications submission and Online Payment Assistance on the Department’s ImmiAccount portal. The company would also provide additional (as required services) such as remote interview hosting, document and claim checking, paper digitisation and local addressing and document delivery.

“We are pleased to extend our Agreement with VFS Global to include Europe and Sub-Saharan Africa. We will continue to work closely with VFS Global to ensure the delivery of high-quality biometric collection and visa support services for our visa applicants worldwide.” said Anthony Phillips, Director Offshore Service Delivery Partners Section, Department of Home Affairs.

“Securing these two regions is a testament to our dedication, expertise, commitment to excellence, and trusted partnership with the Department of Home Affairs, Australia. This decision not only reflects our ability to meet highest standards but also reinforces our resolve to deliver innovative solutions. Under the Department’s guidance, we will continue to elevate the experience of Australian applicants across the world,” said Jiten Vyas, Chief Commercial Officer and Head of Business Development, VFS Global.

Distributed by APO Group on behalf of VFS Global.

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ENVIRONMENT

Nigerian Company MMNL to invest $50 Million to scale up its Tubular Batteries Production to 100,000 with backward integration in Next 5 years

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Metal Manufacturing Nigeria Limited (MMNL); also ventures into multiple business verticals in backward & forward integration

Metal Manufacturing Nigeria Limited (MMNL); also ventures into multiple business verticals in backward & forward integration and into the Mining segment to stay ahead of its competitors

Metal Manufacturing Nigeria Limited (MMNL); also ventures into multiple business verticals in backward & forward integration

To cater to the rapidly growing demand of Nigeria’s energy sector; Metal Manufacturing Nigeria Limited (MMNL), Nigeria’s largest tubular battery company is aiming to double its expansion capacity to 60,000 pcs per Month in the next financial year. The company is planning to invest around $50 million in capacity expansion, new greenfield projects in the energy backup segment, R&D, Mining & Beneficiation, Plastic container and carton manufacturing units along with brand building and channel partner engagement to accelerate its ambitious growth target. 

 

Being the First Company to produce the Tubular Batteries in Nigeria; MMNL have had its fair share of challenges & hurdles. Over the past 5 years, MMNL has conquered several obstacles including a lack of skilled manpower, a duopoly of supply chain vendors, hurdle of sourcing raw materials, unstable power supply, exorbitant hike in electricity tariff & gasoline price and machinery and scarcity of spare parts in the region. Despite of providing thousands of employments of opportunity; battery manufacturing sector is struggling for survival and desperately in need of government policy support such as raising import duty of foreign importers and export duty for raw materials.

Metal Manufacturing Nigeria Limited (MMNL); also ventures into multiple business verticals in backward

These problems would often demoralize and demotivate any company in tubular battery manufacturing sector and make it unviable for any business to operate in such a situation. Despite their 14 years of manufacturing experience in Nigeria, it found itself in a despondent situation which has led the company to explore other verticals to optimize the supply chain cycle. MMNL has taken several initiatives to address the stated challenges. For example, to address the issue of lack of skilled manpower, the company has conducted hundreds of technical training sessions to locals to enhance & upgrade their skill set and it is continuing to invest in manpower training. Similarly to ensure a steady supply of raw materials, the company has ventured into the mining business, beneficiation plant and other business verticals like plastic container & carton manufacturing. The company has also launched its dedicated service centre to resolve customer issues.

 

“Despite several challenges; the company has achieved stable production of 30,000 units per Month by 2024. MMNL is proud of the fact that it is the first & only Made-in-Nigeria inverter battery company which dominates over 35% to 40% of market share. It means every 5 batteries sold in Nigeria; 2 batteries are from MMNL”, said Mr. Amit Kumar, CEO of Metal Manufacturing Nigeria Limited. “As an Industry leader; company is continuously striving to delight the customer with quality and innovation in the product and making significant contributions in local employment opportunity as well as saving foreign exchange” 

Metal Manufacturing Nigeria Limited (MMNL); also ventures into multiple business verticals in backward & forward integration and into the Mining segment to stay ahead of its competitors

MMNL is bound to focus on completing its end-to-end supply chain cycle with a backward and forward integration expansion to proliferate its growth plan and to survive in the highly volatile environment. MMNL has already invested $25 million in Battery production, lead & Oxide manufacturing plant in Shagamu, Ogun state. MMNL’s current production capacity is 30,000 units of inverter batteries. Company is all set to boost its battery production capacity to 60,000 at the start of the new financial year and over 100,000 production capacity by opening a new battery greenfield production plant by 2027-2028 along with backward integration including lead-zinc ore mining and beneficiation. 

 

To make the brand available and accessible for the end customers across Nigeria, MMNL is also expanding geographically across the country, forging multi-channel partnerships, executing its retail strategy and to make use of eCommerce & digital channels.

 

Being an Industry leader with 14 years of manufacturing experience in Nigeria; MMNL has certainly created a high entry barrier for both existing and new players which are considering to start their tubular battery manufacturing operation. Metal Manufacturing Nigeria Limited is a shining example of how a true leader can sail through turbulence of political, economical, social & technological hurdles.

 

About Metal Manufacturing Nigeria Limited (MMNL)

Metal Manufacturing Nigeria Limited (MMNL) is the largest tubular battery manufacturing company

Metal Manufacturing Nigeria Limited (MMNL) is the largest tubular battery manufacturing company.  MMNL is the most trusted and ‘Proudly Made in Nigeria’ brand with over 14 years of industry experience. Recently; MMNL won 3 awards in a row 1) ECOWAS Inverter Battery Company of the Year 2) ECOWAS Inverter Battery Manufacturing Company of the year and 3) ECOWAS Renewable Company of the year. MMNL provides over 1000 direct and indirect local employment opportunities.

The Company also got pioneer status accreditation from Nigerian Investment Promotion Commission (NIPC). Currently MMNL is present across 6 major locations along with a strong network of channel partners consisting 3000+ Installers, 1000+ Dealers and 100+ Distributors and over a half million of satisfied & happy customers.

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