Business

COVID-19: A litmus test for SMEs performance and survival

Published

5 years ago

July 5, 2020

By Najafi Auwalu Ibrahim

We are experiencing the highest rate of changes in history, leading to a lot of disruptions, envisions, chaos, and opportunities. Before the coming of notorious pandemic COVID-19, SME’s business failure is on the rise especially in developing countries like Nigeria.

This has skyrocketed the Nigerian unemployment rate from 5.5% in January 2015 to 23.1% in November 2019 with a projected rise to 33.5% in 2020.

And it is expected to double as a result of the COVID-19 pandemic. The current situation has become entrepreneurs’ judgment day, when many debatable issues will be sorted, which might give rise to new ones. Previously, most people see entrepreneurship as “having excess money”, “a chance”, “about connection”, “just being born by nature” or “character”. But, we are today faced with a problem in which none of the above can save any business, hence, threatening many jobs, business survival, and even the economy of various countries around the world.

It is my submission that the entrepreneurial journey requires more than what has been listed above; character inclusive. Don’t get me wrong, entrepreneurship requires wherewithal such as equipment, finance, and passion to achieve success.

But success in today’s entrepreneurial journey requires discipline and perseverance. Success is not a person, it’s an event”. These events are made up of very small stones developed and put together strategically over a period of time.

We might not be responsible for the effect of COVID-19 on us and our businesses, but we will be responsible for failing to get back stronger and better. The choice is ours.

As we face COVID-19 and its effects on businesses and jobs, it’s an opportunity for “acclaimed entrepreneurs” to know where they stand. According to Michael Gerber “we have entrepreneurs, we have managers and we have technicians“. The entrepreneurs will from this trivial condition identify an opportunity and capitalize on it to remain relevant, ensure survival and sustainability. This is one of the major difference between entrepreneurs and others i.e. their tenacity and the absence of fixed success ideology. The entrepreneurs will not give up despite being faced by one of the adversity of the 21 century, but rather will persevere to redefine and reshape the purpose of their business to ensure its survival and growth.

What does this means?

It means we all, either as individuals or businesses would be affected by COVID-19, but that should not be an end to our life, hopes and dreams.

We all need to think outside the box or even draw a new box to survive this trying moment. It’s possible, though not easy, hence, the need to fight valiantly to become victorious.

How can we do it?

Let me start by quoting George Bernard Shaw who says “The reasonable man adapts himself to the world; the unreasonable one persists to adapt the world to himself. Therefore all progress depends on the unreasonable man.” For us and our business to survive post-COVID-19 we need to do the unreasonable, change our strategy, make difficult decisions, and also push ourselves. Normally, entrepreneurs are known to be proactive, flexible and self- educative among others. The current pandemic requests for more to survive and grow, hence, the following are some of the major to-do list needed by individuals and businesses in this trying moment:

We need to be aggressive with our plans: It’s ok to look foolish in the short term for us to win in the long term, hence changing our plans might result in short booing but will lead to cheering in the long run. COVID-19 has created a lot of chaos, and other new things which can be fun, except for people who are afraid of change. Let’s remember that it takes guts to make change, which defines how progressive we are. The fact is, most of our decisions might not be felt by our team, because they may look delicate as compared to when things were normal. At this junction, we all have to temporarily feel the insanity that comes with the situation, but most importantly we should carry our people along in taking any decision. That is, the decision making process should be collaborative and inclusive.

ii. Differentiate between controllable and uncontrollable factors: What we do always have consequences (intended and unintended), the decisions we make and actions we take all have weight. However, certain factors such as government policies, COVID-19 virus cannot be controlled, but our plans and decisions can. So, knowing the difference will give us the chance to consolidate and position our business solidly for the future.

iii. Spend the money for the right reasons i.e. drastically reduce cost: We need to cut bait on our losses, we all know them, the ones we have been defending hoping they will come around but secretly we know they never will. This is differentiating between having and must have, doing this will give room for new ideas that win, for success to present themselves. More so money should be spent to either survive or to grow as to actualize new opportunities.

iiii. Create certainty for yourself, the business and the customers: We should be beacon of hope to ourselves and also extending same to our business and customers. These include showing them that we really know how a business should be run based on our actions and inactions. The whole point is to keep them happy as well as assure them that the future will be bright. This requires more discipline, work ethics and the likes to ensure we create certainty at least within our business, industry and the community.

v. We should look deep into our existing customers: We need to carefully and deeply watch, listen, and respond to our customer’s needs now, more than before. This will give them the assurance that we are still capable of adding value to them. Many will start looking for new customers, but the real entrepreneurs will focus more on their existing customers, making more contacts to know how their preferences, income, and needs have changed and assured them of our readiness to serve them well. In essence, now is the time for consolidation and positioning for the future. Hence, our focus should find out how we can help our customers and make them feel that we are on their side. This will make the customers happy and more confident in us.

vi. Avoid putting more cash when it’s clear the business is sinking: though we need to withstand the pressure and tolerate a lot of risks when the shot is going against us, still we should never hold on to a loser. The moment it doesn’t feel right, you let it go and get away from it. Many will ask what happens to the notion that “entrepreneurs don’t quit”, to me is not quitting but jumping out of a ship, the moment it is actually going to sink. This gives you the opportunity to start a new challenge.

In conclusion, though the situation and the market are delicate, we need to be deliberate in our actions. So lets us all get out there to do what needs to be done. We all need to be game-changers in our lives and businesses to survive post-COVID-19.

Najafi Auwalu Ibrahim, PhD teaches Entrepreneurship and Venture Creation in the Department of Bus. Admin,
Bayero University, Kano.
najafauwal@gmail.com

Business

Galaxy Backbone Unveils Ambitious 4-Year Digital Transformation Roadmap for Nigeria

Published

4 months ago

March 18, 2025

Nigerian Tracker

Galaxy Backbone Limited (GBB), Nigeria’s foremost digital infrastructure and services provider, has unveiled a bold and comprehensive four-year strategic plan (2025-2028) aimed at accelerating the integrated digital transformation Strategy (|DTS) plan for government and businesses in Nigeria.

This strategy is designed to enhance digital service delivery, strengthen connectivity, and support
Nigeria’s vision of a fully integrated digital economy.

Developed in collaboration with key stakeholders, the strategy focuses on five core pillars that will drive efficiency innovation, and sustainability in Nigeria’s digital landscape.

Mr. Chidi Okpala Head, Corporate Communications in a statement said the first focuses on building a Resilient Digital Infrastructure; ensuring that govemment and businesses have access to secure, high-speed, and scalable digital platforms.

He said by building and maintaining a robust digital backbone, GBB aims to support the nation’s growing demand for seamless connectivity and data security.

He also said the second pillar, Integrated Digital Ecosystems; fosters coll aboration between
government, businesses, and local communities, creating a more connected Nigeria.

He however said, through this initiative, GBB seeks to break silos and establish a unified digital
experience that enhances communication, innovation, and service delivery.

He added that to meet the evolving demands of governance and business, the strate gy prioritizes Innovative Service Delivery; ensuring that digital solutions are tailored to address economic, social, and administrative needs.

“By leveraging cutting-edge technologies, GBB is committed to driving efficiency, economic growth, and improved public service delivery.”

“Now, recognizing the critical role of trust in the digital era, the fourth pillar of the strategy places a strong emphasis on Digital Leadership & Trust.

“GBB is dedicated to fostering a culture of cybersecurity transparency, and accountability, ensuring that Nigerias digital infrastructure is not only efficient but also secure and reliable.”

“To sustain long-term impact, the fifth pillar, Financial Sustainability; remains a key priority.”

According to him, by investing in innovative technologies and expanding its digital services, GBB aims to drive revenue growth while ensuring affordability and accessibility for all users.

He also maintained that at its core, this strategic roadmap is designed to enhance government efficiency, boost economic development, and improve the overall digital experience for Nigerians.

” So, as part of its commitment to achieving these goals, GBB is actively engaging with government agencies, private sector players, and international and local partners to foster collaboration and accelerate implementation.”

He pointed out that through strategic partnerships, the organization is poised to lead Nigeria into a new era of digital excellence, ensuring that businesses and government institutions alike are equipped for the future.

Galaxy Backbone, through its IDTS plan, remains steadfast in its mission to drive Nigeria’s digital transformation through world-class infrastructure, secure connectivity, and innovative solutions that power progress.

Business

GBB to Train Over 300 Civil Servants on Govmail

Published

4 months ago

March 11, 2025

Nigerian Tracker

Abuja, Nigeria – Galaxy Backbone (GBB), the nation’s foremost digital infrastructure and services provider, is set to train over 300 civil servants, including Email Administrators and Heads of ICT, on the adoption, management, and administration of Govmail—the secure official email platform for Nigeria’s public sector. The training, which will be conducted in batches throughout the month of March 2025, aims to ensure maximum impact and effective knowledge transfer.

This initiative is in alignment with the Federal Government’s digitalisation agenda, which prioritizes secure, efficient, and technology-driven governance. By equipping civil servants with the necessary expertise to optimize Govmail, the government is ensuring seamless communication across Ministries, Departments, and Agencies (MDAs) while strengthening data security and operational efficiency.

Prof. Ibrahim Adeyanju, the Managing Director/CEO of Galaxy Backbone, reaffirmed the organisation’s commitment to driving Nigeria’s digital transformation through innovative and secure technology solutions. “As the nation’s leading provider of digital infrastructure, GBB is playing a pivotal role in ensuring that government communications are secured, professional, and aligned with global best practices. This training will enhance civil servants’ ability to effectively utilize Govmail in carrying out their official responsibilities,” he stated.

The training is being conducted in collaboration with the Office of the Head of the Civil Service of the Federation (OHCSF), who has sent out a Circular to all MDAs informing them of this specialized training aimed at providing hands on experience with GOVMAIl features and ensure uniform adoption of and compliance with government approved digital communications standards. This further reinforces the government’s commitment to a digitally-driven public service. It would be recalled that the Head of the Civil Service of the Federation recently described Govmail as a ‘game changer’ for government communication. This underscores the significance of the platform in enhancing inter-agency collaboration, data sovereignty, and information security across all MDAs.
Through this capacity-building initiative, GBB is reinforcing its role as a key enabler of Nigeria’s digital transformation journey, ensuring that public sector professionals are well-equipped to harness the full potential of digital tools in their daily operations.

About Galaxy Backbone
Galaxy Backbone Ltd is a digital infrastructure and services company committed to providing secure and efficient digital solutions to support governance, service delivery, and national development for public and private sector organisatuons. GBB plays a critical role in the digitalisation of government processes, ensuring efficiency, security, seamless collaboration across MDAs and providing a platform for enabling digital services across corporate and public organisations.

Signed:
Chidi Okpala
Head, Corporate Communications

Business

KEDCO Sees Improvement in Financial Performance Following Power Restoration, Appeals for Prompt Payment

Published

8 months ago

November 24, 2024

Nigerian Tracker

Kano Electricity Distribution Plc. (KEDCO) has reported steady improvements in financial and business performance following the restoration of power supply after a significant blackout during the September-October 2024 billing and collection cycle. This was disclosed in a press statement signed by Sani Bala Sani, Head of Corporate Communication at KEDCO.

According to Sani, the blackout had severely impacted KEDCO and three other distribution companies in the North East and North West regions, with KEDCO being the worst hit. “Recall that KEDCO, alongside three other distribution companies in the North East and North West had significant disruption to power supply in October, with KEDCO being the worst hit,” he stated.

The operations at KEDCO were initially affected on October 13th, 2024, with only 40% of their grid allocation being supplied after the Shiroro-Kaduna 330kV line incident. This situation was exacerbated by a total blackout on October 20th, 2024, during the peak of the revenue collection cycle. “Although the power supply was partially restored to a 40% level on 30th October, we were only availed with up to around 85% supply levels on November 14th and are anxiously awaiting the completion of the Shiroro-Kaduna repairs,” Sani explained.

The blackout resulted in KEDCO’s worst market performance of the year, posing significant financial and economic challenges for both KEDCO and its customers. “Having zero grid supply posed significant financial and economic challenges for KEDCO and its customers, with many customers resorting to costly backup sources or shutting down operations,” Sani noted.

Despite the challenges, KEDCO has seen improvements in power supply, which now stands at around 85%, leading to significant collections from last month’s arrears. Sani urged customers to cooperate by paying their current bills and outstanding arrears promptly to ensure business sustainability. “Thankfully, with the current power supply at around 85%, we have recorded significant collections from last month’s arrears and are appealing to our customers to continue to cooperate with us on prompt settlement of their current bills and arrears, for business sustainability,” he appealed.

Sani also commended the resilience of KEDCO’s customers and vowed to continue improving the performance in supplying safe and reliable electricity. “We commend the resilience of our customers and vow to continue to improve our performance in supplying them with safe and reliable electricity,” he said. He thanked the Honourable Minister of Power for his timely intervention and the Transmission Company of Nigeria (TCN) for their restoration efforts. “We equally acknowledge TCN’s restoration efforts and appreciate the Federal Government’s commitment to helping improve the redundancy and safety of the National Grid,” he added.

Looking ahead, KEDCO’s core investor and Board remain committed to driving investments and improving performance through embedded generation supply options via the Safe Grid and Utility 2.0 projects. “It remains our core investor and Board’s resolve to continue to drive investments and improved performance through embedded generation supply options in our network via the Safe Grid and Utility 2.0 projects,” Sani stated.