Business Model
Metaverse ‘explosion’ will be driven by B2B, not retail consumers: KPMG partner
The Australian arm of Big Four accounting firm KPMG could soon be holding executive meetings and closing multi-million dollar deals with clients in the Metaverse, with the firm now exploring how the revolutionary technology can transform its business model. In a recent interview, KPMG’s James Mabbott, Partner in Charge at KPMG Futures said the firm sees real potential in the technology creating new and more efficient ways for businesses and consumers to interact with each other: “I think the really interesting applications are going to be in the business to business context […] And I think that I actually think that’s where the money is going to be [even] more so than the consumer driven participation.” Mabbott also stated that virtual interactions on Metaverse platforms could ...
Chanchangi braces up to resume flight operations
Nine years after ceasing operations, Chanchangi Airlines Nigeria Limited is set to return to the country’s airspace. With its head office in the Chanchangi Office Complex in Kaduna, Nigeria, the airline had operated scheduled domestic passenger services. The Director General of the Nigerian Civil Aviation Authority (NCAA), Capt Musa Nuhu, who disclosed the plan Friday said the Kaduna based airline is preparing a comeback. He gave the hint while explaining the high demand for air travels in the country, saying that “Chanchangi wants to come back and they want to use ATR. They are planning to come back. The demand is there.” Capt Nuhu equally observed a new trend in airline operations where operators are now shifting to smaller aircraft against the bigger ones. The DG said: “You mentioned th...
Broadband penetration hits 45.43 percent in Nigeria
The Minister of Communications and Digital Economy, Dr Isa Pantami, says broadband penetration in Nigeria increased to 45.43 per cent in October. Dr Femi Adeluyi, Technical Assistant on Information Technology to the minister, said this in a statement on Wednesday in Abuja. Adeluyi said that this was due to an increase of 4,061,731 broadband subscriptions between September and October 2020. “This increase in broadband penetration has been as a result of conscientious implementation of the National Digital Economy Policy for the overall benefit of the economy to achieve a Digital Nigeria. “The Nigerian National Broadband Plan (2020-2025), along with the harmonisation of Right of Way charges across the states and protection of critical national infrastructure across the country, had a signifi...
Hollywood-backed Quibi to shutter six months after launch
Streaming service Quibi said on Wednesday it intends to wind down its operations and start a process to sell its assets, just six months after its launch. The announcement highlights the dominance that Netflix, Amazon’s Prime Video, Disney+ and Apple TV+ hold over smaller streaming service providers, which struggle to keep up against their large content budgets and vast libraries of shows. “The world has changed dramatically since Quibi launched and our standalone business model is no longer viable,” founder Jeffrey Katzenberg said in a statement. Los Angeles-based Quibi offers entertainment and news in episodes of 10 minutes or less on mobile phones, initially promoted for on-the-go viewing. The service was priced at $5 a month with advertisements, or $8 a month without them. “Our failure...
ComercioPartners urges corporate organisations to leverage on pandemic opportunities
Investment banking company ComercioPartners has tasked fellow corporate organisations in the country to tinker their business model in order to take advantage of the opportunities provided by COVID-19 pandemic, The company said while other companies are lamenting the effects of the pandemic, it has leveraged on the new business environment, provided by the pandemic, to deepen its resources. Head, Financial Advisory of the company, Steve Osho, said: “Occurrences such as the pandemic brings an opportunity which forward-looking organisations leverage on to hit it big. “For us, even with the pandemic, we see a great future in Africa.” Osho, at a recent virtual investment lecture, stated that in Comercio, the dream of the future is better than the history of the past. He added that “by leveragi...
Understanding the strength of small businesses
The number of small businesses keeps growing in the formal and informal sectors of the Nigerian economy, due to the role of small businesses as the live-wire of any economy and the backbone of major developed economies the world over. Though Nigeria rely majorly on oil and revenues derived from it, from context observation the economy is largely supported by small businesses covering almost all spheres of activities within the country, ranging from Nano, kiosk, and Micro businesses most importantly. A visible reference usually includes the vulcanizers, corner shop owners, single retail marketers, repairers, painters, business center operators, restaurants, market women, and men in the various open markets, among others. and the formal operations such as the law firms, accounting firms, con...