May 19, 2020

DHL Express reacts to Nigeria's new economy status

Nigeria
Telecommunications
Economy
online shopping
Bizclik Editor
2 min
DHL Express reacts to Nigeria's new economy status

As of this week Nigeria overtook South Africa as Africa’s largest economy, after rebasing calculation almost doubled its gross domestic product.

Nigeria Bureau of Statistics reported that the GDP for 2013 was 80.22 trillion naira, or $509.9 billion, up from the 42.3 trillion estimated before the rebased calculation.

 This makes the Nigerian economy approximately 60 percent bigger than South Africa’s and the 26th biggest economy in the world, up from 33rd before the rebasing.

 According to Charles Brewer, Managing Director for DHL Express Sub-Saharan Africa, the company has long seen the potential in Nigeria’s economy since launching its first Africa office in Nigeria in 1978.

He said: “The growing global interest in Africa as a destination for investment is well documented, due to Africa being home to some of the world’s fastest-growing economies.

“Investor interest in Nigeria has particularly peaked over the years as sectors in the country have diversified due to the growing consumer market and rising middle class.”

 The rebasing GDP data calculation, which hadn’t been amended since 1990, now factor in industry sectors such oil and gas, finance, retail, telecommunications, as well as its rapidly growing film industry, Nollywood.

 Brewer said: “For example, Nigeria’s Information Communication Technology (ICT) sector has grown exponentially over the past five years and with the recent implementation of its five-year National Broadband Plan, Nigeria’s broadband internet penetration is set to increase by 80 percent by the end of 2018.

“This on-going technological growth has resulted in online shopping becoming a way of life for many citizens, and due to the lack of customs challenges and high import tax present within the region, the sector is likely to continue expanding and aiding the country’s GDP growth.”

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Jun 14, 2021

5 minutes with... Janthana Kaenprakhamroy, CEO, Tapoly

Tapoly
Insurance
Leadership
Digital
Kate Birch
3 min
Heading up Europe’s first on-demand insurance platform for the gig economy, Janthana Kaenprakhamroy is winning awards and leading with diversity

Founder and CEO of award-winning insurtech firm Tapoly, Janthana Kaenprakhamroy heads up Europe’s first on-demand insurance platform for the gig economy, winning industry awards, innovating in the digital insurance space, and leading with inclusivity.

Here, Business Chief talks to Janthana about her leadership style and skills. 

What do you do, in a nutshell?

I’m founder and CEO of Tapoly, a digital MGA providing a full stack of commercial lines insurance specifically for SMEs and freelancers, as well as a SaaS solution to connect insurers with their distribution partners. We build bespoke, end-to-end platforms encompassing the whole customer journey, but can also integrate our APIs within existing systems. We were proud to win Insurance Provider of the Year at the British Small Business Awards 2018 and receive silver in the Insurtech category at the Efma & Accenture Innovation in Insurance Awards 2019.

How would you describe your leadership style?

I try to be as inclusive a leader as possible. I’m committed to creating space for everyone to shine. Many of the roles at Tapoly are performed by women and I speak at industry events to encourage more people to get involved in insurance/insurtech. Similarly, I always try to maintain a growth mindset. I think it’s important to retain values to support learning and development, like reliability, working hard and punctuality.

What’s the best leadership advice you’ve received?

Build your network and seek advice. As a leader, you need smart people around you to help you grow your business. It’s not about personally being the best, but being able to find resources and get help where needed.

How do you see leadership changing in a COVID world?

I think the pandemic has proven the importance of inclusive leadership so that everyone feels supported and valued. It’s also shown the importance of being flexible as a leader. We’ve had to remain adaptable to continue delivering high levels of customer service. This flexibility has also been important when supporting employees as everyone has had individual pressures to deal with during this time. Leaders should continue to embed this flexibility within their organisations moving forward.

They say ‘from every crisis comes opportunity’, what opportunities do you see?

The past year has been challenging, but it has also proven the importance of digital transformation in insurance. When working from home was required, it was much harder for insurers to adjust who had not embedded technology within their operating processes because they did not have data stored in the cloud and it caused communication delays with concerned customers at a time when this communication should have been a priority, which ultimately impacts the level of customer satisfaction. This demonstrates the importance of what we are trying to achieve at Tapoly in driving digitalisation in insurance and making communication between insurers and distribution partners seamless. 

What advice would you give to your younger self just starting out in the industry?

Start sooner, don’t be afraid to take (calculated) risks and make sure you raise enough money to get you through the initial seed stage.

 

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