Nigeria assures investors of prospects

BUSINESS

|
Image: Omobola Johnson Olubusola, nigeria's Minister of Communication Technology. By BiztechAfrica
Omobola Johnson Olubusola, nigeria's Minister of Communication Technology

Nigerian authorities have assured a visiting Indian business delegation that Nigeria is creating a climate conducive to investment and that ICT spend in the country is on a sharp upward curve.

The Indian trade body NASSCOM sent its second mission to Africa this month, to seek out partnerships and investment opportunities. India is investing heavily in Africa, and the Indian government recently pledged to invest hundreds of millions of dollars into African initiatives and training, with up to USD5 billion line of credit.

With up to USD46 billion in trade agreements between India and Africa already in place, India hopes to boost bilateral trade agreements yet further.

As part of the trade initiatives, delegates from 20 ICT companies from India’s National Association of Software and Service Companies (NASSCOM),are visiting Kenya, Nigeria and Ghana from 14 to 22 September.

The delegation led by Dr. Jai Menon, Group CIO, Bharti Enterprises & Director - Global Innovation & IT, Airtel and by Anil Bakht, Managing Director, Eastern Software Systems.

During the Nigeria leg of the visit this week, Nigeria’s Minister of Communication and Technology, Omobola Johnson, said Nigeria encouraged foreign investment. She gave the assurance that she would strive to promote foreign investment into the country without hampering local business.

However, she also called on foreign ICT vendors operating in Nigeria to comply with local regulations to ensure healthy competition.

Dr Jimson Olufuye, President of the Information Technology Association of Nigeria (ITAN), said the ICT sector would grow Nigeria’s GDP to USD900 billion in the next nine years. He said ITAN expected partnerships between Nigeria and India to position Nigeria as the premier outsourcing destination in Africa.

NASSCOM said in a statement that Africa has been one of the faster growing markets worldwide in ICT adoption and has the potential of becoming one of the most important markets for the Indian IT industry.  It says the continent has huge unmet ICT demand, with Africa’s IT market headed for growth to levels of USD26.53 billion in 2011.



Share the News

Get Daily Newsletter

comments powered by Disqus

MORE BUSINESS NEWS

Why govt listed Glo, others as top firms

Nigeria’s national carrier, Globacom and 99 other top notch firms have been listed as top 100 Firms in Nigeria for the 2014 fiscal year. The top 100 companies list is based on international benchmark set by the International Integrated Reporting Council. Read More

Women can lead 21st century ICT industry, says Zinox chief

With the right mix of innovation, business focus, accountability and ambition, women entrepreneurs can spearhead the evolution of the ICT industry in the 21st century, says the Chairman, Zinox Group. Read More

Leading through volatility in Africa

For the businesses that are prepared to face the storm and manage the volatility afflicting the continent, there are still huge rewards to be had from doing business in Africa, says SAP. Read More

American Tower Corporation, Bharti Airtel in Nigerian tower sale agreement

American Tower Corporation and Bharti Airtel Limited have entered into a definitive agreement for the sale of over 4,800 of Airtel’s communications towers in Nigeria.  Read More

Mobile backlog affects revenues

New research shows that a slow approach to app development is increasingly damaging revenue opportunities in the enterprise. The study found that organisations are currently struggling with a significant mobile backlog and unable to cope with business demands. Read More

Kenya courts technology to woo investors

Kenya, East Africa’s lead economic hub, has stepped up its efforts to woo investors through its rigorous incorporation and adaptation of technology to ease business transactions. Read More

‘Prepare for an explosive year ahead’ - Dac Systems

From a technology solution supply and reselling perspective, 2015 is going to be a bumper year, says Dac Systems. Read More

The Business Network is the future

Hyper-connected business networks will extend business processes that used to stop at the walls of the enterprise, and will fulfill the promise of the real-time global networked economy to reduce complexity without sacrificing sophisticated work, says SAP. Read More

Africa SME Champions Forum: creating an ecosystem to support African champions

Didier Acouetey, Gervais Koffi-Djondo, Felix Bikpo, Amadou Kane The Africa SME Champions Forum closed in Dakar last week, but its work in support of African champions is only just beginning.  Read More

Deloitte: Africa GDP to top $3.7 trillion by 2019

Africa’s gross domestic product will grow by 50% to $3.7 trillion over the next five years, says Deloitte. Read More

PRESS OFFICES

Sage ERP AfricaSAP AfricaSage Pastel AccountingTrust PayVMWareSamsung ElectronicsMitsumi DistributionPhoenix DistributionSage HR AfricaMTN BusinessSchneider ElectricMultichoice

FEATURED STORY

GSMA: half a billion mobile subscribers in SSA by 2020GSMA: half a billion mobile subscribers in SSA by 2020

The number of unique mobile subscribers in Sub-Saharan Africa will pass the half billion mark in 2020, says a new GSMA report.

IN DEPTH

Africa lags on digital migration Africa lags on digital migration

Only three African countries have so far completed the digital migration process, and serious issues are hampering the migration in other nations.