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

Africa’s youngest entrepreneurs stand to win $75,000

The Anzisha Prize is expanding, after initial success, to provide increased support to entrepreneurial youth and partner organisations to drive pan-African economic growth to 2020. Read More

New age e-commerce consumers challenge traditional business models

African consumers are increasingly searching online platforms with commercial intent, says DHL. Read More

VMware appoints Bask Iyer as chief information officer

VMware has announced the appointment of Bask Iyer to the role of senior vice president and chief information officer (CIO) of VMware. Read More

SpeedCast acquires Geolink

SpeedCast International Limited, a leading global satellite communications service provider, has announced the acquisition of Geolink Satellite Services, a leading provider of satellite communications solutions in the African region. Read More

Out of the Dark: Survival guide for businesses during load-shedding

As Africa’s premier integrator of business continuity services, ContinuitySA’s team spends a lot of time identifying risks and how to mitigate them. One risk that has become very real for South African businesses is load-shedding.  Read More

Insurance body: ICT essential

The newly established Insurance Institute of Botswana (IIB) says in this day and age it was virtually impossible for organisations, insurance companies included, to operate without incorporating ICT in every facet of their operations. Read More

VMware appoints Scott Dodds as new Vice President, Channel and Alliances in EMEA

VMware, the global leader in virtualisation and cloud infrastructure, has announced the appointment of Scott Dodds as Vice President of Channel and Alliances in Europe, Middle East and Africa (EMEA). Read More

IHS Towers awarded Telecom Finance Deal of the Year

IHS Towers, Africa’s leading independent mobile telecommunications infrastructure provider, has won TelecomFinance’s 2015 award for Deal of the Year.  Read More

Moving from doer to influencer – the shifting role of the CIO

The role of the chief information officer (CIO) has evolved over the past few years, with CIOs no longer just the decision makers for IT systems.  Read More

World market for refurbished smartphones to reach 120m units by 2017

The worldwide market for refurbished phones that are sold to end users will grow to 120 million units by 2017, with an equivalent wholesale revenue of around $14 billion, says Gartner. Read More

PRESS OFFICES

Sage ERP AfricaSAP AfricaSage Pastel AccountingTrust PayVMWareSamsung ElectronicsMitsumi DistributionPhoenix DistributionMTN BusinessSchneider ElectricMultichoiceMicrosoft 4Afrika

FEATURED STORY

Malawi Govt denies clinging to ‘Cashgate’ softwareMalawi Govt denies clinging to ‘Cashgate’ software

The Malawi Government will not exclude the software brand that has been in use for the country’s Integrated Financial Management System (IFMIS), but it has rejected reports implying that it is ‘clinging’ to the old system.

IN DEPTH

Kenya’s digital TV battle hots up Kenya’s digital TV battle hots up

Kenya’s journey to Digital TV broadcasting took a new turn this week, when the Communication Authority of Kenya (CAK) accused three local media firms of intent to disrupt the process.

COMPANY NEWS

VMware unveils vCloud for NFV with Integrated OpenStack to accelerate service innovation

VMware, the global leader in virtualisation and cloud infrastructure, today debuted VMware vCloud for NFV, an integrated Network Functions Virtualization (NFV) platform that will combine VMware’s production-proven ...