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‘Nigeria, others need high tech mobile infrastructure to boost growth’

By Adeyemi Adepetun
22 July 2015   |   11:35 pm
INCREASED investments in relevant new technologies like mobile, cloud and big data analytics that offer advance solutions and services are essential for Nigeria and other West African countries socio-economic development.     In all sectors of the regional economy, these advanceFMDQ OTC PLC has announced the firm's plan to integrate the FMDQ Bloomberg E-bond system to…
a kid using an ipad computer. Photo: Image source cicsbucktown

a kid using an ipad computer. Photo: Image source cicsbucktown

INCREASED investments in relevant new technologies like mobile, cloud and big data analytics that offer advance solutions and services are essential for Nigeria and other West African countries socio-economic development.
   
In all sectors of the regional economy, these advanceFMDQ OTC PLC has announced the firm’s plan to integrate the FMDQ Bloomberg E-bond system to the CBN’s S4 system.

This, according to the Divisional Head, Operations & Technology,Dipo Odeyemi would facilitate straight-through-processing of transactions on the platform.

Besides,he noted that plans are underway to ensure the listing of all bonds on FMDQ’s platform as a choice platform given the value-adds on the securities exchange, introduction of fixed income specialists to provide liquidity to non-FGN bonds technologies allow economies and companies to ensure the integrity of their data assets, providing them with hitherto unseen levels of data mining capabilities, which allow them to derive fresh insights and business intelligence from these data.
 
These points were made by the Country General Manager for IBM, West Africa, Taiwo Otiti, on the sidelines of the HR Leaders Africa Summit held in Lagos at the weekend.
 
He noted that the adoption of mobile and other technologies are one area public and private sector organizations need to look at with a view to injecting efficiency and new performance levels in their operations, adding “for African countries, new technologies allow the continent’s businesses and people to leapfrog through development stages/phases.”
 
He buttressed this point by referring to Nigeria’s adoption of mobile technology over the last 12 years which has become a showcase of how well technology can help transform economies.
   
Recalled that the Nigerian environment struggled with barely 500,000 telephone lines as at the end of 2001, today, its fast adoption of modern cellular and other wireless technologies, the country boasts the largest online market for apparel and footwear in Africa, which is expected to grow from $104 million in 2014 to $1billion in 2019, according to Euromonitor International Data.
 
Only last week, Nigeria’s National Bureau of Statistics has put the subscriber base of the mobile telecommunications sector at 143.05 million as of the end of the first quarter of 2015. But as at May, the country, which has 104 per cent teledensity, now has 145 million connected telephone lines.
   
According to Otti, as the leading regional economy, the continuous advancement of enterprises in the nation’s public and private sector was crucial for growth. He explained that IBM is helping African businesses, governments, NGOs and innovators recognize the power of big data and the unique opportunities before them to leap-frog their counterparts from more developed nations. 
   
In Ghana, the mobile market also continues to witness gradual progression notwithstanding the slow pace of macroeconomic growth.  A recent study, “The Mobile Africa 2015” report, conducted by mobile surveying company GeoPoll and World Wide Worx, has shown that 51 per cent of Ghanaians with mobile phones now use them to access the Internet.
 
Otiti said that mobile technology has been adjudged to be the most powerful communications platform throughout the Middle East

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