This chart shows why GTBank is Nigeria’s leading bank and Union Bank Plc may not see another decade. When you look deeper, you will agree that GTBank has the best cost-to-income ratio in the industry.
OEMs in Nigeria form Certified Computer Manufacturers of Nigeria (CCMON) advocacy
Major leading Original Equipment Manufacturers (OEMs) in Nigeria have come together to form a body that would further strengthen local content advocacy in the country.
According to the OEMs, which included BRIAN Integrated Systems, BETA Computers, OMATEK computers, VEDA Technologies and ZINOX Technologies, formed a body known as Certified Computer Manufacturers of Nigeria (CCMON).
The coordinator of CCMON, Bode Pedro, who is also the Chief Executive Officer of VEDA Technologies, said that the coming together of the firms have been in the pipeline for quite some time but that the right time has come for it, especially now that there is renewed impetus from the government towards the support and growth of local content in ICT.
The main objectives of CCMON, according to Pedro, included working with all relevant stakeholders to grow the capacity of Nigeria computer manufacturers that will generate increased employment, strengthening the Naira and ensure the growth of local economy.
Mobile gaming to grow 16% CAGR in Nigeria – PwC
According to a report by PwC, a consultancy, the Nigerian market is dominated by social/casual gaming, eclipsing fledgling revenues on more expensive devices like consoles and Personal Computers (PCs). It disclosed that the mobile gaming market has flourished and in 2014, with social/casual gaming revenue accounting for 7.7 per cent of total video game revenue at $70 million. Yup, the the gaming monitor of choice is changing, to everyone’s surprise it is becoming smaller!
According to PwC, this will increase further to $147 million in 2019, at a CAGR of 16.1 per cent. “At this time, social/casual games will comprise 8.4 per cent of total video game revenue in Nigeria, driven by greater ownership of mobile devices than of consoles and PCs. Video game advertising revenue remains non-existent in this market.”
UK’s CDC invests EUR50M equity investment in Jumia parent company, AIG
CDC, the UK’s development finance institution, recently announced a EUR50m equity investment in Africa Internet Group (AIG). AIG is the parent company of Jumia, Africa’s leading e-commerce firm, as well as nine other online consumer businesses operating in 23 countries across the continent.
AIG currently connects more than 50,000 local and international companies with millions of African consumers. CDC’s capital will help AIG improve its existing operations and expand into new countries.
The companies in the group have a significant job-creation potential, particularly those businesses that involve the delivery of a physical products. Jumia Group already has over 4,000 employees and it is expected that Jumia Services (formerly AIG-Express), the logistics business within the group (and already one of Africa’s largest logistics firms, delivering over 4 million orders in 2015) will generate thousands of new delivery jobs by 2020.
In addition to direct employment, AIG operates a network of 30,000 sales agents, the “J-Force”. Currently largely Nigeria-based, the J-Force is expanding into other countries, with numbers of agents expected to grow to over 100,000 by the end of 2017.
Online marketplace businesses can also play an important role in providing access to new customers for local vendors. Kaymu, an online marketplace focused on smaller sellers, enables these vendors to develop their businesses by providing them with access to a nationwide market for the first time. Most sellers on the Kaymu platform are micro and small businesses – often people who had previously been market traders. Several thousand of these small firms actively trade on the platform every month and as they grow so do the number of jobs they provide.
Other services offered by Africa Internet Group include websites offering food delivery (Hellofood) and hotel booking (Jovago), as well as online classified ads for general merchandise (Vendito), real estate (Lamudi), jobs (EverJobs) and vehicles (Carmudi).
Nigeria’s telecom regulator is displacing the oil counterpart as the country’s piggy bank
This is fascinating – Nigerian Communications Commission(NCC) is replacing NNPC as Nigeria’s cash cow.
The Nigerian Communications Commission noted that it remitted N70 billon into the Federation Account in the last one year.
“This is in addition to the N30 billion paid by MTN Nigeria as a part payment of the N330billion fine slammed on it by the commission.
Yakubu Musa, Special Assistant on Media to the chief executive of the commission, made this known in a statement released in Abuja on Monday