ICT Can Rescue Nigeria from Dwindling Oil Revenue-Report

Information communication technology (ICT) experts have said that ICT investments addressing African market realities will fuel GDP growth in key African countries, as 2014 winds down and countries largely dependent on oil and gas count losses.

They said that ICT growth will be a strong driver of GDP growth in key countries such as Kenya, Nigeria, and Rwanda, with mobile services penetration, financial inclusiveness initiatives and government service delivery driving ICT spend in the telecommunications, financial services, and government verticals.

Mark Walker, regional director, Sub-Saharan Africa, IDC Middle East, Africa and Turkey;  Lise Hagen, research manager, Software and IT Services (Africa); and George Kalebaila, senior research manager for Telecoms and Media (Africa), all representing IDC;  predicted that governments with relevant and effective national ICT policies will begin to dominate the economic landscape.

The report contained that, “Increased government policies and relevant processes that favour ICT activities in the society will have a significant impact in countries such as Nigeria, Kenya, Rwanda, and Egypt where policies increase ICT awareness and access device penetration, improve service platforms and boost 2015 infrastructure developments.

“2015 heralds the battle for the SME market in more developed African markets: While a variety of ICT providers have made concerted efforts to tap into the SME market in recent years, 2015 heralds the open battle for the SME market, where telcos will be strongly positioned to leverage their existing relationships with this segment”.

Technology will help breach intra-Africa trade barriers by removing obstacles, increasing efficiency and encouraging transparency:

IDC anticipated that 2015 will see closer intra-Africa trade facilitated by ICT initiatives such as payment systems, financial inclusion initiatives, and cross-border payments.