Telecom
Karl Toriola: How Telecom Can Propel Nigeria to a $1 Trillion Economy
Karl Toriola, ceo of MTN Nigeria, has said that the telecom’s sector can drive Nigeria towards $1 trillion economy.
He made this statement at the CWG Africa Texcellence Conference 3.0, highlighting the company’s evolution from a traditional telecom provider to a forward thinking technology company.
“The shift Telco to TechCo represents a massive opportunity for Nigeria. By embracing digital, investing in infrastructure and fostering innovation, Nigeria can accelerate its journey toward becoming a $1 trillion economy”, he said, emphasizing MTN’s vision to drive Nigeria’s economy, with a focus on strengthening community connectivity, promoting financial inclusion, and empowering businesses nationwide.
He noted the telecommunications industry’s contributions to Nigeria’s economy, saying “The telecommunication sector has been a critical sector of economic growth in Nigeria, contributing roughly 14% GDP”.
Toriola detailed MTN’s dedication to reshaping Nigeria’s digital future through key initiatives such as SG deployment, advancements in fintech, and the integration of artificial intelligence.
“The telecommunication sector has been a critical sector of economic growth in Nigeria, contributing roughly 14% GDP.
“At MTN Nigeria, we are undertaking a transformative shift from a telecommunications provider to a technology company. While this transition is a significant challenge with its own risks, it presents immense opportunities, especially with the launch of 5G technologies.
“We are moving to revolutionize connectivity nationwide by creating urban centers, providing fixed broadband solutions for businesses and homes, creating a foundation for major advancements”, he said.
The MTN Chief Executive officer highlighted some of the company’s present digital solutions and initiatives contributing to Nigeria’s digital economy, including MoMo PSB, Ayoba and MTN play, while also emphasizing the power of 5G in driving economic development.
“The low latency and high- speed capabilities of 5G open up exciting possibilities in areas such as the internet of Things (IoT) and artificial intelligence (At), expanding our reach into sectors like healthcare.
“Mobile money services are also at the forefront of our transformation from a Telco to a TechCo, as we aim to meet evolving consumer demands and build new business cases in financial solutions”.
He also noted the ongoing construction of MTN’s data center, which will enable the ICT firm to provide extensive infrastructure and storage services for various businesses.
Karl Toriola’s submissions at the Texcellence Conference indicated that MTN’s transition from Telco to TechCo goes beyond business solutions, also forming part of the firm’s strategic efforts to enhance Nigeria’s economic growth.
Telecom
WIOCC, Galaxy Backbone Partner to Drive High-Speed Internet Connectivity Across Nigeria
WIOCC, Africa’s Carriers’ Carrier, has partnered with Galaxy Backbone Limited (GBB), a leading digital infrastructure and shared services provider, in a strategic infrastructure collaboration aimed at enhancing high-speed internet connectivity across the country. This partnership supports digital inclusion and drives Nigeria’s digital transformation.
By combining WIOCC’s extensive wholesale fibre network and expertise with GBB’s national fibre footprint, the collaboration will improve scalability, efficiency and service delivery for businesses and government institutions. It also aims to bridge the digital divide by expanding broadband access to underserved regions and foster partnerships with Mobile Network Operators (MNOs) to advance Nigeria’s digital economy.
A signing ceremony was held at Galaxy Backbone’s Corporate headquarters in Abuja, with Darren Bedford, Group Chief Development Officer at WIOCC and Managing Director/CEO of Galaxy Backbone, Professor Ibrahim A. Adeyanju.
They highlighted the strategic alignment of both organizations in driving digital transformation to accelerate Nigeria’s digital future, setting a benchmark for innovation and connectivity that addresses the evolving needs of Nigeria’s digital ecosystem..
Professor Ibrahim A. Adeyanju stated, “Our mission is to provide robust digital infrastructure that underpins Nigeria’s digital economy. This partnership with WIOCC is a testament to our commitment to enabling digital inclusion and providing a platform for collaboration that transforms how businesses, governments and communities operate in today’s world.”
Darren Bedford added, “This collaboration with Galaxy Backbone reflects our shared vision for driving digital transformation. Together, we are creating a platform for innovation and economic growth that will benefit the country with world-class connectivity.”
Telecom
Schneider Reiterates Commitment to Accelerate Data Centre Market
Schneider Electric, has reiterated its commitment to accelerate growth in the data centre market across East and West Africa regions that have become vital due to rapid digitalisation and increasing Internet penetration.
Commitment on the company’s drive, End User Sales Director, Anglophone Africa, Schneider Electric, Rohan de Beer, said, the African data centre market is witnessing unprecedented growth, creating a fertile ground for resellers and distributors to enhance their capabilities and foster stronger relationships with local end users.
De Beer explained that previously, Schneider Electric relied solely on external channels for market development, which sometimes led to missed opportunities and increased competition.
He noted that the new dual approach adopted by the firm seeks to address these gaps by enabling closer engagement with end users to influence technology decisions and secure a larger share of the market.
He added, “Crucially, these engagements will still be fulfilled through Schneider Electric’s extensive channel network.This strategy allows us to influence project lifecycles at an earlier stage while maintaining our channel-driven fulfilment model,” explained De Beer. “Our goal isn’t to increase direct business but to expand our market presence and share while empowering partners.”
“In addition to self-paced learning resources, we are hosting instructor-led training sessions across the Anglophone cluster. The first half of the year saw successful training completions in East, West, and Southern Africa, focusing on technical solutions for partners and distributors,” De Beer added.
Telecom
Leo Stan Ekeh Highlights Nigeria’s Tech Potential @France–Nigeria Investment Forum
By Tolu Aderemi-Cole
This year’s France–Nigeria Investment Forum, a major highlight of President Bola Tinubu’s visit to France, ended on a sound note and was mutually rewarding for both countries.
For some of us who have attended a few such forums in the past, this year’s edition stands out as the best from a Nigerian perspective, especially because of the organization and selection of relevant, successful Nigerian entrepreneurs who attended.
Though it was a government-to-government outing, the event was largely driven by the private sector, including experienced foreigners who functioned as moderators. In the past, the Nigerian government would showcase CEOs of companies that foreign investors found it difficult to connect with.
Also, this year, Nigeria’s leading women CEOs were presented to the French and global investment communities. I was impressed with the confidence Dame (Dr.) Adaora Umeoji, the CEO of Zenith Bank, Dr. Owen Omogiafor and Jumoke Oduwole, the Honourable Minister of Industry, Trade and Investment exhibited during their respective presentations. This is good for the Tinubu administration and the Nigeria economy and in tandem with emerging global trends where women have been raising the bar in entrepreneurship and leadership.
However, what was exceptional to me as a Nigerian UK-based property investor, was the presentation of Dr. Leo Stan Ekeh, Chairman of Zinox and Konga Group as he was introduced.
He gave a completely different perspective to the event, speaking with confidence on the technology capacity of Nigeria to support foreign investors. He assured the foreign investors of the existence of world-class IT professionals in their thousands who are available to support these investors.
He pleaded with French investors to invest in the educational sector and partner with some Nigerian educational institutions to produce graduates who may become global citizens in the corporate world. It was a great eye-opener for the packed hall as he personally gave an example of what his companies have done in the tech sector for French companies in Nigeria over 30 years ago. Most of these companies had their CEOs present at the event.
Ekeh’s confidence was infectious, and you could gauge the impact of his audacious presentation from the faces of both the foreigners and Nigerians in the audience. I am sure there are many companies with the profile of Zinox and Konga Group that are yet to be showcased to the world.
People left the hall very impressed. Though I was unable to reach him as he had a few persons engaging him, and I left immediately after his presentation, I spent time on Google to check out this Nigerian who presented the Nigerian technology roadmap over 30 years back.
One of his most impactful impressions in his presentation was when he said that you cannot anticipate future investments anywhere in the world without technology as your enabler.
Google revealed a lot about this humble Africa’s leading tech icon. It was a great expose for a Nigerian who pioneered many tech initiatives on the continent. Very touching was what led him to transition Nigeria from analogue petrol dispensing pumps at filling stations to today’s digital dispensing pumps when he was cheated at a petrol station, amongst others.
His profile also mentioned how he lost over $28m in one swoop on an AI and Robotics investment that failed after he acquired the largest warehouse in the city of Lagos to install the intelligent, high-end project over eight years ago.
As I was travelling back to UK, I was reflecting on opportunities that abound in Nigeria. Today, we celebrate Elon Musk, the world’s richest man who has an African background but who made his money outside Africa, but I wager that Musk could not have made as much money if he had stayed back in Africa. Never!
Ekeh’s reason for not hitting the jackpot is that he is operating out of a very limited Nigeria economy with structural challenges and several infrastructural deficits.
The young Minister of Technology and Digital Economy Dr. Bosun Tijani, should be encouraged to produce more Dr. Ekehs to guarantee the future of Nigeria.
Ekeh in his narration talked about how as a young man he returned to Nigeria over 37 years ago with a vision to launch what he called ‘Digital Democracy’ by digitalising elections and electoral processes in the country. He also narrated his effort at consolidation of data through digital census to guide planning and investments to achieve his ambition of promoting Nigeria to the status of an economy the world can trust.
He may have achieved his vision for digital elections with massive tech deployment which his company handled, but I am not sure how he could achieve a trusted economy where 80% of successful persons in the country are in oil and gas, cement, road construction, all brutally controlled by government both directly and vicariously.
Tech is the present and the future, and the Nigerian government must be intentional by patronising and helping to grow indigenous players to ensure they remain competitive on the global stage. I must say that I am proud of Dr. Ekeh and his achievements as a serial tech entrepreneur. His work inspires confidence in Nigeria’s potential. However, the next two years will be pivotal in proving that this progress can be sustained.
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