Standford University X-Rays SystemSpecs’ Successes in Software Business

Global attention beamed on Nigeria as Stanford University, California provided a platform for about 40 business leaders in the West-Africa sub-region to analyse the successes of SystemSpecs, Nigeria’s software powerhouse and operator of the Central Bank of Nigeria [CBN]’s payment gateway, Remita.

According to a statement from Emmanuel Kitcher, executive director of Stanford SEED, host of the event, the session will offer the business leaders an opportunity to understand and evaluate the operating model of a fast growing payment technology powerhouse rising out of Africa.

Other areas the business leaders would be focusing on during the session include SystemSpecs’ origin, its transformation journey and the creative and innovative ways through which it has surmounted various environmental challenges.

Kitcher informed that Standford SEED is equally interested in “Systemspecs’ broad outlook for West Africa and for that matter, Africa rising. Of course, we would touch on Systemspecs’ ethical and core values, which have assisted it to excel in Africa’s largest economy”, he said in a statement.

Deremi Atanda, executive director of SystemSpecs, would address the global audience, which in addition to the West Africa business leaders will include the Executive Director of the Stanford Seed, Global Operations Director of the institution, and Professors from the Graduate School of Business, Stanford University and staff of Stanford SEED.

Remita, which is SystemSpecs’ indigenously developed flagship payment technology platform, has significantly revolutionized the electronic payment industry in Nigeria and is at the forefront of the federal government’s efforts to streamline its payments and revenue collection through the implementation of the Treasury Single Account [TSA].

As at December 2015, all commercial banks and over 400 microfinance banks [MFB] in Nigeria had adopted Remita for payments and revenue collections across multiple channels.

According to John Obaro, the visionary founder of SystemSpecs “it is humbling that SystemSpecs a 100% indigenous technology company is the provider of Remita that is powering such a significant national initiative as the FGN TSA. It is also humbling to note that our efforts and commitment to strong ethical values are being discussed as a model for sustainable business in Africa.”

SystemSpecs’ board is led by Dr. Christopher Kolade, the former Nigerian High Commissioner to the United Kingdom.