Professional Documents
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SHOKUNBI Opeyemi
There is 49% penetration in Nigeria meaning 1 out of 2 people have access to the internet.
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Mobile Users vs Mobile connections
Enterprises are now opting for cloud which was different 5 – 10years ago.
The past three years have been formative for the Nigerian FinTech sector and saw the emergence
of numerous FinTech start-ups, incubators and investments. Investment in Nigerian FinTechs over
the last 2 years exceeded the $200 million mark.
Techpoint base reported that the value of funding in Nigerian Tech startup in Q2 was $73,685,003
with Fintech having over 66% of the investment.
FinTechs focused on payments were the forerunners. In the next wave, we expect to see more
traction on lending, financial inclusion, blockchain and digital banks. WealthTech and InsurTech
are already emerging and we expect these FinTechs to question the status quo in the wealth
management and insurance sectors.
>Courtesy: http://a4ai.org/affordability -
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report/report/2017/#public_wifi:_a_big_opportunity_to_connect_the_unconnected
Challenges
Poor Strategy Formation and Implementation
Activities Status
May 2017 – Establishment of Digital Literacy Council Done - November, 2017
August 2017 – Establishment of Project Management Office in the Federal
Ministry of Communications (FMoC) Not Done - No record available from FMoC
September 2017 – Review and update national ICT policy Not Done - Available version June 2012 & August 2012
October 2017 – Establishment of Innovation Hubs around the country Not Done
November 2017 – Baseline audit of all departments and agencies under FMoC Not Done - No record
April 2018 – Review and revamp national broadband plan Not Done - Last update September, 2012
May 2018 – Broadcast of high-quality audio and video content using the Direct to
Home (DTH) platform Not Done - No record
July 2018 – National dashboard for Project Monitoring and Tracking Not Done
October 2018 – Upgrade Digital Bridge Institute to a specialised ICT University Not due
April 2019 – Complete repositioning of NIPOST Not due
December 2019 – Achieve improved revenue generation from ICT Not due
Security is the 4th major challenge in Africa after food, shelter and clothing. In the case of Nigeria, It
is top 3 of the challenges facing the country along side visionary leadership and corruption.
With the major security related challenges like kidnapping, rape, armed robbery, etc. The tech space
have the opportunity to solve this unique and precarious problem using technology.
An example is solution developed by a Nigeria startup called Seclot. Seclot is a distress management
platform that sends distress notifications to friends, families and security agencies when one is in a
distress. The Geo-location of the victim will be sent to the ICE(In Case of Emergency) contact setup
on the app, the ICE can chose to be the first responder or escalate to security agencies closest to the
victim.
However, we need more of this solutions to enhance safety of life, properties and image of the
country.
Most notable in the past year was China’s announcement of the New Generation AI
Development Plan, which sets high investment goals in a bid to become an AI leader
by 2030. Beyond AI, China has made strong investments in data centers, cloud
services, big data analytics and IoT to lay the foundations for its smart city initiatives,
which account for nearly 50% of smart cities in the world.
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THANK
YOU
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