- · Trendsnafrica has urged the Indian government to strategizeits entry plan to African Continental Free Trade Area (AfCFTA) to be amajor stakeholder in the emerging architecture
- · The webinar was jointly organised by www.trendsnafrica.com,ESC, the Nigerian Association of Small and Medium Enterprises ( NASME) and the League of Akwa Ibom Professionals, (LAKPROF) .it was also supported by the Economic Community of West African States (ECOWAS), which is an association of 15countries in the West Africa
Trendsnafrica has urged the Indian government to strategize its entry plan to African Continental Free Trade Area (AfCFTA) to be a major stakeholder in the emerging architecture.
While speaking at a webinar jointly organized by www.trendsnafrica.com and Electronics and Computer Software Export Promotion Council (ESC) on ICT Opportunities in Africa with a special focus on Nigeria yesterday, Sheila sudhakaran, Editor,www.trendsnafrica said that Africa as a continent provided a bountiful of opportunities for the Indian ICT enterprises to partake in the development process.
The webinar was supported by the Nigerian Association of Small and Medium Enterprises ( NASME) , the League of Akwa Ibom Professionals, (LAKPROF) and the Economic Community of West African States (ECOWAS), the association of 15countries in the West Africa.
Welcoming the virtual summit participants Mr. Naruala said that ESC’s effort to enhance the focus on Africa should be seen against the backdrop of launching of African Continental Free Trade Area (AfCFTA), which would become operational from 1st January 2021. “ Billed as the largest trading bloc in the world, the continental market consisting of 54 countries with a gross GDP over US$ 3 trillion and 1.3 billion people could give Indian businesses, among other things, a strong and vibrant market for ICT products,” he said, adding that ESC, will leverage the two MOUs and its association with ECOWAS to expand its network in Africa.
Mr. Narula said that ESC’s Africa focused strategy would look at meaningful engagements in software development, electronics and hardware and the country’s growing strength in cutting edge digital platforms, devices, and Apps using artificial intelligence, machine language, cloud computing etc. Also, India could be a reliable ally for Nigeria in developing ICT focused skills and training tools for the Nigerian youths.
The ESC chairman invited the participation of the Nigerian ICT businesses in the forthcoming events of ESC- global exhibitions on IoTs and the 21st edition of Indiasoft, which would have global assemblage of buyers and sellers in the ICT sector and would take place in February/Marcy 2021 in the virtual format.
Addressing the webinar Mr. Abhay Thakur, High Commissioner of India in Nigeria said that Nigeria offered tremendous scope for Indian ICT companies to join hands with their Nigerian counterparts in that country for developing digital infrastructure like unique identification metrics, e-commerce platforms, e-governance platforms, e-learning etc. “ A number of startups in the ICT sector are coming up in Nigeria, which provides an opportunity for Indian small companies to handhold with the Nigerian enterprises,” he said and added that Indian companies like L&T, Tejas etc involved in large projects in the ICT sector in Nigeria and could grow manifold due to the English language advantage shared by people of both countries.
Mr. Thakur said that the India-Nigeria trade was on the upswing in recent years mainly due to India’s large import of oil. The recent developments in the ICT sector in Nigeria could be an enabler in pushing up trade, which has now grown by 20% in 2019. Nigeria, he said, though is the most populous and developed country in the region, has a small-government budget. That means 90% of the economic activities are carried out by the private sector. “ It’s a unique situation for Indian private sector to make their strong footprints in the expanding Nigerian market, focusing also the countries in the West Africa, which include the French speaking countries also. He also underscored the need for Indian ICT companies to bid for the ICT works of large Nigerian corporations in petrochemicals, cement and agribusiness.
The webinar was attended by over 35 Indian ICT businesses and an equal number of Nigerian businesses. In the B2 B session, the businesses were introduced to each other to enable them to continue with their extended business dialogue.
Dr Enobong Umoessien, Director, ECOWAS said that the Covid-19 pandemic has brought about a transformational shift in the Nigerian economy. Now, more and more people are using digital backbone for marketing, e-governance and other technology platforms. That also provided an opportunity for Indian companies to increasingly engage not only in Nigeria but also the entire West African region.
Mr Prince Deun Agboade and Sir Ini Ak pabio stressed the need for SMEs from both countries coming together to work in building ICT capacities in Nigeria.
Mr. Sanjay Nayak , CEO and MD of Tejas Network , India made a presentation on the penetration of their network in Nigeria and how other Indian ICT companies could benefit from investing in Nigeria.
Mr. Gurmeet Singh, Executive Director, ESC in his address observed that ESC would focus on Nigeria and would use that gateway to reach out to other countries in Africa.
