ICT

Despite facing many challenges in 2016, the Nigerian telecoms market continues to grow and offers significant potential for investment. With a population of 189m, this substantial consumer base offers a variety of opportunities for mobile operators, broadband companies and content providers. Furthermore, the government’s intention to use telecoms and ICT not only for economic development, but also for financial inclusion, bodes well for the industry. At the same time, the Nigerian telecoms sector is constrained by high costs, general economic uncertainty and an uneven competitive environment. However, the long-term outlook for the market is positive: the country has a young, rapidly expanding population, providing a substantial pool of consumers, and smartphone use and data consumption are expected to increase swiftly over the next five years and beyond. Investment in infrastructure will be key in the years ahead, as well as a more attractive environment for both foreign investors and local start-ups. Despite these challenges, the country has managed to produce some of the continent’s most successful ICT firms, and the sector is expected to emerge as a standout market in the coming years.

This chapter contains an interview with Ayotunde Coker, CEO, Rack Centre.