The Group Managing Director of SystemSpecs Holdings Limited (SHL), Mr. John Obaro, has reiterated the critical role digital inclusion will play when backed with a robust broadband infrastructure and innovative financial technology (Fintech) services.
Speaking at a panel session at the just-concluded Zenith Bank Tech Fair in Lagos, themed “Future Forward 3.0.”, Obaro was joined by CEO of Konga, Prince Nnamdi EKeh; MD, Lidya, Tunde Kehinde; Regional Director, Meta, Stan Martins; and Founder, Bland2Glam, Seyi Banigbe, convened for the second high-level panel discussion, delving into the theme “The intersection of Fintech, eCommerce and SMEs – Collaboration for growth.” The session was moderated by Author and Founder of Headstart Africa, John Obidi.
Buttressing his point with a 2022 report by Disrupt Africa that Nigeria stands as the second-largest fintech market in Africa, boasting an impressive array of over 400 fintech companies, Obaro highlighted the growing trend of digital payments in Nigeria, noting that this burgeoning fintech sector holds immense promise for the nation’s economic prosperity, yet vast untapped opportunities remain within its grasp.
He further elaborated on how this growth is poised to impact the breadth of business operations across diverse industries significantly.
According to him: “Nigeria has made noteworthy advancements in the financial sector, with leading banks like Zenith prominently shaping the landscape of digital payments.
The discernible decrease in incidents of highway robbery, attributed to the diminishing reliance on cash, underscores the transformative influence of electronic payments.
During his speech at the event, Mr. Babajide Sanwoolu, the Governor of Lagos State, lauded the growth of Remita, a product from SystemSpecs, over the years. He remarked: “Emerging from humble beginnings as a relatively unknown concept in 2005, Remita, under the astute leadership of Mr John Obaro and bolstered by my contributions as Commissioner at the time, has blossomed into a global phenomenon, captivating the industry’s attention worldwide.”
In describing the key enablers for propelling business digitalisation across Nigeria and Africa, Mr. John Obaro describes the paramountcy of robust infrastructure, with particular emphasis on ubiquitous broadband connectivity.
He envisioned a future where universal and unrestricted access to smartphones becomes a reality, contemplating the transformative impact of such widespread access.
“As smartphone ownership among Nigerians continues to rise, a more expansive nationwide broadband coverage would greatly empower developers focused on creating solutions tailored to the dynamic and expansive African market,” he remarked.
The SystemSpecs GMD further highlighted the need for collaboration and support of government policies that genuinely contribute to industry growth. He acknowledged the African Continental Free Trade Area (AFCFTA) for simplifying cross-border trade, aligning with his vision of facilitating smoother transactions among African nations.
He described this action as a well-received strategic development critical for creating an environment conducive to digital business development across the continent.
In his concluding statement, Mr. Obaro reiterated the importance of data analytics in the realm of strategic corporate planning to foster digital inclusiveness in Africa.
He posited: “The centrality of data analytics cannot be overstated, serving as a linchpin in the expansion of digital inclusivity and enabling a diverse array of organisations to forge connections with a broader demographic. The strategic deployment of data has, in turn, endowed businesses with the capability to transcend geographical limitations, fostering interaction not only across different regions of Nigeria but also establishing meaningful linkages with global markets.”
