Because the African continent is predicted to witness a significant digital disruption in the subsequent decade, starting from this yr, high chief executives in Nigerias Info and Communication Know-how (ICT) industry share their ideas on what to anticipate this yr.
It ranges from probably know-how improvements, instruments, gadgets and tech-related providers which will dominate the industry this very yr.
Beneath are the highest 7 predictions for Nigeria’s tech area in 2020:
Ngozi Dozie, Co-founder of Carbon (a full digital monetary service platform operated by One Finance & Investments Ltd)
- The re-emergence of QR codes – QR codes should not essentially new however we have now seen a number of monetary establishments driving service provider adoption in latest months. All of the banks have already got it as a channel however adoption amongst retailers has not historically been nice. Nevertheless, if banks and fintechs can drive vital adoption amongst retailers and educate the market on the advantages, the chance may very well be enormous.
- Cryptocurrencies – That is one other one which has been right here for some time however as volatility reduces, we envisage vital development in the approaching yr. Much less for hypothesis for FX buying and selling and extra to be used instances like cross-border funds for merchants/retailers and funds for things like college charges and medical payments.
- APIs and FinTech collaboration – APIs make it simpler to develop merchandise extra collaboratively. Because the know-how panorama throughout the continent matures, fintechs must collaborate and leverage off each other’s strengths to outlive the onslaught of well-capitalized and resourced competitors.
- The rise of healthtech/insurtech – With a rising center class and higher entry items and providers, we will anticipate industries that make it simpler for us to safe and defend the things which might be vital to us to develop. Rising industries equivalent to healthtech and insurtech (insurance-tech corporations) have an incredible alternative to handle a few of the challenges going through us as a nation and there may be additionally nice demand for these providers
Uzoma Dozie, CEO, Sparkle (a full way of life/monetary platform for digital natives)
5. Close to Area Communication (NFC) – In 2020, NFC goes to be transformative. Faucet and Go is the long run, and efficient of 2020, all playing cards have to be NFC-enabled in Nigeria. It signifies that the Oyster initiative that basically remodeled digital funds for transport in London and commerce, particularly in retail in the UK, will probably be seen right here.
What does that imply for shoppers? Rather a lot, particularly with the appearance/coming (for these which might be atheist) of the Cashless Nigeria coverage, which can put burdens on Company Companies to play a higher and extra progressive function in digitizing their worth chain.
NFC playing cards with frequent requirements successfully signifies that smartphones with NFC capabilities and with digital card apps put in will also be used in contact and go funds. This additionally signifies that customers pays each other by touching their cellphones too.
Improvements equivalent to these, as soon as normalised and given the infrastructure they should develop in phrases of utilization, will facilitate an enormous rise of digital person-to-person funds, the final bastion the place money sways sturdy.
Obi Ozor, CEO/Co-founder, Kobo360 (Africas leading world logistics agency)
6. Extra investments in transport infrastructure and commerce information seize – With Nigeria signed as much as the Africa Free Commerce Settlement (AfCFTA), which ought to come into impact later this yr, the broader adoption of know-how will make sure the settlement reaches its full potential.
Facilitating the AfCFTAs aim to combine Africa would require a better acceptance of know-how from all the weather in the provision chain, which won’t solely assist to cut back the price of shifting items and improve effectivity, but additionally assist increase the financial system in Nigeria and past.
Companies, from SMEs to giant firms, will now have the ability to increase their buyer base to different markets exterior of Nigeria like by no means earlier than. This can in flip improve investments in transport infrastructure and commerce information seize, which can help authorities our bodies to enhance the infrastructure that may support the success of the AfCFTA throughout key African markets, together with Nigeria.
7. Blockchain – Additionally, this yr I imagine much more forward-looking firms in Nigeria will use rising know-how to remodel the best way they do enterprise, most particularly blockchain.
From a logistics perspective, this will probably be essential for buying and selling throughout the continent, and for that reason, Kobo360 is constructing a blockchain-enabled platform – referred to as International Logistics Working System (G-LOS) – which can mix all actions in the lifecycle of the Provide Chain ecosystem into one sturdy system and join logistics throughout Africa.