Monday, October 20, 2025
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Business

Troyka Holdings Chair, Biodun Shobanjo, Inducted into Loeries Hall of Fame

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Zenith Bank, NEM, Seplat, AIICO, Dangote Cement, First HoldCo Recognised as Nigeria’s High-Performing Companies

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Finance Min, Wale Edun, to Keynote FiBOP Annual Confab Oct 18

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Niteon Unveils First African Manufacturers Bank to Unlock $200bn Digital Export Market

Niteon, one of Nigeria's largest digital export marketplaces, has...

FG Boosts MSME Financing with NCGC Initiative

In a bid to boost economic growth and development,...

ICT

Konga Partners Verve to Delight Customers with Free Shopping Vouchers

  Konga, Nigeria’s leading composite e-commerce platform has partnered with...

NCC Spotlights Renewable Energy on World Consumer Rights Day

  The Nigerian Communications Commission (NCC) has concluded arrangements to...

Governors, NCC Set for Broadband Awareness Forum Oct 20

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VerveLife 5.0 Gears Up for Nairobi, Lagos Events

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Telecom Infrastructure Critical to Successful 2023 Elections – Danbatta

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Capital Market

SEC DG: Commission Considering Gradual Implementation of ISSB Standards

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ISSB-Aligned Disclosures Will Lower Capital Costs, Attract Global Investors — SEC

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SEC DG to Cadets:  Invest Early, Long Term to Create Wealth

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Insurance

13-year-old Rhema-Love Abraham Emerges Winner of 2025 Heirs Insurance Essay Championship

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Leadway Assurance: Insurance Company of the Year at 2025 BAFI Awards

L-R: Managing Director, Leadway Assurance, Gboyega Lesi; Publisher, BuisnessDay...

Heirs Insurance Group Announces Inaugural Travel Festival: A Call for Inclusive Travel Ecosystem for Africans

Heirs Insurance Group (HIG), Nigeria’s fastest-growing insurance group, has...

Sovereign Trust Insurance Celebrates 2025 Customer Service Week

Sovereign Trust Insurance Plc has been actively involved in...

Leadway: 55 Years of Innovation, Expanding Financial Access, Inclusion Across West Africa

Leadway, one of Nigeria’s foremost non-banking financial services and...

Business

Troyka Holdings Chair, Biodun Shobanjo, Inducted into Loeries Hall of Fame

Nigeria’s foremost advertising leader and Chairman of Troyka Holdings,...

Zenith Bank, NEM, Seplat, AIICO, Dangote Cement, First HoldCo Recognised as Nigeria’s High-Performing Companies

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Finance Min, Wale Edun, to Keynote FiBOP Annual Confab Oct 18

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Niteon Unveils First African Manufacturers Bank to Unlock $200bn Digital Export Market

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FG Boosts MSME Financing with NCGC Initiative

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ICT

Konga Partners Verve to Delight Customers with Free Shopping Vouchers

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NCC Spotlights Renewable Energy on World Consumer Rights Day

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Governors, NCC Set for Broadband Awareness Forum Oct 20

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VerveLife 5.0 Gears Up for Nairobi, Lagos Events

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Telecom Infrastructure Critical to Successful 2023 Elections – Danbatta

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Capital Market

SEC DG: Commission Considering Gradual Implementation of ISSB Standards

The Director General of the Securities and Exchange Commission...

ISSB-Aligned Disclosures Will Lower Capital Costs, Attract Global Investors — SEC

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SEC DG to Cadets:  Invest Early, Long Term to Create Wealth

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Insurance

13-year-old Rhema-Love Abraham Emerges Winner of 2025 Heirs Insurance Essay Championship

L:R- Funmi Olotu, National Coordinator, National Social Safety-Nets Coordinating...

Leadway Assurance: Insurance Company of the Year at 2025 BAFI Awards

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Heirs Insurance Group Announces Inaugural Travel Festival: A Call for Inclusive Travel Ecosystem for Africans

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Sovereign Trust Insurance Celebrates 2025 Customer Service Week

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Leadway: 55 Years of Innovation, Expanding Financial Access, Inclusion Across West Africa

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UN Report: Local Software Can Spur Development in Africa

Local software production and development can spur economic growth in Africa and other developing economies, says a report by the UN Conference on Trade and Development.
The ‘Information Economy Report 2012’ shows that information and communications technology (ICT) software and services are dominated by the developed world but developing economies are catching up.
It says that piracy, poor ICT infrastructure and inadequate protection of intellectual property rights are some of the major challenges hindering ICT software development and service expansion in developing regions such as Africa.
However, for Africa and the Middle East the biggest challenge to the software industry is limited access to venture capital.
The report urges governments in developing countries – significant buyers of software – to help the software sector by putting in place policy measures to facilitate the development of affordable ICT infrastructure and introducing legal frameworks to protect intellectual property rights.
Enhanced access to ICTs in developing countries is widening opportunities in areas including health, education, governance and business creation and expansion, according to the report.
“Software production can contribute to the structural transformation of economies – that is, wean them away from dependence on low-technology goods and on a limited number of products for export,” the report states.
Kenya and South Africa top the continent in supplying software and services for domestic consumption, with areas of focus being smartphones and tablets, as well as mobile applications driven by mobile broadband Internet services.
“Software development is strategic for Africa’s development as it offers a lot of opportunities,” said Aida Opoku-Mensah, Director of the ICT and Science & Technology Division of the UN Economic Commission for Africa (UNECA), at the launch.
“Adapting software to local contexts helps firms to manage resources better, obtain information more efficiently and [set up] cost-effective business operations,” she said.
Software development in African nations also creates market opportunities for developers and boosts learning, innovation and job creation in those countries, she explained.

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Topics

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The recovery in the Nigerian private sector gathered momentum...

CTO Appoints First Regional Advisers

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Ecobank Customers Now Enjoy Zero Charge for Digital Money Transfers Below N5,000

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Nigeria’s Democratic Success: Time for Greater U.S. Engagement

The United States needs to act fast, wisely and comprehensively to shore up and strengthen its relations with Nigeria following that country’s recent successful national elections. Nigeria’s presidential and gubernatorial elections (held respectively March 28 and April 11) were a political triumph for the people of that country as well as for the continued positive trajectory of democracy across sub-Saharan Africa.
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