General News
BCX Is Redefining IT Solutions Adoption in Africa-McAlpine

Ian McAlpine is the managing director for Business Connexion in Nigeria. He holds an MBA from Oxford Brooks University, an ITIL Foundation Certification, and an Institute of Marketing Management Diploma in Marketing Management. He has also completed the GIBS/UCS Senior Management Development Programme. McAlpine has been in the IT industry since 1998 and has gained a wealth of valuable experience in project management, client service management, business development, marketing, product development and procurement. Much of this experience has been at executive level and across various African territories; most recently, Ian served as Sales Director for multinational IT Services Company, where he was responsible for sales across the sub-Saharan region. He spoke to peter ugwu on the Company’s mission in Nigeria and other issues in the Nigerian and African IT market.
Business Connexion Mission in Nigeria
Our mission in Nigeria is to enrich communities by making the impossible possible, through technology.
We have a passion for making a difference in people’s lives and we thrive on making the seemingly impossible happen.
We do this by delivering exceptional value propositions to our stakeholder communities whether it is business communities, consumer communities, citizen communities or geographical communities.
The Business Connexion Group is an African based ICT company with over 7000 employees.
We operate in many countries in Africa. We have been in operation in Nigeria for over 5 years, employing more than 140 people and have made significance investment in empowering infrastructures.
We launched our locally hosted cloud offering a year ago and are delivering fully-functional, leading-edge cloud platforms and services into the Nigerian market and out of Nigeria.
Plans for Small Scale Businesses
Nigeria has a well-established and sophisticated Enterprise market and a very large Small Medium Enterprise market that is well positioned to deliver value to their customers.
Lack of infrastructure and IT systems could be an inhibiter for growth. They require collaborative services; proper emailing, document management and seamless integrated communication.
We also believe that the market has quickly adopted the concept of cloud computing. The two offerings launched at the start of last year are Infrastructure as a Service (computing on demand) for storage, Disaster Recovery and enhancing capacity and Software as a Service.
The Cloud Service Broker model we have deployed allows for fully automated self-provisioning of services as well as an integrated payment gateway.
Cloud Computing Adoption in The Market
Looking at the measures we have adopted, the same level of security we provide for our large customers, we replicate that in other sectors.
This is not just in Nigeria; it is in the character of our Company to offer our customers the ultimate and authentic security, because that is how businesses’ confidence can grow. We are not providing the services from outside the shores of the country; we have made the investments in building the infrastructure in Nigeria.
We are taking a different approach. People sometimes question the security of Cloud offerings but, in many instances use the rudimentary email services provided by the likes Yahoomail, Gmail, etc., those emails are not hosted in Nigeria, rather in the cloud all over the world.
However, our offerings are ultimately indigenous. So, people are already used to it, but we are making a difference in the sense we have localized the cloud computing.
Plans for Data Centre
We are hosting the solution in a state of the art Tier III data centre located in Ikeja, Lagos. We are also able to offer colocation rackspace in the data centre for the hosting of private cloud infrastructure.
Business Connexion listed as a Gartner Cool Vendor for providing innovative IT solutions
Business Connexion has made the list of Gartner Cool Vendors in Emerging Markets Worldwide for 2013. This is for its innovative products and services relating to data, cloud services, software infrastructures, applications and outsourcing.
Each year Gartner, the world’s leading information technology research and advisory company identifies new Cool Vendors in key technology areas and publishes a series of research reports highlighting these innovative vendors and their products and services.
ICT businesses who transform the way businesses operate and get consumers to engage with technology are what Gartner calls Cool Vendor. According to Gartner, “Cool Vendors in 2013 are exploiting the Nexus of Forces of cloud computing, social, mobile, and information to challenge long-held assumptions and significant investments in traditional ICT.
As Africa’s largest provider of data centre and customised cloud computing services, Business Connexion’s title as a Cool Vendor reinforces its services and innovations and the continued impact they have in Emerging Markets.
The Cool Vendors report was started in 2004, and has since profiled more than 1,800 Cool Vendors.
Focus On Africa
We believe in this market and have seen the future as bright. If you look at other markets, majority of them are established with relatively low growth rates.
Looking at Africa and the opportunities and growth rates, Business Connexion found them tremendous. Any company thinking of growing its businesses exponentially will think Africa. At the same time, our focus hangs on our motives for skills development in the markets.
Aside that, we are providing platforms that will stimulate new businesses and innovations. We believe that Africa will need to rapidly close the digital divide.
It is not about trying to catch up with the rest of the world, it is about being able to leapfrog ahead in a way that is dynamic, innovative and cost effective.
I believe that the driver for cloud will come from this requirement. Cloud allows you to be dynamic and accessible. Cloud allows you to function straightaway.
I think the focus on cloud is all about how it is an enabler, the potential in the economy and breaking of barriers.
Trends In The Nigerian Market
For us the shift is away from providing predominantly commodity based technology solutions. It is no longer about buying technology and negotiating on price alone, to having value based discussions about technology being an enabler for future growth.
When we talk to our customers, we talk less about a particular technology, but rather about business vale. When we see the opportunities in the market, we ask ourselves how we can help our customers benefit from the opportunities that are presenting themselves.
How will they grow from that and what do they need to achieve that; it is about business discussions, and then the technology will follow.
In the age we are in, everything is possible with technology. If you have the right business focus and understand of how to best serve your customers, technology can be customized and deployed to support your strategy. You must understand your business first and not the other way round.
Is it not expected that every company should own a data centre or keep spending scarce resources on buying equipment.
As far as data management is concerned, we share the infrastructure and leverage on the benefits.
Local Content Development
If you look at our business, we have over 140 people working for us, and we look forward to employing far more.
Our philosophy has always been to introduce new technology and offerings and to employ and train staff locally to deliver these offerings.
We are creating the atmosphere of running Nigerian business with Nigerians. We have seen significant outputs in our skills development strategy.
Also, if you look at the technology trends, there is a skills shortage, globally. So we have to develop the skills to tackle local challenges.
Business Connexion, however, treasures the development of appropriate skills; people who can compete at the international technological level.
BCX 2014 Expectations
This market, and Africa as a whole, has witnessed tremendous improvements and growth. We see Nigeria becoming the biggest economy in Africa, capable of taking over from South Africa. In fact, our next biggest operation, after South Africa is Nigeria.
Our vision in the short term is for Nigerian potentials to be harnessed for the growth of businesses and the economy.
It is unimaginable how significant the information technology sector would rub-off on the economy.
Most of the Nigerian government revenue comes from the oil & gas, but we have seen a lot of potentials in other sectors like the manufacturing, retail industry, agriculture, mining, et cetera. We feel the sectors will thrive better as technology permeates their operations.
Expectations from Governments
Certainly, the government has shown its commitment to closing the digital divide with the adoption of the new broadband plan.
We are happy with the policy, because it is what the industry needs at this point. Essentially, it will help in addressing the infrastructure challenges.
The measure will definitely reassure investors of government’s concern, especially when implemented.
Also, we have different cables coming into the country; four are already there with the fifth coming on board.
The challenge has been on how to provide last mile connectivity. Obviously, where we are seeing the future is on wireless and mobile, yet there is need for easy-to-connect fiber network. However and ultimately the stride will help telecom companies work together.
A situation where different companies are laying different cables almost on the same spots does not make business sense. You cannot achieve success or values by working separately.
There must be a structure that enables collaborations. The other area I think government is focusing on is how to make the market attractive for technology growth.
It is on that ground that companies like ours would see the efforts of developing local talents pay off; a situation where locally developed applications solve local needs.
Plans For Acquisitions
Business Connexion is notable for its acquisition strategies. Our goals are targeted at enhancing the business level of any entity we acquired. So, in 2014, we are hopeful on acquiring more businesses.
It may be in the form companies’ developed applications, specifically, for a particular market.
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General News
CBN Has Not Published Annual Financial Statements Since 2022 despite Legal Requirement

Central Bank of Nigeria (CBN) has yet to publish its annual financial statements beyond the 2022 financial year, despite legal provisions requiring the apex bank to release its audited accounts annually.

An annual report is a comprehensive report on a company’s activities throughout the preceding year.
Annual reports are intended to give shareholders and other interested people information about the company’s activities and financial performance.
The most recent annual report and financial statements of the CBN available to the public remain those for the 2022 financial year.
Under Section 50 of the Central Bank of Nigeria (CBN) Act, the bank is required to prepare, submit and publish its audited annual financial statements.
Section 50(1) stipulates that the CBN must transmit its annual accounts, certified by an external auditor, to the President and the National Assembly within two months after the end of each financial year.
Section 50(2) further provides that the annual report submitted to the President and the National Assembly should be published in a manner determined by the CBN Governor, while Section 50(3) mandates the CBN Board to ensure the accounts are published in the Federal Government Gazette as soon as possible.
Despite these statutory requirements, the apex bank has not made public any annual financial statements after the 2022 reporting year.
The development comes after the CBN, on August 11, 2023, released its consolidated financial statements covering seven years the first such publication since 2015.
President Bola Tinubu appointed Olayemi Cardoso as Governor of the CBN on September 15, 2023, following the removal of former Governor Godwin Emefiele in June of the same year.
Emefiele is currently facing trial over alleged corruption-related offences.
Last week, the Supreme Court ordered the final forfeiture of several of Emefiele’s properties, along with $2.045 million in cash.
General News
Dangote Refinery Completes Landmark $2.5bn Private Equity Placement

Dangote Petroleum Refinery and Petrochemicals has successfully completed a landmark US$2.5 billion private equity placement, in what is believed to be Africa’s largest publicly disclosed primary equity private placement by value.

This marks a major milestone in the company’s long-term expansion strategy.
In a statement issued on Thursday, the company said the offering was 3.7 times oversubscribed relative to its initial offer size, reflecting strong investor confidence in the refinery’s growth prospects and resulting in the issuance and allotment of approximately US$2.5 billion in new equity.
The fundraising follows the recent equity capital raise in which existing investors expanded their holdings alongside new institutional investors, strengthening the refinery’s capital base to support its next phase of growth.
According to the company, proceeds from the private placement will finance the continued expansion of its refining and petrochemical operations, reinforce its capital structure and enhance financial flexibility for future investments.
The transaction attracted broad participation from international and African institutional investors, sovereign-related investment vehicles, development finance institutions and long-term strategic partners.
Among the key investors were the Africa Finance Corporation (AFC) and India Infra Buildco, an investment vehicle facilitated by the African Export-Import Bank (Afreximbank). The offering also drew participation from a diverse mix of institutional and individual investors, underscoring strong market confidence in the refinery’s long-term strategy.
Chairman of Dangote Petroleum Refinery and Petrochemicals, Aliko Dangote, described the successful capital raise as a strategic move to deepen and institutionalise the company’s shareholder base while complementing internal cash flows and external financing.
“This further demonstrates our profound commitment to developing domestic refining and petrochemical capacity, reducing Africa’s reliance on imported refined products and strengthening the continent’s energy security,” Dangote said.
Managing Director and Chief Executive Officer of the refinery, David Bird, attributed the strong investor response to the company’s operational performance and leadership.
“The exceptional demand we saw is a testament to our operational excellence, execution capacity, and investor confidence in DPRP’s leadership,” he said.
Following the completion of the transaction, the company said it is well positioned to continue executing its long-term growth strategy by expanding world-class refining and petrochemical capacity while strengthening Africa’s energy security.
General News
Three Entrepreneurs Secure ₦5 Million at The Gathering on 100 Pitchathon

Once again, The Gathering on 100 Pitchathon has rewarded some of Nigeria’s most promising young entrepreneurs, with three startups sharing ₦5 million in funding.

Pitchathon
The pitchathon took place at the Abuja edition of the Gathering on 100 held between July 18 and 19, at This Day Dome, Central Business District, Abuja.
The competition brought together founders from different sectors to pitch their businesses before a panel of judges.
The Pitchathon remains one of the most sought after experiences at The Gathering on 100, an MTN Nigeria initiative that connects young Nigerians with opportunities for entrepreneurship, innovation and personal development.
Omolola Rebecca, founder of Agrovest, emerged overall winner, receiving ₦2.5 million for her agritech solution, which provides funding for farmers to improve access to capital and boost agricultural productivity.
Reacting to her victory, Rebecca said the recognition would give her business greater visibility and open doors to more investors. “Winning this competition means more people will notice what we’re building.
“It puts Agrovest in front of potential investors and partners, and gives us the opportunity to grow our impact by supporting even more farmers,” she said.
The second prize of ₦1.5 million went to Agbo Obinnaya, founder of Case Radar, a legal technology platform that uses generative artificial intelligence to simplify access to legal services in Nigeria.
The platform enables users to obtain legal guidance, understand legal documents and connect with legal professionals through a single digital platform.
Abdulmuiz Adam secured third place and ₦1 million with WaveBudget, a fintech platform that combines savings and responsible financing.
The platform allows users to save towards financial goals, access buy now, pay later services through partner merchants with a 50 per cent down payment, and manage their savings in one place.
Presenting the prizes to the winners, Lanre Coker, Manager, Customer Acquisition and Compliance, North-West, MTN Nigeria, said the initiative reflects MTN’s commitment to supporting young Nigerians with the resources they need to grow their ideas into sustainable businesses.
“The Gathering on 100 is about helping young Nigerians achieve the height of their endeavours, whatever they may be.
“We know there are brilliant ideas across the country, and through initiatives like the Gathering on 100, we are creating opportunities for innovators to access funding and the confidence to keep building,” he said.
The Abuja edition builds on the success of previous Pitchathons held during The Gathering on 100 across the country.
In Lagos, eight startups received a combined ₦45 million in funding, while three startups shared ₦5 million at the Aba, Enugu, and Kano editions. With the Abuja winners now joining the growing list of recipients, the Pitchathon continues to position itself as a platform for discovering and supporting the next generation of Nigerian entrepreneurs.
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