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Need for Business Agility Pushing Finance Cloud Market to $29.47Bn

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According to report “Finance Cloud Market by Solution (Financial Reporting and Analysis, Security, Governance, Risk and Compliance), Service, Application, Deployment Model, Organization Size, Vertical, Region – Global Forecast to 2021”, the finance cloud market size is expected to grow from USD 9.89 Billion in 2016 to USD 29.47 Billion by 2021, at a Compound Annual Growth Rate (CAGR) of 24.4% during the forecast period.

The major drivers of this market include need for business agility and focus, green IT and increasing need for customer management.

“Professional Service market is estimated to dominate the finance cloud market share during the forecast period.”

The professional services segment is estimated to have the largest market share in the finance cloud market. The organizations focus on offering specialized services to achieve greater customer experience, achieving operation efficiency at a reduced cost and time is driving the demand for finance cloud services across the globe.

The finance cloud market is growing at an exponential rate since most of the players are focusing on providing specialized services for the market. Rapid growing demand for customer satisfaction with better and faster support and its reliable and efficient integration are some of the other drivers impacting the services market.

“Customer Management is expected to grow at high CAGRs during the forecast period. “

The customer management application of finance cloud market is witnessing a potential growth in comparison to the other applications owing to the benefits it offers such as lowered costs, improved productivity, advanced data analytics and much more.

The financial services, banking and Insurance companies are opting for this application to quickly address customer queries and concerns, keeping in minds the long term benefits and achieving a competitive advantage.

The major players in this market are Amazon web Services (AWS), Oracle, SAP, Google, IBM, Computer Sciences Corporation (CSC), Microsoft Corporation and Salesforce.com.

“North America is the leading region in terms of market share in the finance cloud market space.”

North America is expected to hold the largest market share and dominate the finance cloud market in 2016, due to the larger internet penetration rate and strong economy that has shifted isolated infrastructure to cloud in the region.

APAC is expected to grow at the highest rate during this forecast period. Reduce CapEx spending, low IT management complexity, improved agility and security are some of the major driving factors contributing to the growth of cloud computing in the North America.

 

 


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E-Business

Galaxy Backbone Celebrates the Federal Government’s Paperless Civil Service Milestone

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Galaxy Backbone (GBB) aligns with and celebrates the successful announcement by the Office of the Head of the Civil Service of the Federation on the achievement of a Paperless Civil Service, a significant milestone in Nigeria’s public sector reform and digital transformation agenda.

The milestone was formally highlighted at a press briefing led by the Head of the Civil Service of the Federation, Mrs. Didi Esther Walson-Jack, who commended Galaxy Backbone for its sustained support and contribution throughout the implementation of the programme.

GBB has played a critical role in enabling this transition by providing secure, scalable, and shared digital infrastructure that supports the digitisation of government processes across Ministries, Departments and Agencies (MDAs). Through the 1Government Cloud, MDAs have been empowered to migrate from paper-based workflows to digital platforms, improving efficiency, collaboration, data security, and service delivery across the Federal Civil Service.

In addition, GovMail, GBB’s secure government email platform, has strengthened official communication, enhanced records management, and reinforced cybersecurity standards—key pillars in sustaining a paperless operating environment.

Galaxy Backbone acknowledges the collective efforts of the Office of the Head of the Civil Service of the Federation, Permanent Secretaries, Directors of ICT, consultants, partners, and dedicated public servants whose commitment and collaboration ensured the smooth delivery of this initiative.

The Managing Director/Chief Executive Officer of Galaxy Backbone, Prof. Ibrahim Adeyanju, was represented at the press briefing by Akintayo Bamisaye, Acting Group Head, Research, Digital Innovation and Skills Department (RDIS).

GBB describes the achievement as a strong close to 2025 and reaffirms its commitment to supporting the Federal Government in building a modern, efficient, and digitally enabled public service.


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Jumia CEO says Black Friday Signals Nigeria’s E-Commerce Maturity

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At the close of 2025, Temidayo Ojo, the CEO of Jumia Nigeria, reflected on a year-end shopping season that points to the growing maturity of the country’s e-commerce market. “Black Friday is no longer a single, short-lived spike in activity,” he said.

“It has become a familiar, anticipated moment in the retail calendar, where consumers shop deliberately and with confidence.”

Preliminary KPIs for the two months ended November 30, 2025, show strong year-on-year growth in both orders and Gross Merchandise Value (GMV), with GMV growth outpacing order growth. This indicates that customers are placing fuller, more considered baskets rather than shopping in fragmented transactions. Nigeria ranked among Jumia Group’s better-performing markets, with engagement remaining steady throughout the Black Friday period rather than spiking briefly and tapering off.

A key factor behind this performance is the growing familiarity of consumers with online shopping. Customers are increasingly leveraging platform features such as saved carts, brand stores, and price comparison tools to plan purchases in advance. This trend suggests that digital commerce is becoming embedded in everyday habits rather than being viewed as a one-off event.

Ojo also highlighted the role of Jumia’s JForce network in connecting digital commerce to local communities. “Our agents are critical to ensuring that customers across Nigeria, including secondary cities and smaller communities, have access to variety, consistent pricing, and reliable delivery,” he said. “During peak periods like Black Friday, JForce agents can respond faster, serve more customers efficiently, and build stronger local relationships. This isn’t just a distribution channel—it’s a pathway to sustainable income and inclusion.”

Reflecting on the overall performance, the CEO concluded: “What we’re seeing this year-end is steady engagement across categories, stronger consumer confidence, and partners like our JForce agents benefiting from increased activity.

“It confirms that Nigeria’s e-commerce ecosystem is maturing, growing in a more structured and resilient way. As the December Holiday Sale continues, we expect these patterns of familiarity, trust, and participation to sustain momentum and drive both commerce and community impact across the country.”


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Galaxy Backbone Tops FG’s Website Performance Ranking

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Galaxy Backbone Limited (GBB) has been ranked first overall in the 2025 Federal Government Website Performance Scorecard.

Galaxy Backbone Tops FG's Website Performance Ranking

This is a landmark achievement for Nigeria’s digital economy.

The ranking, conducted by the Bureau of Public Service Reforms (BPSR), is the definitive benchmark for digital excellence and transparency across all Ministries, Departments, and Agencies (MDAs).

Professor Ibrahim Adepoju Adeyanju, managing director and CEO of Galaxy Backbone, received the award during a ceremony in Abuja.

He described the feat as a validation of the agency’s“Nigeria First”data sovereignty strategy and its relentless pursuit of service excellence.

This recognition comes as the Federal Government intensifies its push to achieve a fully paperless civil service by December 31, 2025.

GBB has been the primary architect of this transition through its 1Gov Enterprise Content Management (ECM) platform, which now hosts the operations of almost all federal MDAs.

The award adds to a growing list of accolades for Galaxy Backbone in 2025, following its recent win of the “International Standard Excellence Award for Best IT Service Provider.”

As the central hub for government shared services, GBB’s performance serves as a blueprint for other agencies currently undergoing digital transformation.

With its expanded fiber-optic backbone now covering over 13 states and its secure cloud solutions, Galaxy Backbone remains the cornerstone of Nigeria’s vision to become a leading digital nation by the end of the decade.

 


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