General News
Grey Market Operators are Money Launderers-Umo
Ime Umo, managing director and technology solutions group lead for West Africa, HP West Africa is a seasoned IT sales professional with 16 years of experience from several large multi-national organizations in West Africa. He has a strong background in business-to-business sales as well as an excellent knowledge of the West African IT markets.Umo spoke with chike onwuegbuchi on a wide range of issues. It is his first ever interview since his appointment in April this year.
HP’s Business outside PCs and Laptops
HP is a technology company. We are not just into ink and cartridges; we do more than that. Today, we are the number one IT company in the world. We provide solutions in the telecom space; solutions such as form location register, which is a subscriber database for any telecom operator. We also do things like interactive voice recognition solution. We have the public sector solutions like treasury management; another solution we have in the telecom space is revenue assurance and threat management solution. Threat management solution helps telcos eliminate fraud in the environment and then the revenue assurance helps check within the telecom network where they have leakages. Another solution which we provide is on number portability. Number portability solution is about ensuring that if a subscriber is not happy with telecom company A, he can switch to telecom company B using the same number. So, there are hosts of other solutions that we provide and we are also into consulting and integration; we have the capacity to do SAP implementation, we have skilled staff locally we use in doing this. We also have skills around Oracle implementation as well. These are the services we render as HP. On top of it, I said that we are the number one telecom company in the world today. This is stemmed from the fact that we have done a lot of acquisitions; we have acquired a company called EYP, which is into Data center transformation and design. We have also acquired a company called EDS. EDS is the leading outsourcing company in the world. So, today with these acquisitions that we have made – EYP, EDS and a host of others; we are number one today from a technology standpoint.
Focal Points as MD of HP Nigeria
As I said earlier when I was talking about sectors that we are interested in, we foresee that there will be further consolidation in the banking and insurance sectors. That is a key area for us, where we are going to put in a lot of efforts to ensure that we sail our value proposition into this market space. We also foresee a lot of growth potentials in the telecoms industry. Like I said in my earlier discussion with you, the total subscriber database for the telecom companies is 40 million and the Nigerian population is roughly about 140 million; so that means we are just scratching the surface of the number of subscribers that are hooked up. The telecom space is another key area for us. Then the public sector; government is the biggest partner in terms of IT. Today, many state governments and even federal government, is looking at solutions and technologies that would help optimize what they do. In this space, HP has a clear e-government solution that will be implemented elsewhere which, we are ready to bring to various government parastatals that we are engaging.
HP’s Growth in Nigeria
Well, it is linked to the different sectors that we are looking at. Financial services are part of the areas that we need to put in our efforts. Of course, we also need to carry out some educational initiatives which we are putting in place that will enable the students know what they are doing and also support them from the academic point of view. We are also having quite a number of initiatives together with the banks; we are doing finance projects for some government initiatives such as Nepad, which is an African initiative put together to support educational services and to help people grow technology wise. So, there are quite a lot of things that we are looking at doing.
Challenges and Solutions
Most importantly, we talked about grey marketing. We also require the assistance of the press to do write-ups about the disadvantages and effects of grey marketing. I talked about two aspects of grey marketing – people buying, taking advantages of promos in America and Europe. They buy at cheaper prices and then come here. What we are doing is to encourage our local partners and distributors by doing promos to meet the price point of the grey market. Another aspect of grey marketing which we need to look at is money laundering. A couple of people are doing grey marketing just because they want to bring money back into the system and so, they launder money. For us, that is difficult to stop because all they are interested in is to make the money come in and not in selling. That is why they sell them at ridiculous prices and there is no way we can meet that price point. These people are fraudsters, they are laundering money; to them it does not necessarily matter, they just want to bring in money. To address people who are genuinely doing grey, who are taking advantage of promos in America and Europe, what we do locally is to drop the price point and do promo to encourage our local partners to compete with them favourably.
Grey Market and Warranty
It is very clear, people who buy from grey market do not enjoy any level of support from us; they do not enjoy any level of warranty. So, even they take that product to the service center, all they do is pay for the service and at the end of the day, they might end up paying the same amount of money that they used in buying the product when the equipment spoils because they are going to source for the spare parts abroad and we are going to charge them for the services.
Government Efforts at Checking Excesses
You know, government is increasingly asking foreign investors to come in and we expect that since government is doing that, they should create an enabling environment. We would expect that for international organizations that are operating within the country – government should let other vendors who would participate or buy the products, to use local companies to ensure that the sales are being made through the local HP office. Again, I guess it is not really much of the government’s responsibility – government has a say but HP internally needs to devise a means of ensuring that when leads about Nigeria are sent to other HP offices, that those leads should be routed back to Nigeria. So, it is a two-way thing; it is not just the government, we at HP would have to come up with that programme, say if they get a request from an end-user in Nigeria, they should route it back to HP in Nigeria. That would help our business. We also would expect government to support us in this direction. If they want to make technology purchases, they should insist that those purchases should be done with the regional HP office which is located in Nigeria.
Social Responsibility
I talked about that in my earlier discussion with you. That is what we have done. If you go back to the earlier interview, you would dig up all those facts and then come up with what we are doing. I mentioned a couple of universities which you are aware of. There is a clear directive on social responsibility from the Global Office, and you will see what we have done so far on the records. We are going to invest; we are doing business here and we will continue to invest in the region.
Competition and PC Market
Competition is good, we are not running away from competition but there is a differentiating factor and the total cost of ownership; we are looking at the total cost of ownership – who is able to give you the right level of support if you buy the equipment? In terms of total cost of ownership, we have three different support centers in Nigeria – Abuja, Lagos and Port-Harcourt and whoever is buying HP products will not have an issue; if there is a support issue, the person can take it to the support center and it is taken care of, whether the equipment is under warranty or not. If it is under warranty, it is fixed at no charge to the person but if it is outside warranty, it is fixed at a minimal charge to the person. So, we would continue to support the environment. We are not running away from competition. Just to give that level of assurance, HP is the only OEM in this region that has made a significant investment. We have support; we have resources internally that would help in supporting people. If you aggregate it, the total cost of ownership of acquiring or purchasing an HP platform is cheaper than the total cost of ownership of buying any other brand because if you look at local systems products, some of them give you six months and then the warranty is just on labour alone. If the parts spoil, you are expected to buy them. We look at it from the total cost of ownership and the investment we have made and the support mechanism and structure we have put in place. So, these are the things that make us more competitive than the rest of the vendors. It is not just the pricing of the product alone but the total cost of ownership.
Kashifu Inuwa, the Director General of the National Information Technology Development Agency (NITDA), has called for a fundamental shift in Kano State’s economic strategy, urging stakeholders to embrace innovation, technology and collaboration as the drivers of growth in the 21st century.
Speaking at the Kano Startup Weekend, Inuwa acknowledge Kano’s long-standing reputation as the commercial nerve centre of Northern Nigeria and the wider Sahelian region, noting that its history of trade, enterprise and human capital provides a solid foundation for future growth.
He emphasised that while these strengths powered Kano’s success for centuries, the modern economy now offers even greater opportunities through innovation and technology.
He described innovation as the process of transforming ideas into impactful solutions through commercialization, stressing that when ideas are effectively deployed, they create value, solve societal challenges and generate sustainable economic growth. He noted that Kano’s large market, strategic location and vibrant entrepreneurial culture place it in a strong position to take advantage of innovation-driven opportunities.
According to him, “Innovation is the process of taking an idea from inception to impact. Invention on its own is a cost centre, but when you commercialise an idea, when you turn it into a product or service that solves a real problem and creates value, that is when you begin to drive economic growth and inclusion.”
He noted that the state hosts numerous degree-awarding institutions across federal, state and private ownership, providing a strong base for human capital development. However, he expressed concern that these institutions often operate in isolation from industry, with research outputs rarely translating into commercial or industrial applications.
He explained that innovation does not happen in silos and stressed the need for a strong, interconnected ecosystem that brings together academia, industry, startups, entrepreneurs and government.
According to him, universities should conduct research informed by industry needs, industries should leverage research to improve productivity and competitiveness, and startups should serve as the bridge that converts ideas into market-ready solutions.
He further encouraged entrepreneurs to leverage technology to build businesses that can grow beyond local markets, explaining that innovation-driven enterprises have the power to scale rapidly, create jobs and position Kano competitively at both national and global levels. According to him, digital platforms and emerging technologies now make it easier for startups to reach wider markets and develop solutions that were previously unimaginable.
“You can start your business here in Kano, but your thinking must be global from day one. Technology has removed barriers. With the right skills and platforms, a startup in Kano can build solutions that serve not just Nigeria, but the world,” he noted.
Highlighting NITDA’s ongoing interventions, the Director General outlined the Agency’s commitment to building national innovation capacity through targeted human capital development programmes. He cited the Digital Literacy for All (DL4ALL) initiative, which aims to equip Nigerians across all segments of society with essential digital skills, and the 3 Million Technical Talents (3MTT) programme, designed to produce a pipeline of globally competitive technical professionals in areas such as software development, data analysis and emerging technologies.
He said, “Through DL4ALL, we are ensuring that Nigerians at all levels have the basic digital skills needed to participate in the digital economy, while 3MTT is deliberately building a pipeline of globally competitive technical talents who can drive innovation, create jobs and attract investment.”
He explained that these programmes are key pillars of President Bola Ahmed Tinubu’s Renewed Hope Agenda, which prioritises skills development, innovation, job creation and inclusive economic growth as pathways to national prosperity. According to him, empowering Nigerians with digital and technical skills is essential for building a resilient economy capable of competing in the global digital landscape.
“President Tinubu’s Renewed Hope Agenda is about investing in people, empowering them with relevant skills and creating opportunities for inclusive growth. At NITDA, we are using digital skills and innovation as tools to translate that vision into real economic impact for Nigerians,” he said.
Inuwa urged all stakeholders in Kano to work together to build a functional innovation ecosystem that can unlock the state’s vast potential. He expressed confidence that with the right mindset, strong collaboration and sustained investment in digital skills and innovation, Kano can reclaim its historic leadership role and emerge as a major innovation and entrepreneurship hub in Nigeria and beyond.
General News
Sterling Bank Renewable Energy Colloquium Urges Stakeholders to Unlock Nigeria’s Clean Energy Potential
Sterling Bank Limited on Monday convened stakeholders in the renewable energy industry to explore strategies for accelerating Nigeria’s transition to clean energy and boosting economic growth.
L-R: Mr. Ayo Ademilua, President, Renewable Energy Association of Nigeria; Dr. Jekwu Ozoemene, Group Executive, The Alternative Bank; Mr. Biodun Ogunleye, The Honourable Commissioner, Lagos State Ministry of Energy and Mineral Resources; Mr. Dele Faseemo, Group Executive, Coprporate and Investment Banking, Sterling Bank; Engr. Bem Samuel Anyangeuor, Representative, Honorable Minister of Power and Mr. Oluwaseyi Okunnuga, Group Head, Renewable Energy & Sustainability Finance, Sterling Bank at the just concluded Renewable Energy Colloquium held in Lagos recently.
The colloquium, themed “Beyond the Grid: Unlocking New Frontiers in Renewable Energy”, was held in Lagos and brought together policymakers, financiers, and industry leaders to deliberate on priority areas for action.
In his opening address, Managing Director and Chief Executive Officer of Sterling Bank, Mr. Abubakar Suleiman, represented by Mr. Dele Faseemo, Group Executive, Corporate and Investment Banking, said the bank would focus on regulation and financing to expand access to energy.
He noted that energy access remained critical to supporting economic growth and achieving Nigeria’s ambition of building a one trillion-dollar economy.
Delivering a keynote address titled “Scaling Electrification in Nigeria: The REA Impact”, Managing Director of the Rural Electrification Agency (REA), Dr. Abba Aliyu, represented by Mr. Abba Hayatudden, said Nigeria required about 26 billion dollars to bridge its energy deficit.
Aliyu explained that the energy transition strategy integrates grid, mini-grid and off-grid technologies to achieve universal, reliable and sustainable energy access while aligning with national development and climate goals.
Minister of Power, Mr. Adebayo Adelabu, represented by Engineer Samuel Ayangeaor, commended Sterling Bank for convening the dialogue.
He said renewable energy and rural electrification were central to the Federal Government’s Renewed Hope Agenda.
“The Ministry of Power has continued to expand electricity access to underserved communities to drive economic growth, foster industrial activity and create jobs across the nation,” Adelabu said.
Lagos State Commissioner for Energy and Mineral Resources, Mr. Biodun Ogunleye, highlighted the state’s efforts in renewable energy, including the ongoing two-gigawatt grid-scale solar project.
He described it as the most ambitious energy transformation ever undertaken by the state.
Chief Executive Officer of Sterling One Foundation, Mrs. Olapeju Ibekwe, urged participants to move beyond communiqués and act with intention to deliver meaningful impact.
The colloquium featured panel sessions on financing and scaling green energy solutions in Africa, among other discussions.
Cellulant, a leading Pan-African payments company enabling seamless digital transactions across Africa, has appointed Mr. Freddie Oduro as its new Country Manager for Ghana.
Mr. Freddie Oduro, New Country Manager for Ghana.
Freddie’s appointment is a key step in Cellulant’s broader strategy to deepen its presence in priority markets by accelerating the acquisition of in-country enterprise businesses and strengthening its position as the payments partner of choice in Africa.
Freddie brings over a decade of commercial and strategic leadership experience in the telecommunications and financial services sectors, with expertise in sales, business operations, and market expansion.
In his new role, he will drive merchant acquisition, strengthening partnerships, oversee collections and payout operations, while ensuring strong internal controls and regulatory compliance.
He joins Cellulant from Payaza and previously served as Sales Director at Cellulant, where he helped significantly expand the company’s footprint in Ghana.
Cellulant has been powering payments in Ghana for leading brands in sectors like e-commerce, utilities, oil and gas and retail, helping them offer their customers a wide range of secure digital payment options.
“We are happy to welcome Freddie back to the Cellulant family,” says Richard Gesimba, Chief Revenue Officer at Cellulant. “Ghana remains a critical market for us, with immense potential driven by rising digital payments adoption.
“As we sharpen our focus on in-country enterprise customers, Freddie’s leadership and industry insight make him the ideal person to steer our Ghana operations.”
The appointment comes at a transformative time for the company. Following a strategic shift between late 2023 and early 2024, focused on streamlining operations, doubling down on enterprise payments, and strengthening customer intimacy, Cellulant achieved profitability in 2024 and continues to build on this momentum.
The company now processes close to 4.5 million transactions daily for businesses across Africa, reinforcing its position as a fintech leader.
“I am honoured to return to Cellulant and lead the Ghana team at such a defining moment,” says Freddie, Country Manager for Cellulant Ghana. “Ghana presents a tremendous opportunity.
“We will ramp up our efforts to sign on more local merchants, strengthen our compliance and control frameworks, and introduce innovative solutions like Tingg Edupay, our automated school fee management solution that eliminates reconciliation delays by validating payments in real time and instantly updating student accounts.
“We will build on Cellulant’s strong foundation to deliver real value, reliability, and economic impact.”
Ghana’s digital payments sector continues to grow steadily, supported by increased mobile money usage and a progressive regulatory environment. Between January and October 2025, the value of mobile money transactions hit about GH¢ 3.6 trillion, up sharply from GH¢ 2.37 trillion in the same period of 2024.
Registered mobile money accounts now exceed 79 million, demonstrating strong consumer and business confidence in digital financial services and in turn creating many opportunities for payment innovation.
This leadership appointment underscores Cellulant’s commitment to building a resilient, high-performance organisation geared towards playing a pivotal role in the next era of Africa’s digital economy.
Looking ahead to 2026, Cellulant plans to further enhance the user experience on its payment platform, Tingg, and expand its footprint across Ghana.
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