E-Business
Oracle’s Revenue, Others Hit Hard by Inconsistent Forex Market

From technology giant, Oracle Corporations, to pharmaceutical companies like Abbott Laboratories to manufacturers like Caterpillar and fast-food chain McDonald’s, a strong U.S. dollar against local currencies is exposing a painful side effect of their global expansion.
These companies had expanded aggressively to emerging markets over the past decade while the strategy seemed like a winner a few years back.
Nigeria CommunicationsWeek had reported via its eNewsletter of December 1, 2014, when Dr. Umar Bindr, director general of the National Office for Technology Acquisition and Promotion (NOTAP) accused telecommunications operators of putting enormous pressure on the nation’s foreign exchange as they seek approvals to acquire foreign software to drive their networks.
Bindr had counted back to 12 months ago when the operators obtained approvals to spend about N20bn on foreign technology agreements sought by the operators.
But, Oracle Corporation on Friday, tearfully reported that its total revenues downed 5% to $10.7 billion which would have been up 3% in constant currency.
Pre-elections 2015, especially between October 2014 and March 2015, the Nigerian naira weakened against US dollars up to N300/dollar.
While announcing it fiscal 2015 Q4 results, Oracle said that the total fourth quarter (Q4) revenues were $10.7 billion, down 5% but would have been up 3% without the strengthening of the U.S. dollar.
Nigeria CommunicationsWeek gathered from the account that Oracle’s software and cloud revenues were $8.4 billion, down 6%, but up 2% in constant currency, while cloud software as a service (SaaS) and platform as a service (PaaS) revenues were $416 million, growing 29%, and up 35% in constant currency.
Also, its cloud infrastructure as a service (IaaS) revenues were $160 million, growing 25%, and up 31% in constant currency and the hardware Systems Revenues were $1.4 billion, down 4%, but up 5% in constant currency.
Q4 operating income was $4.0 billion, and the Operating Margin was 37%. Non-GAAP Operating Income was $5.0 billion, and the non-GAAP Operating Margin was 46%.
Net Income was $2.8 billion while non-GAAP Net Income was $3.5 billion. Earnings Per Share was $0.62, down 23%, and down 12% in constant currency, while non-GAAP Earnings Per Share was $0.78, down 14%, and down 5% in constant currency.
Short-term Deferred revenues were $7.2 billion, slightly down, but up 9% in constant currency compared with a year ago. Operating Cash Flow on a trailing twelve-month basis was $14.3 billion.
For fiscal year 2015, Total Revenues were $38.2 billion, essentially unchanged, but up 4% in constant currency.
Software and Cloud Revenues were $29.5 billion, up 1%, and up 5% in constant currency. Cloud SaaS and PaaS revenues were $1.5 billion, up 32%, and up 35% in constant currency. Cloud IaaS revenues were $608 million, up 33%, and up 36% in constant currency.
Total Hardware System Revenues were $5.2 billion, down 3%, but up 2% in constant currency. Operating Income was $13.9 billion, and the Operating Margin was 36%. Non-GAAP Operating Income was $17.4 billion, and non-GAAP Operating Margin was 45%.
Net Income was $9.9 billion, while non-GAAP Net Income was $12.5 billion. Earnings Per Share was $2.21, down 7%, but unchanged in constant currency. Non-GAAP Earnings Per Share was $2.77 down 3%, but up 2% in constant currency.
Speaking on the report, Safra Catz, Oracle CEO, said, “We sold an astonishing $426 million of new SaaS and PaaS annually recurring cloud subscription revenue in Q4. We expect our rapidly increasing cloud sales to quickly translate into significantly more revenue and profits for Oracle Corporation.
For example, SaaS and PaaS revenues grew at a 34% constant currency rate in our just completed Q4, but we expect that revenue growth rate to jump to around 60% in constant currency this new fiscal year.”
“Coming into Q4, we forecast selling $300 million of new SaaS and PaaS annual recurring revenue,” said Mark Hurd, Oracle CEO. “We dramatically beat that forecast by selling a cloud industry all-time-record amount of $426 million of new SaaS and PaaS business. That is a year-over-year bookings growth rate of over 200%. As our multi-billion dollar cloud business gets bigger, our SaaS and PaaS revenue growth rates are on their way up to 60% in constant currency. Compare this to our primary cloud competitors’ whose own revenue growth forecasts are on their way down to 44% and 22%.”
“We expect to book between $1.5 and $2.0 billion of new SaaS and PaaS business this fiscal year,” said Oracle Executive Chairman and CTO Larry Ellison. “That means Oracle would sell more new SaaS and PaaS business than salesforce.com plans to sell in their current fiscal year – the only remaining question is how much more. Oracle’s planned SaaS and PaaS revenue growth rate is around 60% in constant currency; salesforce.com has a planned growth rate of around 20%. When you contrast those growth rates it becomes clear that Oracle is on its way to becoming the world’s largest enterprise cloud company.”
The Board of Directors also declared a quarterly cash dividend of $0.15 per share of outstanding common stock. This dividend will be paid to stockholders of record as of the close of business on July 8, 2015, with a payment date of July 29, 2015.
E-Business
AfDB Adopts AI to Fast-track Africa’s Development Blueprint

The African Development Bank (AfDB) is betting big on Artificial Intelligence (AI) as a catalyst for delivering Africa’s ambitious Agenda 2063.
With hands-on training in tools like ChatGPT and Google Gemini, the Bank believes the results could redefine how the continent plans, measures, and delivers its development goals.
Through its Joint Secretariat Support Office, the AfDB has provided technical and financial support to the 5th annual training workshop for African Union member states, focusing on the use of AI to track and implement the second ten-year plan (2024–2033) of Agenda 2063.
The five-day workshop, held in Lusaka, Zambia, was co-organised by the African Union Commission and the African Capacity Building Foundation.
Participants from across the continent rolled up their sleeves for hands-on training with emerging AI platforms like Ailyse, Google AI Studio, and Perplexity.
The goal of Africa’s multilateral development finance institution is to turn complex development data into actionable insights that can drive smarter decisions, faster interventions, and more accountable governance.
AbibuTamu, lead programme co-ordinator at the AfDB, said AI was now an indispensable tool for Africa’s future.
“These tools are not only revolutionizing how data is collected, analysed, and reported, they are also enabling more targeted policy interventions and efficient resource allocation,” Tamu told delegates.
Agenda 2063, dubbed “The Africa We Want,” is the African Union’s 50-year blueprint for inclusive growth and sustainable development. The second 10-year plan prioritises industrialisation, digital transformation, and sustainable livelihoods.
With AI now in the mix, African policymakers can track progress in real-time, spot bottlenecks before they choke projects, and reallocate resources where they are needed most.
The AfDB’s backing underscores a broader strategy of boosting both human and institutional capacity that propels African states to harness the digital revolution.
Beyond technical skills, the Lusaka workshop doubled as a peer-learning platform, with countries sharing real-world success stories on integrating AI into national planning and reporting.
“If Agenda 2063 is Africa’s long-term roadmap, this AI training is about upgrading the continent’s GPS that ensures leaders not only know the destination, but also have the intelligence to navigate every twist and turn on the way,” said Tamu.
E-Business
Firm Shares Tips for Safer Remote Working

It is holiday season in many parts of the world. These days though, going on holiday does not always mean turning your back on office life – hybrid work cuts both ways.
Today’s widespread connectivity—available at airports, train stations, restaurants, hotels, and most indoor public spaces—makes staying connected easier than ever, with free Wi-Fi in many locations and reliable 4G or 5G coverage elsewhere, helping to facilitate a seamless blend of work and leisure even while on holiday.
This increase in connectivity among travellers has not gone unnoticed by cyber criminals. Kaspersky experts analysed nearly 25,000 free Wi-Fi spots in Paris ahead of the Summer Olympic Games and Paralympic Games. The analysis revealed that almost 25% of these networks had weak or no encryption, making users vulnerable to personal and banking data theft.
Travellers often have their guard down. The unfamiliar surroundings of a new location or a different language can throw up a useful smokescreen for a cyberattack, meaning additional care needs to be taken when logging on. Fortunately, a few smart tools and habits can help you stay protected while enjoying the flexibility of remote work.
Use a VPN for secure connections
A VPN is one of the most effective ways to safeguard users’ online activity, especially when working from unfamiliar locations. By encrypting Internet traffic, a VPN ensures that hackers can’t intercept sensitive data like login credentials or financial details. This is particularly important when accessing work emails or company files on public Wi-Fi, where cybercriminals often lurk.
Switch to an eSIM for reliable, secure mobile data
Another useful digital tool that provides a seamless way to stay connected using local mobile networks with no physical SIM card required is the eSIM. This is a game-changer for international travellers who want to avoid sky-high roaming charges or the hassle of hunting down temporary SIM cards in foreign countries.
With an eSIM, a user can download a local data plan before you even arrive at your destination, ensuring instant connectivity the moment you land. This eliminates the need to rely on unsecured Wi-Fi hotspots, significantly reducing your exposure to cyber threats.
Plus, many eSIM providers allow you to manage multiple profiles on a single device, making it easy to switch between work and personal data plans without juggling multiple phones.
Services like Kaspersky eSIM Store enables users to purchase and activate data plans in advance, track usage and top up as needed, all from a single app.
Enable two-factor authentication (2FA)
When travelling, people often leave devices unattended. To protect against unwanted people logging in, travellers should ensure two-factor authentication (2FA) is enabled on all critical accounts and that passwords are used on all devices.
Final tips for a secure workation
Even with a VPN, eSIM and 2FA in place, your devices still need strong defenses against malware, phishing scams and ransomware. Cybercriminals often target remote workers who may let their guard down while travelling, making real-time protection essential.
Modern antivirus software does more than just scan for viruses, it actively blocks malicious downloads, warns you about phishing attempts and even secures your passwords and financial data.
For the most robust security, consider a solution like Kaspersky Premium, which combines antivirus protection, a VPN and password management into a single, easy-to-use package.
By combining a VPN, eSIM and strong antivirus, you can work from anywhere with confidence, whether you’re sending emails from a poolside or joining a video call from a festival tent.
E-Business
Zequence Digital Boss Calls for Strong IP Laws Enforcement, to Protect Nigeria’s Software Sector

Mr Adeoye Oludamilola, managing director, Zequence Digital, a digital agency, has said strong enforcement of Intellectual Property (IP) laws , protection of Nigeria’s software industry against piracy will encourage innovation and investment.
Adeoye told reporters lately in Lagos that software piracy and the unauthorised use of proprietary technology are widespread in the country.
According to report Intellectual Property (IP) laws in software refers to the legal rights that protect the creations of the mind used in software development.
These rights, which include copyrights, patents, trade secrets, and trademarks, grant developers exclusive control over their software and related assets, preventing unauthorised use or reproduction.
Adeoye said that many startups do not protect their innovations, due to a lack of knowledge and the cumbersome legal processes involved.
“IP registration and litigation are expensive and time-consuming, which further discourages developers from protecting their work,” Adeoye said.
He added that the lack of awareness among developers about their IP rights contributed to the problem.
To address these challenges, Adeoye stressed the need for the formation of an IP Protection Consortium, comprising tech firms, legal experts, and regulators, to advocate for stronger IP enforcement.
He also suggested collaborating with legal tech startups to create simplified platforms for fast-tracked IP registration.
The managing director further called for joint initiatives between legal bodies and tech communities to launch IP rights education campaigns.
This, he said, would equip developers with the knowledge they needed to protect their innovations and grow their businesses.
Adeoye emphasised the need for the government and stakeholders to create an ecosystem for development and inclusivity by proactively engaging with regulators.
According to him, this will help ensure that policies are created with the input of concerned agencies and industry experts.
- E-Financial3 days ago
NBS Reports ₦6.72 Trillion VAT Haul as Tax Reforms Pay Off
- Telecom3 days ago
MTN Nigeria Rolls Out Network-as-a-Service and Signs First MVNO to Drive Industry Efficiency
- News3 days ago
No More Leaks: FIRS Slaps ₦5m Fine on Info Disclosure
- Telecom2 days ago
Airtel, Vodacom sign Network Infrastructure Agreement to Drive Digital Inclusion
- Telecom2 days ago
NCC Bars Ex-Officials from Joining Telecom Firms for 5 Years
- E-Business2 days ago
Firm Shares Tips for Safer Remote Working
- Telecom3 days ago
Airtel Money Africa Partners pawaPay for Seamless International Remittances Across Africa
- E-Financial3 days ago
FIRS Unveils e-Invoicing, Electronic Fiscal System for Large Taxpayers