Author: OBG Admin

Éric N’guessan-Managing Partner-EY Côte d’Ivoire

Clicks and mortar: Accelerated shift towards online shopping prompts retailers and regulators to adapt to changing consumption patterns

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Although informal physical retail sales continue to dominate the Nigerian market, e-commerce has experienced exponential growth in recent years, culminating in a significant push towards online shopping in 2020-21 in the face of pandemic-induced lockdowns. Market Footprint Home to two of Africa’s big-five online retailers, the Nigerian e-commerce market was valued at about $12bn in 2019, according to the US International Trade Administration, and was slated to reach $75bn in revenue by 2025 based on pre-pandemic growth trends. Smartphones are a leading channel for e-commerce

Chaim Zach-Managing Director and CEO-Agric International Technology and Trade; Kabiru Rabiu-Group Executive Director-BUA Group; and Aliyu Abbati Abdulhameed-Managing Director

A fairer market: Government entities work to address expensive and inaccessible mortgages to facilitate homeownership

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Even as the authorities work to create more opportunities for Nigerians to own affordable homes, mortgage penetration continues to be low. The ratio of outstanding mortgages to GDP was 0.5% in 2020 – up from 0.2% in 2019 – compared to 18.9% in Namibia, 16.2% in South Africa, 10.2% in Tunisia, 2.2% in Kenya and 1.6% in Ghana, according to the Centre for Affordable Housing Finance in Africa (CAHF). That year there were some 535,000 outstanding mortgages valued at $2.2bn in Nigeria, and the country

Sheikh Ahmad Duaij Jaber Al Sabah-Chairman-Commercial Bank of Kuwait

Unified approach: Regional agreements are expected to enhance trade and ease of movement across the continent

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Nigeria has prioritised improving its business climate in recent years, with an emphasis on developing its logistics and trade facilities. These efforts have paid off, with the country having the 10th-most improved ranking in the 2020 edition of the World Bank’s ease of doing business index. Improving 15 places from 2019, Nigeria’s overall score placed it 131st out of 190 countries in 2020 on the back of gains in six out of the 10 categories – including trading across borders. In this area, Nigeria’s ranking

Daniel Asare-Kyei-CEO-Esoko; Curtis Vanderpuije-CEO-ExpressPay; and Daniel Marfo-General Manager-Zipline Ghana

Partnering up: Large-scale transport and energy projects attract significant participation from private and foreign players

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In early 2021 the government launched a slate of major projects to help bridge Nigeria’s infrastructure gap. In support of this, the country’s leaders created the Infrastructure Corporation of Nigeria, or InfraCorp, in February of that year: a public-private fund to finance critical infrastructure such as railways and roads. The construction sector is expected to be a significant growth driver for the economy over the next few years, underscored by the 2021 budget allocation of N3.9trn ($10.4bn) for capital expenditure, up 43% on the proposed

Daouda Coulibaly-Managing Director-Société Ivoirienne de Banque

Brighter futures: Digital education and training aligned with industry needs aim to keep the young workforce engaged and competitive

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Securing appropriate funding for Nigeria’s education ecosystem remains one of the sector’s most important goals, and is key to improving outcomes. Underinvestment has created knock-on effects for the nation’s employment rate, with the private sector struggling to find qualified workers. More than half of all wage-paying jobs in the country are in the public sector – with around 80% of those associated with the hydrocarbons industry – and many educated Nigerians would prefer to wait for a secure public sector job than work in the

Éric N’guessan-Managing Partner-EY Côte d’Ivoire

Engine of expansion: The authorities are looking to private sector investment to increase value-added production

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The manufacturing industry, which was an important component of Kaduna’s economy in the 1970s, has seen a steady decline in the decades since. The local authorities have been keen to kick-start light manufacturing, particularly in the agro-allied industries, and expand activity in the solid minerals sector, which are expected to become a key driver of growth. However, industry and manufacturing remain comparatively small components of the economy, contributing around 10% to the state’s GDP. The government is looking to new private sector investment and a

President Alassane Dramane Ouattara

Fertile plains: Targeted efforts to develop the agricultural value chain

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Kaduna is actively seeking to attract investors to the agriculture sector, promoting a number of opportunities. The Kaduna Investment Promotion Agency (KAPIDA) has identified about 2.5m ha of uncultivated land with abundant water resources to support commercial farming, livestock and fishery businesses, and welcomes investors to take advantage of the state’s potential. Indeed, the economy is primarily driven by agriculture, with the sector employing more than 42% of the workforce across 1.3m households, most of which are small-scale farmers. The state’s main crops include maize, yam, rice, guinea corn, soya bean and peanuts. Many cash crops are also cultivated, including ginger, shea butter and tobacco.

Sheikh Ahmad Duaij Jaber Al Sabah-Chairman-Commercial Bank of Kuwait

Operation vaccination: In the second year of the pandemic, attention shifts to rolling out vaccines and preventing new waves of infection

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The first case of Covid-19 in Nigeria was recorded on February 27, 2020 in Lagos, and as of end-September 2021 around 205,800 confirmed cases and 2720 deaths had been recorded. The country experienced its first wave of the virus in the middle months of 2020, a larger wave at the end of 2020 and into 2021, and a third wave emerged in July 2021. Controlling the Spread When the scale of the pandemic became clear, a Presidential Task Force (PTF) was established on March 9,

Daniel Asare-Kyei-CEO-Esoko; Curtis Vanderpuije-CEO-ExpressPay; and Daniel Marfo-General Manager-Zipline Ghana

Power up: Renewable energy key to achieving electrification objectives

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National reforms leading to the unbundling and privatisation of Nigeria’s Power Holding Company in 2013 resulted in the creation of the privately owned distribution firm Kaduna Electric, which is licensed to supply power in the state. At the same time the Kaduna Power Supply Company (KAPSCO), fully owned by the Kaduna government, was created to undertake energy initiatives in areas where significant supply gaps remain. KAPSCO has spearheaded a number of projects to supply power to rural communities and industrial sites such as the Green Economic Zone in Maraban Jos, Damau Household Milk Farm in Kubau, and the state’s two largest water treatment plants in

Setting the foundation: Infrastructure development and an investment-friendly climate identified as central to sustainable, long-term expansion

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State authorities have worked to develop Kaduna’s infrastructure and business climate in recent years, identifying them essential to sustainable growth. The Kaduna State Infrastructure Master Plan (KADIMP) 2018-50 is the state’s long-term strategy for coordinated infrastructure development. The plan lays out interventions in the key sectors of transportation, housing, education, health, water and sanitation, and agriculture. Total projected expenditures under KADIMP amount to N20trn ($53.4bn). The plan aims to ensure that Kaduna becomes a model for urban development by 2050, as it leverages its strategic