Mobile Internet Banking: A Transformation For The Nigeria Business

According to statistics from the Ericsson Mobility Report, total mobile subscription penetration in Sub-Saharan Africa is about 80% but will grow to 100% and 1 billion mobile subscriptions by 2021. Nigeria, as one of the largest mobile markets in Africa, is leading the trend based on these results. As one example of mobile’s impact on Nigeria’s economy, consider the fact that the Ministry of Science and Technology forecasts that the mobile market will be worth US$166 billion dollars in 2020 and directly employ about 2.7 million people.


With sub-US$50 smartphones on the way, rapid improvements to telecom infrastructure, and the availability of affordable cloud applications, the mobile Internet is rapidly transforming the way that Nigeria does business.
It is empowering enterprises to be more flexible, responsive and efficient than ever before. That’s according to Magnus Nmonwu, Regional Director for Sage West Africa, who says that Nigeria is adopting the mobile Internet as quickly and enthusiastically as it did mobile voice services some years ago. “Mobility is the growth engine of the Nigerian economy,” he adds. “It is helping people to enhance their lives and to improve their standard of living, while enabling enterprises to transform how they operate.”