The Appearing Senior Commerce Commissioner, Deputy Excessive Fee of Canada, Dindembolo-Zaya Kuyena, has mentioned that Nigeria is the most important African overseas investor in Canada. He revealed that Nigerians’ complete funding within the nation was $1.7 billion invested as of 2021.
Kuyena disclosed this on Thursday at a partnership occasion between a Canadian Firm, SpeechLogix, and MTN Nigeria. The partnership goals to ship a video conferencing platform for Small and Medium Enterprises (SMEs) known as Conferences+, which leverages Zoom know-how.
In line with Kuyena, Canada has been actively collaborating with Nigeria on commerce coverage, together with negotiation and agreements, to boost market entry and funding circulate. He, nonetheless, famous that Canadian direct funding in Nigeria remains to be lower than $500 million and the federal government is working to extend it.
Nigeria-Canada commerce
The Deputy Excessive Commissioner famous that the partnership between MTN and SpeechLogix is backed by the Canadian authorities to strengthen commerce between the 2 nations.
- “Indubitably, Nigeria is certainly one of Canada’s most necessary financial companions in Africa selling buying and selling funding from relationships between itself and Canada.
- ‘’In 2002, Nigeria grew to become Canada’s second-largest buying and selling companion in Africa with 2.2 billion in bilateral Retailers commerce.
- ‘’Nigeria can also be the most important African overseas investor in Canada with $1.7 billion from 2021 information. Canadian direct funding in Nigeria is estimated at roughly just below $500m and I’m pushing for that to extend over the approaching years.
- ‘’Nigeria’s financial diversification coverage aligns properly with that of Canada, and it’s necessary to notice that it was talked about when it comes to your SME panorama,’’ he mentioned.
Acknowledging the energy of SMEs in Nigeria which makes up over 60 % of companies in Nigeria, he mentioned that is additionally similar to the Canadian financial panorama, which is why this alignment and partnership are crucial to Canada.
SMEs answer
Talking on the collaboration with SpeechLogix to launch Conferences+, the Normal Supervisor, Enterprise Enterprise at MTN, Mr Charles Okonkwo, mentioned the goal is to offer Nigerian companies with an progressive platform tailor-made to their wants.
In line with him, the collaboration aligns with MTN’s broader technique of transitioning from a telecommunications firm (telco) to know-how firm (Techco).
- “By providing progressive options like Assembly+, MTN goals to empower SMEs and contribute to the expansion of Nigeria’s digital economic system.
- “MTN’s strategic shift from a standard telecommunications supplier to a know-how firm encompasses a multifaceted method aimed toward harnessing digital innovation to handle evolving customers’ wants and market dynamics,” he mentioned.
Additionally talking, the Head of Gross sales at SpeechLogix, Haitham El-Hanafi, mentioned that the collaboration with MTN Nigeria and Zoom to develop Conferences+ was a strategic determination pushed by its shared dedication to addressing the evolving wants of companies.