Economy
Digital Technology Future of Agriculture in Africa–Osinbajo
By Adedapo Adesanya
If Nigeria is to drive for change in agriculture across Africa, then it is time to look at the utilization and application of digital technology, the Vice President of the country, Mr Yemi Osinbajo, has said.
According to Mr Osinbajo, who made this statement on Wednesday at the panel discussion session of the African Green Revolution (AFGR), being held at International Conference Centre, Accra, Ghana, the application of digital technology was the way forward for the continent.
The event, which holds between September 3 – 6 focusing on the theme Grow Digital: Leveraging Digital Transformation to Drive Sustainable Food Systems in Africa” has in attendance former UK Prime Minister, Mr Tony Blair; Nigeria’s Vice President; President of Ghana, Mr Nana Akufo-Addo; Prime Minister of Rwanda, Mr Edouard Ngirente; AU Commissioner for Agriculture, Ms Josefa Sacko; amongst others.
During the discussions, Mr Osinbajo disclosed that there were many companies in Nigeria that see potentials in agriculture and expressed the willingness of the Nigerian government to support them by keying into the agriculture space.
According to the Vice President, one of the big advantages of technology is collaboration, which is the major future of digital technology.
“What we found is that there is far more collaboration than before and there is far more transparency; you can see practically everything and anyone who is connected one way or the other and people learn faster because of a lot of collaboration.
“People can get online; find out what this company is doing; some companies are linking investors to farmers and it is so easy to find out what they are doing by simply going to their website.
“Some of the Fintech companies are also in that space helping to make payments; helping to do transactions and a lot of them are doing well just by building the space.
“The way it is going; frankly, I can’t see how it will not completely revolutionalise agriculture because practically everywhere that digital technology has touched; it completely revolutionalised.
“And I don’t think we have a choice; what we are going to see is that digital technology will change the face of agriculture in Africa,” he said.
The vice president speaking on ways that the country would utilize digitalization and agriculture said that digital technology was getting easier to manage especially with mobile payments and mobile platforms.
He noted that in Nigeria, there was a vast number of mobile internet participation claiming the country ranked high in terms of using mobile phones despite differences in educational background.
Setting the pace, Mr Osinbajo disclosed that the Nigerian government did a lot of cash transfer payments and payments to the most vulnerable through its alleviation programmes using mobile phones.
“So, I think it is actually getting easier; one of the advantages of digital technology is that if you are a digital native as they call them, you are able to learn faster.
“We are looking at the application of digital technology not just in agriculture but in our society and economy as a whole,’’ he said.
He further added that Nigeria was modernising farming through the application of digital agriculture.
On his part, President Akufo-Addo said that Ghana had modernised significantly in agriculture in recent years and the country was developing the capacity to feed the world via agriculture.
“We are looking at how to take advantage of the markets of the world for our agriculture.
“How to penetrate the markets of the world,’’ he said.
Prime Minister Ngirente of Rwanda, however, identified that many challenges faced the potential agriculture setting noting that scarcity of fertilizer, post-harvest losses among others as confronted agriculture on the continent.
He also added that digitalisation was part of agriculture reforms ongoing in Rwanda.
“Today, everyone who wants to invest in agriculture has internet.
“We have invested heavily in managing climate and we are involving the youths in agriculture and making the sector profitable,’’ he said.
Ms Sacko, on her part, commended the East African countries for doing very well in digital agriculture and called on other countries to strive more in that regard.
The AGRF presents a premier platform for African and global leaders from both the public and private sectors to advance policies, programmes and investments as well as harnessing agriculture in ensuring food security, increasing income and promoting economic development.
By Adedapo Adesanya
MTN Group, Africa’s largest mobile network operator, has entered advanced discussions to buy approximately 75 per cent of shares in IHS Holding Limited (IHS Towers) that it does not already own.
The move would give the South African telco full control of IHS, which is the leading independent tower operator in several of its key markets, providing colocation services and supporting the expansion of mobile networks in regions with growing demand for digital connectivity.
In a cautionary announcement to investors on Thursday, MTN confirmed it is considering a transaction to acquire the remaining stake in the New York Stock Exchange-listed IHS, following recent market speculation.
The potential offer price would be “at a level near the last trading price” of IHS shares on the NYSE as of February 4, 2025, a period when the stock has seen a sharp rise in recent months, reflecting renewed investor confidence in the sector.
No binding agreement has been reached, and MTN emphasised there is no certainty that the deal will proceed.
However, if completed, the transaction could materially impact MTN’s share price, prompting the company to advise shareholders to exercise caution in trading until further updates.
MTN already holds a significant stake in IHS and maintains a deep operational partnership across multiple African markets.
Over the past decade, MTN has sold thousands of passive network sites to IHS through sale-and-leaseback deals, including a major transaction in South Africa in 2022 involving over 5,700 towers.
These arrangements allowed MTN to free up capital from infrastructure while securing long-term tower access via master lease agreements.
A full buyout would represent a dramatic strategic pivot for MTN, effectively bringing tower infrastructure back in-house after years of outsourcing to specialised operators like IHS.
MTN has previously voiced concerns about corporate governance at IHS, adding context to its cautious approach in the announcement.
If the deal falls through, MTN said it would continue exploring options to unlock value from its IHS investment, consistent with its disciplined capital allocation strategy.
The potential acquisition underscores the evolving dynamics in Africa’s telecom infrastructure sector, where operators weigh the benefits of owning versus leasing critical assets amid rising data demands and economic pressures.
By Adedapo Adesanya
For the third consecutive trading session, the NASD Over-the-Counter (OTC) Securities Exchange ended in the green territory, rising further by 0.77 per cent on Thursday, February 5.
Two price gainers helped the bourse to rally during the session, with the market capitalisation up by N16.87 billion to N2.197 trillion from N2.180 trillion and the NASD Unlisted Security Index (NSI) up by 3.18 points to 3,672 points from the 3,644.48 points in the midweek session.
The advancers’ group was led by Central Securities Clearing System (CSCS), which added N3.70 to sell at N48.67 per share versus the previous day’s N44.97 per share, and Afriland Properties Plc expanded by N1.01 to N15.01 per unit from N14.01 per unit.
It was observed that the alternative stock exchange recorded two price losers led by Geo-Fluids Plc, which further lost 51 Kobo to sell at N4.75 per share versus Wednesday’s closing price of N5.26 per share, and Industrial and General Insurance (IGI) declined by 6 Kobo to 59 Kobo per unit from 65 Kobo per unit.
During the session, the volume of securities transacted by investors slid by 51.9 per cent to 1.2 million units from 2.5 million units, the value of securities went down by 32.0 per cent to N12.0 million from N17.7 million, and the number of deals increased by 27.8 per cent to 23 deals from 18 deals.
At the close of trades, CSCS Plc was the most traded stock by value on a year-to-date basis with 16.2 million units exchanged for N659.9 million, followed by FrieslandCampina Wamco Nigeria Plc with 1.7 million units traded for N117.8 million, and Geo-Fluids Plc with 12.3 million units valued at N79.1 million.
CSCS Plc remained the most active stock by volume on a year-to-date basis with 16.2 million units sold for N659.9 million, trailed by Mass Telecom Innovation Plc with 13.6 million units valued at N5.5 million, and Geo-Fluids Plc with 12.3 million units worth N79.1 million.
By Dipo Olowookere
The Nigerian Exchange (NGX) Limited recorded another milestone after it further closed higher by 1.18 per cent on Thursday amid renewed confidence in the market.
The All-Share Index (ASI) crossed the 170,000-point threshold during the session as it added 1,975.18 points to the preceding day’s 168,030.18 points to settle at 170,005.36 points.
Also yesterday, the market capitalisation of Customs Street was up by 1,268 trillion to N109.129 trillion from the N107.861 it ended a day earlier.
The growth recorded during the session was powered 55 equities, which outweighed the losses recorded by 19 other equities.
Guinea Insurance expanded by 10.00 per cent to N1.43, Seplat Energy grew by 10.00 per cent to N7,370.00, RT Briscoe increased by 9.95 per cent to N11.49, Neimeth chalked up 9.90 per cent to close at N11.10, and Zichis rose by 9.89 per cent to N6.11.
At the other side, Deap Capital lost 9.62 per cent to trade at N6.20, Universal Insurance slipped by 9.43 per cent to N1.44, Haldane McCall declined by 9.09 per cent to N4.00, Red Star Express went down by 9.04 per cent to N15.60, and UPDC depreciated by 7.02 per cent to N5.30.
Business Post reports that the energy index was up by 4.68 per cent, the industrial goods improved by 0.79 per cent, the banking space grew by 0.64 per cent, and the consumer goods sector soared by 0.11 per cent, while the insurance counter lost 0.31 per cent.
Yesterday, market participants traded 713.0 million stocks valued at N22.3 billion in 46,104 deals versus the 694.8 million stocks worth N20.6 billion transacted in 42,095 deals on Wednesday, showing a spike in the trading volume, value, and number of deals by 2.62 per cent, 8.25 per cent, and 9.52 per cent, respectively.
Access Holdings sold 106.6 million shares valued at N2.5 billion, Chams transacted 44.5 million equities worth N201.3 million, Champion Breweries traded 44.5 million stocks for N774.3 million, Universal Insurance exchanged 34.8 million shares worth N53.6 million, and Deap Capital sold 22.7 million equities valued at N141.9 million.
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