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Nigeria’s GBS Market at $286.8m, S/Africa at $4.7bn, Egypt at $4bn

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Africa GBS Market Report global business services

By Modupe Gbadeyanka

There are strong indications that in 2023, the global business services (GBS) market in Africa will worth $19.8 billion, higher than the current value, $15.1 billion.

According to the 2021 Africa GBS Benchmarking and Market Report by Knowledge Executive, the African continent will play a major part in the sector in the future because of its vast labour.

In the report, it was stated that business process outsourcing (BPO) and information technology outsourcing (ITO) are at the forefront of Africa’s rapid growth rates.

This growth, it said, is bolstered by multiple factors, including improved economic governance, relative political stability, an abundance of educated youth within the continent’s labour pool, comparatively lower salary and labour costs, in addition to focused efforts from African policymakers to support this crucial sector.

The report stated that the past year has accelerated outsourcing adoption to reduce costs and maintain revenue across the globe – and Africa has emerged as a significant beneficiary.

It was disclosed that the continent was in the developing stage of the GBS lifecycle, but already showing signs of global competitiveness and rapid maturity.

According to the report, South Africa is the continent’s largest GBS player by market share (domestic and international), valued at an estimated $4.7 billion.

The local sector employs over 261,082 domestic and international service workers from the country’s sizeable English-speaking workforce with competencies across most outsourcing services, including digitally-enabled contact centres and customer experience lifecycle management services. Surveyed enterprise executives rated the country best for contact centre voice, back-office processing and customer administration service delivery.

Egypt has the second largest domestic and international GBS market share on the continent, valued at $4 billion (excluding IT services).

The country offers a highly-skilled, multilingual, diverse talent pool, with competitive labour costs and the second-largest youth population in Africa (36.3 million citizens aged between 18-35 years). The native Arabic language also opens Egypt to the Arabic market of 300 million consumers.

Africa’s largest economy by GDP ($448 billion), Nigeria, boasts a well-established ICT sector – the largest on the continent.

This feature serves as an excellent foundation for developing the country’s GBS market, which is already valued at an estimated $286.8 million and employing approximately 16,540 workers.

Coupled with a focus on sector-specific skills and education, the country stands poised to take advantage of the largest population of English speakers in Africa and the highest number of youths aged between 18-35 years in Africa (53 million).

Smaller nations are also capitalising on this increasing international demand. Rwanda is an emerging GBS market with a large population of English and French speakers able to service English and Francophone countries. It offers reliable and advanced communications infrastructure with 95% LTE network coverage.

Botswana is another emerging GBS location. The country boasts macroeconomic stability and offers attractive investment incentives and a growing pool of educated, English-speaking workers.

Senegal has become a popular French alternative market for BPO services. Ghana boasts a scalable pool of English-speaking and computer literate talent and a growing youth population. Zimbabwe has bold GBS development plans based on its highly educated talent pool for niche services.

Investing and buying on the continent continues to be a venture filled with potential and undiscovered returns. And as more international businesses look to do so, insights such as those gleaned from the Africa GBS Benchmarking and Market Report will be invaluable in making informed decisions on outsourcing, co-sourcing or expansion.

The report said it got its findings from interviews with over 140 global enterprise executives from North America and European organisations that outsource, or plan to outsource, to Africa.

In addition, profiling surveys were conducted on over 500 GBS service providers and delivery centres across 19 African countries. These markets represent a mix of mature, emerging and nascent GBS locations in Africa that now serve as key locations for global and local investors and buyers.

Modupe Gbadeyanka is a fast-rising journalist with Business Post Nigeria. Her passion for journalism is amazing. She is willing to learn more with a view to becoming one of the best pen-pushers in Nigeria. Her role models are the duo of CNN's Richard Quest and Christiane Amanpour.

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Dangote Cement Ibese Commissions Cassava Processing Plant in Ogun

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Cassava Processing Plant in Ogun

By Aduragbemi Omiyale

In order to aid alternative and sustainable means of livelihood amid rising food prices and growing concerns over food security in Nigeria, the Ibese Plant of Dangote Cement Plc has handed over a state-of-the-art garri and fufu processing plant to the Kajola host community in Ewekoro Local Government Area of Ogun State.

The facility is expected to support cassava farmers and processors by improving efficiency and expanding income-generating opportunities.

According to the organisation, the project, delivered under the Community Development Agreement (CDA) with its host communities signed in 2022, is a strategic intervention aimed at boosting agricultural value addition, reducing post-harvest losses and strengthening livelihoods for rural farmers and women.

The Ibese Plant Director, Mr Ayyagari Subbaraidu, at the commissioning, said, “This project is aimed at improving cassava processing, reducing losses and creating sustainable employment for women and farmers in the community.”

He disclosed that the facility features separate garri and fufu processing units equipped with modern machinery, including a five-tonne-per-day peeling machine, hydraulic presses, frying systems, fermentation basins, solar-powered boreholes and sanitation infrastructure, adding that it will serve as a catalyst for local economic growth by enhancing productivity and supporting small-scale agribusinesses across Kajola and neighbouring communities.

The Plant Director also urged the community and the Project Governance Committee to maintain transparency in the management of the facility to ensure long-term sustainability.

The Ogun State Commissioner for Agriculture and Food Security, Mr Bolu Owotomo, who was at the unveiling of the project, said it aligns with Governor Dapo Abiodun’s vision of making agriculture a key driver of economic growth through value addition and enterprise development.

The Commissioner disclosed that “over 166,000 farmers, including more than 90,000 cassava farmers, have been registered under the Ogun State Farmers Information Management System (OGFIMS) to benefit from government interventions.”

He urged the community to safeguard the facility and assured residents of the continued support of the state government towards agricultural development and food security.

“This processing plant will strengthen the cassava value chain, improve product quality, create jobs and enhance food security while boosting farmers’ incomes,” the Commissioner stated.

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FG Backs US Sanctions on Three BDC Operators Linked to Terror Financing

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bdc operator

By Adedapo Adesanya

The federal government has hailed the recent sanctioning of three Nigerian bureau de change (BDC) operators by the United States’ Office of Foreign Assets Control (OFAC) for alleged terrorism financing.

“The Nigeria Sanctions Committee welcomes the recent inclusion of Mukthar Muhammad Adamu, Nine to Nine BDC, and Generation BDC Limited by the United States Office of Foreign Assets Control (OFAC).

“These designations follow the inclusion of Adamu and his companies as part of a broader update to the Nigeria Sanctions List approved and published on 18th June 2026,” it disclosed in a statement.

It said that the naming of the three companies and six people followed extensive intelligence gathering, financial investigations, and inter-agency assessments, which established reasonable grounds to believe that the affected individuals and entities facilitated, financed, supported, or otherwise contributed to the activities of the Islamic State West Africa Province (ISWAP) and associated terrorist networks.

“The individuals and entities added to the Nigeria Sanctions List on 18th June 2026 are Ibrahim Yakubu Ogirima (NLISWi.19), Muktar Muhammad Adamu (NLISWi.20), Adamu Chiroma (NLISWi.21), Ibrahim Abubakar (NLISWi.22), Abdullahi Umar Usman (NLISWi.23), Babangida Muhammed Adamu Hammajam (NLISWi.24), Abbal Bako & Sons Bureau De Change Limited (NLISWe.25), Generation Currency BDC Limited (NLISWe.26), Nine to Nine BDC Limited (NLISWe.27),” the statement read in part.

The federal government reiterated its directive to all financial institutions and designated non-financial businesses and professions to continue to comply with all sanctions obligations, including asset-freezing requirements, the filing of suspicious transaction reports, and the reporting of all relevant matches to the appropriate authorities.

The sanctions committee commended the work of the Federal Ministry of Justice, Office of the National Security Adviser (ONSA), Central Bank of Nigeria (CBN), Department of State Services, Economic and Financial Crimes Commission, and the Nigerian Financial Intelligence Unit for their actions to ensure that terrorist groups are denied the resources that sustain their activities.

It stated that Nigeria remains resolute in its commitment to ensuring that terrorists and their financiers find no safe haven within the country’s financial system.

The committee also said that the Federal Government would continue to work closely with domestic stakeholders and international partners to protect national security, strengthen financial integrity, and contribute to global efforts to combat terrorism and its financing.

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Lagos Seals Radio Station, Others for Noise Pollution

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Wise FM Lagos

By Aduragbemi Omiyale

A radio station, Wise FM, has been sealed by officials of the Lagos State Environmental Protection Agency (LASEPA).

The premises of the broadcast media platform, located on Ogabi Street, Meiran, Ile-Iwe Bus Stop, were shut by the state government on Tuesday, June 23, 2026, alongside other establishments across different parts of Lagos State for alleged persistent violations of environmental regulations despite repeated warnings, abatement notices, and opportunities provided for compliance.

In a statement by LASEPA, it was disclosed that the enforcement exercise was carried out in response to various environmental infractions, including noise pollution, air pollution, obstruction of official duties, and failure to comply with its directives.

As regards Wise FM, it was said that it was sealed for noise and air pollution as well as non-compliance with the Agency’s directives.

Another organisation affected, Star-View Terrace, located in Amuwo Odofin, Lagos, was shut down for noise pollution and non-compliance with the agency’s directives, while Premiership Suites, located at Akin Osiyemi Street, Off Allen Avenue, Ikeja, was sealed for non-compliance with the agency’s directives.

Speaking on the enforcement operation, the General Manager of LASEPA, Mr Babatunde Ajayi, reiterated the organisation’s unwavering commitment to safeguarding public health and ensuring a cleaner, safer, and more sustainable environment across Lagos State.

He stressed that both individuals and corporate organisations have a responsibility to comply with environmental laws and regulations, stressing that environmental protection remains a collective duty that requires the cooperation of all stakeholders.

The LASEPA boss warned that the agency would continue to intensify enforcement actions against violators in order to curb environmental nuisances and protect residents from the harmful effects of pollution.

Mr Ajayi urged residents, business owners, and operators of commercial establishments to adopt environmentally responsible practices and cooperate with regulatory authorities in promoting a healthier, cleaner, and more livable Lagos.

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