• Thursday, December 07, 2023
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‘Nigeria critical to our global business strategy’ – SAP CEO


German software maker, SAP AG, with annual revenue of €16.22 billion in 2012, says Nigeria, Africa’s most populous country plays an integral role in its global business strategy.

Pfungwa Serima, chief executive officer of SAP Africa, made this known in Lagos at the weekend. He pointed out that the size and potentials inherent in the Nigerian market has made it one of the most preferred destinations for Foreign Direct Investment (FDI) in Africa.

Speaking in an interview with BusinessDay, Serima, said, “We appreciate the size of Nigeria and the potentials it exudes both within the continent and strategically globally. We are all aware that Nigeria is very big on oil and gas.

“We know Nigeria is also big when it comes to institutional knowledge. If you look at Nigeria’s financial services industry, there are lots of financial institutions that are not just local banks but regional banks that aspire to become international banks.

There is a need therefore for any serious minded business regardless of if it is SAP or not to give attention to this market and be part of the growth. In view of this, Nigeria plays a significant role when it comes to SAP’s global strategy.” Half of the ten fastest growing economies globally are from Africa and Nigeria is at the top of the growth charts according to the International Monetary Fund (IMF), Serima stated.

The forecasted growth of approximately seven percent in Nigeria’s gross domestic product (GDP), he went further, is hinged largely on its abundant natural resource output – mining, oil and gas – areas in which SAP has robust, proven solutions. “With abundant natural resources, Nigeria clearly offers attractive investment opportunities. As investors from around the world look to Africa, public and private sectors across the continent must now prove to investors that they are ready to plug into the global economy,” says Serima. “SAP provides the tools for businesses and government alike – large and small – to provide the investment community with the returns that they expect through technology solutions that can scale and be rapidly deployed.”

The Africa CEO said the company is committed to making businesses in the country run better and gain significant Return on Investment (ROI). “We will continue building on our core strategy and our ability to drive business growth”.He reaffirmed SAP’s commitment to the development of the Nigerian economy through strategic partnerships both in the private and public sphere. Speaking in the same vein, Richard Edet, head, SAP West Africa said the company is placing significant emphasis on skills building both on the African continent and in Nigeria.