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Cloud-Based Technology Critical To Economic Recovery – Williams

Microsoft Country Manager for Nigeria, Ola Williams
Microsoft Country Manager for Nigeria, Ola Williams

January 09, (THEWILL) – Cloud-based technology has been described as a critical tool for economic recovery.

According to Microsoft Country Manager for Nigeria, Ola Williams, cloud-based technology will play a critical role in enabling inclusive economic recovery, with SMBs able to innovate far quicker and more securely at a much lower cost.

The Future of Business Resilience report, released by Microsoft in 2020, notes that investing in the latest technology (which includes cloud computing) results in 20 to 30 percent higher workforce productivity, and 40 to 50 percent faster speed to market amongst some of the benefits.

Williams noted, “This is the enabling environment that we should be nurturing for SMBs and new start-ups alike if our economies are to successfully rebound post-pandemic. There is no doubt that economic recovery will be buoyed by the success of our start-ups and small businesses.

“This is because, across the Middle East and Africa, an estimated 90 per cent of all businesses fall into the small-to-medium-sized (SMB) category, highlighting the economic importance of these entrepreneurial enterprises.

Explaining further, he said, “The lesson thrust upon us by the pandemic is that building resilience is key to ensuring business continuity in ever-changing market conditions in which many SMBs are operating on tighter budgets.

“The required resilience is rooted in digital transformation, allowing businesses to streamline operations and evolve to better meet current needs while developing the agility that will enable quick pivots in response to future changes.”

Williams continued, “Cloud adoption amongst SMBs is a critical first step in their pursuit of resilience on their digital transformation journey. Beyond this first step, conducting business in the cloud in the long term is also the best bet for future-proofing operations in a global digital economy.

“This economy will be driven by the latest technologies, from artificial intelligence (AI) and machine learning (ML) to the Internet of Things (IoT), which use the cloud as a platform.

“As the Information Technology and Innovation Foundation notes, “cloud computing is integral to new IT-driven business developments”, which, in themselves, will stimulate the economy by driving new solutions to existing problems.”

BUA Foods Lists 18bn Ordinary Shares on NGX Main Board

The Nigerian Exchange Limited (NGX) has announced the listing by introduction of BUA Foods Plc on the Main Board of The Exchange on Wednesday, 5 January 2022. A total of 18 billion ordinary shares of BUA Foods were listed at N40.00 per share under the Consumer Goods sector of NGX, with the trading symbol, BUAFOODS.

The listing of BUA Foods’ shares has added N720,000,000,000 to the market capitalization of NGX, further boosting liquidity in the Nigerian capital market and providing opportunities for wealth creation. It is expected that this listing will also increase the visibility of the food manufacturing, processing, and distribution company, BUA Foods, to investors on the African continent and across the globe.

NGX facilitated over N7 trillion worth of capital raises across several asset classes for both public and private corporations in 2021. As a multi-asset Exchange, NGX is strategically positioned to be the preferred listing and investment destination connecting Nigeria, Africa and the world.