Nigeria is fast adopter of technology – Ugbor
By Felicia Nwosu
Uche Ugbor, Managing Director and Founder, Ark Technologies Group, has described Nigeria as one of the countries with strong yearning and appetite for technological advancement and adoption. He noted that the country’s quick response to innovation has accelerated at a rapid rate leading appreciable economic growth across sectors.
Arguing that many business owners in Nigeria are at par with technology and the digital economy drive across the globe, he said: “What we are able to do here, some of the countries that you might even think are well advanced are not yet at that level. The tech adoption in Nigeria has been very massive and it is going to continue. Don’t forget that we have a young generation, so chances are that the adoption will continue. We are very open. In fact, the appetite to consume technology or digitally related offerings is very high compared to other places. I would say any investment in that direction is not a mistake at all.”
He said the Automated Teller Machine (ATM) assembling sector of the economy is confronted with various challenges, ranging from high rate of foreign exchange associated with importation, hostile business environment as well as unfriendly government policies.
Ugbor called on the government for inclusion of his members to enable them play an active role in decisions that concern their profession, as he who wears the shoe knows where it pinches most. This, he said, will enable them to meet the needs of clients sufficiently.
“Sometimes, some of these challenges originate from putting a round peg in a square hole. When you look at what gives rise to some of the challenges we face, they are decisions or policies that were not thought through with the real practitioners. We are not always consulted or carried along,” he said.
The tech guru acknowledged the immense growth witnessed in the financial space, especially in the assembling of the ATM, noting that his company is well positioned to support banks deliver their services digitally, irrespective of the challenges.
“We are actually happy to see other kinds of innovative service provision coming from other sectors, I mean coming from the banks and other people. Whether it is a payment service bank or a fintech, it does not interfere with our own. Ours is, people have got their money in the bank, they want to have access to it and they want to use it anytime they want. So, we produce or we assemble ATMs that will make them have cash if they want. We also make their money through the card schemes, whether it is PSB or whichever it is, they still need our services. We have the capacity to personalize the cards and make you have access to your money anytime,” he said.
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