Despite Recession, Business is Good in Nigeria, Says US Firm

business
  • Despite Recession, Business is Good in Nigeria, Says US Firm

An emerging high-tech mobile phone manufacturing giant, Akyumen Technologies Corporation has given the Nigerian business environment a clean bill of health inspite of the current economic challenges facing the country.

The United States-based company which is at present exploring ways to establish base in the country, disagreed with the notion that foreign firms are scared of coming to invest in Nigeria due to the economic down-turn.

Rather, the 32-year old Chief Executive described those pulling out or those who are afraid to operate in the country as not being fair or probably may have been in the business of shortchanging Nigerians.

Speaking on the company’s plan to introduce various ranges of telecommunication products into the country’s market, the Chief Executive of the firm, Aasim Saied said some of the devices can be used to improve learning and to empower the young ones with useful skills.

“We want to create jobs in any country that we go and we also want to train personnel in the highest possible customer service expertise so that they can be at home with the technology we offer.”

He said the firm will introduce 50 per cent subsidy for students in selected primary and secondary schools in the country as part of its social responsibility to support education which they benefited from.

He said currently Akyumen Technologies is partnering 25 universities and colleges all over the world in the use of its innovative devices for academic exploits. Akyumen Technologies started up in the state of California, United States of America.

“We are a company with great commitment to our social responsibility. In addition to creation of jobs, we will also want to encourage a lot of start-up businesses. One of the things that we intend to do is to install our computers in educational institutions in the country.”
We are in the process of setting up offices in Nigeria, either Lagos or Abuja.

“In line with our desire to establish base in Africa, we are going to set up our headquarters in either Lagos or Abuja and arrangements to that effect is being perfected,” he said.

On the issue of local content, he said the company is going create a lot of local jobs by allowing more local content in the devices. According to him, although most of the components of the mobile phones and other devices are at the moment going to be imported, but that there will a lot of local inputs in area of content creation for the computer applications and software development.

Speaking on the possibility of partnering various sectors of the economy, he said there are huge opportunities to be tapped in collaborating with Nollywood film industry. He said Akyumen has a lot to offer to the local film industry in the area of application of latest technology to improve the content and knowledge of the professionals in the industry.

Unlike the practice where some foreign companies try to turn Nigeria into a dumping ground for their finished goods, the US firm said they are here to stay in the country to do more business and also to empower more entrepreneurial development.

About the Author

Samed Olukoya
Samed Olukoya is the CEO/Founder of investorsking.com, a digital business media, with over 10 years' experience as a foreign exchange research analyst and trader. A graduate of University of East London, U.K. and a vivid financial markets analyst.

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