Global attention beams on Nigeria as Stanford University, California has recently provided a platform for about 40 business leaders in the West Africa sub-region to analyse the successes of SystemSpecs, Nigeria’s software powerhouse and operator of the Central Bank of Nigeria (CBN)’s payment gateway.
According to a statement from the Executive Director of Stanford SEED, host of the event, Emmanuel Kitcher, said the session will offer the business leaders an opportunity to understand and evaluate the operating model of a fast growing payment technology powerhouse rising out of Africa.
Kitcher informed that Standford SEED is equally interested in “Systemspecs’ broad outlook for West Africa and for that matter, Africa rising.
“Of course we would touch on Systemspecs’ ethical and core values, which have assisted it to excel in Africa’s largest economy,” Kitvher said in a statement.
Other areas the business leaders would be focusing on during the session include SystemSpecs’ origin, its transformation journey and the creative and innovative ways through which it has surmounted various environmental challenges. The payment gateway is operated through a locally developed software called Remita.
According to the founder of SystemSpecs, Mr. John Obaro, “it is humbling that SystemSpecs a 100 per cent indigenous technology company is the provider of Remita that is powering such a significant national initiative as the federal government TSA. It is also humbling to note that our efforts and commitment to strong ethical values are being discussed as a model for sustainable business in Africa.”
Executive Director of SystemSpecs, Deremi Atanda, will address the global audience, which in addition to the West Africa business leaders, will include the Executive Director of the Stanford Seed, Global Operations Director of the institution, and Professors from the Graduate School of Business, Stanford University and staff of Stanford SEED.
Remita, which is SystemSpecs’ indigenously developed flagship payment technology platform, has significantly revolutionised the electronic payment industry in Nigeria and is at the forefront of the federal government’s efforts to streamline its payments and revenue collection through the implementation of the Treasury Single Account (TSA).
As at December 2015, all commercial banks and over 400 microfinance banks in Nigeria had adopted Remita for payments and revenue collections across multiple channels.
SystemSpecs’ board is led by Dr. Christopher Kolade, the former Nigerian High Commissioner to the United Kingdom.
