As part of an empowerment programme for both hardware and software manufacturers and vendors in the country, the Nigerian Computer Society is seeking the support of the Nigerian Stock Exchange, (NSE) for the facilitation of funding plans for IT companies by creating IT venture capital.

Before now, NCS has been in discussion with banks towards setting up IT intervention funds for local OEMs (original equipment manufacturers) operating in the country.
The President of the NCS, Sir Demola Aladekomo while addressing NSE management last week in Lagos during a courtesy visit noted that economic fortunes of SMEs, especially in the ICT sector  were dwindling by the day as a result of competition from the foreign brands.

According to him, unless SMEs were adequately funded, their market will continue to shrink in the face of economic realities. He commended the NSE on its enhancement of its technology infrastructure which significantly reduced wastage and improved performance of the exchange’s operations and services.

Source: Vanguard