Business Connexion (BCX) has acquired a 30% strategic interest in AppZone Limited, an information technology solutions provider in Lagos, Nigeria, with solutions specifically focused on the financial services sector.
AppZone has 51 employees and deploys technology platforms to financial institutions that allow end-users remotely access financial services and consummate financial transactions using a wide range of connected electronic devices.
Matthew Blewett, Business Connexion chief operating officer, comments: “BCX is pleased to be associated with AppZone. They have a remarkable asset-base of e-payment software products and intellectual property, and we’re looking to jointly seize the financial services opportunities within Nigeria and ultimately across Africa.
“The transaction provides an unique opportunity for Business Connexion to grow its existing footprint in a key growth market in Africa and represents a natural extension of the group’s cloud strategy.
“AppZone’s innovative solutions holds strong potential on a continent, where financial inclusion remains a key focus area for governments, commercial banks and micro-financial services providers alike,” Blewett says.
“Through its innovative mobile solutions, Appzone is perfectly placed to make a difference by reaching the unbanked, epitomising the Business Connexion Group mission – To enrich communities by making the impossible possible, through technology.”
Emeka Emetarom, chief operating officer of AppZone, adds: “AppZone responded to the growing need in emerging markets for financial services accessibility to the masses. The company was formed with a genuine belief in Africa’s latent ability to support the home grown production and delivery of world class IT Software for the enhancement of key sectors of the budding economy.”
