The Business Process Outsourcing (BPO) industry has been gaining momentum globally, with its current valuation at over $260 billion and is expected to exceed $500 billion by 2030, according to Grand View Research.
BPO is among Africa’s fastest-growing sectors for job growth and Nigeria is quickly emerging as a noteworthy participant and an ideal location for the delivery of business processes, in areas like IT infrastructure, payroll, tech support, inbound and outbound calls, but also software development and testing, engineering support, and product design.
In Nigeria, BPOs, including call centres and contact centres, have become vital components of numerous international businesses. This can be primarily attributed to the country’s well-educated, English-speaking workforce and entrepreneurial ethos. This linguistic advantage ensures top-notch service delivery while simultaneously mitigating potential communication barriers, a critical factor in the success of customer service and other BPO operations.
Although relatively small compared to its African counterparts, Nigeria’s BPO/CX market is already diverse and is estimated to be valued at USD280 million with over 16,540 agents and knowledge process workers servicing the domestic and international markets.
The BPO sector in Nigeria holds immense promise as a catalyst for economic growth and inclusive employment as it is evident that there’s an opportunity to delve into outsourcing and offshoring prospects within Nigeria itself and across the African continent.
Join us on Tuesday, November 28 with key stakeholders to explore market strategies that would shape the direction of growth for the industry and its socio-economic impact for Nigeria. Register here.