Okiki Oludare explains why KS enterprise has no immediate plans for a Nigerian office

Entrepreneur Okiki Oludare has addressed why KS Enterprise does not have plans to open a Nigerian office in the coming years.

Speaking candidly about the challenges facing businesses in the country, Okiki emphasized that Nigeria’s current economic climate presents significant setbacks for his company’s expansion plans.

According to him, KS Enterprise is entering a new phase where technology will be at the core of its operations.

With innovations such as their upcoming ride-hailing app and other tech-driven solutions in the pipeline, the company requires a stable infrastructure—something that Nigeria struggles with.

One of the major issues Okiki highlighted is Nigeria’s persistent power crisis. “A company shifting heavily into tech needs uninterrupted power supply, especially when hosting its own servers,” he stated.

“Nigeria’s power situation has been critical for decades, and without a reliable energy source, running a fully tech-driven company would be extremely challenging.”

Okiki also pointed to Nigeria’s fluctuating exchange rates, which create instability for businesses looking to invest heavily in technology.

“The exchange rate volatility makes financial planning difficult, especially when sourcing international talent, acquiring cutting-edge technology, and scaling operations globally,” he explained.

He further referenced the recent exit of technology giant IBM from Nigeria in early 2025 as an example of the struggles companies face in the country.

“When global tech leaders like IBM decide to leave, it speaks volumes about the economic realities on the ground. For now, our focus remains on markets that provide the stability and infrastructure we need to thrive.”

While KS Enterprise has no immediate plans for a Nigerian office, Okiki reassured that the company remains invested in Africa, hinting at potential expansions in Ghana and other regions with more business-friendly conditions.