Cadmus expands into West Africa

Cadmus Technology has entered into a deal to supply Australian-based eftpos distributor O&G with 2500 eftpos terminals for the Nigerian market.

O&G works with Interswitch, which is located in Nigeria's capital city Lagos and is owned by the major African banks, to facilitate the country's electronic payments.

Pat McCammon, international sales and marketing director for Cadmus Technology said it was a sizeable deal with potential for more sales over time.

"Although the eftpos market in Nigeria is relatively immature in terms of debit cards, the West African country has proven itself to be an early adopter of new technology such as mobile phones where there are over 12 million connections compared to less than a million phone lines," he said.

Cadmus is in talks with O&G about providing other services, such as mobile phone top-ups and eftpos bill payments.

Under the initial contract Cadmus will supply mobile eftpos terminals. Mr McCammon said dial-up connections in Nigeria were unreliable, so mobile terminals were more appropriate.

Shares in Cadmus were down 1c at 23c in afternoon trading, having ranged between 14.6c and 40c over the past 12 months.

- NZPA