Recently, Raxio Data Centre and Oracle jointly organised their first round table that was attended by business and ICT leaders to discuss how enterprises can manage operational costs by leveraging cloud technologies.
Source: Twitter
Raxio is in process to build a state of the art collocation, enterprise grade and carrier neutral teir III grade data centre in Kampala that is expected to go live later in the year.On the other hand, Oracle has developed, Cloud at Customer, cloud based solution, which will allow Ugandan enterprises to enjoy cloud services.
Attending the round table the Executive Director Supervision, at Bank of Uganda (BoU), Dr. Tumubweine Twinemanzi said that it is time to challenge the financial services sector to adopt a shared technology services delivery model. Thereby cutting down the cost of doing business and pass on those benefits to customers in form of reduced cost of lending. We have reached a stage where financial institutions should compete based on the quality of services and the appropriateness of their products and not on how beautiful or how brandy-new their infrastructure or systems are.”
The financial services industry in Uganda has over the last 10 years has seen average cost to income rations rise to 74.6%, compared to 66.7% in 2008. As a result, average lending rates increased to a 10 year average of 22.16% from 20.39% in the same period.
While applauding the effort Raxio’s to build a new data centre locally, Twinemanzi said “What Raxio is trying to do (shared services) is something that we’ve been trying to do in the financial services sector. Financial institutions should focus on their core business which is intermediation—mobilizing deposits and extending credit.”
Speaking at the event, Joachim Steuerwald, the Oracle Cloud Platform Sales Director, said with increased reliability on digital mobile solutions for virtually everything, it was a critical mission that service providers invest significantly in reliable systems. We’re increasingly becoming a digital economy. Customers can’t event tolerate our digital services being down for even an hour. This requires the ICT behind those businesses to be available 24/365. Building these highly reliable systems requires that we’ve the right environment.”
Steuerwald further added that the Oracle is interested in a partnership with Raxio to solve the significant constraint to achieve the kind of uptimes that a digital economy demands.
