American technology company, International Business Machines (IBM), has exited the Nigerian economic space.

The company announced that it is also leaving other African countries like Ghana, while it transfers its operations to a third-party company.

IBM is one of the latest international companies to exit the Nigerian economic space in recent times. In 2024, Guinness left, and Meta, the internet giant, and Microsoft reduced their physical presence in the country, scaling back their office spaces and transitioning to desk sharing for workers.

Under this new agreement, IBM will transfer its regional functions to MIBB, a subsidiary of Midis Group, a multinational IT and telecommunications conglomerate operating across Europe, the Middle East, and Africa.

The company said in a statement, ?MIBB will market and sell IBM products and services in 36 African countries, thereby giving MIBB?s sales network direct access to IBM products, services, and support, further boosting innovation and growth in the region.?

The company?s presence in Nigeria spans over 50 years, but this marks the twilight of the present period.

In the 1960s, IBM helped to set up an educational centre at the University of Ibadan, aiding in building digital capacity.

The company was integral to the growth of the technology landscape, providing infrastructure and consulting services to industries such as education, banking, telecommunications, oil and gas, and government. (The Guardian: Text, Excluding Headline)

Update news