The growth of Nigeria as a funding destination can be attributed to fintech, with huge swathes of the population unbanked or at least underbanked, and investors seeing opportunities in tech-based payments.
AS OUTGOING NIGERIAN Minister of Communication Technology, and before that, country managing director for Accenture, Dr Omobola Johnson presumably had her pick of jobs when she left office in 2015. That she embarked on a new career as a venture capitalist speaks volumes.
Johnson joined TLcom, a venture capital (VC) firm founded in 1999 and now extremely active in Africa, with investments in, among others, Nigerian startups like Kobo360 and Andela. She speaks of the major opportunity that exists in the Nigerian tech space, and one that has not gone unnoticed.
“The country is at a point whereby the population is set to reach 400 million by 2050 and youth unemployment still poses a huge problem. This means entrepreneurs are set to play a crucial role in providing jobs for the next generation,” she says.
Increasingly, these entrepreneurs are on the receiving end of investor backing, and not just from Johnson’s TLcom. According to the latest annual African Tech Startups Funding Report released by Disrupt Africa, funding for tech companies on the continent reached record levels in 2018, with 210 startups raising over $330 million.
Denne historien er fra June 2019-utgaven av Forbes Africa.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent ? Logg på
Denne historien er fra June 2019-utgaven av Forbes Africa.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent? Logg på
TRACK, WATCH, BEFRIEND
IN THE PRISTINE WILDERNESS OF GABON ARE THE MAJESTIC AND GENTLE WESTERN LOWLAND GORILLAS. A FIRSTHAND REPORT FROM OUR TRAVEL WRITER ON WHAT GOES INTO HABITUATING THEM.
CHALLENGING BUT NECESSARY: THE AI BALANCING PROBLEM
Artificial intelligence (AI) continues transforming many industries, providing unprecedented opportunities for innovation and efficiency. However, these advancements bring complex challenges that necessitate a delicate balancing act.
BEYOND ACADEMIA: THE SOCIETAL IMPACT OF MULTILATERAL EDUCATIONAL COLLABORATIONS
The great poet William Butler Yeats once said, \"Education is not the filling of a pail, but the lighting of a fire.\"
The Business Of Dance: Embracing One's Individuality And Style
In the dynamic world of street dance, passion and perseverance pave the way for success. Living out this ethos is South African born B-girl turned businesswoman, Courtnaé Paul.
COMPASSION FATIGUE: THE DANGEROUS DESCENT FROM HELPING TO HURTING
It is a workplace reality that caring too much for your colleagues can hurt you.
IT HAS NEVER BEEN MORE CRITICAL TO FIND OUR NICHE
Have you found your niche? I received a lot of advice when I set up my company, but perhaps the most important consisted of just three words: Find Your Niche.
HOW TO MAKE AFRICA WIN OFF THE FIELD TOO
When all else fails, try sports. It's good for the soul.
BEAN THERE, DONE THAT
British author Roald Dahl tapped into every chocoholic's imagination when creating Willy Wonka's bizarre chocolate factory in his 1964 children's novel Charlie and the Chocolate Factory.
IT DOESN'T GET ANY BETTER THAN WORKING WITH AL PACINO ON BROADWAY'
Arnold Vosloo Actor
BLENDED FINANCE: BRIDGING THE GAP IN EMERGING MARKETS IN SUPPORT OF THE SDGS
Amid the widespread global support for the United Nations' Sustainable Development Goals (SDGs), there was an underlying concern among economists and financial advisors in the emerging and frontier markets: public sector and donor funds were stalled, if not regressing, and the funding gap to realize the SDGs was increasing.
