The Billion-Dollar Question
Forbes Woman Africa|December 2018 - February 2019

Africa’s most populous country is the biggest startup market most likely to give birth to unicorns. But capital and infrastructure to help these startups scale remain elusive.

Peace Hyde
The Billion-Dollar Question

THE YEAR 2018 WAS momentous for Staff bus.ng, a two-year-old startup helping solve the problem of congestion in Nigeria’s capital city.

Its solution? Encouraging residents to leave their cars at home and book its luxury buses for their daily commute to work.

Founded by Olusegun Oludayo, the startup was recently the winner of the N5 million ($13,700) Seyi Tinubu Empowerment Project (STEP) initiative, a pitching competition held annually in Lagos to identify leading tech entrepreneurs.

This program, along with many other venture capital (VC) initiatives, has sprung up in Africa’s largest economy in the last decade to help boost the startup ecosystem in Nigeria.

According to a 2017 report by Global Startup Ecosystem Report and Ranking 2017, produced by Startup Genome in collaboration with the Global Entrepreneurship Network (GEN), the Lagos startup ecosystem is estimated to be worth $2 billion. It has one of the highest rates of founders who have an undergraduate degree (59%) and those that have a technical background (93%).

However, when it comes to global penetration of these startups, there seem to be some significant challenges with only 11% of startups planning to take their business beyond the shores of Nigeria.

“We have a proliferation of similar ideas all trying to get funding from dwindling sources and those with funding just go around that circle of pitching, pitching, pitching. They don’t scale, so you find they remain startups for many years,” says Emilia Asim-Ita, CEO, AML Practice, a content, talent and resource advisory firm.

Bu hikaye Forbes Woman Africa dergisinin December 2018 - February 2019 sayısından alınmıştır.

Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.

Bu hikaye Forbes Woman Africa dergisinin December 2018 - February 2019 sayısından alınmıştır.

Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.

FORBES WOMAN AFRICA DERGISINDEN DAHA FAZLA HIKAYETümünü görüntüle
Well-Grounded
Forbes Woman Africa

Well-Grounded

Coco Cachalia, whose mother Amina was among the 20,000 in the Women’s March of August 1956, made a decision to stay away from politics – and succeed in business instead.

time-read
3 dak  |
August-September 2017
Art Becomes Her
Forbes Woman Africa

Art Becomes Her

A celebrated international fine artist, Mmakgabo Helen Sebidi overcame the struggles of apartheid, and her work is grounded in her past.

time-read
3 dak  |
August-September 2017
'Not Just Pro-Women But Pro-Progress'
Forbes Woman Africa

'Not Just Pro-Women But Pro-Progress'

South Africa’s Minister of Women Susan Shabangu on the significance of the 61st anniversary of Women’s Day, and the role men can play in ending gender violence in South Africa and creating an equal society.

time-read
6 dak  |
August-September 2017
Diversity And Inclusion Are Part Of Baker Mckenzie's DNA
Forbes Woman Africa

Diversity And Inclusion Are Part Of Baker Mckenzie's DNA

According to Law360’s 2017 Glass Ceiling Report, women make up around one-third of the attorneys in private legal practice. Among the law firms surveyed, just below 23% of partners are female.

time-read
3 dak  |
August-September 2017
We, Men For Women
Forbes Woman Africa

We, Men For Women

South Africa still has a long way to go for gender justice in business and in life, but with more men openly stepping forward to be a part of the discourse, FORBES WOMAN AFRICA speaks to two male entrepreneurs, a CEO and a social activist. They acknowledge diversity makes smart social and economic sense that will benefit all.

time-read
10+ dak  |
August-September 2017
What, After All, Does Feminism Have To Do With Men?
Forbes Woman Africa

What, After All, Does Feminism Have To Do With Men?

According to the seminal African-American writer bell hooks (her name is not capitalized), feminism is for everybody.

time-read
3 dak  |
August-September 2017
Blood, Setbacks And Tears
Forbes Woman Africa

Blood, Setbacks And Tears

Two sisters with common failures and a dream to eventually succeed.

time-read
2 dak  |
August-September 2017
Fighting To The End
Forbes Woman Africa

Fighting To The End

In May, 82 more Chibok girls were released in exchange for Boko Haram prisoners. Oby Ezekwesili, a strong advocate in the campaign to bring them back, has vowed to never stop fighting. 

time-read
2 dak  |
June-July 2017
Not Just Hard Work, But Heart Work
Forbes Woman Africa

Not Just Hard Work, But Heart Work

As incidents of gender-based violence increase in Africa, those like Nigeria’s Kemi Dasilva-Ibru, are trying to bring relief to stigmatized victims.

time-read
5 dak  |
June-July 2017
Going Down The Spice Route
Forbes Woman Africa

Going Down The Spice Route

Essie Bartels worked several odd jobs she hated before opening a company selling mouth-watering spices and sentiments to the world.

time-read
4 dak  |
June-July 2017