Nigeria
Nigeria is the most populous country in Africa, and is also the largest economy on the continent. This means that the Nigerian start-up ecosystem is one of the largest and most vibrant in Africa.
As the start-up scene continues to flourish in Nigeria, it is attracting growing interest from both local and international investors.
Across the continent, fintech is a popular sector with investors. This is also true in Nigeria, with companies like Riby and Paystack attracting significant investor interest.
Given the size of the population, and the citizens’ increased tech savvy, there is a lot of interest among investors for Nigerian tech start-ups. Most start-ups are still very young, but they are growing quickly.
Collins Onuegbu has been in tech for a long time. He founded his company, Signal Alliance, in the mid-1990s, providing enterprise software to a variety of companies in Nigeria.
The Lagos State Employment Trust Fund (which already supports MSMEs with subsidised loans) is rolling out an initiative to support the city’s start-up ecosystem.
There are a number of legal considerations start-ups must consider when setting up and running their companies. Make sure you do your homework to ensure you’re not falling foul of any regulations.