It was a year of outstanding achievements by Africa-based tech start-ups as more than $2.9 billion was raised in 2021. Nigerian start-ups which are creating new products, services, and platforms raised the bulk of this handsome figure, as they raised over $1.7 billion of this total or about 60% of it, a recent study has revealed.
According to a business consultant and venture capitalist, Maxime Bayen’s business database Africa report, otherwise known as the Big Deal, Africa boasts a total of seven tech “unicorns,” or companies valued at over $1 billion.
The US Ambassador to Nigeria, Mary Berth Leonard, in her remarks at the 2021 Nigeria Tech Summit organised by US Embassy in Nigeria, Abuja said the US Mission will continue to do its part to support Nigeria’s burgeoning tech scene and encourage the creation of the enabling environment necessary to foster a sector that will, in turn, launch still more global businesses and contribute to a more prosperous future for all its citizens.
Leonard said it is very exciting to note that three of these of seven African tech companies – OPay, Flutterwave, and Interswitch – were “born and bred” of Nigerian talent as she firmly believes that Nigeria, with the proper support, has enormous potential to do even more.
According to Leonard: “At the US Mission in Nigeria, we pride ourselves on building, celebrating, and accelerating entrepreneurship. Throughout the year we amplify the work of innovation stakeholders by providing exposure, partnerships, training, and conferences like this Nigeria Tech Summit.
Speaking further, Leonard said science, technology, and innovation are cornerstones of the US economy, and the United States has long-established global expertise and leadership in the digital space.
“Strengthening these areas can foster open, transparent governance throughout the world. By implementing capacity-building programs in emerging markets that train young women and men to become science and technology entrepreneurs.
“Our efforts to strengthen innovation ecosystems around the world have real economic impacts and propel prosperity in Nigeria, the United States, and beyond.
“I am proud of the United States’ many contributions to this necessary transfer of Skills and mentoring here in Nigeria. For example, I began December by traveling to Ife to meet with graduates of the Academy of Women’s Entrepreneurs.
“This program combines mentoring and networking opportunities with a curriculum developed by one of the top US business schools: Arizona State University’s Thunderbird School of Global Management”.