Responsive Ad Slot

Latest

Sports

Relationship Matters

Opinion

Exploring Nigeria’s Burgeoning Tech Scene

Exploring Nigeria’s Burgeoning Tech Scene

Ever since it was founded in 2010, the Co-Creation hub in the Yaba district of Lagos has been spearheading Nigeria’s ambitions to become Africa’s technology hotspot.

With international venture capitalists and homegrown entrepreneurs making Yaba their home, it’s joined other successful African tech hubs like Silicon Savannah in Kenya and South Africa’s Silicon Cape in modernising the continent’s economic infrastructure.

A big part of why this area of the city has grown to be attractive to investors is the fact that it’s handily located near the University of Lagos and the Yaba College of Technology who supply the vibrant start-up scene with a fresh pool of young and enthusiastic talent.

As a result, some of Africa’s most profitable new tech companies have made Yaba their home. A case in point is Konga who’ve become one of the continent’s leading online retailers as a result of switching their operations to this unassuming inner-city location.


Rather than suffering the high rent of Lagos’ more upmarket locations like Lekki and Ikoyi, the hub offers low operating costs that have attracted promising start-ups such as Hellofood and Easy Taxi to supercharge the developing Nigerian tech scene.

With the amount of mobile subscribers in Nigeria now reaching 150 million users, the country offers a phenomenally attractive prospect for foreign investors. Whilst overseas brands such as Sweden’s Millicom have already moved into Lagos, there’s still opportunity for other brands to stake their claim to this promising market.

Although the mobile market in places like the US and UK has already reached near saturation point with social media channels like Instagram and Snapchat offering pocket-sized communication and even gaming brands like LadyLucks providing on-the-go casino games, the Nigerian tech sector is just coming into fruition.

As a result we’ve seen several new Nigerian tech companies making the extra effort to stake their claim to this new market. Hotel booking companies like Hotels.ng have sprung up to cater to Nigeria’s burgeoning tourism and business sectors, and whilst the country still suffers from relatively low internet speeds and mobile coverage, it’s clear that this is a very promising area for business.

And with firms like AfriOne developing the first Nigerian-made smartphones, it’s only a matter of time before the nation has its own version of brands like LadyLucks to ensure that there’s no part of life that can’t be enhanced by Nigeria’s growing tech scene.

Share this post with your friends and also share your thoughts by adding your comments below.

No comments

Post a Comment