By 2030, I expect 80% of the richest Nigerians to have made money from technology. For all the paralysis in the land, Nigeria is having one of its finest cambrian moments on the formation of enduring companies. The last time we were this bold, on entrepreneurial capitalism, was in the early 1990s when some of Nigeria’s current leading banks were established.
The 1990s gave us the new generation of banks. The 2000s brought voice telephony. The 2010s ushered mobile internet. The 2020s would deliver the era of application utility across industry sectors and market territories.
We will see technology systems change the ordinance of markets by fixing frictions. From education to healthcare, from financial services to logistics, and beyond, it would be exciting. The empires of the future are being built – get ready, Nigeria is a promise!
From next week,Tekedia Capital Syndicate will be writing cheques to about 8 companies. Sure, in this cycle of our syndicate, we will be investing in Congo DRC, Canada, USA, Togo and of course Nigeria! It’s time to #build!
What specific tech is precisely the future money minting that one can leverage now in anticipation of billionaires boom by 2030. Your advice sir. I do enjoy your post and will like to be your student.
— Agility#Arinze (@RIZE_HIFIS) April 9, 2024
My Response:
We think there are still latent opportunities in digitizing sectors and supply chains across Africa. In most advanced countries, if you eat corn in a restaurant and have a problem, they can trace the farm which supplied the corn, within hours.
In Nigeria, from Aba shoes to Ovim maize, organizing all those remains opportunities. Indeed, when we do, we can then have commodities traded at scale. Then in real estate, we do not even have them at scale in NGX, and that should tell you that our real estate market is still at infancy.
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Fintech has done its job as people have to be paid in any sector. Going forward, I expect builders to focus on sectors, embedding the fintect element for payment.
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