The largest financial institution in Nigeria is not a bank. That startup can buy the two largest banks in Nigeria and still have change. The one which comes after it processes US$12 billion monthly. From financial services to logistics, Nigeria’s largest logistics startup can buy the top five traditional logistics firms conveniently. This redesign cuts across industrial sectors and domains. While it takes decades for some financial institutions to hit one million users, Tekedia Capital portfolio startup, Touch and Pay, did from 1,000 users to 3 million users in three years.
Good People, by 2030, I expect 80% of the richest Nigerians to have made money from technology. Nigeria is having its finest cambrian moment 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 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.
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We will see software systems change the ordinance of markets by “eating” frictions along the way. From education to healthcare, from financial services to logistics, and beyond, it would be exciting. The empires of the future are being built. That was the reason I founded Tekedia Capital and today we hold positions in dozens of companies.
As exits begin to happen from 2026 looking at the curve, a new generation of business leaders will emerge in Nigeria. In the next coming weeks, we will open the next cycle of Tekedia Capital Syndicate; I invite you to come and learn about the companies I am investing in. We invest $$millions yearly to seed and empower these builders, innovators and category-king agents.
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What is the numerical strength of the ‘Richest Nigerians’, 10, 50, 100 or 500? That would help plot the chart for 80% of them by 2030, and the pathways. Any guarantee that a fintech with $10 billion valuation will still have a Nigerian controlling 20% stake in it? These are the real issues.
Well, by 2030, we also expect the economy to hit atleast $1.5 trillion, if we are really working, and with that, who says we can’t have handful of entities with minimum of $10 billion in annual revenue?
The race is on…