Yes, Mr. President Can Take the Credit – Nigerian Startups Outperformed South Africa and Kenya on Deals in 2018

Yes, Mr. President Can Take the Credit – Nigerian Startups Outperformed South Africa and Kenya on Deals in 2018

People, I have seen the report where politicians have quoted me, making the case that Nigerian startups have raised most money, in a year, under the present government.  “In terms of the number of deals, all inclusive, NIGERIA outperformed all other location[s] with a total of 136 deals. South Africa, which gave it a close competition stood second with 107 deals, followed by Kenya with 73 deals, Prof Ndubuisi Ekekwe

This is what happened: I shared a research data from WeeTracker which tracked funding in Africa. The data is not mine, and technically my name should not have been quoted that way. But they indeed included a link from my blog as a reference, quoting me thus. Check that link; the quote was actually from WeeTracker’s website.

That said – the report is factual. Simply, under President Buhari, Nigerian startups have raised more money, per year, sequentially since 2015. Yet, that has followed a trajectory since 2012. I expect that to continue to happen till early 2030 unless there is a massive global recession. It is a record, and please give it to Mr. President if they want to campaign with it, even if you think that capital expansion would have happened, irrespective of whoever is in Aso Rock.

Tekedia Mini-MBA (Sep 12 – Dec 3 2022) has started; registration continuesRegister here. Cost is N60,000 or $140 for the 12-week program. Beat early bird for free books and other bonuses. 

Simply, except the name on the quote, Mr. President has all the rights to make that claim. Nigerian startups raised MOST money in 2018 than ever. You decide if that can attract votes but do not call it fake news.


#1. Advance your career, run your business better with Tekedia Mini-MBA (Sep 12 – Dec 3, 2022): cost is N60,000 naira ($140). Click and register here.

#2. Click here and register for Tekedia Startup Masterclass and master business secrets from start-up to unicorn. Cost is N180,000 naira ($400).

#3. Click here to join Tekedia Capital Syndicate and own a piece of Africa’s finest startups with small investment.

Share this post

Post Comment