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 edition 14 (June 3 – Sept 2, 2024) begins registrations; get massive discounts with early registration here.
Tekedia AI in Business Masterclass opens registrations here.
Join Tekedia Capital Syndicate and invest in Africa’s finest startups here.
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.
---
Register for Tekedia Mini-MBA (Jun 3 - Sep 2, 2024), and join Prof Ndubuisi Ekekwe and our global faculty; click here.