Enabling the Next Wave of Growth for Technology Companies in Africa

The NGX Technology Board event which was held on the 6th of October 2022, spotlighted the activities of the Nigerian Exchange Group in contributing to the growth of Nigeria’s tech ecosystem by creating opportunities for local investors to participate in the funding of high-growth companies.

The session which was moderated by Nnena Onyewuchi, had in attendance distinguished personalities such as Kendall Ananyi (CEO, Tizeti Networks), Iyinoluwa Aboyeji (General Partner, Future Africa) Temidayo Obisan (Executive Commissioner Operations, Securities and Exchange Commission), Aishah N. Ahmad(Deputy Governor, Financial Systems Stability Directorate, CBN), Prof. Olayinka David West (Associate Dean, LBS), Erelu Angela Adebayo (Board Member, Nigeria Exchange Limited), Segun Cole (Partner, Fund the Gap Alliance) Temi Popoola (CEO, Nigeria Exchange Limited) and Oswald Osaretin Guobadia (Senior Special Assistant on Digital Transformation to the President of Nigeria and Lead for the Nigeria Startup Act).

The keynote address, delivered by Oswald Osaretin Guobadia laid the foundation by expounding on how industries and organisations can enable the next wave of growth for technology companies in Africa. He further stated that technological innovation would continue to drive change and solve problems across various sectors both now and in the future. He noted that the current growth trajectory of the tech ecosystem is here to stay and urged that as citizens, ecosystem builders and change agents we must champion and enable the next wave of growth for technology companies in Africa.

He reiterated his belief that the next startup that would impact the world would start in the African/Nigerian village and that the Nigeria Startup Act is designed to help discover these startups, help them to scale quickly and thrive by providing them with an enabling environment. In his words “Africa is the now and future”, and as such those in the tech ecosystem, should do their best to enable its growth.

He concluded by stating that collaboration is the core of every ecosystem and it is our collective responsibility to join the efforts to enable the next wave of growth for technology companies. The Nigeria Startup Act serves as an example of collaboration between the public and private sectors in Nigeria and as such should be supported by all citizens. Moving forward, the next phase of this Act is state adoption and implementation and all hands must be on deck to ensure that this happens across all 36 states.

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The Nigeria Startup Act

The Nigeria Startup Act

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The NSA is a joint initiative by Nigeria’s tech ecosystem and the Presidency to harness the potential of our digital economy through co-created regulations.