🥂Here's to more disruptions and innovation🥂
Hello Venturer,
It’s the last day of 2021, and coincidentally, it’s a Friday.
For many, this has been a week for reviewing and reflecting. And it’s no different for us as an organisation. There were so many internal changes this year. Big and small. Apparent and not-so-apparent. All for the improvement of the organisation and to serve you better.
We relaunched our newsletter this year. We also conducted several website migrations and a few modifications. Then there’s the editorial change - the stories, the people telling the stories, and how they tell the stories.
This year we reverted to telling more original stories on business, policy, and innovation (technology), away from aggregated news stories. And when we covered news stories within our areas of interest, it was through a critical lens. I say reverted because original and analytical storytelling is not new to us. But, it was scarce for a while.
We also experimented and continue to experiment extensively on social media, owing to the constant advancements on different platforms. From new features and tools to algorithm updates, social media can be a little intimidating.
Speaking of advancements, industries and economies are experiencing profound disruptions, thanks to technology. Technology is reshaping our lives and shaping our future. Soon we’ll be living in the metaverse, and it is both exciting and scary.
As the curtain falls this year, some things are certain - as the world evolves, we will evolve along with it. Right now, we seem to be in a moment of in-betweenness due to the reemergence of COVID (Omicron). But we are hopeful 2022 will be better; I mean, look at all we achieved as a publication and as a continent this year.
Cheers to a new year!
Hadassah Egbedi
Editor, Ventures Africa
What happened to Nigeria’s economy in 2021?
Nigeria reported economic growth at the end of each quarter this year. But its only metric was GDP, which does not tell of the economy's health. So how did Nigeria's economy do? We'll leave you to decide by looking at how it performed in some key areas. Read more.
Significant business and policy events in Nigeria in 2021.
From strategic economic policies to the passage of bills and a clampdown on businesses, the Nigerian government has had a busy year. However, whether these policies aided economic growth or recovery is debatable. Read more.
Seven notable innovations in Africa in 2021.
It’s no longer debatable that Africa’s tech industry is promising. Innovators are defying the odds to prove that technology is Africa’s diamond in the rough and is worthy of the world’s attention. We have selected innovations from all over Africa with notable impacts that have the potential to compete globally. Read more.
Errand 360 is fostering sustainable last-mile delivery in Nigeria.
From Gorillas in Germany to Babboe in France, cycle logistics is emerging as a promising alternative in urban freight transport, globally. Now, Nigeria has such a sustainable alternative – Errand 360, founded by Adetola Adele and David Ayodeji in Nigeria. Read more.
Some of our favourite stories this year.
Below you’ll find more stories on innovation, disruptions, and questionable policies.
Kuda Bank’s $500 million valuation.
"Fintechs are called disruptors because that's what they often do - disrupt. This year, Kuda, a four-year-old digital bank, hit a $500 million valuation, making it the seventh most valuable bank in Nigeria, a milestone many traditional banks that have operated for decades are yet to cross. I love this article because it foregrounds digital banks are here to stay and shows the need for brick and mortar banks to start adapting to changing times." - Kunle.
Crypto bans vs the case for cryptocurrencies.
"Many African governments frown at cryptocurrencies. Some have outrightly barred them. But that hasn’t stopped the mass adoption happening on the continent. A few minutes before writing this story, I imagined standing behind a podium, with a debater standing opposite. Many people think cryptocurrencies are altogether a money grab or scam. But they don’t realize that Africa needs crypto more than the USA and other first-world countries. I like this story for its convincing arguments. In a way, I felt like I had won that imaginary opponent." - Tosin.
The Nigerian startup eliminating chronic debtors one search at a time.
"Ever received a message from a loan company asking you to tell an acquaintance to pay a debt. Such occurrences are becoming more common. Loan defaulters have become a source of frustration to many. Ayoge Bassey's Blacklist helps companies, money lenders, and other financial institutions identify debtors and make better credit decisions. The innovation and its impact thereof makes this story a favourite of mine." - Kunle.
Chooya: Africa’s TikTok for e-commerce.
"After operating as an e-commerce platform for more than a year, an Aba-based startup becomes a million dollars richer by simply rebranding. There are several things to love about this story. First of all, it’s a success story, and everyone loves success stories. Location choice often plays a huge part in determining business success. But this time, someone dares to say “you can build from anywhere” and still bags global attention. It’s also a subtle reminder of the many talents and startups building great solutions outside popular cities." - Tosin.
Why should food production be seasonal when hunger isn't?
"I have spoken with a significant number of agritech innovators doing extraordinarily well in Africa's agricultural space. Samuel Ogbole stands out. His approach to solving food insecurity in Africa is remarkable. Ogbole grows crops in the most unlikely place - the air. Players in his space are relatively few, but there is a bright prospect." - Kunle.
John Amanam: The pioneer of pan-African prosthetics.
"After making a prosthetic hand for his amputee brother, John finds out he is the first African to create prosthetics for dark skin tones. After speaking with John Amanam about his innovation, I realized a regular Q&A wasn’t the best way to tell his story. Amanam is not a man of many words, but his story is intriguing. So the best way to tell his story was to say the words he wasn’t saying. I love this story for the message it carries and the style of delivery." - Tosin.
Happy New Year!
Remember to stay safe!
