Maintaining an enabling environment for Nigerian Businesses 🇳🇬
Hello Venturer,
This week we examine the critical success factors contributing to the rise of one of Nigeria's fast-growing fintech companies. As much as we record Nigerian success stories, the irony is that these businesses succeed despite the odds stacked against them while we generally wish for better business conditions across the board.
In the midst of all that the nation has had to go through, we will proceed while remaining optimistic that there is indeed light at the end of the tunnel. The reality is that we as a nation need to figure out how to make the most of the opportunities latent in most sectors of our national life. The future holds much for Nigeria, let's ensure we do all we can to birth a Nigeria that we can all be proud of!
Ogodilieze Osaji-Ugo
Staff Writer, Ventures Africa
The VA Pod: Herstory
This week on Herstory, learn about how women money changers in Djibouti are contributing to the informal economy and how women brewers in Kenya and South Africa established their businesses. Listen here.
How this fintech built Nigeria's largest agency banking platform in less than two years
Team Apt provides services to other financial technology companies, making it an integral part of the success story of other financial institutions or companies. The company’s business operations have led to an uptick in the patronage of agency services and have resulted in traditional banking institutions recognizing the latent value in the agency banking model. What is even more remarkable is that the company has achieved all these in just two years. Learn more.
WellaHealth - The startup providing access to quality healthcare at a pocket-friendly cost
Being citizens of a lower-middle-income economy, Nigerians often see healthcare as a luxury. In 2019, healthcare made up six percent of a Nigerian household’s spending on average. As of 2018, health insurance coverage in Nigeria was quite low, particularly in rural areas where only 1.4 per cent of people had health insurance. This number was slightly higher in urban cities where people with health insurance mainly had employer-based coverage. Learn more.
70 per cent of Nigerian businesses are unaware of privacy laws governing their marketing activities
According to a recent survey, only 30 per cent of Nigerian businesses are aware of privacy laws governing their marketing activities, despite the existence of the Nigeria Data Protection Regulation. The survey also revealed that although businesses are concerned about the privacy of customer’s data in the hands of third-party vendors, they are reliant on these vendors for revenue generation and gathering customer insights. This makes it harder for them to move away. Learn more.
10 healthcare companies and startups saving lives with technology in Nigeria
When it comes to healthcare, the adoption of technology has led to several positive impacts. The health sector continues to be shaped by advancement in digital health technologies leaving traditional healthcare systems and practices in the dust. With digital advancement, several services like drug purchase, telemedicine, health insurance, and medical consultation have been made easy. People can now access and enjoy these services from the comfort of wherever they are. See list.
How Jason English inspired the next generation of South African engineers
Sometimes, life is all about being at the right place at the right time. For Jason English, a South African entrepreneur, a serendipitous meeting at an A360 conference put him on a path to inspire the next generation of South African engineers. By helping a group of school kids recognise their potential, the story of the South African robotics kids (known as the Springbots) at the 2018 FIRST Robotics Competition is a lesson in what can be achieved when barriers are removed, and confidence is fostered. Read More.
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