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Serena Williams’ investment boots Nigeria’s technology sector

Serena Williams’ investment boots Nigeria’s technology sector

NIGERIA is the leading African destination for foreign direct investments in technology startup businesses. Between 2015 and 2022, Nigerian technology startups have secured funding totalling just over US$2 billion. This is the highest amount of funding recorded by any country in Africa. The “big-four” countries of Nigeria, Egypt, South Africa and Kenya, are leading Africa’s startup scene. They currently account for about a third of the continent’s start-up incubators and accelerators and receive 80% of technology startup FDI into Africa. What is interesting is that Nigeria remains the top destination for technology investments in Africa despite its endemic corruption, high…
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