The change-makers in Nigeria’s new digital economy are turning today’s challenges into tomorrow’s opportunities. They are the tenacious new wealth creators in a country that celebrates its 60th anniversary in October. According to a 2019 report by the Center for Global Development, Nigeria overtook South Africa as the leading investment destination with 55 active technology hubs accounting for a total of $94.9 million in funds raised in contrast to the $60 million raised and 59 active startups in South Africa. Furthermore, the country is considered Africa’s biggest technology market and accounts for 24% of internet users in Africa with 126 million people online in December 2019, as per figures from Internet World Stats, 2020. The Nigerian Communications Commission estimated the country had the largest number of telecommunications subscribers with a tele-density figure of almost 96.76% last year. Matt Warman, the United Kingdom’s Digital Minister, in a report published by the UK’s Department of Digital Culture, Media and Sport, estimated that Nigeria’s tech sector is projected to create some three million jobs and generate $80 billion for the economy by 2021.
SOURCE: FORBES AFRICA
More Stories
Senegalese Chef Pierre Thiam Wants African Food to be Considered World-Class
Africa Avant-Garde: Transformative Architecture
Nine Must-See Queer History Spots in Africa
Africa Fashion Up Contest Celebrates Future of African Style
Abel Selaocoe Finds a Home in Improvisation
Movie about African Warrior Queen a Hit at the Box Office
One of the Zambia’s Best-kept Secrets
Africa’s Largest Air Cargo Operator Bags Two Prestigious Awards at Air Cargo News Awards
Namibia Calls Out to Adventurous Hikers
A New Bespoke 21-day African Luxury Itinerary
Tough Times Lie Ahead for Banks in Africa
The Most Prominent Challenge Female Entrepreneurs Face across Sub-Saharan Africa