By Dwelleth Morountodun
The National Information Technology Development Agency (NITDA), on Friday, said Nigeria remains the top funding hub for tech startups in Africa with an investment of $334.5 million as at January 2019.
This, the agency revealed is according to a report by AppsAfrica.
The Minister of Communications, Mr. Isa Ibrahim Pantami, will be leading Nigerian businesses and economic players to attend this year’s Gulf Information Technology Exhibition (GITEX 2019) in Dubai, United Arab Emirate from October 6, Monday till the end of the week.
Mrs. Hadiza Umar, Head Media and Corporate Affairs of the agency, in a statement made available to the media in Abuja, said the minister will offer insights on how investors can get maximum ‘Return on Investments’ (RoIs) from the ICT sector of the economy and will also be demonstrating why Nigeria is the bride of the moment and a place to be for investment.
Pantami, said due to the present administration’s ability to turn the country’s challenges to opportunities; and how the ease of doing business policy of the government has transformed the economic climate of the country especially in the ICT sector.
The sessions she added will offer firsthand investment information on the increasing opportunities in the industry vertical areas of education, cybersecurity, e-government, startups, retails, energy, healthcare, fintech, and agrotech industries.
He said: “It is no longer news that Nigeria has the largest ICT market in the continent of Africa as she maintains her lead as the Africa’s largest economy.”
“The five days GITEX 2019 Technology week will feature several hours of conferences, forums, tech talks and meetings with the main theme: Synergizing the Mind and Technology Economy covering sectors like Future Mobility, Artificial Intelligence, Blockchain, Smart Cities, 5G, Gitex and Lifestyle Tech among others. Discussant will x-ray why venture capitalists and angel investors should be looking at Africa’s largest economy for startup funding.
In a related development, the Director General/CEO, National Information Technology Development Agency (NITDA), Mr. Kashifu Inuwa Abdullahi CCIE will be co-hosting the GITEX Africa Investment Forum (AIF) on October 9, inside the Dubai World Trade Centre.
The AIF will feature speakers and audience from across the continent sharing Africa’s inspiring growth curves and challenges as the continent grapples with diverse development issues.
Meanwhile, the statement further said AIF will be offering an interactive and pitch session for Nigeria startups with focused discussion on what to know about Nigeria’s tech startup ecosystem. Nigeria, by the size of her equity investment, drew more venture capital in 2018 and has sustained that trend in 2019 than its Southern and Eastern African counterparts.
“The AIF will also be hosting a session on Accelerating Sustainable Chinese Investment in Africa’s Infrastructure Lessons from the Belt and Road Initiative, where the different perspectives on the impact of trade and investment from Chinese stakeholders; from funding major infrastructure alongside strategic entry by technology companies like Tencent, Alibaba, Baidu are helping the advancement of industries in Africa.
There will also be a CEO Connect Hosted by Gulf Africa where discussions will give real world perspective to help prepare startups to take on and succeed in doing business in Africa. Notable CEOs featuring includes; William Skidmore, Editor, Gulf Africa Review, Lare Ayoola, CEO TRANTER IT, Evelyn Lewis, CEO SBTS Group among others.