From Fintech to Frontier Tech: How South Africa Can Unlock Its Next Innovation Wave
South Africa has become something of a fintech powerhouse. Over the past decade, a generation of founders has reimagined payments,
When it comes to Africa’s startup ecosystem, the big four regions – South Africa, Nigeria, Kenya and Egypt – continue to dominate funding headlines, innovation and sector growth. And although there are other regions beginning to gain momentum (Ghana we see you), the big four are still the main headliners.
We previously did a dive into the startup ecosystem in South Africa, from key challenges, top venture capitalists (VCs) to the startups innovating. This time around we’re looking at another top region: Nigeria.
As 2025 unfolds, the drivers of startup growth are growing more nuanced. Investors are looking not just for fintech unicorns, but scalable models in agritech, healthtech, cleantech and other sectors that address deep structural gaps. Meanwhile, regulatory and institutional shifts are creating both opportunities and new demands.
This guide walks through the current state of Nigeria’s startup ecosystem, the top sectors, who is doing the work, what remains challenging, and who is funding all of this.
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