Co-founder and Managing Director of Kuda Bank, Babs Ogundeyi has said that despite the global economic downturn, opportunities still exist in Nigeria’s tech ecosystem for investors.
Speaking in Lagos, Ogundeyi said the global economy has been bedeviled by various challenges, inevitably affecting how much African tech startups have been able to raise compared to previous years.
Speaking further, the Kuda Bank MD emphasised that the recent developments have not taken away the opportunities available in the technology sector in emerging markets like Nigeria.
“Nigeria’s population size could double in the next 25 years. Digital transactions have grown significantly. With the increased demand for technology in the country and better internet service, the services will become cheaper.”
He added that the financial services sector provides a lot of opportunities for investments in the Nigerian economy.
“Nigeria has grown significantly in a very short time in terms of human capacity, tech, expertise, training etc. However, the next 10 years will be very pivotal. I believe there is going to be a lot more adoption as technology is growing astronomically.”
