Nigerian startups on showcase at London Stock Exchange
By Alexander Chiejina
Astravest, Famasi Africa, Creditchek, Pivo Technology Inc. and Quantum Analytics Limited are five of the seven businesses that were presented to investors, corporations, and industry professionals at the London Stock Exchange discussing investment options. These businesses were looking to raise from $1 million to $15 million or more in capital from investors for a variety of sectors.
A list of the startups is given below:
Astravest (Nigeria) is a trading platform that provides investors with access to investments in real estate, fixed income securities, and commodities. Users can increase reliable incomes with reduced fluctuation thanks to them.
Famasi Afrcica (Nigeria) is a digital health platform that enables users to access their medications, plan doorstep deliveries, automate monthly refills, and communicate with medical professionals. Famasi ensures that those with chronic illnesses never run out of their medication.
By confirming the creditworthiness of potential African customers, Creditchek (Nigeria) assists lenders in reducing credit risks.
In order to serve the needs of SMEs in Africa’s supply chain and logistics industries, Pivo Technology Inc. (Nigeria) is developing financial solutions.
A training platform called Quantum Analytics Limited (Nigeria) assists Africans and people of colour in upskilling, making the shift into tech employment, and exploring international opportunities.
Other African startups also showcased at the London Stock Exchange includes:
The Safiri App (Tanzania), which is transforming the transportation sector by automating bus operators’ operational tasks to boost their profits.
For African banks and fintechs, Knabu (United Kingdom) secures transaction settlement, facilitating effective commerce and transactions.
By filling in the gaps left by traditional banks, Waya (Kenya) is digitising banking for underserved and unbanked Africans and immigrants in the USA.
PremierCredit (Zambia) is a microlending network that links lenders and borrowers, providing Micro, Small and Medium Sized Enterprises (MSMEs) in Africa with accessible financing solutions.
A technological solution company in Kenya named eBiashara Africa helps companies create, develop, and introduce cutting-edge solutions across a variety of industries.
A mobile payment and loyalty firm in Egypt called Zeal uses artificial intelligence (AI) to give retailers data, analytics, and tools to predict human behaviour.
By giving SMEs with no credit history or track record access to financing, Profitshare Partners (South Africa) is upending conventional financial paradigms.
According to The Big Deal Report 2023, African digital start-ups raised $1.3 billion in the first quarter of 2023 (including exits). This is a 29 percent Year-on-Year (YoY) fall and a 52 percent decline (excluding exits), underscoring the ecosystem’s challenges.
Despite having a fast-growing environment for tech startups, Africa is a potential tech superpower that is yet far behind the rest of the world. Leveraging mobile phones instead of landlines and e-banking and mobile money while traditional banking rates were still low, the continent has already been at the forefront of leveraging technology to advance traditional development methods.
African tech innovators are already producing some of the most interesting ideas in the world. Africa is home to the largest free-trade region in the world and has the highest rates of entrepreneurship. The continent has untapped technological potential, and the moment to act is now. Africa may develop into a technological giant with the right economic environment, enough financing, and solid linkages.