Episode 214: Ecosystem Zoom-In - The Nigerian Case

In the latest episode of Breaking Banks Europe, host Elizabeth Kleinveld welcomes two prominent figures in the African fintech landscape. Tunde Ogundipe , the CEO of E-Doc Online , a financial data connectivity gateway to African Emerging Markets, and Uwem U. , the Head of Investments at Launch Africa Ventures , one of Africa's most active investors with over 140 portfolio companies.

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The episode delves into the evolution of the Nigerian fintech ecosystem over the past three years, exploring changes from both founder and investor perspectives. The discussion highlights the shift from solutions looking for problems to a focus on solving real market challenges using technology as a tool.

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Babatunde emphasizes the importance of addressing regulatory obligations, particularly in remittance markets, where adherence to global standards remains a challenge. He discusses E-Doc Online's journey in leveraging open banking to provide solutions for credit assessment and immigrant banking, aiming to streamline financial services access for Nigerians.

Uwen sheds light on the risk appetite of investors in Nigeria, noting a reduction in risk aversion over time but highlighting the challenges of raising funds in a relatively nascent VC ecosystem. He discusses the increasing interest in B2B fintech solutions and the role of experienced founders in driving innovation based on their corporate backgrounds.

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As the conversation concludes, the guests reflect on the burgeoning opportunities within Nigerian fintech, particularly in savings, lending, and fintech services. They highlight the growing interest in wealth management platforms and innovative solutions like fractional real estate investment, demonstrating the sector's creativity and potential for growth.

Overall, the episode provides valuable insights into the dynamic landscape of Nigerian fintech, showcasing the resilience and adaptability of founders and investors in navigating challenges and seizing opportunities in one of Africa's most vibrant ecosystems.

?? Watch the full episode here: https://www.youtube.com/watch?v=gXbL46Bq-tU&t=11s?

Article by Andrea De Caro