Across Africa’s economy, from transportation to insurance, marketing, agriculture, e-commerce, education, and even energy, Nigerian startups have been redefining, disrupting, and finding scalable solutions to long-time problems in Africa. Recipients of 20% of the $7 million raised by African startups in 2018, these startups are taking their solutions beyond the shorelines of Africa and are disrupting global scenes.
This 2019, Nigerian startups aren’t slowing down at all or giving their counterparts the opportunity to catch up with them. New startups are bound to spring forth and watching how they innovate and take on more challenges will thrill us to no end. While they are warming up for take-off, here are 5 Nigerian startups we all need to watch out for in 2019:
Driven by the desire to reduce maternal and infant mortality in Africa by 45%, Babymigo is a startup committed to building a digital community that provides the right assistance and education for pregnant women and new mothers. With access to some 7,000 local medical experts ranging from gynaecololgists to paeditricians and even lactation consultants, Babymigo has been recognized as one of the 50 Most Genius Companies of 2018 by TIME Magazine.
Doubtless to say, Babymigo is on track to achieving its mission connect moms-to-be and moms with medical experts, information, and other parents. It already has 90,000 registered users and its app has been downloaded 30,000 times. With so many days left in 2019, catering for 400 million parents across Africa is something it might be doing real soon.
CowryWise might not have babies and mothers in mind but it has also been identified as one if the 5o World-Changing startups to watch in 2019 by Kairos, a U.S. early-stage invested fund. The brain child of Razaq Ahmed and Edward Popoola, CowryWise is a FinTech company that offers premium financial services in cost-affordable ways. It achieves this by helping Nigerian investors invest in high-yielding government bonds.
Poises on keeping the its services simple, secure, and rewarding, CowryWise investment platform is very well automated. Customers have the option of either investing or saving via its website, Android mobile app, or its Facebook Messenger Chatbot, Sisi.
Cost-affordable… high returns on investment… ease of use and easy access… CowryWise definitely has something great going on for them this 2019.
‘Just complete our 100% online application… We’ll review your information and communicate a loan decision to you shortly after. If approvers, you will receive funds… within minutes of loan approval.’
Talk about ‘loan made easy!’
This is exactly what PayLater has on offer for target customers who choose to make use of its financial services. Clearly identifying as ‘not a bank’. PayLater is online lending platform that offers short-term loans to help cater for urgent cash needs and unexpected expenses.
Operated by One Finance & Investment Limited, PayLater, as at June 2018, had completed over N4 billion loan transactions. Other than its lending activities, it also offers investment options to customers via its platform called PayVest.
Promising an ROI of 15.5% per annum interest rate… requiring no collateral, guarantor, or loan application fees, PayLater is set to thrive in 2019.
Think you’ve experienced all the down-sides of living in Lagos? Wait till you sit in a 3-hours traffic with no clue as to when you’d get to work.
Without doubt, transportation is one of the biggest challenges of living and doing business in Lagos. With almost 20 million people commuting from one place to the other and a less-than perfect transportation system, ‘moving’ in Lagos is hard! Thankfully, Gokada is one of tech startups tackling the ‘issue’ and also offering ‘speed’
Offering motorbike hailing services, Gokada allows customers to request and pay for motorbike rides via its mobile app. To ensure safety, Gokada has a system of vetting its bike riders. It also provides passengers with crash helmets and hair nets.
With it track record of success, Gokada might just decide to extend its operations to other axis of Lagos. We sincerely hope they do!
Like Gokada, KoloPay is also interested in traffic… not just the Lagos traffic. The ‘traffic of its interest’ is to see a rise in the number of Nigerians consciously adopting a saving-culture. Offering its financial service via its mobile and web applications, KoloPay helps users save towards planned goals – vacations, rent, furniture, cars, etc.
To further sweeten the deal, KoloPay offers users 6% interest on their savings and also operates an e-commerce store gives discounts on products and services when users redeem their savings on due dates.
Hoping to perform over N1 billion transactions in no distant time, 2019 might be a great year for KoloPay as it keeps on inspiring Nigerians to save up some more.
So, here’s our list of Nigerian startup we all need to look out for in 2019. Think we left out a startup from list? Do share your thoughts with us. We wouldn’t mind updating our list.
Have a beautiful and profitable 2019!