The start-up scene seems to be rising and for good reason too. There is more funding is now available and content is now easily accessible.
With co-working spaces, incubators, accelerators and innovation hubs, popping up, here and there, the industry appears not to be slowing down.
Despite the rise, start-up culture has its own unique challenges that, needs to be addressed.
I, recently, had a chat, with Murtala Sanni, Co-founder, Wesabi, on Tech Trends show, on Channels Television and he spoke on how Nigeria should create a start-up -friendly environment in Nigeria and more.
CFA: How deep is, the penetration of technology in Nigeria?
Murtala: I think it is still early days. Penetration of technology is, still, kind of low, in Nigeria. While the users are, actually, trying our best. The citizens are making best of what we can do, with what we have, right now.
CFA: What do you think is stopping the growth of technology, the way we would expect it to be?
Murtala: Basically, I think it’s education. There was an article I read about the UN, saying that, there are about 17 million kids that are out of school, so, I think, if we can improve education, I believe we can improve the penetration of technology.
CFA: By formal education, do you mean classrooms’ physical education, because, people would say that, the number of infrastructures that we have, cannot train the out-of-school kids?
Murtala: Yes. Formal education. Ae least, people should know the basic. Basic is always a steppingstone. Nobody is, actually, going to teach you, or, take you through advanced education. Basic. Let people, at least, graduate from secondary school, so, I think that works.
CFA: As a stsrt-up, how do you think policies affect your growth, or, otherwise?
Murtala: I will talk about a policy that has, actually, affected our own start-up, which concerns payments. Now, we have two sides to our start-up.
We deal with the informal sector and most of these guys don’t have smartphones, so the payments, a lot of times, would have to be done in cash.
Maybe, if there was a technology like the M-pesa, which we could, actually, use here in Nigeria, where people can utilize USSD payment effectively, I’m not talking about Mobile Money that is going around that is, not really, Mobile Money; real Mobile Monet and payment, I think that would go a long way.
That’s one policy that could smoothen up things for businesses in Nigeria. It doesn’t, even, have to do with only start-ups with general businesses in Nigeria.
You can watch the full interview here