Lagos has become one of the 10 biggest cities in the world. The Nigerian megacity (Lagos) has been growing at an exceptional rate, and if it continues with its present pace, it might soon have more residents than all of Great Britain within several decades. With the explosion in the country’s population comes a boom in its internet users, with up to six million users every year. As more people get up to speed online, ambitious entrepreneurs have been starting up companies offering a wide range of relevant services needed throughout the country. Currently, it’s estimated that there are about 450-700 startups across Lagos, in what has become known as the ‘Yabacon Valley.’

Though ‘Yabacon Valley’ is no match for Silicon Valley in terms of overall scope, Lagos-based startups are currently worth an estimated US$2 billion, the most in all of Africa. This year alone, tens of millions of US dollars in mostly foreign investments have been helping to support the dreams and ambitions of many Nigerian entrepreneurs. These entrepreneurs are well educated, as an estimated 93 percent of Lagos based founders have a technical background. This is the third highest concentration in the world. However, despite a growing amount of seed money and know-how, four out of every five startups in the country fail within the first three years. This is as a result of proper planning and mismanagement or not meeting with the society needs. But that didn’t prevent other entrepreneurs to continue their quest in setting up their dream Start-up Companies.
Obiweluozor Agu and Chike Ilonuba are two business owners in Lagos who are set and determined to succeed with their company, called BOCA Konsult Global Services Ltd., which was formed in 2015 following the privatization of Nigeria’s power supply industry. Traditionally, Nigerians either waited for their electricity bill at the end of the month to make a payment, a process known as post-paid, or purchased an energy token for a set period of time, a process known as prepaid. In the latter case, after purchasing the token, customers input a 20 digit number into their meters in order to get access to daily electricity. However, the payment process was inefficient, as many customers were literally left in the dark if their bill wasn’t paid. Many companies in that sector have wanted to improve their payment services so customers who work during the day could pay for their bills after hours, without having their power cut off.


In the near future, BOCA is even looking at ways to use IBM’s Blockchain technology to further strengthen their payment solution offerings.


As Nigeria’s active startup scene attracts more and more attention both locally and globally, IBM Africa has also seen a notable increase in companies seeking out their services for innovative solutions, in addition to a sense of security, reliability and dependability. Such a solution is enabling startups like BOCA transform from struggling companies into thriving ones. “IBM expects the upward trend to continue because there has been a lot of interest and there has been significant growth in the sector,” says Faulkner.

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Yabacon ko, Yebacon ni.... Africa is set for doom, and all the freestyle startups in Africa will die in decades to come... Chinese will take over every dem thing on this soil and Africans will have no option but to slave for them. Africa has no future, not with the mentality of people currently residing in Africa.. you all are rétarded fools and will likely perish due to the effects of climate change.

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Yabacon ko, Yebacon ni.... Africa is set for doom, and all the freestyle startups in Africa will die in decades to come... Chinese will take over every dem thing on this soil and Africans will have no option but to slave for them. Africa has no future, not with the mentality of people currently residing in Africa.. you all are rétarded fools and will likely perish due to the effects of climate change.

You're a cunt.
By saying "you are all retarded fools" I'm guessing you're not an African yeah?
If you are, then you're probably part of the "retarded fools" as you say
You can't generalize things...even though a lot of Africans are illiterate after Africa was raped and subdued by the west pre independence, it doesn't mean that Africa would not be great ever again.
I hope Africa becomes great and you should too..but as a dick, you just came online to spit garbage...
But, what has climate change got to do with it?...
You're obviously a troll and you're better off not existing cos you sound like you're basically useless to humanity.
I don't care if you're achieved anything in life...you obviously tell lies to yourself but just know this: You're useless and be proud too..cos you'd die and no one will give a shit about you.
Bleep you very much.