Welcome, Guest: Register On Nairaland / LOGIN! / Trending / Recent / New
Stats: 3,164,834 members, 7,858,959 topics. Date: Thursday, 13 June 2024 at 03:09 AM

Why Are All Tech Startups In Nigeria Fintechs? - Programming - Nairaland

Nairaland Forum / Science/Technology / Programming / Why Are All Tech Startups In Nigeria Fintechs? (1700 Views)

Steering The Wheel Of Tech Startups In Nigeria / Calling All Tech Gurus / Learn At All Tech Systems (2) (3) (4)

(1) (2) (Reply) (Go Down)

Why Are All Tech Startups In Nigeria Fintechs? by sixpathsofpain: 7:39pm On Jul 04, 2022
When you hear tech startups in Nigeria, it's always a fintech, fintech, fintech... There are so many fintech startups in Nigeria that I believe it's beginning to become overly saturated. Why can't we have other tech startup in Nigeria that aren't fintech ? It would really be a thing of joy for me to see the rise of a Nigerian tech company that can challenge the likes of tencent, Tesla , apple, Samsung, space x, and all those big tech companies that aren't fintech.
Everything is not and must not be fintech

2 Likes

Re: Why Are All Tech Startups In Nigeria Fintechs? by BlaqFaze: 7:52pm On Jul 04, 2022
Imagine doing a Telsa in Nigeria... you'll go broke, nobody can afford that.

Startups need funding to start and they need to convince the investors that the startup will be profitable...Tesla, Space x, Tencent simply don't have a market in Nigeria.

5 Likes

Re: Why Are All Tech Startups In Nigeria Fintechs? by soberdrunk(m): 7:57pm On Jul 04, 2022
sixpathsofpain:
When you hear tech startups in Nigeria, it's always a fintech, fintech, fintech... There are so many fintech startups in Nigeria that I believe it's beginning to become overly saturated. Why can't we have other tech startup in Nigeria that aren't fintech ? It would really be a thing of joy for me to see the rise of a Nigerian tech company that can challenge the likes of tencent, Tesla , apple, Samsung, space x, and all those big tech companies that aren't fintech.
Everything is not and must not be fintech



Where will startup capital come from? Which bank or financial source in Nigeria will invest in R and D that might take 5-15 years?? angry

5 Likes

Re: Why Are All Tech Startups In Nigeria Fintechs? by Nobody: 8:02pm On Jul 04, 2022
Fintech is where the easy money is
Re: Why Are All Tech Startups In Nigeria Fintechs? by tensazangetsu20(m): 8:33pm On Jul 04, 2022
Do you know what it takes to build a hardware startup. It's very hard in the west and you now wanna do it in a shithole like Nigeria lol. Good luck to whoever embarks on such an idiotic journey.

7 Likes

Re: Why Are All Tech Startups In Nigeria Fintechs? by SavageBoy: 9:26pm On Jul 04, 2022
But we have Innoson na grin

You mentioned Tesla, space X and the likes, let's say there is enough money for funding, how many CEOs in Nigeria will exhibit the extraordinary kind of drive and patience Elon musk had in the early days of Tesla and spaceX, when the future of these companies were bleak? Everybody here wants to join the fast moving train... Even me sef grin

And if there is anything that's killing us here the most is; tribalism and bias. On a norms, if Innoson was in the US, he would have become one of the richest men in the world. Can we embrace and support indigenous products without bias, tribalism or nepotism?

All these are minor reasons sef, the main koko is; Nigeria have a way of killing promising investment venture with her bad and destructive governmental policies.

7 Likes

Re: Why Are All Tech Startups In Nigeria Fintechs? by JoyousFurnitire(m): 9:26pm On Jul 04, 2022
Youths way suppose learn or embark on those startups na bad governance, lack of quality education, power failure, traffic grid lock, police brutality, hunger and co. dey kill them.

^^^ talk about talking those first undecided

2 Likes

Re: Why Are All Tech Startups In Nigeria Fintechs? by Nobody: 10:25pm On Jul 04, 2022
They are others... u haven't researched enough...

2 Likes

Re: Why Are All Tech Startups In Nigeria Fintechs? by Nobody: 10:05am On Jul 05, 2022
sixpathsofpain:
When you hear tech startups in Nigeria, it's always a fintech, fintech, fintech... There are so many fintech startups in Nigeria that I believe it's beginning to become overly saturated. Why can't we have other tech startup in Nigeria that aren't fintech ? It would really be a thing of joy for me to see the rise of a Nigerian tech company that can challenge the likes of tencent, Tesla , apple, Samsung, space x, and all those big tech companies that aren't fintech.
Everything is not and must not be fintech

Me too I've always thought it was pathetic and just lazy, like why build something that literally 1000 people are building or thinking of buildings. Some people will say it's cos of poverty but abeg na angry Being original is always good

1 Like

Re: Why Are All Tech Startups In Nigeria Fintechs? by Nobody: 10:07am On Jul 05, 2022
tensazangetsu20:
Do you know what it takes to build a hardware startup. It's very hard in the west and you now wanna do it in a shithole like Nigeria lol. Good luck to whoever embarks on such an idiotic journey.

Stop calling you country a fvcking "SHITHOLE" angry angry
People that build fintechs at this point are straight up lazy mfs angry angry
Re: Why Are All Tech Startups In Nigeria Fintechs? by Nobody: 10:09am On Jul 05, 2022
SavageBoy:
But we have Innoson na grin

You mentioned Tesla, space X and the likes, let's say there is enough money for funding, how many CEOs in Nigeria will exhibit the extraordinary kind of drive and patience Elon musk had in the early days of Tesla and spaceX, when the future of these companies were bleak? Everybody here wants to join the fast moving train... Even me sef grin

And if there is anything that's killing us here the most is; tribalism and bias. On a norms, if Innoson was in the US, he would have become one of the richest men in the world. Can we embrace and support indigenous products without bias, tribalism or nepotism?

All these are minor reasons sef, the main koko is; Nigeria have a way of killing promising investment venture with her bad and destructive governmental policies.

Cap. Nigerians support indigenous products
Re: Why Are All Tech Startups In Nigeria Fintechs? by realunclej(m): 3:46pm On Jul 05, 2022
I am also on the journey to launch my start up. The primary products will not be Fintech but at some point I will offer Fintech products. Many of the startups are not thinking outside the box. Majority belief that only a Fintech can help you to get funding especially because of government attention to it and the public awareness.
Re: Why Are All Tech Startups In Nigeria Fintechs? by InfinityFabric: 5:06pm On Jul 05, 2022
You don't build a country on the back of PHP, Python, JavaScript and Java programmers. Even if there's will and capital we're still short on manpower.
Re: Why Are All Tech Startups In Nigeria Fintechs? by Sheriman(m): 5:44pm On Jul 05, 2022
It is because NIGERIA can't think outside the box. Everyone wants to do the same thing all the time.

1 Like

Re: Why Are All Tech Startups In Nigeria Fintechs? by Ajibade123(m): 10:00pm On Jul 05, 2022
Fintech is very easy to start and make profit even with your own personal funds unlike others that you will need heavy investors (that's where the problem comes in)
we are greedy in this country and most rich people or investor don't really see long term vision the only want fast money
Re: Why Are All Tech Startups In Nigeria Fintechs? by DanasabeZaki: 5:13am On Jul 06, 2022
God is our strength.
Re: Why Are All Tech Startups In Nigeria Fintechs? by digitite: 6:59am On Jul 06, 2022
Logistics is picking up and that's my domain.

Fintech moves in Nigeria because they love what gives them instant money.
Re: Why Are All Tech Startups In Nigeria Fintechs? by JoyousFurnitire(m): 6:35pm On Jul 06, 2022
Think4Myself:


Stop calling you country a fvcking "SHITHOLE" angry angry
People that build fintechs at this point are straight up lazy mfs angry angry

Do am if e easy undecided
Re: Why Are All Tech Startups In Nigeria Fintechs? by airsaylongcome: 7:02pm On Jul 06, 2022
digitite:
Logistics is picking up and that's my domain.

Fintech moves in Nigeria because they love what gives them instant money.

Let's link-up for this delivery thingy. I've been following two softwares in that domain.
Re: Why Are All Tech Startups In Nigeria Fintechs? by von02: 7:36pm On Jul 06, 2022
digitite:
Logistics is picking up and that's my domain.

Fintech moves in Nigeria because they love what gives them instant money.

Logistics is fine, think of rate of insecurity on our roads
Re: Why Are All Tech Startups In Nigeria Fintechs? by digitite: 10:26pm On Jul 06, 2022
von02:


Logistics is fine, think of rate of insecurity on our roads

As long as strong bikes and protective gears are given to them. cool
Re: Why Are All Tech Startups In Nigeria Fintechs? by digitite: 10:29pm On Jul 06, 2022
airsaylongcome:


Let's link-up for this delivery thingy. I've been following two softwares in that domain.

Alright man. Just chat me up on whatsapp and let's brainstorm on the industry trends and digital solutions.
Re: Why Are All Tech Startups In Nigeria Fintechs? by tollyboy5(m): 8:44am On Jul 07, 2022
tensazangetsu20:
Do you know what it takes to build a hardware startup. It's very hard in the west and you now wanna do it in a shithole like Nigeria lol. Good luck to whoever embarks on such an idiotic journey.
Don't call it an idiotic journey.

Alot of Nigerians are into it. Even tho it's hard

1 Like

Re: Why Are All Tech Startups In Nigeria Fintechs? by tollyboy5(m): 8:47am On Jul 07, 2022
SavageBoy:
But we have Innoson n Even me sef

All these are minor reasons sef, the main koko is; Nigeria have a way of killing promising investment venture with her bad and destructive governmental policies.
It has nothing to do with tribalism. How many people in east use innoson motors?

I live in Igbo dominated area in Lagos and I don't see Igbo men driving innoson motors.

1 Like

Re: Why Are All Tech Startups In Nigeria Fintechs? by tollyboy5(m): 8:51am On Jul 07, 2022
I've worked with hardware for several years. I will tell you it's as easy as software kind of stuff.
Re: Why Are All Tech Startups In Nigeria Fintechs? by SavageBoy: 11:49am On Jul 07, 2022
tollyboy5:

It has nothing to do with tribalism. How many people in east use innoson motors?

I live in Igbo dominated area in Lagos and I don't see Igbo men driving innoson motors.

Intra-ethnic bias!!

It's still the same bias I'm talking of.
Re: Why Are All Tech Startups In Nigeria Fintechs? by jyeoseas: 11:54am On Jul 07, 2022

Re: Why Are All Tech Startups In Nigeria Fintechs? by semmyk(m): 8:03am On Jul 08, 2022
The #agritech came with deceit, fraud, or got greedy or clever by one & half. The landscape overly polluted
They would have been cashing out by now. So sad
#selfdestruct
Re: Why Are All Tech Startups In Nigeria Fintechs? by CMrecords: 9:09pm On Jul 10, 2022
How's it going with the both of you, is there a room for a new member? I've been meaning to dive deeper into this space, and get to understand it more and probably start something, between, I'm a backend engineer (DevOps in view).

Kindly drop your whatsapp number if it's a go.

digitite:


Alright man. Just chat me up on whatsapp and let's brainstorm on the industry trends and digital solutions.
Re: Why Are All Tech Startups In Nigeria Fintechs? by digitite: 6:13pm On Jul 11, 2022
CMrecords:
How's it going with the both of you, is there a room for a new member? I've been meaning to dive deeper into this space, and get to understand it more and probably start something, between, I'm a backend engineer (DevOps in view).

Kindly drop your whatsapp number if it's a go.


Well, I have the project done already. What I need is an API integrator. 08089050196.
Re: Why Are All Tech Startups In Nigeria Fintechs? by chidemavian: 8:42pm On Jul 11, 2022
Some years ago, precisely during the lock down, that was how I got inspired.



The vision was not so clear and the path wasn't defined.

The task was to collaborate to build a platform.


After putting three eggs and five oranges in a small basket, a Fintec product sprang up



Today, Thriftplus, which started as a joke, now has grown into a product it never imagined to be


Providing services for daily contributions, savings loans, cooperatives and target savings,
It nows lies in a class of its own.



Visit the link


https:/ /Thriftplus.pythonanywhere.com
To get started

Re: Why Are All Tech Startups In Nigeria Fintechs? by Necrophagia: 10:23am On Jan 05
Funding is hard to get



If all these boomers in naija start supporting startups , startups go choke

(1) (2) (Reply)

Microcontroller Programming Corner - Class Continues: / I Need Help With This Php Code For Email And Sms Autoresponse / Something I Hacked Up Just Before November Last Year Before Going For Nysc

(Go Up)

Sections: politics (1) business autos (1) jobs (1) career education (1) romance computers phones travel sports fashion health
religion celebs tv-movies music-radio literature webmasters programming techmarket

Links: (1) (2) (3) (4) (5) (6) (7) (8) (9) (10)

Nairaland - Copyright © 2005 - 2024 Oluwaseun Osewa. All rights reserved. See How To Advertise. 36
Disclaimer: Every Nairaland member is solely responsible for anything that he/she posts or uploads on Nairaland.