By 2030, I expect 80% of richest Nigerians to have made money from technology. Nigeria is having its finest cambrian moment on the formation of enduring companies. The last time we were this bold, on entrepreneurial capitalism, was in the early 1990s when some of Nigeria’s current leading banks were established.
The 1990s gave us the new generation banks. The 2000s brought voice telephony. The 2010s ushered mobile internet. The 2020s would deliver the era of application utility across industry sectors and market territories.
We will see software systems change the ordinance of markets by “eating” frictions along the way. From education to healthcare, from financial services to logistics, and beyond, it would be exciting. The empires of the future are being built – get ready, Nigeria is a promise!
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That is going to be the Wave 1 (biased for Nigeria) as I noted in this presentation on “Investing in Africa’s Next Unicorns”. The Wave 2 for Nigeria will be when young men and women suddenly have resources and they will begin to build catalytic infrastructures. The people that will fix clean water, electricity, etc problems in Nigeria are going to come from men and women who are passing this application utility moment. I expect that to begin 2035, the Critical Infrastructure Era.
Be optimistic and #believe.
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