Convener of Offchart NXT and founder of #STARTUPSOUTH, Uche Aniche, has said Africa’s next generation of successful startups could emerge from secondary cities rather than established technology hubs.
Speaking during an interview with ARISE News on Friday, Aniche urged investors to look beyond major cities such as Lagos and Nairobi to identify promising businesses in emerging startup ecosystems.
“The next big companies are not necessarily going to come from the usual hubs. They’re going to come from places that investors are not looking.”
He said Africa’s startup ecosystem was expanding, with smaller cities presenting investment opportunities for businesses capable of delivering returns.
“Africa’s startup ecosystem is showing signs of progress, with emerging markets and cities offering opportunities for businesses that can deliver returns.”
Aniche cited the emergence of the Benin Republic among destinations attracting startup funding as evidence that investment opportunities were not limited to the continent’s traditional technology hubs.
“Capital is not necessarily looking for the big cities. It’s looking for opportunities, it’s looking for places that can return investment.”
Aniche said Port Harcourt and Enugu were emerging as important centres of entrepreneurial activity, highlighting the growing business opportunities across Nigeria’s South-South and South-East regions.
“Port Harcourt and Enugu are emerging centres of entrepreneurial activity, with significant opportunities for business growth and investment.”
He said Port Harcourt had the highest number of startups emerging from the wider region, while Enugu had a slight advantage in the amount of funding raised.
“Port Harcourt leads in the number of startups emerging from the region, while Enugu has a slight advantage in the amount of funding raised.”
He also highlighted Rivers State’s potential for technology-driven businesses, particularly given its strong oil and gas industry and the operational challenges companies in the sector face.
“Rivers State has enormous potential for technology-driven businesses, especially in the oil and gas sector, where companies face several operational challenges.”
He said startups should take advantage of these challenges by developing technology-driven solutions, particularly in equipment maintenance and business operations.
“Turn these challenges into opportunities by developing technology-driven solutions.”
Aniche further highlighted the growth of innovation beyond Lagos, citing Escor, a Port Harcourt-based energy company that recently won the Moonshot Battlefield competition and a Nigerian energy startup pitch competition.
“Escor, a Port Harcourt-based energy company, recently won the Moonshot Battlefield competition and a Nigerian energy startup pitch competition.”
According to him, businesses such as Power Labs, an energy company based in Akwa Ibom, and RipVest, an agricultural technology startup, demonstrate the growing potential of regional startup ecosystems.
“Power Labs, based in Akwa Ibom, and RipVest, an agricultural technology startup, are examples of businesses emerging from these regional ecosystems.”
Aniche called on investors, technology companies and other relevant stakeholders to recognise and support emerging startups from cities outside Africa’s established technology hubs.
“Promising startups are emerging from cities outside Africa’s established technology hubs.”
Goodness Anunobi
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