The global startup scene has been hit by several headwinds in 2022. Rising inflation, the war in Ukraine and falling tech stocks around the world have created market volatility and dampened investors’ confidence in tech companies.
Nigerian tech startups once thought to be insulated from shocks in the global tech community (because investors saw startups in emerging markets as high-yield investment opportunities), are beginning to feel the heat. Venture funding is now more difficult to come by and operating costs are rising. Many startup companies in the country have been forced to lay off their employees as a result, while those that have chosen to tread a more benevolent path have slashed staff salaries instead.
Exploring strategies that Nigerian startups and SMEs in the tech space can leverage to overcome these challenges, find the right path to profitability, and achieve sustainable growth will be the focus of the next edition of Wema Bank’s SME Webinar. Themed, “From Startup to Unicorn: Strategies for Sustainably Scaling a Tech Company in Nigeria,” the webinar is scheduled to take place on Friday, October 21, 2022, by 10 a.m.
Guests on the programme will be entrepreneurs and subject matter experts with vast experience and deep expertise in the local and global tech startup scenes. Ashim Egunjobi is the Managing Partner of Octerra Capital, a venture capital fund that invests in African and Africa-focused tech and tech-enabled startups; Oluwole Oyeniran, Partner and Enterprise Technology and Performance Leader and TMT Leader for Deloitte in West Africa; and Eyitayo Ogunmola, founder and CEO of Utiva, an ed-tech startup that helps people to acquire in-demand tech skills.
For further information on the programme or enquiries about Wema Bank’s business advisory and beyond-banking services for SMEs and startups in Nigeria, please contact the Wema Bank SME team via smehelpdesk@wemabank.com or Chinedu Nnawetanma via chinedu.nnawetanma@wemabank.com.
