{"id":32936,"date":"2023-08-01T10:16:11","date_gmt":"2023-08-01T10:16:11","guid":{"rendered":"https:\/\/www.africa-press.net\/mauritius\/all-news\/report-says-flutterwave-opay-push-lagos-startup-up-at-us8-billion"},"modified":"2023-08-01T10:43:07","modified_gmt":"2023-08-01T10:43:07","slug":"report-says-flutterwave-opay-push-lagos-startup-up-at-us8-billion","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/mauritius\/all-news\/report-says-flutterwave-opay-push-lagos-startup-up-at-us8-billion","title":{"rendered":"Report says Flutterwave, Opay push Lagos startup up at US$8 billion"},"content":{"rendered":"

Africa-Press – Mauritius. <\/strong><\/span>A new report by policy and advisory research firm Startup Genome has placed Lagos as the regional leader in the Sub-Saharan startup ecosystem in terms of the value of the ecosystem and the amount raised in funding.<\/p>\n

According to the report, the Lagos startup ecosystem calculated using the value of exits and startup valuation from the second quarter of 2020 to 2022 was valued at $8.4 billion.<\/p>\n

Lagos was closely followed by Nairobi and Cape Town with total startups valuation of $7 billion and $3 billion respectively. Also, startups in Lagos raised around $820 million in early-stage funding which was the highest in the region.<\/p>\n

The report also revealed that Lagos held its place in the range of 51 and 60 in the global emerging startup ecosystem ranking. In terms of the amount raised in funding, the report states<\/p>\n

\u201cOPay\u2019s $400 million Series C in August 2021 was the region\u2019s biggest deal, while Flutterwave\u2019s $250 million Series D in February 2022 saw its valuation increase to over $3 billion.<\/p>\n

\u201d Findings from the report also show that Venture Capital (VC) funding in the region declined by 6% from 2021 to 2022.<\/p>\n

Fintech was the region\u2019s top-performing technology sector comprising 41% of total startup deals between 2018 and 2022. Nairobi was reported to be the region\u2019s biggest fintech hub. Lagos dominates Nigeria\u2019s tech sector<\/p>\n

Abuja- Nigeria\u2019s capital city also registered its name in the report as it made it to the top five emerging tech startup ecosystems together with Kampala, Dar es Salaam, Dakar and Abidjan.<\/p>\n

Although, its emergence didn\u2019t threaten Lagos position as the dominant tech ecosystem in Nigeria. According to the report, 88% of tech startups in Nigeria are in Lagos amounting to over 400 startups.<\/p>\n

The Lagos tech ecosystem is dominated by fintechs which constitute 49% of tech companies in the city. Property tech (proptech) and educational tech (edtech) are also making notable strides in the tech industry in not just Lagos but Nigeria in general.<\/p>\n

Backstory In October 2022, former President Buhari signed the startup act into law providing a regulatory framework in terms of finance, intellectual property etc for startups across the country.<\/p>\n

The act provides startups with a four-year exemption from income tax, and additional tax relief equal to 5% of taxable profits for up to five years for qualifying startups. However, beyond the startup act, initiatives such as the Lagos state KITE program contribute to the dominance of the Lagos tech hub.<\/p>\n

For More News And Analysis About Mauritius<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Mauritius. A new report by policy and advisory research firm Startup Genome has placed Lagos as the regional leader in the Sub-Saharan startup ecosystem in terms of the value of the ecosystem and the amount raised in funding. According to the report, the Lagos startup ecosystem calculated using the value of exits and […]<\/p>\n","protected":false},"author":84,"featured_media":32935,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,9],"tags":[233,245,241,366],"class_list":["post-32936","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-miscellaneous","tag-africa-press","tag-africa-press-mauritius","tag-mauritius","tag-policy"],"yoast_head":"\nReport says Flutterwave, Opay push Lagos startup up at US$8 billion - Mauritius<\/title>\n<meta name=\"description\" content=\"A new report by policy and advisory research firm Startup Genome has placed Lagos as the regional leader in the Sub-Saha ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/mauritius\/all-news\/report-says-flutterwave-opay-push-lagos-startup-up-at-us8-billion\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Report says Flutterwave, Opay push Lagos startup up at US$8 billion\" \/>\n<meta property=\"og:description\" content=\"A new report by policy and advisory research firm Startup Genome has placed Lagos as the regional leader in the Sub-Saha ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/mauritius\/all-news\/report-says-flutterwave-opay-push-lagos-startup-up-at-us8-billion\" \/>\n<meta property=\"og:site_name\" content=\"Mauritius\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2023-08-01T10:16:11+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-08-01T10:43:07+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/mauritius\/sites\/61\/2023\/08\/sm_1690873906.131189.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1773\" \/>\n\t<meta property=\"og:image:height\" content=\"1013\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/mauritius\/all-news\/report-says-flutterwave-opay-push-lagos-startup-up-at-us8-billion#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/mauritius\/all-news\/report-says-flutterwave-opay-push-lagos-startup-up-at-us8-billion\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/mauritius\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Report says Flutterwave, Opay push Lagos startup up at US$8 billion\",\"datePublished\":\"2023-08-01T10:16:11+00:00\",\"dateModified\":\"2023-08-01T10:43:07+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/mauritius\/all-news\/report-says-flutterwave-opay-push-lagos-startup-up-at-us8-billion\"},\"wordCount\":414,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/mauritius\/all-news\/report-says-flutterwave-opay-push-lagos-startup-up-at-us8-billion#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/mauritius\/sites\/61\/2023\/08\/sm_1690873906.131189.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Mauritius\",\"Mauritius\",\"policy\"],\"articleSection\":[\"all news\",\"miscellaneous\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/mauritius\/all-news\/report-says-flutterwave-opay-push-lagos-startup-up-at-us8-billion#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/mauritius\/all-news\/report-says-flutterwave-opay-push-lagos-startup-up-at-us8-billion\",\"url\":\"https:\/\/www.africa-press.net\/mauritius\/all-news\/report-says-flutterwave-opay-push-lagos-startup-up-at-us8-billion\",\"name\":\"Report says Flutterwave, Opay push Lagos startup up at US$8 billion - Mauritius\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/mauritius\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/mauritius\/all-news\/report-says-flutterwave-opay-push-lagos-startup-up-at-us8-billion#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/mauritius\/all-news\/report-says-flutterwave-opay-push-lagos-startup-up-at-us8-billion#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/mauritius\/sites\/61\/2023\/08\/sm_1690873906.131189.jpg\",\"datePublished\":\"2023-08-01T10:16:11+00:00\",\"dateModified\":\"2023-08-01T10:43:07+00:00\",\"author\":{\"@id\":\"https:\/\/www.africa-press.net\/mauritius\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"description\":\"A new report by policy and advisory research firm Startup Genome has placed Lagos as the regional leader in the Sub-Saha ...\",\"breadcrumb\":{\"@id\":\"https:\/\/www.africa-press.net\/mauritius\/all-news\/report-says-flutterwave-opay-push-lagos-startup-up-at-us8-billion#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.africa-press.net\/mauritius\/all-news\/report-says-flutterwave-opay-push-lagos-startup-up-at-us8-billion\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.africa-press.net\/mauritius\/all-news\/report-says-flutterwave-opay-push-lagos-startup-up-at-us8-billion#primaryimage\",\"url\":\"https:\/\/static.africa-press.net\/mauritius\/sites\/61\/2023\/08\/sm_1690873906.131189.jpg\",\"contentUrl\":\"https:\/\/static.africa-press.net\/mauritius\/sites\/61\/2023\/08\/sm_1690873906.131189.jpg\",\"width\":1773,\"height\":1013,\"caption\":\"Report says Flutterwave, Opay push Lagos startup up at US$8 billion\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.africa-press.net\/mauritius\/all-news\/report-says-flutterwave-opay-push-lagos-startup-up-at-us8-billion#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.africa-press.net\/mauritius\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Report says Flutterwave, Opay push Lagos startup up at US$8 billion\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.africa-press.net\/mauritius\/#website\",\"url\":\"https:\/\/www.africa-press.net\/mauritius\/\",\"name\":\"Mauritius\",\"description\":\"Just another Africa News Agency Sites site\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.africa-press.net\/mauritius\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.africa-press.net\/mauritius\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\",\"name\":\"cfeditoren\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.africa-press.net\/mauritius\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/7417380fa9e23b5c57fdbfdaf3fdf92ee478f759a084addda5faa3732853e74a?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/7417380fa9e23b5c57fdbfdaf3fdf92ee478f759a084addda5faa3732853e74a?s=96&d=mm&r=g\",\"caption\":\"cfeditoren\"}}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Report says Flutterwave, Opay push Lagos startup up at US$8 billion - Mauritius","description":"A new report by policy and advisory research firm Startup Genome has placed Lagos as the regional leader in the Sub-Saha ...","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.africa-press.net\/mauritius\/all-news\/report-says-flutterwave-opay-push-lagos-startup-up-at-us8-billion","og_locale":"en_US","og_type":"article","og_title":"Report says Flutterwave, Opay push Lagos startup up at US$8 billion","og_description":"A new report by policy and advisory research firm Startup Genome has placed Lagos as the regional leader in the Sub-Saha ...","og_url":"https:\/\/www.africa-press.net\/mauritius\/all-news\/report-says-flutterwave-opay-push-lagos-startup-up-at-us8-billion","og_site_name":"Mauritius","article_publisher":"https:\/\/www.facebook.com\/AfricaPressTunisiaa","article_published_time":"2023-08-01T10:16:11+00:00","article_modified_time":"2023-08-01T10:43:07+00:00","og_image":[{"width":1773,"height":1013,"url":"https:\/\/static.africa-press.net\/mauritius\/sites\/61\/2023\/08\/sm_1690873906.131189.jpg","type":"image\/jpeg"}],"author":"cfeditoren","twitter_card":"summary_large_image","twitter_misc":{"Written by":"cfeditoren","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.africa-press.net\/mauritius\/all-news\/report-says-flutterwave-opay-push-lagos-startup-up-at-us8-billion#article","isPartOf":{"@id":"https:\/\/www.africa-press.net\/mauritius\/all-news\/report-says-flutterwave-opay-push-lagos-startup-up-at-us8-billion"},"author":{"name":"cfeditoren","@id":"https:\/\/www.africa-press.net\/mauritius\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb"},"headline":"Report says Flutterwave, Opay push Lagos startup up at US$8 billion","datePublished":"2023-08-01T10:16:11+00:00","dateModified":"2023-08-01T10:43:07+00:00","mainEntityOfPage":{"@id":"https:\/\/www.africa-press.net\/mauritius\/all-news\/report-says-flutterwave-opay-push-lagos-startup-up-at-us8-billion"},"wordCount":414,"commentCount":0,"image":{"@id":"https:\/\/www.africa-press.net\/mauritius\/all-news\/report-says-flutterwave-opay-push-lagos-startup-up-at-us8-billion#primaryimage"},"thumbnailUrl":"https:\/\/static.africa-press.net\/mauritius\/sites\/61\/2023\/08\/sm_1690873906.131189.jpg","keywords":["Africa Press","Africa Press-Mauritius","Mauritius","policy"],"articleSection":["all news","miscellaneous"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/www.africa-press.net\/mauritius\/all-news\/report-says-flutterwave-opay-push-lagos-startup-up-at-us8-billion#respond"]}]},{"@type":"WebPage","@id":"https:\/\/www.africa-press.net\/mauritius\/all-news\/report-says-flutterwave-opay-push-lagos-startup-up-at-us8-billion","url":"https:\/\/www.africa-press.net\/mauritius\/all-news\/report-says-flutterwave-opay-push-lagos-startup-up-at-us8-billion","name":"Report says Flutterwave, Opay push Lagos startup up at US$8 billion - Mauritius","isPartOf":{"@id":"https:\/\/www.africa-press.net\/mauritius\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.africa-press.net\/mauritius\/all-news\/report-says-flutterwave-opay-push-lagos-startup-up-at-us8-billion#primaryimage"},"image":{"@id":"https:\/\/www.africa-press.net\/mauritius\/all-news\/report-says-flutterwave-opay-push-lagos-startup-up-at-us8-billion#primaryimage"},"thumbnailUrl":"https:\/\/static.africa-press.net\/mauritius\/sites\/61\/2023\/08\/sm_1690873906.131189.jpg","datePublished":"2023-08-01T10:16:11+00:00","dateModified":"2023-08-01T10:43:07+00:00","author":{"@id":"https:\/\/www.africa-press.net\/mauritius\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb"},"description":"A new report by policy and advisory research firm Startup Genome has placed Lagos as the regional leader in the Sub-Saha ...","breadcrumb":{"@id":"https:\/\/www.africa-press.net\/mauritius\/all-news\/report-says-flutterwave-opay-push-lagos-startup-up-at-us8-billion#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.africa-press.net\/mauritius\/all-news\/report-says-flutterwave-opay-push-lagos-startup-up-at-us8-billion"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.africa-press.net\/mauritius\/all-news\/report-says-flutterwave-opay-push-lagos-startup-up-at-us8-billion#primaryimage","url":"https:\/\/static.africa-press.net\/mauritius\/sites\/61\/2023\/08\/sm_1690873906.131189.jpg","contentUrl":"https:\/\/static.africa-press.net\/mauritius\/sites\/61\/2023\/08\/sm_1690873906.131189.jpg","width":1773,"height":1013,"caption":"Report says Flutterwave, Opay push Lagos startup up at US$8 billion"},{"@type":"BreadcrumbList","@id":"https:\/\/www.africa-press.net\/mauritius\/all-news\/report-says-flutterwave-opay-push-lagos-startup-up-at-us8-billion#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.africa-press.net\/mauritius\/"},{"@type":"ListItem","position":2,"name":"Report says Flutterwave, Opay push Lagos startup up at US$8 billion"}]},{"@type":"WebSite","@id":"https:\/\/www.africa-press.net\/mauritius\/#website","url":"https:\/\/www.africa-press.net\/mauritius\/","name":"Mauritius","description":"Just another Africa News Agency Sites site","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.africa-press.net\/mauritius\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.africa-press.net\/mauritius\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb","name":"cfeditoren","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.africa-press.net\/mauritius\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/7417380fa9e23b5c57fdbfdaf3fdf92ee478f759a084addda5faa3732853e74a?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/7417380fa9e23b5c57fdbfdaf3fdf92ee478f759a084addda5faa3732853e74a?s=96&d=mm&r=g","caption":"cfeditoren"}}]}},"_links":{"self":[{"href":"https:\/\/www.africa-press.net\/mauritius\/wp-json\/wp\/v2\/posts\/32936","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.africa-press.net\/mauritius\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.africa-press.net\/mauritius\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.africa-press.net\/mauritius\/wp-json\/wp\/v2\/users\/84"}],"replies":[{"embeddable":true,"href":"https:\/\/www.africa-press.net\/mauritius\/wp-json\/wp\/v2\/comments?post=32936"}],"version-history":[{"count":0,"href":"https:\/\/www.africa-press.net\/mauritius\/wp-json\/wp\/v2\/posts\/32936\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.africa-press.net\/mauritius\/wp-json\/wp\/v2\/media\/32935"}],"wp:attachment":[{"href":"https:\/\/www.africa-press.net\/mauritius\/wp-json\/wp\/v2\/media?parent=32936"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.africa-press.net\/mauritius\/wp-json\/wp\/v2\/categories?post=32936"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.africa-press.net\/mauritius\/wp-json\/wp\/v2\/tags?post=32936"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}