Nigeria’s Fintech Sector: 35% of Total Tech Investment in 2024
- $2 billion raised by fintech startups in 2024.
- Nigeria became Africa’s top venture capital destination, attracting $520 million in equity funding, an 11% increase from 2023.
- Fintech was the only African tech sector to grow in both deal count (+16%) and total funding (+59%) despite a broader funding decline across the continent.
While Nigeria's fintech sector shows remarkable growth and resilience, it is crucial for investors to consider diversifying into other sectors like healthtech and e-commerce to mitigate risks associated with market saturation and regulatory challenges. The potential for fintech to drive growth in these adjacent sectors should not be overlooked, as they can provide stability during periods of volatility.
