Consul General of France in Lagos, Laurent Favier, said from January to September 2025, French startups raised €6 billion in strategic industries such as Artificial Intelligence, Health tech and green innovation. He said the French startup ecosystem has grown from three unicorns in 2017, with the number expected to reach 26 this year.
Favier stated this yesterday in Lagos at the startup summit and pitch tournament organised by the Franco-Nigeria Chamber of Commerce and Industry (FNCCI) as part of efforts to mark the 2025 French Week.
According to him, Nigeria is currently one of Africa’s leading tech powerhouses as a member of the big four (together with Kenya, Egypt and South Africa).
“I must stress as well that I am very impressed by the entrepreneurial spirit in Nigeria, and especially among the youth. In the tech sector, as always, it is true, but it is true in France as well. It is one of the reasons France and Nigeria are united to deepen and strengthen this particular relationship between our two countries, and tech is one of the examples.” He mentioned that over $400 million was raised by Nigerian startups last year – a feat that was not a coincidence.
Last week, he said, the 2025 French Tech 2030 cohort was announced, highlighting 80 French companies developing high-impact strategic technologies in artificial intelligence, cybersecurity, quantum computing, robotics, space technology and advanced industrial systems.
He noted that the companies illustrate a vibrant and determined ecosystem, focused on global competitiveness and long-term innovation as well as sustainable development.
“So, to me, it becomes obvious. We have two major powerhouses, one in Africa, one in Europe, and it makes sense to build bridges.”
Director, Technology and Digital Consulting, Forvis Mazars, Fiyinfolu Okedare, said Africa is not catching up to the world; the world is catching up to Africa.
Okedare mentioned that five years ago, African startups were local dreams. Today, these startups process over $100 billion in transactions yearly, operate across 30+ countries, and are valued in the billions.
He said what do mobile money in Kenya, fintech in Nigeria, and agritech in Ghana have in common? They have turned local solutions into global platforms, leapfrogging traditional systems entirely.
He mentioned that the African Continental Free Trade Area (AfCFTA), combined with advances in digital infrastructure, is fostering unprecedented opportunities for cross-border commerce and positioning Africa as a competitive player in global supply chains.
He said African innovation is not just participating in global value chains; it is actively reshaping them.
Chief Executive Officer, BusinessFront, Muyiwa Matuluko, said Africa has shown that it can lead in terms of technology with innovation.
He advised that both storytelling and perception are important startups emerging, stating that a lot of work needs to be done from both angles.
Besides, five startups pitched their product, namely, Betapawa, Runteller, Brydge, Scrub and Optimus AI Labs and Bryde startup emerged as winners with products on cross-border payment leveraging technology across different payment channels in Africa.
