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German President Frank-Walter Steinmeier yesterday explored Nigeria’s thriving start-up ecosystem at the conclusion of his two-day visit to the West African nation.
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In Lagos, Nigeria’s commercial capital, five innovative start-ups showcased their projects to Steinmeier. The presentations included a health platform centred on an electronic insurance card and a financing platform designed to provide entrepreneurs with capital.
Africa’s most populous nation, where nearly half the population is under 18, has emerged as a hub for the continent’s start-up ecosystem.
The Nigeria Startup Act, which came into effect in October 2022, has been pivotal in fostering the growth of tech and IT enterprises.
During a meeting with Nigerian entrepreneurs, Steinmeier emphasised the need for stronger bilateral ties.
“Germany remains a leader in modern technology, while Nigeria is rich in resources and driven by a dynamic young generation,” he said.
“We are ideal partners. Let’s unlock our potential together.”
Before departing for South Africa, Steinmeier, a former German foreign minister, met Nigerian writer and Nobel laureate Wole Soyinka.
The German president’s four-day tour of Africa includes stops in South Africa and Lesotho.
It is worth noting that Germany’s presidency is primarily a ceremonial position.
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