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Omobola Ogbolu
4 weeks ago
Overview
AI revolutionising startups: A leap forward for Nigeria and Africa
The impact of AI is already felt all over the world, while Africa as an emerging hub is currently working as a vibrant hub of innovation. Overall, Nigeria these days is gaining popularity among the young population who have an entrepreneurial spirit in them. That is why they are coming up with progressive solutions for pressing challenges like global food scarcity and climatic changes. This technological revolution is not merely about adopting new tools; it represents a fundamental shift in how businesses operate, solve problems, and create value. Through community platforms in Nigeria, here in this community for startups, we are going to discuss how Nigerian startups are revolutionising AI to leave a positive impact on the community as a whole.
The Rise of AI Startups in Nigeria
In recent years, Nigeria has witnessed a surge in AI startups, driven by a combination of entrepreneurial spirit, educational initiatives, and supportive government policies. The Nigerian government is actively promoting technological innovation, integrating AI across various sectors to enhance public services and economic growth. This has led to collaborations with global tech companies and academic institutions, fostering research and development in AI. Here is the list of the key players in this domain that are also ramping up the community for startup in Nigeria and inviting the youth population to take part in the significant knowledge-sharing process.
Greenbii
Greenbii places its emphasis on asset financing and software management for SMEs. It takes pride in AI-driven recommendations on necessary software and devices while facilitating funding for business tools. Even assessing businesses quickly, Greenbii assists and guides SMEs to find suitable repayment plans for the technology they need, fostering growth in this critical sector of the economy.
Jamborow
Jamborow stands out as a B2B AI and blockchain-driven platform focused on financial inclusion. It primarily targets unbanked populations across Africa by automating credit checks through a proprietary scoring algorithm. AI in Nigeria is enabling this kind of innovative startup to create a new horizon of opportunities for farmers. That is why Jamborrow is offering tailored services and providing farmers the advanced insights regarding the Jamborow AgTech initiative. It is anticipated that later on it will improve the decision-making capability of the farmers.
Nomba
Although Nomba started its journey as Kudi.AI in the year 2017, it has taken part in transforming a chatbot into a comprehensive payment solutions provider. The focus of this company is on empowering varied businesses via accepting payments, managing operations, and improving customer interactions. Utilising the community for startups, such business endeavours are not only making full use of AI but also creating job opportunities for skilled youth. Presently, Nomba provides a suite of services including point-of-sale terminals, sales management tools, and banking solutions tailored for different business sizes. In 2023, Nomba raised $30 million in pre-Series B funding to expand its offerings further, including a new POS device called Nomba MAX, which aims to integrate various business functions into one platform.
Aibanc
AI and job creation are always allied together and due to this reason, new-age startups are becoming popular among the skilled job-aspirant youths in Nigeria. Aibanc is an emerging player that capitalises on AI for digital lending solutions. On the other hand, it allows users to access credit via a mobile app, employing machine learning models to personalize the lending experience.
Conclusion
The rise of AI-based Nigerian startups represents a transformative shift towards a tech-driven future. While underlying challenges such as funding and talent shortages persist, the growth opportunities are substantial. However, with continued governmental support and investment in education and infrastructure, Nigeria is predicted to become a key player in the global AI landscape. By leveraging the community for startup in Nigeria, these businesses can amplify their impact, foster innovation, and engage in meaningful knowledge-sharing that benefits the broader society.