Our founder, Bayo Adelaja, has shared a letter of positivity for everyone in our community. Bayo reminds entrepreneurs of the effect of our insecurities on our endeavours: "It’s a crude expression of Occam’s Law in that our insecurities manufacture insurmountable ordeals that deter us from doing what is tried, tested and obvious. Insecurities left unmanaged will find you in your business, and they will limit your ability to move, grow and envision a future beyond the barriers of the comfort zone you have built around you. Rona has forced me to reckon with an insecurity that I have lived with for years; a debilitating fear of change." Read the full post.
In recent years, tech startups in Nigeria have secured a global lens on the capital raising nearly $650 million in 2019 alone. Now the world needs these innovators to apply their skills to problem-solving in a crisis. Quartz Africa reports on those making a difference: "Lifebank, a health startup that finds and delivers blood to patients has turned its attention to seeking critical medical equipment for Covid-19 treatment and has created a national register to track hospitals with working ventilators and respirators. Hotel booking platform Hotels.ng has partnered with hotels to create isolation centres across Nigeria, an added buffer for the country’s limited quarantine facilities."
FinTech has seen massive growth in Africa over the last decade so it's no surprise that across the continent, fintech startups and governments are responding to the crisis, working with banks and retailers to make digital payments accessible to all in order to prevent the spread of the virus on currency.
While healthtech, fintech, edtech and logistics / delivery tech startups are innovating responses to the crisis, there is likely to be a shortfall in funding for 2020, and some sectors seeing little investment. Disrupt Africa warn that while African tech smashed funding records in 2019, with 311 startups securing over US$490 million worth of investment, the negative impact of COVID-19 on the global venture capital market may mean it remains a record year for a little while yet.
Coping with COVID19:
What can I do?