Africa: Nigeria leads in Web 2, Web 3 start-ups—Ozinegbe


By Folawe Oke


Nigeria has emerged as the leading country in Africa with the most vibrant Web 2 and Web 3 tech start-ups, despite facing several challenges.

Digital Transformation Expert Mr Jude Ozinegbe said this in a statement made available to media on Wednesday, stressing the need to embrace Blockchain Technology and Digital Security.

According to him, wrong labelling, lack of structured education, unclear government regulations, inadequate infrastructure, funding issues, and the proliferation of ponzi products, amongst others are challenges affecting start-ups in Nigeria.

However, with the recent approval of the National Blockchain Policy, comes a shining light at the end of the tunnel.

“Similar to the Nigerian Start-up Act, this approval comes with immense direct benefits for the tech ecosystem and the Nigerian economy by extension.

One of the key action points of this policy approval, is the call for Blockchain education, as this will serve as the first responder that will eventually give birth to the multiple innovations expected to be seen in the coming years,” he said.

Ozinegbe added that In response to the National Blockchain Policy, a brand-agnostic tech advocacy organization- Cyberchain led by him has organized a range of industry-focused events, including conferences, webinars, training sessions, and consultancy services, aimed at addressing the challenges faced by entrepreneurs in the tech industry.

“Over the past five years, Cyberchain has educated over 20,000 Nigerians on Web 3, the digital economy, and digital security.

In 2022, Cyberchain created awareness for Adaverse, a venture fund aggregator that provides funding, mentorship, and tech infrastructure to scale Web3 solutions in Africa. It has also expanded its national footprint to five cities, including Akure, Uyo, Benin, Abuja, and Lagos, with plans to continue driving adoption to four additional cities this year, including Port Harcourt and Kano.”

Cyberchain’s 2023 event calendar includes a series of industry-specific events, such as the Web 3 and Digital Economy Conference on 20th May in (Port Harcourt at the ATRIUM, 28 Stadium Road, Rumuomasi Port Harcourt, Rivers State.

The conference will also hold in July (Kano), September (Abuja), and November (Lagos), as well as a Tech Carnival in December (Lagos).

“These human capacity development programs have been made possible by various organizations that have supported Cyberchain over the years, including Zinochrome, the Nigerian Communications Commission (NCC), Jelurida Africa, Digital Encode, Binance, Bitmama, Tradefada, ESET, RedSwan CRE, Pillow, BEI, Sabi Group, BoundlessPay, Gamic, Dexfiat, Picnic, and many others.

With the digital economy rapidly growing, the proper education and problem-solving skills provided by Cyberchain and its partners will help Nigeria become a global exporter of tech solutions in the future.

The Nigerian tech industry is expected to make more great strides in the years to come and Cyberchain is delighted to collaborate with well-meaning individuals and stakeholders within Nigeria and the diaspora to expand the frontiers of Blockchain in Nigeria and Africa,” Ozinegbe said.


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