Nigeria FinTech Landscape - Impact Assessment
Nigeria FinTech Landscape
3 broad elements will determine likely winners but importance will differ by
archetype
Key elements
Playing in the right sector
Right strategic
bet
Characteristics of successful players
Playing in large, relatively untapped market
with significant potential to grow
Scalable business model
B2C business model with a low cost and
scalable distribution model
Clear customer needs
Clear value
proposition
Product market fit
Strong founding team
Execution
Deep funding pool
Identified a clear set of unmet customer needs
where customers have demonstrated
willingness to adopt
■ Great user experience (i.e. built and
customized for local context e.g. local
language, social commerce) with resulting
high degree of user adoption
Founding team with strong track record of
execution and with the right mix of skills
tailored for the sector of focus
■ Access to significant funding pools from
foreign or local investors to fund rapid scale
and customer acquisition
SOURCE: Expert interviews, Team analysis
Low
Medium
High
Very high
Ecosystem
orchestrators
Degree of importance
Niche players
B2B enabler
EFINA
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