Latest news with #AfricaTechnologyExpo
Business Insider
30-06-2025
- Business
- Business Insider
Exclusive: Nigeria has opportunities but one thing scares investors
In a controversial move that sparked public outcry and raised questions about governance and development, the government of Lagos State (Nigeria's commercial hub) demolished the popular Landmark Beach, a once-thriving waterfront leisure hub. The Lagos State government has demolished Landmark Beach as part of a coastal highway project aiming to link Lagos with Calabar. Paul Onwuanibe, the owner of the beach, remains optimistic about Nigeria's investment prospects, highlighting its challenges as opportunities. Onwuanibe emphasized the importance of demographic factors for investments and identified key emerging markets in Africa. The demolition, which occurred in January 2025, was part of the government's larger coastal road project, which aims to build a 700-kilometer coastal route connecting Lagos and the Nigerian southern state of Calabar. Landmark Beach, owned by renowned businessman Paul Onwuanibe, was more than simply a beach; it was a tourism, pleasure, entertainment, and small business hub. Every year, thousands of people visit the beach, which serves as a prominent location for local and international activities. The beach, which is estimated to be a $30 million investment and employed over 1000 people directly and indirectly, stood as a rare example of well-organized private-sector investment in public spaces, with restaurants, bars, sports facilities, and family-friendly zones. The state government's reasoning for the demolition is based on the strategic importance of the coastal highway project, which is projected to improve communication and boost economic development along Nigeria's southern coastline. However, some argue that the demolition of the resort, as well as numerous other properties in the same area, was done without consideration for due process, investment security, or the impact on jobs and tourism. Despite this, Paul Onwuanibe still expresses optimism for doing business in Nigeria. During an exclusive interview with Business Insider Africa at the Africa Technology Expo, Paul Onwuanibe had a few things to say about the business clime in West Africa's largest economy. What Paul Onwuanibe had to say When asked about Nigeria's greatest selling point as an investment destination, the Nigerian business mogul noted that the country's challenges present its greatest opportunities. 'It's underdeveloped, it's full of challenges, it's full of deficiencies, but that in itself is an opportunity. He did, however, point out that persuading investors of how to withdraw their money has proven to be a challenging task. 'It's not that hard to convince people that there is an opportunity and to bring their money here (Nigeria), what is hard is to explain to them how to get their money out, that is the difficulty of investing in the country' When asked about other hotspot investment destinations in Africa, Paul Onwuanibe noted that he prefers to go where there are a lot of people. 'I am a traditionalist, so being a traditionalist, I believe in people, I believe in numbers, so I look at it and ask, what are the markets in Africa that have a lot of people, and is there a demographic boom, so I go to place like the DRC and I think I'm going to do well.' Paul Onwuanibe also shared the most prevalent pro and con of investing in some of his preferred African markets. 'You know every bad place becomes good at some point, and if you wait for it to become good, the opportunity is gone, so I think the big markets here are Egypt, Nigeria, DRC… I'm not a big believer in South Africa, Kenya is okay,' 'Con is literally just poor capital, there is not enough capital here, pro is the opportunity, there's that opportunity to leapfrog all the challenges.'
Business Insider
25-06-2025
- Business
- Business Insider
Africa technology expo 2025 welcomes 4,000+ tech leaders for business-focused innovation in Lagos
The third edition of the Africa Technology Expo (ATE) concluded in Lagos with over 4,000 attendees from more than 15 countries, firmly establishing the event as one of the continent's most influential gatherings for tech and enterprise leaders. Held at the Landmark Event Center, ATE 2025 brought together a powerful mix of inventors, C-suite executives, decision-makers, and ecosystem players to drive conversations and connections around Africa's fast-growing technology sector. The program featured a rich blend of keynote addresses, investor sessions, tech showcases, and high-level panels focused on innovation, growth, and enterprise transformation. Topics ranged from the future of software development and resilient infrastructure to investment readiness and ecosystem expansion. Over 85% of attendees were senior decision-makers in their organizations, underlining ATE's positioning as a platform designed for doing business, not just exchanging ideas. As part of its enterprise programming, ATE 2025 hosted the MTN C-Suite Chat, an exclusive session for senior executives focused on cloud adoption, IoT, 5G, SME growth, and strategic partnerships. MTN Nigeria leaders, including Omowunmi Olatunbosun, Akinbulejo Onabolu, Ifeanyi Otudoh, Njideka Jack, Viola Opara, and Chenosis' Joshua Chijioke led the conversation, reinforcing MTN's role in driving enterprise innovation and digital transformation. In his remarks, Convener Nnaemeka Clinton welcomed guests from across the globe highlighting the global relevance of the event and the rising momentum of African innovation. 'Africa's technology narrative is no longer local or emerging. It is alive, it is global, and it is undeniably rising. This isn't just a tech conference. It's a deal room. And real business is being done here.' This year's edition featured a powerful lineup of speakers, including Iyinoluwa Aboyeji, Co-Founder of Andela and Managing Partner at Accelerate Africa & Future Africa; Olumide Balogun, Director, Google – West Africa; Kyari Bukar, Co-Founder, Trans Sahara Investment Corporation; Paul Onwuanibe, CEO, Landmark Africa; among others. The event was supported by leading brands committed to accelerating Africa's enterprise and innovation agenda. Breet served as the headline sponsor, with Maxitech, Fidelity Bank, Zoho, and Trivoh as Gold Sponsors. Ruby sponsors included Polkadot and MTN, while Silver Sponsors featured Jeroid, Zabira, Cogneticks Consulting, and Peerless. Associate Sponsors included Vendor Credit, Nobus, Kora, and Gtext Holdings. ATE continues to attract global interest and strategic partnerships, with conversations already underway to take future editions to new cities including Kigali, Nairobi, and Barbados, underscoring the ambition to extend Africa's technology story beyond the continent. About Africa Technology Expo The Africa Technology Expo is an annual event designed for enterprises, inventors, investors, and executives committed to building the future of African technology. With a focus on real business outcomes, ATE serves as a strategic platform to showcase innovation, spark partnerships, and catalyze growth across sectors and geographies.
