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Why Nigeria should Lower the Entry Barrier for the Private Equity Market

Mar 30, 2021   •   by   •   Source: Proshare   •   eye-icon 2464 views

Tuesday, March 30, 2021 / 6:26PM/Ottoabasi Abasiekong for WebTV / Header Image Credit: The Spark

 

Loweringthe barrier to entry of the private equity market in Nigeria would lead to moreinvestments into the economy and the closing of more deals in the country. Mr.Joseph Agunbiade the Founder of Univelcity stressed this in a conversation onthe "Q1,2021 Review of Private Equity Market Activities In Nigeria".

 

Hebelieved the Nigerian capital market could support the growth of the privateequity (P.E.) market with the right rules and laws in place. Agunbiade theC0-founder of BudgIT,  said Q1 2021 analysis showed that the year waspromising for the P.E. market.

 

Hehighlighted the notable growth in the Nigerian fintech industry, with theimpact of  Flutterwave now valued at $1bn, and its recently sealedpartnership with Paypal, taking it to a global level of operations. This,according to him, showed the strides alongside made by Nigerian tech companiesas also demonstrated by Stripe's acquisition of another Nigerian fintechcompany "Paystack" for $200m.

 

Hebelieved investor confidence has been restored in the P.E market,  with animpressive return on investments, ROI. Speaking further he cited ULesson anEDTech company and health-based companies like 54Gene, Evercare, and FlyingDoctors as examples of interesting developments in the Fintech market that wereperforming well and attracting significant investments.

 

Agunbiadealso acknowledged the fact that women were leading entrepreneurs playing keyroles in transactions and deals in the Industry. He said it was important forPrivate Equity companies to give greater opportunities to women, especiallyensuring gender inclusion in the composition of boards.

 

Accordingto him, there has been noticeable support for female entrepreneurs byinvestors, with achievements recorded by Fintechs like Bankly and Piggyvest. Looking at the remaining quarters of the year, Agunbiadecalled on the top 1% of wealthy Nigerians to form investment groups that couldsupport SMEs in the country.

 

Healso stressed the importance of stability and clarity in the foreign exchangemarket as an important catalyst to investments in the country.


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 Proshare Nigeria Pvt. Ltd.

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