The Allure of the Obvious
The core story in Nigeria is almost ridiculously compelling. You have a country with a median age of just 18. Think about that for a moment. Half the population hasn’t even reached their twenties. This isn’t just a statistic, it’s a demographic tidal wave of digitally native consumers and creators, all coming online at a blistering pace. They are building businesses, freelancing for clients in London and New York, and shopping for everything from fashion to electronics on their phones.
The temptation, of course, is to try and pick the winning local startup from the thousands of contenders. It’s a romantic notion, but it’s also a bit of a lottery. For every success story, there are countless failures you never hear about. To me, that feels less like investing and more like a trip to the bookies. The real, and dare I say, more sensible opportunity lies not with the prospectors, but with the companies selling them the picks and shovels.