A detailed look at Nigeria’s regional structures reveals development levels since the colonial days, a cursory study shows the fast rate at which the country is experiencing growth in human and capital resources. It has been described as the Giant of Africa and one of the fastest growing economies of the world at some point.
The Northern part of the country is of peculiar interest. The region is prevalent on strong ties and adherence to authoritative directions, Islamic faith and a rich culture mix of exquisite textile material, grandiose culinary tastes and gratifying music components.
However, to further bring development to the sub-saharan, the technology creatives are shifting focus to include Northern start-ups funding and support. Investors are now seeing the region as a worthy environment as compared to the southern parts of the country. In a field where over 80% of venture capital funding goes to states like Lagos, Ogun, Abuja and Oyo, Kaduna is now drawing interests.
Leading this charge are two Nothern techies, Surayyah Ahmad and Sanusi Ismaila the founders of Aduna Capital. These two are investing funds in start-ups in the North and female-owned firms based in Africa. Recently, the firm announced a $20 million seed funding intended for bringing more highlights to the North.
Both founders are no strangers to the tech world. Being individual creators of tech firms before the capital venture, they are combining forces to illuminate the growing tech space in the geopolitical region. It intends to bring transformation of the Northern Nigeria region, home to more than 100 million Nigerians. It also hopes to shift the focus from Lagos, which is home to more than 80% of startups in Nigeria alone as well as all-male founding teams continue to receive more than 80% of startup investment that flows to the country.
This VC is hoping to be the bridge between investors and founders in the region. For female start-ups have been deprived of chances of raising funding, Aduna Capital is taking the bulls by the horns to change this narrative. The founders are placing the Northern hub as viable and exponential to investors and other funders.
