Investing in Nigeria: What you should know!

Covid-19 is a game-changer. The events of this past year make the brightest minds question their judgement. We have moved from traditional work plans to a work from home arrangement and let me tell you, it took me some time to get used to. However, amid the trouble, global brands like Microsoft, Stripe, Facebook and many more are still investing hefty sums into Nigerian startup Eco-spaces.

You might be asking yourself the question, just what do John and Patrick Collison of stripe and Mark Zuckerberg of Facebook see in Nigeria that you are not seeing?

Is investing in Nigeria, despite all its challenges at the moment, a wise decision?

How do I get-in without getting my hands burned?

Here are three of the most important steps you must be willing to take if you are thinking about investing in Nigeria or Africa as a whole.

1. Keep an Open mind: This is perhaps the most important step which is why I will state it as the first step. No matter what you have read about the country you will run into a loss if you base your decision on fears. It’s similar to thinking all Americans shoot for no reasons because you have seen a couple of Hollywood’s action movies.
2. Get a Partner: Getting a “credible” partner with a track record of helping clients gain market entry will take you further than most. A partner will help you reduce your stress and overhead cost in the long run by cutting through the most challenging issues in the interim while also taking time to help you navigate the murky waters of taxation and so on. CLICK HERE to open a discussion with Finesse Consults
3. Take action: It’s the end of a year, the beginning of a new year, or the middle of the year. The time only counts for action takers. Like Guy Kawasaki puts it in his book “The art of the start”- You could spend all your days learning and not doing; Doing, not just learning to do is the only thing that guarantees success.

Whatever effect Covid-19 has had on your business, expanding your frontiers into the new market may be the solution for generating more revenue. Take a look at the demand curve for your product in your current market. Is it still growing? Has it reached its plateau? Or is it on a decline? Whatever the stage of your growth, there is no better time to break into the African market than now. It’s time to fly.