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Earlier this year, Accion Venture Lab, Newid Capital and a group of angel investors backed a $1.25 million seed round for Lidya, a Nigerian startup that helps small businesses in the West African nation build credit and access finance.
The deal highlights a relative boom in the country, as domestic and international investors focus on local entrepreneurs solving unmet consumer needs in energy, financial services and agriculture.
The fast-growing West African startup landscape now includes a web of investors, accelerators, networks and events targeting entrepreneurs solving local and regional problems.
Read the full article about West Africa's growing culture of startups at ImpactAlpha.