• About
  • Advertise
  • Careers
  • Contact Us
Sunday, June 22, 2025
  • Login
No Result
View All Result
NEWSLETTER
Tech | Business | Economy
  • News
  • Tech
    • DisruptiveTECH
    • ConsumerTech
    • How To
    • TechTAINMENT
  • Business
    • Telecoms
    • Mobility
    • Environment
    • Travel
    • StartUPs
      • Chidiverse
    • TE Insights
    • Security
  • Partners
  • Economy
    • Finance
    • Fintech
    • Digital Assets
    • Personal Finance
    • Insurance
  • Features
    • IndustryINFLUENCERS
    • Guest Writer
    • EventDIARY
    • Editorial
    • Appointment
  • TECHECONOMY TV
  • Apply
  • TBS
  • BusinesSENSE For SMEs
  • Chidiverse
  • News
  • Tech
    • DisruptiveTECH
    • ConsumerTech
    • How To
    • TechTAINMENT
  • Business
    • Telecoms
    • Mobility
    • Environment
    • Travel
    • StartUPs
      • Chidiverse
    • TE Insights
    • Security
  • Partners
  • Economy
    • Finance
    • Fintech
    • Digital Assets
    • Personal Finance
    • Insurance
  • Features
    • IndustryINFLUENCERS
    • Guest Writer
    • EventDIARY
    • Editorial
    • Appointment
  • TECHECONOMY TV
  • Apply
  • TBS
  • BusinesSENSE For SMEs
  • Chidiverse
No Result
View All Result
Tech | Business | Economy
No Result
View All Result
ADVERTISEMENT
Home Business StartUPs

AfCFTA: Nigeria Moves to Make African Expansion Easier for Local Tech Companies

by Joan Aimuengheuwa
April 14, 2025
in StartUPs
1
Nigeria Tech Expansion
Dr. Jumoke Oduwole, minister of Industry, Trade and Investment

Dr. Jumoke Oduwole, minister of Industry, Trade and Investment

UBA
Advertisements

The Federal Government has launched a new initiative to support digital service providers looking to expand into other African countries. 

Led by the Ministry of Industry, Trade and Investment, the initiative starts with a request to fill out a survey. The Ministry wants to know which countries Nigerian digital businesses are interested in, what kind of services they offer, and what roadblocks they face. 

With that information, the government plans to steer its trade discussions under the African Continental Free Trade Area (AfCFTA) toward those countries—ideally opening up space for Nigerian companies to grow across the continent.

Minister of Industry, Trade and Investment, Dr. Jumoke Oduwole, explained the reason behind the move. “This is because, unlike physical goods and traditional services, digital services don’t fit neatly into existing trade categories,” she said. 

“Nigeria is, therefore, championing digital trade services and is pioneering a simple, clear framework that both businesses and governments can understand.”

That problem—digital services not fitting into any clear box—has long discouraged Nigerian companies trying to operate beyond the country’s borders. It’s not yet clear what regulations apply, who issues licences, or how long the process should take. Many are left waiting for answers that don’t come.

Dr. Oduwole added, “It’s like creating a common language that helps everyone to get on the same page about what these services are and how they should be treated. The transformative benefits for Nigeria include unlocking new markets.”

The Ministry also plans to create a database of digital service providers—something Nigeria has never done before. This registry will map their expansion goals and give a clearer picture of the challenges they face. According to the Minister, the outcome could help Nigeria move from reacting to trade policy, to shaping it.

Some Nigerian companies have already made progress. Flutterwave now operates in countries such as Ghana, Kenya, Uganda, South Africa, and Tanzania. Paystack has also expanded to Ghana, South Africa, and Kenya. Interswitch maintains a presence in several African cities. But they are the exceptions. For many others, licensing procedures and unclear frameworks have slowed them down.

At the same time, Nigeria has been working to improve its digital economy at home and ensure tech expansion. There’s already a national policy focused on expanding broadband access, e-commerce systems, and digital financial services. 

These steps aim to improve Nigeria’s standing in Africa’s growing digital economy—one that’s expected to contribute $180 billion to the continent’s GDP by 2025, and over $700 billion by 2050.

Still, the challenges are obvious. Over 70% of people in rural parts of Africa don’t have access to the internet. Infrastructure is weak in too many areas. If Nigerian businesses are to scale across the continent, that gap has to close. Projects like this one, if properly followed through, might help.

There’s also a wider conversation happening. Nigeria, along with countries like Kenya and Rwanda, is trying to shape how digital trade works in Africa. 

The African Digital Economy & Inclusivity Conference (AFDEIC 2025), scheduled to take place soon, will focus on key themes like financial access, responsible data sharing, and how to manage the growth of digital systems across the continent.

Meanwhile, Nigeria’s recent decision to categorise cryptocurrency as securities under the new Investment and Securities Act (ISA) 2025 shows a bigger dynamic. It points to a more structured approach to digital services and may play a role in supporting cross-border trade in the near future.

For now, the government is calling on all local digital service providers to participate in the official survey. The responses will guide future negotiations and could remove some of the obstacles these companies currently face, ultimately ensuring local tech expansion beyond Nigeria.

The survey is available here.

Loading

Advertisements
MTN ADS

0Shares
Tags: AfCFTA NigeriaAfrica tech regulationsAfrican digital economyAfrican digital tradeAfrican Tech StartupsCross-border trade AfricaCrypto regulation NigeriaDigital economy NigeriaDigital services in AfricaDigital trade initiativeFlutterwave expansionInterswitch growthISA 2025 NigeriaJumoke OduwoleNigeria tech expansionNigerian government tech initiativeNigerian startupsNigerian tech companiesPaystack in AfricaTech framework NigeriaTech policy Nigeria
Joan Aimuengheuwa

Joan Aimuengheuwa

Joan thrives at helping individuals and businesses scale via storytelling...

Next Post
Egbin Power at Energy Times Award

Egbin Power Bags Sustainable Development Company Award 

Comments 1

  1. Pingback: Afreximbank Rolls Out $3 Billion Intra-African Oil Import Financing Programme | Tech | Business | Economy

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

I agree to the Terms & Conditions and Privacy Policy.

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Recommended

PoS Operators, Contactless Payments, ePayments, Transactions, NIBSS, QR Codes

PoS Operators Have Till July 7 to Register with CAC – CBN

1 year ago
10 Offa Youths Graduate from Momas Metering School’s PCB Design & Fabrication Programme

10 Offa Youths Graduate from Momas Metering School’s PCB Design & Fabrication Programme

2 years ago

Popular News

    Connect with us

    • About
    • Advertise
    • Careers
    • Contact Us

    © 2025 TECHECONOMY.

    No Result
    View All Result
    • News
    • Tech
      • DisruptiveTECH
      • ConsumerTech
      • How To
      • TechTAINMENT
    • Business
      • Telecoms
      • Mobility
      • Environment
      • Travel
      • StartUPs
        • Chidiverse
      • TE Insights
      • Security
    • Partners
    • Economy
      • Finance
      • Fintech
      • Digital Assets
      • Personal Finance
      • Insurance
    • Features
      • IndustryINFLUENCERS
      • Guest Writer
      • EventDIARY
      • Editorial
      • Appointment
    • TECHECONOMY TV
    • Apply
    • TBS
    • BusinesSENSE For SMEs

    © 2025 TECHECONOMY.

    Welcome Back!

    Login to your account below

    Forgotten Password?

    Retrieve your password

    Please enter your username or email address to reset your password.

    Log In
    Translate »
    This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.