• From making real money, to advanced security, GameFi, DeFi and others, Web3 is becoming a game changer in technology 
• This is the first time that the creative industry will have the opportunity to reward creators, they can pass whatever they have created to several generations
• NFT is an interior part of Web3 technology and they will empower Nigerian youth more than any other opportunity that is out there because most Africans are very creative people
• Our traditional folklore can be used to create a lot, we have all kinds of traditions that can be turned into NFTs

Web3 has become a buzzword but the knowledge of it is still minimal.

Lots of people invest in crypto because it’s trending and others are investing in it. This is a similar case for Web3. 

In this regard, a chat with Chuta Chimezie, Founder of Blockchain Nigeria User Group (BNUG), stood as an eye-opener to not just the difference between Web1, Web2 and Web3, but the relevance of Web3 to youth, opportunities that lie in early stage investment, advice required before diving into crypto and new business models emerging as a result of the Web3 innovation.

Can you please explain Web3 to a newbie?

Web3 is the most recent progressive web technology that enables users to ‘own assets on the internet’ — that’s the key word that every other thing we do on Web3 encompasses.

Unlike in Web2 when we create assets and trust centralised authorities to manage them for us. For instance, when you create something on Facebook, Twitter or LinkedIn, you practically give it to the controlling platform. They take control of the data and entire asset that you have created and of course you don’t earn from it. 

In Web3, you not only have control, but you can also monetise and earn from it over and over again. 

Secondly, in Web2, we give out too much information and that leads to incidents such as leakages, hacked information, among others, that affect people later. In Web3, you only use cryptographic hash functions to sign transactions without giving much information about yourself.

Again, Web3 supports GameFi — Game Finance; you can play games and earn assets that can be converted to real money, rather than earn points like it was done in Web2.

It also includes decentralised finance — DeFi — which enables the creation of decentralised applications that run on the web without a central server.

Finally, the other aspect of Web3 is the metaverse, which is a virtual world that is gated and runs on the internet protocol. Users have an extension of themselves in the form of avatars and those are as real as the owners they represent; they can own houses, properties, artworks and many more. 

All of these are coming together to make Web3 a real game changer in technology. Each of these features have attracted lots of investments from VCs and companies that are betting big on Web3 doing extremely well in the coming years.

What is its relevance in the life of youth today and how can its adoption boost a country’s economy?

There are so many ways. Primarily, Nigerian youth are struggling to find opportunities and the opportunities existing in our world are gradually closing in, of course considering that our economy is performing badly and even those who have jobs in traditional businesses do not have any kind of safety on their jobs.

Web3 provides every Nigerian user the opportunity to build on future technology that can guarantee them to earn today and tomorrow.

We are fortunate that we have the internet. Because of the internet, we automatically have the same opportunity to know and learn about what is happening anywhere else in the world at the same time that anyone else is learning about them. 

That will help us to easily pick up the necessary skills and tools, get used to them so that we can have career opportunities, because companies that are hiring the most are technology companies, especially those building in these innovative areas.

Nigerians should build themselves properly, it doesn’t matter where they are, they can work and earn from any part of the world. When they are employed in some of these companies, they can earn a global standard enumeration.

Nigerian youth can create a whole lot of wealth using some of these technologies, especially creative people such as visual artists, performance artists, and others. This is the first time that the creative industry will have the opportunity to reward creators, they can pass whatever they have created to several generations.

In my introduction, I didn’t mention NFTs. NFT is an interior part of Web3 technology and they will empower Nigerian youth more than any other opportunity that is out there because most Africans are very creative people. We have folklore that people can gratify — our traditional folklore can be used to create things, we have all kinds of traditions that can be turned into NFTs.

There’s so much we can do, when it comes to art and creativity, Africa rules as far as the world is concerned so it’s an opportunity for us Africans to leverage.

Big Opportunity in Web3 Early Stage Investment

Finally, for those who are a little bit averse to investing in the early stage — a lot of people who have invested at this stage have made money.

When you hear about an NFT project that is launching and you buy into it with little amount of money, that project or artwork that you bought into can become something that can change your life in just a couple of weeks or months because someone else might see the value and want it from you, then you sell it at a standard price every other person is selling it. So, that early stage investment is also a big opportunity.

Would Web3 still be highly relevant in the next 5 to 10 years? Or would it be like the iPhone that when a new one comes out, the use of the previous reduces although still relevant?

Big companies like Microsoft, Facebook, Amazon, Google and others that invest in technology are not just gambling, they do comprehensive research before they make their move. 

Facebook has invested over $30 billion in this, recently, Microsoft purchased a company that makes VR Set, some companies like HTC have transcended from making phones to VR Set. This means the metaverse is not fizzling out anytime soon.

This gives Nigerians an opportunity to scale even in their environment 

Nigerians going abroad are those who think they would get a better opportunity to earn money. But also, there are lots of Nigerians in the blockchain and other sectors here, who are making as much money as those physically going there. Earning more does not justify your moving out of the country.

A lot of people involved in technology will find out that what you’re travelling out of the country to find, is right where you are. You can leave a standard life irrespective of the failed economy and infrastructure of Nigeria. Anyone with sufficient finance can create their own environment wherever they find themselves, even if they face issues, it wouldn’t be an everyday thing.

Travelling out also has its own disadvantages including high tax amounts. This is not the case here in Nigeria, where virtual workers are not so recognised hence high taxes are not placed on them because the Nigerian policies and regulations are not ready for that.

Fear of investing in crypto because of naira fall

Naira has been on the downside for over 15 years and this year alone, it has lost another 30 to 40%. It’s a reality but when it comes to crypto, you’re required to have proper understanding and proper knowledge. 

There’s a law that says: “do not invest in what you do not understand” because the chances of losing money is very high. So, the first thing that everyone needs to do in crypto is try to learn as much as possible before diving into it.

After learning, the next thing is to invest only an amount that you can afford to lose. When you have understood how the market functions, the fundamentals that drive the market, and you are able to get the market strength appropriately, then you can increase your risk.

In other words, you can increase the amount that you are investing, bearing in mind that high-risk assets have the potential to produce high reward and low risk assets have the potential of giving you low risk. So, you must have a balance and invest in some high risk and also in some low risk assets.

Never put all of your money into crypto.

What are the kind of new business models web3 will bring?

So many business models are already emerging. Most Web2 types of businesses are being rebuilt on Web3. For instance, I met a couple of young guys who are building a ticketing platform that is on Web3. It will allow users who speculate that a conference or event will be in high demand later on, to transfer their tickets to other people if the event is still ahead of time, sell at a higher amount and make a very good profit out of it.

We also have people building applications using Web3. I met some young folks who transferred Yoruba folklore into a game people can play. There is NFT marketplace and so much going on — GameFi, SocioFi, DeFi, and many more. These opportunities will continue to abound.

The post Web1, Web2 and Web3: Chuta Chimezie Explains the Difference, Opportunities appeared first on Tech | Business | Economy.

Nigeria has the highest number of tech startups in Africa with over 3,360 as of 2024. That’s more than Egypt and Kenya combined! 

But again, Africa has the highest entrepreneurial rate globally, with 22% of its working-age adults in the space, yet it also holds the crown for the greatest fear of failure among budding entrepreneurs.

Why the paradox? Perhaps it’s the daily duel with inflation, unstable exchange rates, or even the high stakes of being courageous in an unstable market. 

Nevertheless, Africa’s perceived opportunities and credibility are one to commend, creating a system where innovation thrives despite the odds.

Today, we dive into the stories of 10 entrepreneurs to watch in 2025, having gone through challenges, overcame them, and still driving through the rough roads.

These, among many others, are the leaders turning challenges into achievements, from enhancing financial technology to bolstering transport and embracing blockchain as well as cybersecurity innovations. 

These entrepreneurs reiterate the fact that Africa isn’t just watching the world evolve, it’s involved in the processes.

Fintech and Digital Commerce

1. Mitchell Elegbe

Mitchell Elegbe, the founder and group managing director of Interswitch Group, is one with a huge impact on Africa’s financial technology sector. His impact was globally recognised in 2024, when he was appointed to the jury for the Ernst & Young (EY) World Entrepreneur of the Year (WEOY) Awards, held in Monte Carlo, Monaco.

Elegbe was inducted into the 2023 WEOY Hall of Fame becoming the first African entrepreneur to win in both the emerging and master categories of the awards. 

In 2024, his role as a juror further boosted his global profile, placing him as a representative of African innovation. His contributions to digital payments and financial inclusion were further recognised when he was named one of the top fintech CEOs of 2023 by the Financial Technology Report, joining the ranks of leaders from PayPal, Visa, and Mastercard.

Under Elegbe’s leadership, Interswitch has remained at the fore of Africa’s payment efficiency. Having transformed the company into a unicorn in 2019, Interswitch has expanded its footprint across 23 African countries, providing solutions that have made cross-border payments seamless. Its platforms, such as Quickteller and Verve, have become integral to financial transactions across the continent.

Elegbe’s accolades also include receiving the Lifetime Achievement Award at the CIO Awards Africa, recognising his contributions to Nigeria’s technology sector. Through his advocacy for innovation and mentorship of young entrepreneurs, Elegbe is building a new generation of African business leaders. His focus on leveraging technology to drive economic development places him among the top entrepreneurs to watch in 2025.

2. Elsie Godwin

Elsie Godwin is the perfect blend of creativity, strategy, and innovation. As the co-founder and chief operating officer of Cashwise Finance, she recently led the launch of a daring fintech platform that bolsters global remittance. 

With features like Virtual USD Cards and Zelle integration, Cashwise aims to simplify international transactions while maintaining compliance across multiple jurisdictions. The app’s transparent pricing and user-centric ethos make it a game-changer in the fintech space.

Beyond fintech, Elsie Godwin is a seasoned marketing and communications professional and a respected media personality. With a career spanning diverse sectors, she has established herself as a master of strategic impact and innovation. 

She is the founder and lead strategist at Mind-Mastik Media, a dynamic marketing agency through which she has driven success for various brands by leveraging data-driven insights and trend-savvy strategies. Throughout her career, Elsie has been instrumental in shaping go-to-market strategies for brands in both the Web2 and Web3 spaces. 

Her notable achievements include facilitating the institutional partnership between Pan Atlantic University and Emurgo Africa, which played a pivotal role in advancing blockchain adoption across Africa. She was recognised as one of the Top 40 African Women in Blockchain for her contributions to the blockchain ecosystem.  

Her media presence includes features on Nigeria Info, NewsCentral, TV Plus TV Africa, Arise News, R2TV, Lagos Traffic Radio, and Guardian Nigeria. She has also collaborated with top agencies like BHM, Plaqad, HK Strategies, DottsMedia, Alder Consulting, and Anakle to amplify brand stories. As a Google influencer affiliate, she leverages her platform to share impactful narratives. 

Her dedication to meaningful conversations led to organising Africa’s most prominent bloggers’ conference in 2018 and UnwontedConvos in 2019. Currently, she hosts The Smartpreneur Show, where she highlights the journeys of industry leaders and entrepreneurs. She is a co-host at Nigeria’s number one talk radio station, Nigeria Info, and has recently been seen on an advocacy show on NewscentralTV’s ‘A Place At the Table’.

These combined experiences and achievements make her extraordinary in the drive for impact and innovation.

Telecoms Business

3. Kingsley Adonu

Kingsley Adonu, the founder and CEO of S Mobile Group, is one entrepreneur who is changing the role of technology and business in Africa. His initiatives in 2024 make him one of the most daring entrepreneurs to watch in 2025. 

Adonu’s most commendable achievement of the year was his announcement of the S Mobile Tech Hub in Enugu State, a Corporate Social Responsibility (CSR) project aimed at promoting innovation, youth entrepreneurship, and job creation.

The hub, which comprises cutting-edge facilities such as robotics labs, high-speed internet, and co-working spaces, reiterates Adonu’s goal to empower young Nigerians. Aligning with the vision of Governor Peter Mbah to revitalise Enugu State’s economy, the hub seeks to create a rich startup ecosystem in the region. 

As the CEO of S Mobile Group, a conglomerate operating across telecommunications, real estate, oil and gas, and more, Adonu’s leadership has placed his company as a key partner of MTN Nigeria. His record-breaking performance in 2024, becoming MTN Nigeria’s top partner in airtime and data distribution, is a milestone for the Southeast region. 

Beyond his business ventures, Adonu’s influence includes academia and philanthropy. He was appointed as a patron of the Students Union Government at the University of Nigeria, Nsukka, strengthening his dedication to youth empowerment and education. In his acceptance speech, Adonu reaffirmed his focus on championing digital skills development among young people, revealing his vision of a brighter, tech-driven future for Nigeria.

Adonu’s recognition at the MTN Nigeria Partners Award and his international presence at telecom conferences have further firmed up his prestige as a leader who blends business acumen with a passion for societal impact. 

Transport | Logistics 

4. Chidi Ajaere

Chidi Ajaere is one of the most interesting young entrepreneurs in Nigeria, leading a diverse and thriving conglomerate with over 5,000 employees. As the chairman of GIG Group, Ajaere has masterminded the expansion of the company into various sectors, including logistics, aviation, real estate, banking, energy, and automobile manufacturing. 

In 2024, President Bola Tinubu appointed him to the newly established Presidential Economic Coordination Council (PECC), a body designed to drive economic growth and policy reform in Nigeria. As one of 31 distinguished members, Ajaere’s inclusion in the council further shows how well he is doing in the entrepreneurial space, placing him as one of the most promising entrepreneurs to watch in 2025.

His innovative mind has led to the creation of subsidiaries such as GIG Logistics, GIG Motors, Stella’s Banking and Finance, Richmondhill Real Estate and Property, Ziuss Energy, Oil & Gas, GIG Aviation, and, most recently, Jet Motors, a pioneering African electric vehicle (EV) manufacturer.

Under Ajaere’s leadership, GIG Logistics has flourished, expanding its reach to the United States, United Kingdom, China, and West Africa, delivering services that range from courier and e-commerce logistics to on-board courier services and packaging solutions. 

The company’s partnerships, such as the one with Aim Higher Africa in 2019, where it launched the “Back-2-School Giveaway” for underprivileged children, show that Ajaere aims big when it comes to social impact. Again, GIG Logistics has innovatively responded to Nigeria’s motorcycle ban by converting motorcycles into dispatch vehicles, creating an additional revenue stream for the business.

One of Ajaere’s crowning achievements came with the launch of Jet Motors, which introduced the JET MOVER, a multipurpose van, and an electric vehicle model that pushes Africa’s transition to eco-friendly transportation. The National Automotive Design and Development Council (NADDC) purchased electric vehicles from Jet Motors, reiterating Ajaere’s focus on reducing carbon emissions in Nigeria.

5. Onyeka Akumah

Onyeka Akumah, the co-founder and CEO of Treepz, is one with an obvious impact felt across the transportation sector in 2024, earning accolades that reflect his leadership. Akumah was named one of Africa’s Under 40 CEOs and received an honorary doctorate from Prowess University, Delaware, USA. His role as a Techstars Global All-Star Mentor further highlights his drive for entrepreneurial talent across Africa.

Treepz’s innovative corporate mobility solutions garnered recognition, with the company winning the Best Startup Pitch in Africa award at the African Union Private Sector High-Level Conference in Lusaka, Zambia. This was accompanied by cash awards from Afreximbank and Google, emphasizing Treepz’s impact on the mobility sector in Nigeria, Ghana, Uganda, and Kenya.

Akumah’s work in real estate through Small Small Technology and in agriculture with Farmcrowdy, Mazia Honey & Tea, and Nyeri Hills Coffee have positively impacted thousands of individuals across the continent. His mentorship of over 60 startups and his contributions as a visiting lecturer at the Rome Business School reiterates his zeal to empower entrepreneurs.

Akumah is a role model for entrepreneurs aiming to scale their ventures while addressing pressing societal needs.

eCommerce | Delivery 

6. Prince Nnamdi Ekeh

Prince Nnamdi Ekeh, CEO of Konga Group, is pioneering innovation in Nigeria’s e-commerce sector. In 2024, he tackled challenges such as logistics inefficiencies, exchange rate instability, and corruption, helping Konga’s efficiency in the industry. 

Under his leadership, Konga introduced solutions like Konga Prime, a subscription-based delivery service offering unlimited free delivery, and KongaPay, a secure digital payment platform enhancing financial inclusion.

Ekeh’s creative approach has transformed Konga into a hybrid e-commerce model that combines online and offline retail. This model has bridged gaps in Nigeria’s diverse market, providing logistical support through Konga Express and expanding product categories to take care of evolving customer needs. Again, Konga has onboarded numerous Nigerian SMEs, supporting local businesses and enabling economic growth.

In 2024, Ekeh led youth empowerment and technology adoption, recognising Africa’s youthful population as key drivers of change. His advocacy for intra-African trade and blockchain technology further accentuates his drive to leverage innovation for economic growth. With his exceptional foresight and leadership, Prince Nnamdi Ekeh is among the top entrepreneurs to watch in 2025.

Cybersecurity

7. Samuel Ubido

Samuel Ubido’s accomplishments have strengthened his standing as a thought leader in cybersecurity and fintech investments. As a Chartered Engineer with the Institution of Engineering and Technology, his expertise spans decades of engineering and cybersecurity merit. In 2024, he joined First Circle Capital as a Venture Partner, focusing on African fintech investments.

His influence extended globally as he led key panels at GITEX AFRICA, Fintech Surge, and Money20/20 Middle East, addressing topics like financial inclusion and cybersecurity. Samuel also launched his YouTube channel, Cyber Monday with Sam, where he shares insights into cybersecurity and innovation.

At Techinnovate Group, Samuel facilitated investor roundtables and strategic partnerships for organisations like NITDA Nigeria, Kigali International Financial Centre, and Wema Bank Plc. The company plans to launch a Cybersecurity Conference and Training Programs to develop talent and protect critical assets in 2025, collaborate with the University of Oxford to offer an Offline Education System, providing global access to quality education and strengthen trade links between the Middle East and Africa, providing African startups and SMEs with mentorship and funding.

Samuel’s ability to merge technical expertise with investment vision has placed him among the top entrepreneurs to watch in 2025. 

Aviation 

8. Chukwuerika Achum

As the CEO of Nigerian business aviation firm Vivajets, Chukwuerika Achum is driving integration and connectivity across Africa. In 2024, Vivajets showcased its innovative edge by attending the Africa CEO Forum in Kigali, Rwanda, where Achum highlighted the role of business aviation in overcoming Africa’s logistical and geographical challenges. The firm’s digital platforms, CharterXE and FlyPJX, have boosted private aviation by making it more accessible and affordable.

Vivajets also made a move into the fashion industry during the 2024 Lagos Fashion Week, debuting exclusive cabin crew attire designed by Ivorian designer Loza Maléombho. Inspired by the African Kinkeliba tree, the uniforms seamlessly blended cultural heritage with luxury, cementing Vivajets as a symbol of African elegance and innovation.

Achum also took part in the Invest in Africa Conference (AFSIC) in London and announced Vivajets’ sponsorship of the Africa Financial Summit (AFIS) 2024 in Casablanca, Morocco. Under his leadership, Vivajets has expanded its fleet, grown its global routes, and strengthened its place in the $1.09 billion African business aviation market, projected to reach $2.14 billion by 2030.

Digital Assets

9. Chuta Chimezie

Chuta Chimezie is a force in Africa’s blockchain and tech innovation sectors. He is the founder of the Blockchain Nigeria User Group (BNUG) and CEO of BlockSpace Technology Innovation Hub, who has built communities focused on blockchain exploration and development. In 2024, BNUG hosted Nigeria’s largest blockchain and cryptocurrency events, promoting education and collaboration within the industry.

Chimezie also had academic achievements, completing a pre-MSc program in Blockchain and Digital Currency at the University of Nicosia, Cyprus, and continuing an MSc in Cryptocurrency. His book, Seizing Opportunities in Blockchain & Digital Currency Revolution, is a definitive guide for enthusiasts walking through the complex blockchain industry.

As an advocate for open-source technologies, Chimezie has spent nearly a decade training individuals in Drupal and other open-source platforms. His upcoming book, Building Blocks of Blockchain StartUP Entrepreneurs, focuses on empowering the next generation of tech leaders. 

Interestingly, his expertise includes 3D printing, robotics, and drone technologies, making him a multifaceted innovator to watch in 2025.

Communications | PR

10. Ayeni Adekunle

Ayeni Adekunle, founder and CEO of BlackHouse Media (BHM), showed his ability to lead the communications sector to new levels in 2024.

Under his stewardship, BHM was listed by Financial Times among the fastest-growing companies in Africa for the second consecutive year. 

The FT ranking, which evaluates the compound annual growth rate (CAGR) of independent African companies, affirmed BHM’s solid revenue growth and strategic market expansion.

Ayeni’s vision to create a global communications services company rooted in Africa is gaining traction, bolstered by BHM’s innovative initiatives such as the continent’s first PR & Communications Report and the World PR Day celebrated annually on July 16. His company’s data-driven approach and resilience in the African business industry have placed him among the top entrepreneurs to watch in 2025.

Not just BHM, Ayeni’s contributions to the broader marketing and entertainment sectors through platforms like TheNETng and the Nigeria Entertainment Conference (NEC Live) have also been recognized. With his longstanding track record, Ayeni is one of the innovators building Africa’s communications and media industries.

The post 10 Entrepreneurs to Watch in 2025 appeared first on Tech | Business | Economy.

The ever-innovating BNUG maximises the acceleration of technology to make the world a better place for all, and through its most recent programme, ‘Lagos Blockchain & FutureTech Conference/Exhibition’, the group has come up with ways to impact and support the Nigerian political ecosystem through blockchain technology.

Through the use of Non-Fungible Token (NFT), an aspect of blockchain comprising cryptographic assets with unique identification codes and metadata, BNUG is creating political awareness.

“While the existing metaverse industry has been described as ‘basic and weird’ due to nascent technology and adoption, it’s expected to have a profound impact on gaming, social interaction, education, and arts. The marriage between metaverses and NFTs is inevitable since the metaverse NFTs will power the next growth cycle in digital collectibles on the internet.

We have also seen huge investments by bigtechs like Microsoft, Meta, NVIDIA, HTC, and Apple into VR, AR, and other kinds of XR hardware, pointing to a huge potential in the Virtual worlds. Moreover, over 5 million people currently log in to the metaverse and virtual world creating and participating in the metaverse economy valued at over $825 Billion!”

What makes the 2022 Lagos Blockchain & FutureTech Conference/Exhibition unique?

First, participants will be able to mint special access NFTs for different aspects of the event and also support their preferred 2023 presidential candidates via blockchain technology;

• Conference goodie bags NFT
• Networking & Boat Cruise NFT
• Metaverse Experience Room NFT
• BNUG Exclusive events NFT

Asides experiencing the Metaverse in VR, participants will be able to:

• Lay the first stone with NFTs and learn precisely what they are and what you can do with them;
• Learn how to become an NFT buyer or seller;
• Get insights and tips from the industry’s top professionals;
• Enjoy informal networking.

Follow the link to find out more about the conference and register to attend.

The post Blockchain Nigeria User Group: Creating Political Awareness Through NFT appeared first on Tech | Business | Economy.