Design thinking is a methodology that places users at the center of the problem-solving process. It involves five key stages: empathize, define, ideate, prototype, and test.

By deeply understanding the users’ needs and experiences, companies may create creative solutions that are easy to use and highly efficient.

This iterative approach promotes testing and feedback, enabling ideas to be continuously improved and refined.

Design Thinking has been an effective approach in Nigeria, where challenges are often complex and resources scarce, Design Thinking has emerged as a powerful tool. Both new and existing businesses are seeing how it may spur expansion and have a long-lasting effect.

Fintech companies, for example, are using Design Thinking to create financial solutions that are specifically targeted at the unbanked population.

They are developing solutions that are not just practical but also emotionally meaningful since they have a thorough awareness of the difficulties these people encounter.

As an experienced product designer and tech enthusiast, I have seen directly how design thinking is changing the business environment in Nigeria and helping businesses remain competitive in a market that is changing quickly.

Numerous Nigerian businesses have effectively incorporated design thinking into their operations, spurring creativity and producing outstanding outcomes. Here are few instances:

1. Leading fintech startups in Nigeria, Flutterwave and Barter App, have adopted design thinking to provide streamlined payment solutions for organizations around Africa. They have increased financial inclusion and streamlined processes. These solutions were modified in response to customer input thanks to the iterative testing method, which produced extremely intuitive and user-friendly products.

2. Andela, a company focused on building engineering teams with top African talent, utilizes design thinking to address the challenge of connecting skilled developers with global opportunities. They have honed their platform to offer a smooth experience for the hiring organization as well as the developer through continual prototyping and testing. With the help of this strategy, Andela has been able to grow quickly and close the skill gap in the IT sector.

3. One of the top technological companies, Terragon Group, has effectively incorporated Design Thinking into its process of developing new products. Through a keen understanding of their target market, they have developed cutting-edge digital marketing strategies that have resonated with customers.

4. It is gaining traction in other areas outside technology. For instance, businesses are employing this strategy in the fast-moving consumer goods (FMCG) industry to create items that suit Nigerian consumers’ changing interests and inclinations. By involving consumers in the product development process, they’re ensuring that their offerings are truly relevant and desirable.

Though it is becoming more popular, Nigeria has not yet fully embraced Design Thinking to the fullest extent possible. It is imperative that additional organizations adopt this practice and allocate resources towards staff training. Furthermore, cultivating an innovative and innovative culture is essential to the successful implementation of Design Thinking.

Finally, as businesses like Flutterwave, Andela, and Terragon Group are tackling difficult issues and developing goods and services that improve the customer experience by embracing this human-centered approach, Nigeria will experience a surge of creativity that will take it to new heights in the international market as more companies adopt design thinking.

Through the consistent prioritization of user demands and the application of design thinking approaches, Nigerian businesses may realize their full potential and attain sustainable success.

About the Writer

Kizito is a proactive and experienced Product Designer and IT Specialist with a passion for leveraging creative design skills and technical expertise to create innovative, user-centric products. Over the few years, he has consistently delivered exceptional product design solutions for both B2B and B2C markets, working with renowned organizations such as East Renfrewshire Council and Tritek Consulting Limited UK.

He is Known for his human-centered approach, Kizito excels in understanding user needs and applying design thinking methodologies to drive business goals and enhance user satisfaction.

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Mr. Atanda, a panellist at the Good Tenant Conference held recently in Lagos, addressed the theme: “Maximising ROI and Scaling Impact for Property Management Companies through Technology.”

He elaborated on how innovation through data and technology can help Property Management Companies identify new and existing market opportunities, driving operational growth.

Fellow panellists included Adekunle Jinadu, Co-Founder, Good Tenants; Osarugue Awani, Vice President, Marketing and Strategy, Terragon Group; and Charlotte Oduniade-Akeju, Chief Business Director, Tremendoc Limited; amongst others.

They reached a consensus on the pivotal role of data aggregation, partnerships, and technology in the PropTech industry.

PropTech refers to the application of technology to improve the real estate industry. While the PropTech industry is still in its early stages of development, it is growing rapidly.

According to Precedence Research, the global PropTech market size was valued at $30.16 billion in 2022 and is projected to reach $133.05 billion by 2032, growing at a Compound Annual Growth Rate (CAGR) of 16%.

This investment is fueling the development of new and innovative solutions for the industry.

According to Mr. Atanda, the increasing application of technology in this sector holds significant promise. However, traditional industry players risk being disrupted if they fail to adapt and align themselves with this trend.

“Technology is rapidly reshaping the real estate landscape, fundamentally altering how the sector operates. Notably, this transformation is being driven by individuals and organisations outside the traditional realm of property experts.”

“This shift highlights the disruptive power of technology when applied to established industries. It can dislodge and replace those who hold traditional roles, particularly if they fail to embrace technological advancements. Hence, the urgent need for industry players to move beyond a superficial interest in technology and actively engage in its adoption and implementation,” he remarked.

The Managing Director of Remita further highlighted their existing collaborations with some of Nigeria’s leading financial service providers. The company is actively onboarding diverse tech startups through its dedicated “Remita for Startups” initiative, designed to provide essential support and accelerate the success of these emerging businesses.

The “Remita for Startups” initiative provides startups with a comprehensive suite of resources aimed at empowering them throughout their venture-building journey.

These resources include training opportunities through the Remita Startup Academy; granting startups access to experienced professionals within the tech ecosystem.

Additionally, startups can benefit from extensive product development opportunities by utilising Remita’s solutions, such as funds transfer APIs, payment gateway APIs, a comprehensive vending suite, direct debit APIs, POS terminals, and more. The initiative also offers valuable collaboration opportunities through strategic partnerships and access to capital.

With a population exceeding 200 million individuals, according to data from the United Nations, Nigeria presents a significant and largely untapped market opportunity. The informal sector contributes an estimated 70% of the country’s GDP (National Bureau of Statistics of Nigeria). However, unlocking the full potential of this market necessitates effective data aggregation, transparent processes, increased efficiency, stringent quality standards, and a streamlined credit system.

Mr. Atanda recognises this vast chasm of possibilities, stating, “Remita is evolving into a data-driven company. Data can reveal a wealth of insights about the industry and its tenants. We are on the cusp of revolutionising Nigerian real estate through data and technology, while simultaneously supporting startups entering the sector.”

The deployment of technology and data possesses the potential to make the Nigerian real estate sector more transparent; boost liquidity through access to flexible credit; cut fraud through increased title integrity; aggregate demand to drive greater homeownership and reduce bureaucratic bottlenecks limiting sectoral growth.

Mr Atanda further stated that as with every other economic segment, innovation will always outpace regulation. Real estate operators must, therefore, proactively explore the vast potential within this sector, staying ahead of regulatory frameworks.

“Technology is permeating the real estate sector and defining its workings. Even individuals not directly involved in real estate will contribute through data, paving the way for technology startups to disrupt the industry. Property Management Companies neglecting to innovate will be left behind in the industry’s new growth phase, which will be fuelled by data and technology,” he concluded.

Recognising the substantial financial commitment real estate represents for many individuals, Mr Atanda highlighted the company’s commitment to alleviating this burden through innovative solutions.

“We offer an automated direct debit service, in conjunction with partnerships with key organisations, to provide salary earners and SMEs with consistent cash flow a convenient and timely solution for rent payments to landlords and property management firms,” he remarked.

Echoing Mr Atanda’s sentiments, Adekunle Jinadu, co-Founder of Good Tenants, emphasised the company’s dedication to leveraging technology and process innovation to unlock and grow diverse revenue streams for property and facility management leaders.

He quipped that his organisations’s research across the African property market reveals similar challenges that demand more technological solutions.

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The headline session will feature a fireside conversation with Julia Collins, who will share valuable insights on her experience as a successful serial tech entrepreneur. The event is expected to be the largest gathering of women in tech in Africa.

With the current global macroeconomic environment in mind, the theme for the 2023 Africa Tech Female Founder Summit is Building Resilience: Adapting to New Realities, which addresses head on the challenges African founders and operators are currently facing, as well as providing timely and practical advice and support from experienced global and African business leaders.

Julia Collins, the first black woman to build a unicorn, will give this year’s keynote, as well as host a masterclass session on Getting to Product Market Fit.

Julia is now building Planet FWD, a leading decarbonization platform for consumer companies.

She will be joined on the day by Cikü Mugambi [Kobo360], Enas Siam [FlexStock], and Thomas Njeru [Pula], who will hold a panel on “When the going gets tough”, whilst Tokunbo Ishmael [Alithea Capital] will discuss the Importance of Investing in Women.

In addition, this year, the Africa Tech Female Founder Summit will host a number of masterclasses held by TLcom Partners such as Eloho Omame, as well as a special focus on Building and leveraging Networks by leading Executive Visibility expert Glory Edozien.

Having hosted the summit with 150+ African female founders and operators in Nairobi in 2022, this year sees the event move west to Lagos, Nigeria.

Applications to attend the event are now open.  

Speaking on the upcoming event, Omobola Johnson, Senior Partner at TLcom Capital, says,

“2023 has been a challenging year for founders across the continent, so this year we will be gathering our community of women in tech in Africa to share experiences, learn from experts in their fields and develop coping tactics that will help build resilient businesses to weather this current climate. We want to discuss in depth what resilience means and how it can be infused into businesses, their leaders, and their teams.” 

Andreata Muforo, Partner at TLcom Capital, adds,

“At this year’s Africa Tech Female Founder Summit, we will not only be discussing business survival but also business growth; there are opportunities for founders, even during more turbulent economic times. We’re excited to be hosting the continent’s largest gathering of women in tech, bringing some truly experienced and inspiring speakers to the table. We want all attendees to leave with not only a vision and renewed sense of community support but also with actionable insights that will benefit their businesses”.  

TLcom’s TIDE Africa Fund II, which is one of the most active funds across Africa, boasts a leadership team which is 60% female.

The firm has actively supported female founders not only through its annual summit but notably through its track record of investing in some of Africa’s top female-led startups, such as Okra and Pula. In 2022, TLcom also doubled down on its drive to address the severe funding gap for Africa’s female tech entrepreneurs with a co-investment commitment to support the launch of FirstCheck Africa’s debut fund.

Currently, TLcom manages total commitments of approximately $350mn and holds several African startups in its portfolio, including Andela, Ajua, Autochek, Ilara Health, Kobo360, Okra, Pastel, Pula, Seamless HR, Shara, Terragon Group, Twiga Foods, uLesson and Vendease.

With an on-the-ground presence in Kenya and Nigeria as well as offices in the UK, the firm invests across all stages of the venture capital cycle with a focus on Seed and Series A.

TLcom also invests across a wide range of industries, including agriculture, education, fintech, data analytics and logistics, targeting high-growth, tech-enabled startups across Africa.

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