With its most recent investment in TurnStay, the South African travel payment platform, which has just closed a $2M seed round, TAPSI has now deployed 50% of its capital.

TAPSI was launched in 2022 to extend TLcom’s investment reach to pre-seed stage companies, providing up to $200,000 in funding alongside access to the firm’s global network, operational expertise, and over two decades of experience in African venture investing.

The fund acts as an upstream feeder vehicle for TLcom’s core $154M TIDE Africa Fund II, enabling portfolio companies that perform well to progress to larger funding rounds.

In addition to Turnstay, the TAPSI portfolio currently includes Talstack [Nigeria], Bright Financial [Sudan and Ethiopia], Tradehub [Egypt], Agrails [Kenya] and three startups backed through its partnership with First Check Africa, which focuses on delivering early-stage capital to female founders.

Through TAPSI, TLcom expects to close on up to ten additional pre-seed investments before the end of 2026 and will continue to invest in diverse founding teams across Africa’s major innovation hubs.

Building on the investment approach of TLcom’s TIDE Fund I and TIDE Fund II, TAPSI is sector-agnostic and focuses on key sectors where TLcom sees strong early-stage potential for outsized impact.

Talstack’s journey demonstrates this approach in practice, leveraging its TAPSI pre-seed funding to validate its model and achieve early traction, culminating in a subsequent seed round from TIDE Fund II in 2024.

This dedicated pre-seed fund strengthens TLcom’s position as a multi-stage investor, reflecting the firm’s deep understanding of the funding lifecycle of the African tech ecosystem and the critical role early capital plays in setting African startups on a path to scale and create impact.

Eloho Omame, partner at TLcom Capital, says,

“Pre-seed investments allow us to expand our portfolio and allocate capital across multiple stages of a company’s lifecycle. Our goal is to create massive value in underserved markets and collaborate with African founders to build from the start all the way to exit; be it an acquisition or in the form of an IPO. This is by no means easy for any start-up, in any sector; building in Africa is not for the faint-hearted. However, the likelihood of success significantly increases if we support and work with founders earlier on in their journeys and we grow alongside them”.

TLcom boasts one of African tech’s most impressive early-stage portfolios, including Pula, uLesson, Autochek, FairMoney, Educatly, HUB2, ILLA, Littlefish, Seamless HR, and Andela – one of the continent’s tech unicorns.

With approximately $250 million under management, including the $154M TIDE Africa II, TLcom is dedicated to empowering ambitious entrepreneurs who are solving critical challenges in large, underserved markets.

Eloho Omame concludes,

“With TAPSI as a dedicated pre-seed arm of our investment platform, TLcom is uniquely positioned to back companies across their entire growth journey from ideation and product-market fit to scaling and maturity, reinforcing our role as a long-term partner to Africa’s most ambitious founders. As we progress with this fund, we look forward to speaking with and supporting more early-stage start-ups from across the continent”.

Once the terrain of advanced economies, AI is now making its way into a wide range of markets, showing its potential to drive progress in sectors from finance to agriculture and healthcare.

For many, especially those with little technical background and how emerging technology is here to better our lives, the idea of AI can still seem abstract.

But its applications—and opportunities—are not just confined to IT-aware individuals. They are relevant and transformative for everyone, including our local terrain.

Finance

At its centre, AI includes machines imitating human behaviours to perform assignments such as understanding dialect, recognizing pictures, or making choices. In Nigeria, one of the foremost noteworthy impacts of AI can be seen within the fintech sector.

Advanced loaning organizations unlike the traditional banks, like Carbon or FairMoney use AI capabilities to understand client’s credit worthiness, allowing loan credits to be extended to people without conventional credit histories.

Similarly, mobile payment systems use AI to detect fraudulent transactions by looking for irregular patterns and behaviours that does not conform with the history of the client, keeping users’ funds secure.

These tools are reshaping access to financial services for millions of unbanked and the underbanked.

Agriculture

Agriculture is another endeavour where artificial intelligence is making some serious impact, not just in Nigeria but in the general African space. In countries where agribusiness is the spine of their economy, AI capabilities are making a difference in driving efficiency for Farmers.

For instance, AI-powered drones and Internet of Things sensors monitor crops and soil conditions, helping with better decision-making when there is a need.

Concepts such as Hello Tractor, often referred to as the “Uber for tractors,” use AI to connect Agriculturists with tractor services, leading to farming operations optimization and increasing yields.

Such innovations address food security concerns and gives support to rural economies.

Healthcare

The healthcare sector for one is reaping huge benefits of AI, especially in regions with no or limited medical facilities.

In Nigeria, artificial intelligence -driven algorithms and tools are being used to diagnose serious diseases like tuberculosis, malaria and a wide range of illnesses with greater accuracy.

Bots like Ubenwa analyse infants’ cries to detect signs of birth asphyxia, a disorder which causes neonatal deaths.

These inventions through AI are lifesaving, especially in rural areas where there is limited access to specialist doctors.

Across Africa, initiatives like Zipline use AI-guided drones with sensors to deliver medical supplies to inaccessible rural communities, further enhancing healthcare accessibility.

Education

AI’s role in education is another crucial area of impact. In a continent with high levels of school-age population and limited teachers to attend to them, AI-powered platforms are helping bridge the gap. Digital & self-learning tools and virtual tutors personalize education, offering students and pupils tailored support and enabling self-paced learning.

For example, Nigerian edtech platforms like uLesson are already leveraging AI to make quality education more accessible and affordable, even in underserved communities.

While the potential benefits of AI in Africa are immense, there are numerous challenges, particularly when it comes to infrastructure and awareness.

Many Nigerians, and indeed Africans, may view AI as a sophisticated technology meant for super developed countries.

But the reality is that AI can solve local problems in ways that are deeply relevant. A good example is artificial intelligence being used in applications to predict flooding in Nigeria’s river basins, helping communities prepare for natural disasters.

However, the success of these solutions depends on improving internet connection, electricity supply, and digital literacy awareness across the continent.

A big concern around AI is Ethical consideration. As we embrace AI, the question remains; Who controls the data? In the Nigerian market, where data privacy and residency are a growing concern, it’s important that AI systems are developed responsibly.

The subject of responsible and explainable AI must be taken seriously. This includes ensuring that algorithms don’t inadvertently favor one geological location over another or deepen social inequalities. Another concern is the question of job loss.

While automation can free up workers from mundane tasks, it also calls for re-skilling, re-orientation and preparing the populace for jobs in an AI-driven economy.

It’s important to stress that AI is not an autopilot here to replace humans but a copilot to augment human potential.

In the Nigerian oil and gas industry, artificial intelligence is constantly now being used to analyse seismic data, but the experience and expertise of petroleum engineers remains vital for making decision.

Another example is in urban planning, AI can map informal settlements and propose infrastructure improvements, but the localized knowledge of individuals and leaders in the community is indispensable.

For Nigerians, embracing AI starts with understanding its practical implications. Whether it’s using AI to optimise traffic flow in the urban areas through smart ecosystems or adopting AI-driven mobile health apps, the technology is becoming an integral part of our daily life whether we like it or not.

It’s not about being IT savvy but about being open to new ways of solving challenges and improving our livelihoods.

The emergence of artificial intelligence in Nigeria and Africa as a whole goes beyond adopting global trends. It’s about leveraging these emerging innovations to fit our unique needs and aspirations, making it work for us as we navigate our way in this new era is important.

As we harness AI to tackle local challenges, we are not just keeping pace with the world but actively shaping the narrative of how technology can uplift our economies and communities. With the right investments in ethical practices, infrastructure, education and our way of thinking, AI has the potential to be a powerful force for good across the African continent.

Olusoji’s Bio:

Olusoji (Solomon) Adeyemo is an accomplished professional with over 17 years of experience in Presales Engineering Management, Solution Architecture, and Agile Project Management. Currently serving as an Azure Application Innovation & AI Specialist at Microsoft UK, Olusoji has a proven track record of driving technical excellence and delivering high-quality solutions in high-pressure environments. He has held key positions at Wipro, Huawei Technologies, Oracle, and Dell, showcasing his expertise in cloud infrastructure, Application modernization, and Business continuity solutions. Olusoji holds a Master’s degree in Computer Science with distinction from the University of Hertfordshire and Caleb University, and a Bachelor’s degree in Chemical Engineering from the University of Port Harcourt. He is currently enrolled to start his PhD research in Explainable AI and ML in the University of Hertfordshire UK. He is also certified in various cloud and project management technologies, including Microsoft Azure Expert, Google Expert, AWS and Scrum. Beyond his professional endeavors, Olusoji is committed to community service, engaging in private teaching and serving as a community cloud champion and evangelist. He can be reached via email: mastersoji@gmail.com

It’s like a chain reaction: an economic downturn leads to high cost of operations. Even though companies try to manage and scale through, the recent doubling of data costs by telcos in Nigeria, following NCC’s approval, has almost completely killed the dream of digital learning for individuals, including the customer base of edtechs like Edukoya.

Edukoya was seen as one of the companies giving hope to Nigeria’s edtech sector, aiming to bolster learning through an AI-powered digital platform. 

However, its sudden shutdown has left us questioning the sustainability of the environment Nigeria presents to edtech startups. Despite investments and a growing demand for digital learning, many startups find it hard to stay afloat.

Edukoya’s shutdown is not an isolated case—other edtech startups in Nigeria, such as Quizac, now acquired by Tekedia Capital, have also failed to scale successfully. 

While Nigeria’s edtech sector is projected to reach $400 million in 2025, we find ourselves at a crossroads, unsure of the industry’s thriving ability in an economy where disposable income is low and infrastructure gaps haven’t changed much.

Some organisations go as far as providing laptops for their students, but how many focus on data provision among other necessities? Is Nigeria’s edtech sector truly prospering, or are these shutdowns indicative of deeper structural issues? 

Let’s examine the industry’s prospects, challenges, and what Edukoya’s closure means for the horizon of edtech in Nigeria.

The Assurance of Nigeria’s Edtech Sector

A Market Ripe for Disruption

Nigeria’s education system is affected by overcrowded classrooms, underfunded public schools, and a lack of quality teaching resources. Edtech was supposed to bridge this gap.

• Massive student population: With over 40 million primary and secondary school students, Nigeria has one of the largest youth populations globally.
• Growing internet penetration: Over 50% of Nigerians now have internet access, and mobile subscriptions have grown above 157 million.
• Increased smartphone adoption: As smartphone prices drop, more students can access online learning platforms.

With poorly funded public schools, an alarming student-to-teacher ratio of 46:1, and outdated teaching methods, digital learning was meant to leverage the improvements and bridge these gaps.

Investment in Edtech

Between 2019 and 2023, Nigeria’s edtech sector witnessed a surge in funding:

• uLesson raised $15 million in 2021.
• AltSchool Africa secured $3 million in 2023.
• Edukoya itself raised $3.5 million in a pre-seed round, one of the largest for an African edtech startup.

The expectation was that these investments would drive growth, but Edukoya’s shutdown points to deeper issues.

Challenges Facing Nigerian Edtech Startups

Funding Winter & Economic Obstacles

While Nigeria’s edtech sector once attracted investors, the global funding slowdown has hit startups hard. In 2023, African startup funding dropped by 47% compared to 2022, forcing many companies to rethink their strategies.

• High inflation has increased costs of operations.
• The naira’s depreciation has made it harder for startups to manage foreign-denominated expenses.

Startups that rely on continuous funding rounds to survive are at risk, as venture capitalists become more cautious.

Market Readiness

Edukoya admitted that the Nigerian market was not yet ready for its synchronous learning model. The company struggled with:

• Low disposable income: Most Nigerian parents cannot afford premium digital learning services.
• Macroeconomic instability: High inflation and naira depreciation made scaling difficult.
• Connectivity and device access: Many students lack stable internet and affordable smartphones/tablets.

Without an addressable market that could afford edtech services at scale, Edukoya had no path to profitability.

Low Monetisation & Profitability Issues

The biggest challenge for Nigerian edtech startups is monetisation.

• Who is paying for these services? The majority of Nigerian students attend public schools, where parents struggle to afford even basic education expenses.
• Subscription fatigue: Many edtech platforms offer freemium models, but converting free users to paying subscribers is difficult.
• Alternative learning methods: Traditional home tutoring and free YouTube educational content compete with paid platforms.

Without a sustainable revenue model, even well-funded startups risk collapse.

Infrastructure & Accessibility Gaps

Nigeria’s high data costs and frequent power outages make digital learning difficult.

• Internet access: While penetration is increasing, many students still lack reliable connectivity.
• Device availability: Smartphones and tablets are expensive for lower-income families.

Unlike in developed markets, edtech solutions in Nigeria must address these accessibility issues to succeed.

Regulatory and Policy Limitations

The Nigerian government has shown interest in edtech, but policies are still weak.

• Public-private partnerships are limited.
• Government curriculum restrictions make it hard for edtech startups to innovate freely.

Without better regulatory support, scaling edtech solutions will stay challenging.

At the 2024 Mastercard Foundation Edtech Conference, Nigeria’s Minister of Communications, Dr Bosun Tijani, emphasised that inclusion is essential to edtech success:

“If we fail to reach all learners, we fail to fulfil our potential to revolutionise education.”

Edukoya’s battle to scale says a lot about inclusion still being far from reality.

Edukoya’s Case Study: What Went Wrong?

Business Model & Growth Challenges

Edukoya set out to enhance online K-12 learning in Africa, providing Digital educational content, Online tutoring for students and parents and An AI-powered platform for personalised learning. The edtech company provided free learning resources and paid premium services. 

Despite its vision, the startup faced: 

• High burn rate: Rapid expansion and costs of operations outpaced revenue growth.
• User retention struggles: Converting free users to paying customers proved difficult.
• Market competition: uLesson and other platforms had already established themselves in the space.

Funding & Economic Pressures

Though the edtech company raised $3.5 million, Edukoya couldn’t sustain operations in Nigeria’s harsh economic climate. Rather than pivoting or depleting funds, Edukoya chose to wind down operations and return capital to investors.

The startup had considered:

• Partnerships and mergers but failed to find viable options.
• A potential pivot to fintech, though it later denied this was its plan.
• Layoffs and cost-cutting, with reports stating its office had been closed for six months before shutting down.

The company reached 80,000 students, answered 15 million questions, and hosted thousands of daily live classes, however, it concluded that scaling was impossible in Nigeria’s current market conditions.

Lessons from Other Failed Edtech Startups

• Relying solely on VC funding is risky.
• Sustainable revenue models are indispensable.
• Adaptation to local economic realities is necessary.

Is There Still Hope for Edtech in Nigeria?

Long-term success will depend on:

• Affordable pricing models: More flexible payment options to suit the Nigerian market.
• Government support: Stronger policies to integrate edtech into public schools.
• Infrastructure improvements: Better internet connectivity and access to learning devices.

What Can Startups Do Differently?

• Rethink monetisation models: Tiered pricing or government partnerships can help affordability.
• Improve accessibility: More offline learning solutions for students with limited connectivity.
• Adopt flexible pricing models: Tiered pricing or partnerships with schools can help improve affordability.
• Leverage AI & adaptive learning: AI-driven personalised learning could make services more cost-effective.
• Strengthen government partnerships: Working with public schools can drive scale and adoption.

Predictions: More Shutdowns or a Market Rebound?

If the funding winter continues and macroeconomic issues get worse, more edtech shutdowns are inevitable. 

• Market readiness is still low.
• Disposable income constraints limit adoption.
• Infrastructure gaps make digital learning inaccessible to many.

However, startups that adapt to both local and global economic realities and build sustainable models may still thrive.

Unless business models evolve to fit Nigeria’s unique economic and educational space, the so-called “edtech boom” may remain nothing more than a myth.

For Nigerian edtech to succeed, startups must focus on real, scalable impact.

Speaking at the 2024 BNI National Business Conference held recently in Abeokuta, Ogun State, Banigbe stressed the importance of diversifying Nigeria’s economy through these key sectors.

He said,

“Nigeria’s overdependence on oil has made the country highly vulnerable to global economic shocks and recession. It is crucial that we diversify our economy to mitigate these risks. By doing so, we can tap into global opportunities and reduce our susceptibility to economic downturns.

The impact of the Naira’s depreciation is a stark reminder of the need for diversification. The Naira has lost significant value compared to its worth just a few years ago, affecting everyone. Diversification is no longer just a strategic option; it is essential for creating jobs, generating foreign exchange, and strengthening our economy’s resilience”.

Banigbe explained that,

“Nigeria is home to one of the world’s most vibrant technology ecosystems, and its tech industry is growing at an incredible pace, making it the fastest-growing sector in the country. With a dynamic young population and an increasing demand for digital solutions, Nigeria’s tech ecosystem has immense potential to drive non-oil growth and become the nation’s biggest export.

The country’s tech ecosystem is characterized by a large consumer market of over 200 million people, with more than 500 active and viable startups, and a rapidly growing tech industry. Lagos, Abuja, Ibadan, Kano, and Aba are key startup cities, with Lagos being the most valuable startup ecosystem in Africa, valued at $2 billion”.

He further stated that Agriculture has the potential to drive growth and provide livelihoods for millions of Nigerians.

The sector accounts for up to 35% of total employment in Nigeria and contributes significantly to the country’s GDP. With the right investment and support, agriculture can become a key driver of Nigeria’s economic diversification.

Other non-oil opportunities which can be explored include the Fintech companies which have changed the payment system in Nigeria and globally, electronic commerce which has so far created more SMEs than we have seen in the last decade and Education technology which became more popular with the advent of COVID-19.

“9mobile is seeking to explore some of these opportunities to position itself as the enabler of the creative and innovative economy”, Banigbe added.

Beyond oil, Nigeria has a plethora of untapped opportunities waiting to be harnessed. Key areas of focus include Fintech which is revolutionizing payment systems locally and globally, with companies like Flutterwave, Paystack, and PiggyVest leading the charge; E-commerce currently fueling the growth of SMEs, with platforms like Jumia, Konga, and Opay creating new avenues for entrepreneurship; Education Technology which is transforming learning experiences, especially since COVID-19, with innovative solutions from companies like uLesson, Roducate, and Tuteria.

“We at 9mobile are committed to exploring these opportunities, positioning ourselves as a catalyst for Nigeria’s creative and innovative economy,” Banigbe concluded.

The 2024 BNI National Business Conference with the theme featured a distinguished lineup of speakers, such as Nigeria’s former President, Chief Olusegun Obasanjo, as the Special Guest of Honour, alongside other notable figures including Dr. Adebola Olubanjo FCA, and Chief Kola Akosike of Oduacimma represented by Chief Abiodun Lasile.

The awards span multiple digital sectors, including education, finance, and enterprise technology, and are assessed by an independent panel of industry practitioners and ecosystem stakeholders.

Earlier this year, Anas Garba was recognised as one of the recipients of the Emerging Tech Product Leader of the Year in the Education Technology Sector award.

The recognition reflected his growing professional standing as a product manager contributing to the development and delivery of digital education platforms, particularly through his work at uLesson.

The award category is intended to recognise early- to mid-career product professionals who demonstrate clear progression, increasing responsibility, and meaningful contribution to technology-enabled products within their sector.

Multiple recipients are typically selected each year to reflect emerging leadership across Nigeria’s technology landscape.

At uLesson, Anas has been closely involved in the development and iteration of curriculum-aligned digital learning products used by secondary school students.

His work has focused on improving lesson structure, learner engagement, and usability across mobile devices, which serve as the primary access point for learners across uLesson’s operating markets.

The recognition acknowledged Anas’s role as a hands-on product practitioner, rather than a founder or senior executive, highlighting his direct involvement in shaping learner-facing features and improving the overall product experience.

His selection as one of the recipients reflects both individual contribution and the growing relevance of education technology within Nigeria’s digital economy.

This award provides third-party validation of Anas Garba’s professional trajectory in digital technology and supports his positioning under the Exceptional Promise route, where assessors look for credible indicators of future leadership.

While many know Sim Shagaya as the Founder and CEO of uLesson, his path to success includes a series of ventures that have significantly contributed to the region’s digital growth.

Before his work with uLesson, Sim Shagaya embarked on several entrepreneurial ventures, demonstrating his resilience and determination. Notably, he founded Alarena, Jobclan, Gbogbo, and iNollyWood, although these ventures did not achieve the desired success. 

Undeterred, Shagaya’s entrepreneurial spirit led him to establish DealDey in March 2011, with support from the billboard company he owned. Subsequently, in July 2012, he founded Konga.com, an online marketplace aiming to bridge the gap between traditional retailers and the burgeoning online consumer market.

Prior to his foray into entrepreneurship, Shagaya worked in the banking sector in South Africa under Rand Merchant Bank. His expertise and passion for technology eventually led him to Google, where he served as the head for Africa, playing a key role in the company’s entry into sub-Saharan Africa. Following his stint at Google, he founded E-Motion, a leading out-of-home advertising company with a significant presence in Nigerian cities.

Excited Fans Welcome KongaTV as a Game Changer in Africa’s eCommerce Space

In 2020, Sim Shagaya embarked on his most life-changing venture yet: uLesson Education Limited, which has impacted millions of youth in the continent. Recognizing the potential of digital education in Africa, uLesson is an innovative educational platform aimed at empowering African learners. Through this platform, Shagaya and his team have created digital education products that redefine learning experiences. The platform asserts impressive statistics, with over 10.6 million lessons watched, 3.6 million questions attempted, 810,000+ live lessons attended, and 3.5 million app downloads.

Sim Shagaya’s zeal for education goes far beyond uLesson. He recently founded Miva Open University, where he serves as the Chancellor. This institution, established in May 2023, is focused on providing accessible and high-quality education to learners in Nigeria and beyond.

Recognitions and Accolades

Shagaya’s exceptional leadership and entrepreneurial achievements have attained global recognition. He has received numerous awards, including the CNBC/All Africa Business Leaders Award in West Africa in 2013 and the Leadership CEO of the Year Award in 2014. Additionally, Forbes recognized him as one of “The 10 Most Powerful Men In Africa 2014,” highlighting his significant impact on the continent’s business landscape.

Sim Shagaya is making a huge impact in the online commerce and education sector in Africa, inspiring a new generation of entrepreneurs. His legacy will undoubtedly leave a lasting impact on the continent’s economic thrive.

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.

He is a former Nigeria international cricket player and outside of work Sowole runs a non-profit that uses the game of cricket as a tool for social impact in Africa. In this interview, Tayo Sowole advises sales professionals on how to get the best from their past experiences.

How did you come to be a sales coach?

Like most people, I got into sales by chance. One of the things that I think set me up for success is that I always had people by my side who walked the walk and showed me the ropes. I can confidently say that the difference between failure and success early in my career was the quality of coaches I had in my corner. I became a sales coach to be able to be part of the reason other sales professionals have a better shot at success.

Over the years, I have honed my skills and built a strong understanding of best practices in sales, which I now use to help individuals and teams reach their full potential. Whether it’s through one-on-one coaching, group training sessions, or customized programs, I am committed to empowering sales professionals to achieve their goals and drive growth for their organizations.

As a sales coach, what are some of the most difficult moments you have ever faced?

Every interaction is unique and most people who hire a sales coach have at least a vague idea of what their goals are. It can become tricky at times when people who have not quite decided whether or not sales is for them try to hire a sales coach to figure this out.

In your view, what is the difference between leading, managing, coaching and mentoring?

Leading, managing, coaching, and mentoring are all related, yet distinct, concepts in the world of work. A leader sets the vision, strategy, and objectives, and motivates and guides their team to achieve these goals.

Managing speaks more to the day-to-day activities of a leader. It involves organizing and coordinating people and other resources to achieve specific goals.

The focus of coaching is to help an individual or a team achieve their personal and professional growth through a series of periodic interactions that help the coachee build knowledge, confidence and skills. It is typically focused on specific, measurable outcomes that may have been set wholly by the individual or together with the coach.

Mentoring and Coaching are very similar. In my opinion, the major difference is that while coaching focuses more on improving technical skills, mentoring is more focused on the bigger picture, focusing on life skills like decision-making for people who are already close to the top of their technical abilities.

What kind of sales leader are you? How would you describe your leadership style?

I like to think of myself as a Doer. A roll up your sleeves and get involved in the work kind of person and I certainly bring that into my interactions with my colleagues and teammates.

I think that one of the best ways to teach, especially something practical like sales is for you to show people what is possible and how it can be achieved while also allowing them to adopt and adapt parts of it that suit their own working style.

I like to build teams that are very ambitious, aggressive in a good way, communicate freely and honestly and continue to put the success of the customer first. That is the kind of sales leader I continue to work towards being

We have a lot of technology, business, and sales-enabling tools emerging, what’s your view on this development?

Technology is a good thing. The right technology in the hands of the best people is maybe the best feeling in the world from the point of view of any business leader. It helps you and your team become exponentially more efficient. I will always be pro-Technology to the point where it enables rather than replaces the human touch in our interactions

Tell us about uLesson

I think that uLesson is one of the most important companies being built in Nigeria today.

By providing high-quality, curriculum-relevant educational video lessons, assessments and quizzes and making them accessible to millions of learners across the continent, uLesson is making sure that the next generation of African learners do not get marginalized.

Today, because of uLesson, all learners from Grades 1 to 12 (Primary 1 to SSS 3) can achieve their academic goals more easily than was previously possible.

How have you managed to navigate through these harsh economic times?

We have a culture of laser focusing on the customer and their needs. By putting the customer first, we have continued to see astonishing levels of adoption. I think that this is one of the biggest reasons for our continued success

Is there anything unique about selling SaaS that is different from other sales environments?

Yes, there are a number of things that make selling SaaS products a unique experience

First is the recurring nature of the business model. Even during the initial sales process, you must think about the future of the customer you are trying to close. You must be selling to them now knowing that in a year or sometimes less, you need them to make another purchase and do it over and over. That changes the way you would sell if it was a one-off sale.

The point above means that your value proposition must go beyond solving their problem temporarily. It also means that you must be fully invested in the overall amount of satisfaction that the customer gets from using your product.

The length of the sales cycle especially for B2B SaaS is also something that many people who are new to the space find surprising.

SaaS sales cycles are typically long not just because of the value of some of these deals but also the number of stakeholders that need to be convinced that this is the right product for their business.

I guess the biggest difference is the need to be laser-focused on defining your Ideal Customer Profile and deciding whether the prospects or leads you are currently talking to are a good match.

Despite all these, good, adaptable salespeople will typically do well across industries.

What do you think is the most important trait of a successful salesperson?

The most important trait for a salesperson is the will to win. Everything else stems from this.

There are a number of skills, both soft and technical that you need to acquire and hone continuously from the start till the end of your career. You will have bad days, weeks and even months. You have to continue to pick yourself up. Most of the other things can be taught but the will to win is what keeps you in the game.

Diverse myths surround salespeople, can you describe how your personal values have impacted your work?

There used to be a general feeling that salespeople are dishonest and would say or do anything to get the sale. I get the feeling that people now have a better understanding of sales and sales professionals now and this feeling is maybe disappearing gradually.

As a cricketer, one of the things that you are taught is to always be honourable in your conduct. I always apply that to my work. By telling a customer that my product won’t work for them and walking away from the sale, I have gained their trust and respect which is oftentimes useful for future interactions

What is the most critical factor in maintaining long-term business relationships with customers?

Delivering the value you promised them is by far the most important thing to customers.

The key is to promise what you can deliver and then go above that promise. Salespeople need to earn trust by being honest and clarifying the limit to which their product can solve the problems customers have. The software will never do 100% of what customers want so there is absolutely no reason to lie. Things will break, take responsibility, communicate clearly, fix it and continue to be helpful to the customer

How do you think sales strategy should evolve as the business grows?

This varies and is dependent on many different factors but flexibility and adaptability are the keywords here. As a business grows, its sales strategy should evolve to ensure continued success and growth.

I like to take a data-driven approach to these things. By measuring the impact of different initiatives, businesses can see which ones to double down on and which initiatives to pull the plug on.

Some of it may be as simple as increasing the number of salespeople to match the increasing volume of leads or simply fine-tuning your sales process to make your people more efficient and productive or they could be mildly complex like segmenting your customers and differentiating your customers to match the different customer segments.

As your business matures and you gain more confidence in your product market fit, you may find that advertising heavily is now a profitable strategy.

So far, what period can you tag as the most groundbreaking era in your career?

I have enjoyed every stage of my career. Today I am able to draw from my experience building a chain of physical stores at EzWash, going from a fresh-faced sales person to leading my own team at Dealdey, building out the sales operations at Bento and selling to some of the biggest consulting firms at SeamlessHR

My current role at uLesson has allowed me to deploy all of my experience. I have had to grow from just a sales leader to a business leader with responsibilities spanning across Sales, Marketing, Customer Success and Retention, Product, Profit and Loss and more and I continue to learn on the job.

One of the most enjoyable parts of my job is helping people get better at their craft and seeing them make significant and impactful contributions. I absolutely love it.

Technology came in and gradually bridged that gap, facilitating the edtech sector; although not yet decentralized across the globe, as the recent Global Education Monitoring Report, and the UNESCO Institute for Statistics revealed that 244 million children and youth between the ages of 6 to 18 were still educationally excluded in 2021.

This was despite the heat of the pandemic which accelerated the edtech sector in 2020.

But then, players in the field are strongly coming together to tackle this issue. Ranging from primary and secondary education to digital skill acquisition and others, these startups are not limited across Africa; but to mention a few, they include:

1. uLesson

Leveraging technology to enable students learn at a convenient pace, uLesson is making education self-fulfilling and exciting for learners at primary and secondary levels.

Its simplified teaching methods are designed to carry students along individually and holistically, depending on their learning abilities, so no one is left behind.

Founded barely four years ago by Sim Shagaya, a technopreneur and serial investor who also founded 

Konga, Lesson has already raised $25.6 million, backed by investors such as Nielsen Ventures, TLcom Capital Partners, Founder Collective, Tencent, Owl Ventures, among others.

The startup affirms to have over 3.5 million downloads with increasing user interest, 10.6 million lessons watched, 810k+ live lessons attended and more than 3.6 million questions attempted.

2. AltSchool Africa

What makes AltSchool interesting is its non-traditional approach to grooming individuals from zero to hero within a targeted period. The edutech platform takes up students with or without technical knowledge and trains them to become experts in fields such as product design, product marketing, product development, software engineering, data analysis and data science.

AltSchool transitioned from TalentQL to build a broader foundation where students can kickstart their dream tech career; fresh out of high school, seeking extra education, or want to transition to a career in tech, anyone goes, AltSchool will give you the skills and insight to achieve the success you desire.

In February 2022, the startup raised $1 million in pre-seed funding to bolster its efforts in edutech. According to the founders Adewale Yusuf, Akintunde Sultan and Opeyemi Awoyemi, the fund was launched into building its content and curriculum, technology infrastructure and community concept, so students can meet offline to network and learn together.

3. Teesas

What I love most about Teesas is its connection to the African root and its zeal to bridge the educational gap in the continent through an inclusive approach. In its drive to enhance education in Africa through technology, the startup combines local and global learning, it provides educational tablets to students so they are not limited by a lack of technological reach to take part in education across the globe.

Founded by Osayi Izedonmwen, Teesas started a donate program last year, ensuring no child is left behind, but everyone gains access to quality education for free and collaborating to achieve its goal.

Teesas enables students learn alphabets, greetings, songs, folktales, history and lots more both in indigenous and English languages. Its expert tutors provide live classes with personalized experiences to every child, with gamified teaching methods, animations and musicals that will grasp every child’s learning interest.

4. Edukoya

Lagos- and London-based Edukoya was founded by CEO Honey Ogundeyi, who was also the founding CMO of Kuda, a Nigerian neobank. The startup was built on a model that reaches parents and learners 100% online, providing support for examinations and day-to-day learning, including homework.

Edukoya focuses on students in grades 10 to 12 and those taking exams into tertiary institutions. This is different from other edtech platforms that targets mainly grades 1 to 12.

The edtech kick-started its journey less than two years ago and is backed by Target Global and other angel investors such as Shola Akinlade, Ed Robinson, Raffael Johnen, Babs Ogundeyi and others.

5. Edves

Another edtech startup focused on ensuring the development of individuals with in-demand skills, Edves digitizes teaching and learning a secure School Management Software.

The startup, which has already enrolled over 400,000 students, is present in 10 countries, with 29,000+ educators, 25,000+ administrators and is currently leveraged by over 1500 schools. 

Backed by Launch Africa, Chinook Capital Limited, Future Africa, Beta Ventures, Growth Capital and Seedstars, Edves was founded by Dimeji Falana and Dare Adebayo Edves. Its partners include MTN, Paystack, Interswitch, Flutterwave and 9mobile.

Its technology enables users track daily expenses, generate bills, process payment receipts, manage inventory, track defaulters and automate every step of the financial reporting process, as well as real-time monitoring by parents.

6. RiseBack

RiseBack recently launched for African students in September 2022. The edtech company offers affordable college degrees to students in partnership with leading Indian Universities, enabling them gain quality education and higher-paying jobs after graduation, without worrying about student debt.

RiseBack offers Skill & Professional Training & Certification Programs, US Evaluation of Degrees assistance, Recruitment assistance, Internship assistance, Incubation & Acceleration services for Students Startups.

Its focus is currently on students getting the chance to study in Indian Universities because of the schools’ reputation over the years, having created super successful alumni who are heads of Fortune 500 companies, Noble Laureates, Scientists, Academicians, IT Professionals, Serial Entrepreneurs & investors.

7. GetBundi

GetBundi has developed digital skills and STEM-related courses for secondary school students based on the West African curriculum.

The edtech is taking advantage of time to help students get equipped for the future, taking hold of the millions of tech-related jobs springing up every day. From digital marketing, coding, graphics, video editing and cybersecurity, GetBundi equips students in less than 3 months.

Launched in July 2022, the startup was founded by Osita Oparaugo. It currently has over 1,008 hours of audio-visual content on the platform covering six years of secondary school curriculum.

8. Utiva

From training users on data and numbers, to designing and creativity, business analysis, programming, cloud development product marketing and many more, Utiva is a platform for learning digital skills virtually.

Present in over 30 countries, the edtech leverages partnerships to facilitate its drive and achievements. These partners include Flutterwave, Autochek, CredPal, Nomba, Bundle, Moove, TeamApt, Cowrywise, Opay and many more.

Having trained over 30,000 students across focus aspects, Utiva was founded by Nigerian tech entrepreneur,  Eyitayo Ogunmola.

9. Classera

Backed by 500 Global, Endeavor Catalyst, Global Ventures, Sanabil, Sukna Ventures, among other investors, Classera has raised a total funding of $40 million to scale its edtech solution.

Classera utilizes a Learning Super Platform (LSP) to enhance education and corporate e-training sectors. The Silicon Valley-founded edtech was built by Mohammad Almadani and his partner Mohammad Alashmawi. It leverages artificial intelligence and social learning to provide an integrated e-learning platform and e-payment gateway “C-Pay” for pocket money, tuition payments and financing, and a specialized educational marketplace for edtech and educational supplies products “Edumalls”.

Classera’s users include over 10 Ministries of Education, private K-12 schools, universities, and corporates for e-training. It affirms to have developed over 100 strategic partnerships with global and regional players including Microsoft, Zoom, Amazon, Intel, Udemy, and HP. 

10. LearnAm

LearnAm is a localized mobile platform focused on improving digital literacy and inclusion in Africa, taking out language barriers, through audio and visual educational content.

The edtech pivoted from ScholarX in 2016. Founded by Bola Lawal, Damilola Emuze, and Maxwell Ogunfuyi, it went beyond teaching students to helping them gain access to scholarships.

LearnAm currently provides an environment for learners to acquire digital skills, personal improvement and vocational skills. Students can take courses in Yoruba, Igbo, Hausa, English and Pidgin languages, receive free learning resources and materials, after which they receive certificates.

Internationally, young Africans are cutting their teeth and putting smiles on the faces of people back home with their dexterity in the booming entertainment industry and the recognition that comes with it. The same can be said of sports and fashion; Africans are taking the lead.

Africa is home to many natural resources like oil, gold, diamonds, and ores; such that many technology giants like Apple Inc. rely on Congo’s supply of tantalum, tin, tungsten, and gold; the metals that are used in smartphones, batteries, and laptops.

Even though this implies that Africa has enough resources to supply the world, a new order is fast taking the place of natural resources – DIGITAL TECHNOLOGY.

The digital tech ecosystem in Africa is on an onward movement; it is a moving train that cannot be stopped because, despite the odds that Africa has been faced with, youths, comprising 70% of the continent’s population, are changing the face of several sectors, including banking and finance, health, education, agriculture, hospitality, and so on, with innovations that were not available about a decade ago.

This new order is changing the way we approach life and, gradually, digital technology is becoming the new gold, diamond, and even oil that we, as a people, have relied on all these years to generate revenue and drive our economies.  We hear and believe data is the new oil.

According to Techspace Africa, Disrupt Africa, and Rwanda’s The New Times, African startups passed the US$2 billion mark in investment for the first time, up from US$701,460,565 achieved the previous year. The number of funded startups grew by 42.1 percent in 2021 despite the terrible effect of the COVID-19 pandemic on the global economy in 2020.

This result indicates the many positives that the industry is set to achieve in the near future, just as the industry is projected to record significant growth, estimated at $712 billion by the year 2050.

Despite the interest of young Africans in the digital tech startup ecosystem, there are factors posing threats to existing and emerging startups in Africa. But as we say, even in our most challenging times, WE MOVE.

The Nigerian Angle

Nigeria has one of the continent’s fastest-growing startup ecosystems, according to StartupBlink‘s ranking of Africa’s top tech ecosystems in its Global Startup Ecosystem Index, 2021.

Like in music, sports, and many other sectors, Nigerian youths are dominating the digital tech space, ranking Nigeria as one of the countries that are tackling problems in these sectors through innovative solutions made possible by the adoption of technology.

With the success stories of Andela, Autochek, Kuda Bank, ULesson, Bloc, and several others already written on the pages of history, the Nigerian digital tech startups are faced with myriads of challenges from electricity to funding, internet penetration to regulation. But each time our resolve is tested, we always find a way to surmount the challenge; that is the hallmark of being a Nigerian.

Roadmap to Glory

No doubt, Nigeria has the potential to be a world leader in the digital tech ecosystem. But to achieve this, we must lay a solid foundation, and this begins by having not just a peripheral but deeper knowledge of what digitization is, the benefits thereof, and the infrastructure needed to achieve digital transformation.

Simply put, digitalization is the utilization of technology to enhance our daily activities such that difficult operations across various sectors are much more simplified. The transformation in the Nigerian banking system is an example of the importance of digitalization and the advantages that come with it. Today, you can perform banking transactions from the comfort of your home or on the street.

Infrastructure, on the other hand, is the technology hardware, network resources, and services that are required for us to achieve the objective of a digital society. They include network equipment like routers, computing hardware such as servers and basic software, facilities like data centers, computing and application platforms, and more.

Having stated the above, a digital economy is important, but having the infrastructure to power this is much more important.

The application of Artificial Intelligence (AI), accelerated wireless connectivity, and the spread of relatively inexpensive computing systems mean that the tech ecosystem can offer a faster and more efficient world for businesses and other activities that will improve the Nigerian business environment as many companies have adopted the use of digital technology.

At this point, it is crucial to note that while startups see their innovations as disruptions, policymakers in the system may see these innovations as displacements. This implies that the innovations of startups are here to enhance productivity, provide further solutions, and make life generally easier; which adds and should not subtract.

But policymakers may perceive the strides of these startups as displacing already existing structures and functioning paradigms.

The key to ensuring that these paradigm shifts do not lead to a dysfunctional ecosystem or adversely impact the economy is that both practitioners and policymakers within the ecosystem engage and collaborate to develop dynamic policies and regulations that will increase innovation whilst managing the potential displacement.

The above is why founders and other tech enthusiasts should play an active part in governance. This is because the Nigerian digital tech space must get true representation at the highest level of governance and make room for the passage of laws that will cause it to continually thrive.

An example is the Nigeria Startup Bill (NSB) that was recently passed by the National Assembly.

The Bill will ensure that Nigeria’s laws and regulations are clear, well-planned, and beneficial to the tech industry. It will also help create an enabling environment for growth and attract and protect investment in the tech space. Key to its success would be the quality of implementation and complete sub-national adoption. 

A digital economy is driven by a technologically exposed society where every man, woman, and child is tech-savvy. We need to review our school syllabuses at the elementary, secondary, and tertiary levels and even in the mandatory one-year youth service corps (NYSC).

We need to ensure that at the elementary level, which is the foundation of all learning, computer science is integrated because if we succeed at creating computer whizzes at the foundation level, then we will have succeeded in birthing a generation of people that will transform our entire existence and redefine life through technology. 

ALSO READ: [EXPLAINER] 10 Components of the Nigeria Startup Bill 2022

Therefore, the foregoing guarantees that every Nigerian, even those in our villages, will adopt technology and technology-driven teachings that will make Nigeria an advanced nation in the near future.

Every step we take to fix the deficiencies in the ecosystem pushes us to a world of possibilities, where the next big global tech solutions will come from a Nigerian village in Edo, Ekiti, Imo, Benue, or Katsina State. We will not just have smart cities but rather smart villages where integrated technology will create smart schools that will foster quality teaching and learning.

Local markets will be open to the international market because the world is now a global village due to technology integration into our villages.

This will improve the economy of our people and eradicate poverty, which has been a longstanding issue in our society. The level of societal digitization will become the new global poverty line. 

The African digital tech ecosystem will spark the continent’s transformation and build giants among our nations such that our villages and critical sectors will be powered by technology. From Karu village in Nigeria to Akrofu village in Ghana; Doumga, Senegal; Kayonza, Rwanda; Massai, Kenya; Megdaz, Morocco; and Shakaland Zulu village, South Africa; the world is not ready for what Africa is about to unleash on the global tech ecosystem.

Africa is the future the world is waiting for. You have a part to play!

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