The story appears to be changing overnight for some Nigerian internet entrepreneurs. For some reason, they seem to be getting that much-needed attention from investors across the globe.
While we’re still basking in the excitement of ToLet.com.ng’s recent $1.2m funding round, Bilikiss Adebiyi-Abiola, CEO of Wecyclers, a recycling company in Lagos, just got an offer from an international investor that is too good to turn down.
The offer was made by Eric Guichard during a live recording of Business Daily hosted by Didi Akinyelure. Bilikiss Adebiyi-Abiola was speaking about the challenges of running a waste management company. “As a business, we’ve been working for about four years now and literally spent about a year putting together investment proposal for investors. And I know that investors are naturally very risk averse,” she said.
Eric Guichard shocked the audience with his response saying, “Let me suggest that we will take your business proposal and what we will do is tie you up with a technology company in India. We will grow your asset base, we will issue a 2 to 5 years diaspora bond against those assets that will be backed 50% by the US government through USAID development credit authority.”
Now does it really get better than that? This is a developing story, we will bring you updates as they unfold.
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Nigerian startups raised $17.6m in Q1 2019, 8.5% higher than they did in Q1 2018. Find out more in the latest quarterly edition of the Nigerian Startup Funding Report here.
Lead Venture Analyst at Techpoint. Eager to tell startup stories that offer Nigerians the much needed creative solutions to relate-able problems. Get in touch.