Enugu was once known for its successful coal mining industry during the colonial era, but as technology becomes increasingly intertwined with life across Nigeria, the city is becoming a vibrant startup ecosystem.
Unlike major startup hubs in Africa like Lagos, Cairo, or Nairobi, Enugu’s tech community is budding, but its growing pool of entrepreneurial talent and strategic government initiatives that support the ecosystem are set to make it one of Africa’s most innovative cities.
Ikechukwu Ezeanih, founder of Speedit, a logistics startup in Enugu, says, “The ecosystem here is as small as it is thriving, with a potential to compete with other big tech companies and startups in Nigeria and the world at large.” To buttress this point, here are the startups building innovative solutions in Enugu.
Xend Finance
Xend Finance is a fintech founded by Ugochukwu Aronu and Chima Abafor in 2019. The fintech offers a decentralised finance (DeFi) platform that enables credit unions and cooperatives to protect their members’ savings from currency devaluation by converting local currencies into stable cryptocurrencies.
By leveraging blockchain technology, the platform offers users the ability to earn up to 15% annual percentage yield on their savings. It also allows the creation of digital cooperatives, eliminating geographical and liquidity constraints.
The startup gained early recognition by participating in the Google Launchpad Africa accelerator and the Binance Incubation Programme. Since then, it has secured over $2 million in funding from notable investors, including Binance Labs and Google Developers Launchpad.
In 2021, the company signed a credit union partnership with a software service provider, TechFusion Africa, and its 5,000 members. With over 100,000 users, the fintech expanded its services to users in Ghana and Kenya, intending to increase its user base to 500,000.
Arone Energy
Arone Energy was established in 2018 by Emmanuel Ezenwere, with a focus on providing stable and affordable electricity solutions to Nigerians. The company develops “Powerhubs,” which are innovative power solutions designed to offer reliable electricity, particularly in areas with limited or no access to the national grid.
The Powerhub is a light cube-like unit that can be charged by solar power, generator, or electricity and can offer uninterrupted power supply to homes and businesses.
Arone Energy has participated in several accelerator and incubator programs and, in 2022, raised $13,600 through one of such incubators.
Greenage Technologies
Greenage Technologies is a renewable energy startup specialising in the local manufacturing of solar energy components, including charge controllers and inverters.
The company was founded in 2017 by five students from the University of Nigeria, Nsukka, including Aaron Esumeh and Okereke Kingsley.
In 2019, Greenage Technologies won the joint US African Development Foundation (USADF) All-On organised Off-Grid Challenge, receiving $100,000 in funding.
In 2022, the company also secured a $450,000 investment from All-On, a Shell-funded impact investment firm, to expand its manufacturing capabilities. They have also received funding from Genesys Tech Hub and Nigeria’s South South/South East Angel Network (SSE Angel Network).
Wicrypt
Wicrypt is a blockchain-based Wi-Fi sharing network that enables users to earn money by sharing their internet connections. Users can provide Wi-Fi through their mobile devices and earn money.
The startup was founded in 2018 by Ugochukwu Aronu and Chidozie Ogbo,
In 2021, Wicrypt raised $1.5 million in a funding round led by AU21 Capital, with participation from investors like Sandeep Nailwal and Cardano’s Occam.
The company has also received several small grants, including a $15,000 grant from Kin Foundation and a $5,500 grant from the Nigerian Communications Commission.
The Enugu state government continues to act as a catalyst for the growth of startups in the state with the Enugu SME Centre and the Enugu Startup Bill. With a combination of projects like the Enugu Innovation and Outsourcing Hub and the government’s US$10 million Startup Seed Fund, the bill is designed to make Enugu globally competitive.
At the Lagos Startup Expo 2.0 coming up between June 18 and 19, 2025, innovative startups like these will be on display. They will showcase the innovative solutions they are building and how you can be a part of it. Click here to be a part of this event as an exhibitor or an attendee.
