Mall for Africa partners 500 Startups to drive innovative entrepreneurship in Nigeria

In line with its support for technology start-ups in Nigeria,  Mall for Africa has partnered 500 Startups to drive innovation among small businesses while attracting creative foreign start-ups.

Hence Mall for Africa, Africa’s leading international e-commerce payments platform, has lent its support to the Geeks On A plane Initiative, powered by 500 start-ups.

Speaking at an interactive dinner to welcome 500 Startups, which is an American organisation, Tope Folayan, co-founder and chief executive officer of Mall for Africa, noted that the visit was long overdue as everyone had long since realised the potential of the Nigerian market.

“This is Silicon Valley is meeting us (Nigeria) in an expansive, new way; 500 Start-ups’ Geeks On A Plane (GOAP) Africa tour goes about the globe seeking entrepreneurs to invest in, especially those sure to succeed in the e-commerce space,” explained Folayan.

Folayan also advised the relevant national regulators on the need to provide an environment conducive for effective business growth.

He appealed to the government to redouble efforts by providing excellent support infrastructure in terms of friendly regulations and ease of obtaining permits, provision of power and other affiliated support systems.

Mall for Africa says it believes in the African youths and the ability of entrepreneurs to leverage on technology to transform industries.

The 14-day African tour began in Lagos, through Accra to Johannesburg and Cape Town, in South Africa.

It is targeted at technology companies that are getting started with two to five personnel, and 500 Startups plans to splash $1million on about 37 start-ups within the year, says the CEO, Dave McClure.

Mall for Africa operates in Nigeria, Kenya, Ghana, the United Kingdom and the United States.

500 start-ups is one of the top global business accelerators based in the U.S. It  berthed in Nigeria amidst wide applause and excitement from among the Nigerian business and investment communities. It is noted across the world for its core investments in innovative entrepreneurs with bias for financial services and technology and for economic growth. The brand is also setting a foothold on African soil for the first time.