In 2020, Top 5 Nigerian startups that made big impacts

The year 2020 was extremely challenging not only for Nigeria but for the whole world. The coronavirus epidemic not only caused a health crisis, but it also brought the global economy to its knees due to some drastic measures initiated to stop the virus.

The Nigerian economy is one of the most hit as it entered another recession in the last quarter of last year.

Some Nigerian startup companies made a significant impact in 2020.

However, amidst the gloomy situation, some Nigerian startups provided an encouraging bright light.

These startups provide solutions on topics ranging from education to health, online payments, savings, and financial literacy.

Startups not only provide employment but also help boost the economy by attracting foreign investment.

A few startups were highlighted which made a unique impact in the year 2020.

1. PayStack

Paystack is a financial technology company founded in 2015. It provides a platform that helps businesses in Africa to accept payments on their websites or apps from anywhere around the world via credit card, money transfer, and mobile money.

In October 2020, Stripe Inc., an American payment-services giant, acquired Pestac to begin its expansion into Africa in a $ 200 million mouthwatering deal.

2. Lifebank

When Nigeria faced the challenges of low COVID-19 testing, LifeBank was one of the startups that stood up for the nation.

LifeBank is a healthcare and logistics company based in Lagos, Nigeria. It is a health startup that facilitates the transmission of blood from laboratories across the country to patients and doctors in hospitals. It was founded in 2016 by Temi Giwa-Tubosun.

Lifebank has won several awards, including the Jack Ma, Johnson & Johnson Science Africa Innovation Challenge 2.0 Award and the African NetPoint Prize Initiative Award by the 2018 MIT Solve Health Challenge.

3. uLesson

When the COVID-19 lockdown housed students at home for the most part of 2020, uLesson is one of the startups that came to the rescue.

uLesson leverages the best in classroom teachers, media, and technology solutions to create high-quality, affordable, and accessible education for African students.

It has a platform, a mobile app, that allows students to maximize their academic achievement and prepare for the future in various disciplines and disciplines.

uLesson creates personalized learning experiences for learners at Junior and Senior Secondary School to monitor their deep and continuous learning, encourage content engagement, and their own path to educational excellence.

4. Tizeti

Tizeti is a daring startup that aims to provide Africa with affordable and reliable Internet to fast-track the continent's rapid technology and innovation development.

It provides broadband Internet services to densely populated urban centers in Africa. The startup enables Internet access through millions of solar-powered towers in Nigeria and provides residences and businesses with value-friendly unlimited high-speed broadband internet; Nigeria consists of Lagos, Ogun, and Rivers.

5. PiggyVest

PiggyVest is a good startup that helps Nigerians manage their funds more effectively through specialized savings and investment options.

PiggyVest users earn between 5% and 15% interest on savings and over 25% on investments.

In other news, the Delta government is now focusing on the non-oil economy to make the state sustainable.

This is evident from the large-scale investment in a new agro-industrial park set up for berths in the south-south state.

The facility is expected to increase the state's internally generated revenue.

Source: Legit.Ng

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