Experts have expressed concern over Nigeria’s tech industry, especially in the area of insurtech and healthtech
They spoke during a discussion titled, ‘The Future of Money: Prospect for Equity Capital Raise in Nigeria’ during the Association of Issuing Houses of Nigeria’s Award Night held in Lagos.
The discussion was chaired and moderated by the Publicity Secretary of the Association of Issuing Houses of Nigeria/Head of Investment Banking for Africa Regions at RMB, Chidi Iwuchukwu.
The experts raised questions over some of the steps taken by the industry to compete with other sectors.
According to them, the increase in tech startups in Nigeria has remarkably increased the demand for equity capital in the form of private equity and venture capital investments from foreign investors, most of which are not facilitated by Nigerian issuing houses, hence the dearth of equity in their activities.