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  • Top 5 Nigerian startups that made big impacts in 2020 Written by Nurudeen Lawal
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    Updated 17 hours ago

    The year 2020 was a very challenging one, not only for Nigeria but the entire world. The coronavirus pandemic did not only cause a health crisis, but it also brought the global economy to its knees due to some drastic measures introduced to contain the virus.

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

    Some Nigerian startup companies who made significant impacts in 2020. Photo credits: @PiggyBankNG, @LifeBankCares, @paystack, @uLessonApp

    However, amid the gloomy situation, some Nigerian startups provided an encouraging shining light.

    These startups provide solutions ranging from education to health, online payment, savings and financial literacy, among others.

    The startups did not only provide employment but also help boost the economy by attracting foreign investments.

    Legit.ng highlights some of the startups which made unique impacts in the year 2020.

    1. Paystack

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

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    In October 2020, a US payment-services giant, Stripe Inc, acquired Paystack to jump-start its expansion in Africa in a mouth-watering deal worth $200 million.

    2. LifeBank

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

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

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

    3. uLesson

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

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    uLesson leverages best in class 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 a future in various disciplines and subjects.

    uLesson creates personalised learning experiences for learners in junior and senior secondary school to encourage their deep and continued learning, content engagement and monitor their own path to academic 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 centres in Africa. The startup enables millions of Africans to access the internet through its solar-powered towers in Nigeria and provides residences and businesses with price-friendly unlimited high-speed broadband internet; covering Lagos, Ogun, and Rivers states in Nigeria.

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    5. PiggyVest

    PiggyVest is a cool startup that helps Nigerians to manage their wealth more effectively through specialised saving and investment options.

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

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

    This is evident in the massive investment in a new agro-industrial park set to berth in the south-south state.

    The facility is expected to astronomically increase the internally-generated revenue of the state.

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    Source: Legit

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