UAE seeks tech collaboration with Nigeria

Tech Collaboration
Tech Collaboration

The United Arab Emirates has expressed its willingness to collaborate with the Nigerian government to support the development of its burgeoning tech startup ecosystem. This announcement was made by Khalfan Belhoul, the Chief Executive of the Dubai Future Foundation, on Sunday during the ongoing GITEX Global, the world’s largest startup and investor show, in Dubai. Belhoul, who spearheads the UAE’s smart city strategy across five strategic business units, emphasized the importance of fostering innovation and establishing partnerships to drive growth in the digital economy.

“There are a lot of inventions in Nigeria, and more can be done.

We are very much open to collaborations in terms of technology development, but it’s about having the right conversations,” he noted. He also acknowledged the robust size of Nigeria’s startup ecosystem, with some companies already expanding into the UAE region.

“The startup scene is developing, and there is a lot of potential.”

Belhoul’s comments come as Nigeria is positioning itself as a key player in Africa’s digital transformation. With a vibrant tech startup culture, the country has attracted significant investments in fintech, e-commerce, and other technology-driven sectors.

Tech collaboration with Nigeria

Key areas include fintech, healthtech, agritech, and edtech, with Lagos emerging as a major hub, housing over 400 startups. Nigerian startups attracted 35 percent of the $466 million in total funding secured by the African tech sector between January and March 2024. According to a report by ‘Africa: The Big Deal,’ which monitors deals announced by startups on the continent, Moove, a Transport Tech startup, accounted for two-thirds of the funding directed to Nigeria in the first quarter of 2024.

Data from The Big Deal further indicates that over the past five years, from 2019 to 2023, Nigerian startups received the largest share of funds raised by African startups, making up 29 percent of the $15 billion in total investments. In response to the migration of African talent to Dubai, Belhoul underscored the need for increased investment in research and development and talent development to ensure the long-term sustainability of startups. “There has to be investment in R&D and talent development,” he said, highlighting these as critical factors for sustaining growth and competitiveness in the digital economy.

The UAE’s openness to partnering with Nigeria aligns with its broader ambition to become a global hub for innovation, leveraging its established infrastructure and business-friendly environment to attract entrepreneurs and investors. GITEX Global runs from October 13-18, 2024, and is recognized as the world’s largest and most trusted tech and startup event.

Maya Johnson

Maya is the editor-in-chief of KillerStartups.com. She provides value to early-stage entrepreneurs through content and her weekly newsletter. Reach her at maya@killerstartups.com

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