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East Africa Frontline News

NextFrontier Africa is a media platform spotlighting Africa’s emerging opportunities in technology, tourism, aviation, agriculture, health, logistics, real estate, trade, education, and e-commerce.

May 26.2025

2 Minutes Read

Why Lagos Leads the Global Tech Rankings: Insights for E-commerce and Trade

Lagos city skyline with high-rise buildings in overcast weather, showcasing urban growth.

How Lagos Became a Global Tech Powerhouse

Lagos, Nigeria, has claimed the title of the world's top rising star in technology, following a remarkable 11.6-fold increase in enterprise value, reaching $15.3 billion. This surge is attributed to the emergence of five unicorns, cementing Lagos's position ahead of 287 cities from 69 countries in the Global Tech Ecosystem Index.

The Rise of Local Innovation

In just 2024 alone, startups within Lagos raised $158 million, showcasing the city's potential to outpace other African tech hubs such as Johannesburg and Kampala. Lagos is now viewed as a key player on the global stage alongside cities like Istanbul and Mumbai - all positioning themselves as future leaders in tech innovation.

Investment Spearheading Growth

Yoram Wijngaarde, founder of Dealroom, emphasizes that the city's first unicorns serve as vital examples for aspiring entrepreneurs, illustrating that major global tech firms can thrive in Lagos. However, for this momentum to continue, access to venture capital, skilled talent, and a solid regulatory framework will be crucial, especially in pivotal sectors like fintech and mobility.

Challenges Ahead for Sustained Development

Despite these advancements, industry leaders like Ayotunde Alabi from Luno Nigeria express concern about the obstacles that remain. Alabi points out that addressing infrastructure challenges—like electricity and improved broadband penetration—is essential for sustaining this growth. Additionally, enhancing digital literacy and fostering collaborative policymaking among local regulators can drive the ecosystem toward more sustainable practices.

Opportunities for Trade and E-commerce

For exporters, importers, and e-commerce businesses, this vibrant tech landscape presents significant opportunities. As the African Continental Free Trade Area (AfCFTA) strengthens intra-African trade, businesses in Lagos stand to benefit, paving the way for innovative solutions that cater to cross-border demand. Investing in the tech sector in Lagos signifies tapping into a growing digital economy that can facilitate trade across the continent.

With continuous innovation and collaboration, Lagos is set to redefine trade and commerce in Africa, laying the groundwork for a prosperous future in the global tech arena.

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Why Lagos Leads the Global Tech Rankings: Insights for E-commerce and Trade

How Lagos Became a Global Tech Powerhouse

The Rise of Local Innovation

Investment Spearheading Growth

Challenges Ahead for Sustained Development

Opportunities for Trade and E-commerce

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