Mark Zuckerberg to visit Nigeria, Facebook’s largest African market

Hamilton Nwosa
Writer

Ad

Unknown Facts About Olufemi Oluyede, Waidi Shaibu, Other New Security Chiefs

By Abiola Olawale ​President Bola Tinubu's recent shake-up of the security architecture, which saw the appointment of General Olufemi Oluyede as the new Chief of Defence Staff (CDS) and Major-General Waidi Shaibu as the Chief of Army Staff (COAS), has dominated headlines. While their appointments signal a major shift in the nation's security strategy, many…

Tinubu Hails Nigeria’s Exit from FATF Grey List

By Abiola Olawale President Bola Ahmed Tinubu has hailed Nigeria’s formal removal from the Financial Action Task Force (FATF) list of jurisdictions under increased monitoring. This is as the President hailed the development as a "major milestone" and a "strategic victory" for the nation's financial integrity. ​The New Diplomat reports that FATF, a global financial…

Trump’s Sanctions Light a Fire Under Oil Prices

Oil markets roared back to life after Trump’s sanctions on Russia’s top oil producers sent prices surging. Trump’s sanctions on Russia’s top oil firms have cut short the past weeks’ downward pricing movement, with stories of record high crude on water, flattening backwardation curves and weakening Chinese SPR purchases now all put on the back…

Ad

Mark Zuckerberg, founder of Facebook, is visiting Nigeria for a few days. Zuckerberg says he’ll be “meeting with developers and entrepreneurs, and learning about the startup ecosystem in Nigeria” during his time in Lagos. In line with this, Zuckerberg’s first notable stop was at Co-Creation Hub (Cc Hub), in Yaba, Lagos’ Silicon Valley-style ground zero for start-ups. Over the years, Cc Hub has served as a start-up incubator and accelerator, housing successful start-ups such as BudgIT, a civic enterprise which focuses on accountability and transparency in government budgets. While at Cc Hub, Zuckerberg also met with young kids attending a summer coding camp.

Zuckerberg watching on at a Cc Hub session of a summer coding camp for kids. (Idea Engineers)

Tomorrow, Zuckerberg is expected to host a Q&A session sharing Facebook’s strategic plans in Africa’s largest economy. Though the visit is part of a series of global town hall meetings, Facebook’s strong ties with Nigeria cannot be ignored. With 16 million people visiting the social media platform monthly, Nigeria remains Facebook’s biggest market in Africa. In a bid to further grow that market, Facebook launched its FreeBasics service in Nigeria in May. Targeting a bulk of the population who cannot afford internet access, the service will allow users to access Facebook as well as other listed websites at no cost.

For his part, Zuckerberg has also given several nods to Nigeria over the past year, acknowledging the work of start-ups like BudgIT and job listing service, Jobberman. Most recently, the Chan Zuckerberg Initiative (CZI), founded by Zuckerberg and his wife, led a $24 million investment round in Andela, a Lagos start-up that trains and outsources local software developers.

The first major investment by the foundation, it was heralded as a big bet on the future of African tech. But just as the news was met with excitement locally, controversy soon followed. Nigerian tech enthusiasts were upset with the description of Andela as a New York company, and Iyin Aboyeji, the Nigerian co-founder of Andela, hardly mentioned in the press coverage that followed the investment. At the time, Aboyeji attempted to stem the criticism via a blog post explaining the company’s origins but two months later, he announced his departure from Andela to start Flutterwave, a new payments company. Zuckerberg visited Andela’s Yaba campus today.

Seni Sulyman, director of Andela Lagos said Zuckerberg’s visit “reinforces not only his support of Andela’s mission, but his belief that indeed the next generation of great technology leaders will come out of Lagos, Nigeria and cities across Africa.”

Ad

X whatsapp