Flutterwave Leads Top Nigerian Brands That Became Globally Renowned in 2022
- Nigerian companies have become some of the best names in the world after getting funds
- The companies which began in humble neighbourhoods will go on to emerge as top brands globally
- From Andela, Africa’s own Github to the now globally renowned Flutterwave, firms from Nigeria making global impacts
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Nigerian companies, primarily driven by entrepreneurs, have made a huge global impact in 2022 with stories that have humble beginnings.
From startups that began with young people trying their hands on things that would improve ecosystems in the country, these companies, most of which have gone on to become unicorns charted courses for themselves and others.
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Most of the companies are mainly concentrated in the financial services sector.
These companies, which have notched top deals from venture capitalists, are globally recognised by top rating agencies.
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Below are some Nigerian brands with global roots.
Andela, Nigeria’s Github with huge tentacles
In August 2021, Andela, the Nigerian startup helping companies build engineering teams, announced its global expansion plans, including significant growth of engineering talent in Latin and South American countries.
The tech company that began at Yaba, Nigeria’s own Silicon Valley said that it is reaching out to new regions that would allow its clients to harness regional expertise that can support their international growth.
The tech company has a stellar record of connecting remote engineers with opportunities from businesses across the world.
It collaborates with engineers from over 80 countries across six continents with its clients having access to a global network of talented engineers.
The company describes itself as a magnet for global engineering talent and in 2021, Andela expanded into Brazil, Mexico and Argentina.
According to the company’s CEO, Jeremy Johnson, the future of work is now and the present expansion continues the firm’s march to bringing engineers together.
Flutterwave, riding the waves to become Africa’s first unicorn
2022, can truly be described as the year Nigeria’s payment company, Fluterwave came of age in all ramifications.
Flutterwave became Nigeria and Africa’s most valuable company at over $3 billion.
The company overcame blisters of pernicious criticisms both at home in Nigeria and abroad to steady the ship and continue to become one of the world's biggest payment firms.
It was riddled with accusations of insider trading by ex-employees who accused the founder, Gbenga Agboola of impropriety.
Flutterwave continues to weather the storms notching up various deals, snapping top talents to head and expanding its operations across Africa and around the world.
But the firm has not found it an easy ride in Kenya where its operations came under intense scrutiny by regulators who accused it of money laundering and illegal operations.
Flutterwave said its woes in the East African country are borne out of envy and a lack of true understanding of its operations.
The Kenyan central bank froze several bank accounts linked to Flutterwave.
But while the company fought to clear its name in Kenya, it announced plans to expand to Tanzania.
Reports say that Flutterwave has an infrastructure reach in over 34 African countries, including Nigeria, Uganda, Kenya, and South Africa, and will be looking to open an office in Tanzania’s capital of Dar Es Salam.
Through its products and services, Flutterwave also wants to help SMEs in Tanzania overcome challenges presented by the highly fragmented and complex payment and banking infrastructure. According to Statista, the transaction value of e-commerce in Tanzania is projected to reach $907m in 2022 with expected users estimated at 14.2 million by 2025.
Fluterwave also obtained a license from Nigeria’s central bank to operate a super agent payment service in the country.
The choice of Tanzania is strategic.
Tanzania has the fourth-largest e-commerce consumer base in Africa with the number of online shoppers estimated at about 1.5 million according to the United Nations Conference on Trade and Development (UNCTAD).
MTN, Zenith Bank, Flutterwave, and others top list of Legit Business Names of 2022
Legit.ng reported that for the first time ever, Legit.ng awards the most influential trailblazers and innovators in Nigeria.
Legit Business Names of 2022 is celebrating top personalities across different sectors of business who have made tremendous impacts in Nigeria in the year in review. Legit Business Team compiled the list to inspire Nigerian entrepreneurs to challenge their limits and achieve new heights in 2023.
Our editors have reviewed the activities of top personalities across sectors, including startups, fintech, telecoms, transportation and real estate, considering achievements and milestones that will inspire our readers.
Source: Legit.ng
