Foremost payment and Financial Technology (Fintech) firm, Remita Payment Services Limited (RPSL), has revealed its strategic vision to establish a startups academy. This revelation was made by the Managing Director, ‘Deremi Atanda, during his participation at the 2023 Africa Startup Festival held in Lagos, recently.
According to him, the vision is to empower aspiring entrepreneurs with a comprehensive and intentional curriculum, providing practical skills essential for success in the dynamic business landscape.
Through this initiative, Remita is not only simplifying financial processes but also actively cultivating an enabling ecosystem for startups to flourish and drive Africa’s prosperity.
“Over the years, RPSL has remained dedicated to assisting startups, with the overarching goal of fostering growth and sustainability within the African tech ecosystem. Building on this commitment, this forward-thinking initiative comprises four key components, offering solutions, partnerships, consulting services, and capital to support the growth of startups”
He explained that this forms a crucial part of the organisation’s strategy for the midterm plan of the startup academy as it continues to support for budding entrepreneurs as vital enablers for advancing Africa’s development that guarantees sustainable business ecosystem.
The Africa Startup Festival is an annual gathering of entrepreneurs, investors, and industry experts to collaboratively explore the nuanced challenges, solutions, and inherent opportunities within the African business environment.
At a panel session titled ‘Building Fintech Solutions: A Reality Check’ ‘Deremi Atanda said, “Launching a startup demands precision that goes beyond innovation; it necessitates a deliberate understanding of the business landscape and regulatory intricacies.
“Entrepreneurs must intimately acquaint themselves with industry regulations and market dynamics before starting their journey. This intentional groundwork not only ensures compliance but strategically positions startups for sustained success in the dynamic realm of business, providing a roadmap to navigate challenges and capitalise on opportunities with precision.”
Emphasising the importance of resilience amidst the challenges inherent in the entrepreneurial landscape, Peace Obule, CEO, DebtRecuva, noted that expanding a business goes beyond merely attracting investors, although that remains crucial, but business owners must exhibit persistent tenacity, enabling them to transform accompanying obstacles into opportunities.
Managing Partner, Beta Ventures, Ike Eze stressed that, for entrepreneurs to create market value, they must possess distinctive knowledge that sets them apart from competitors within the industry.
In a remark, Consul General, US Consulate in Lagos, Will Stevens alluded to a recent trend indicating that more than 80% of Nigerian startups opt for incorporation in the United States, potentially influenced by factors like access to a strong investment ecosystem and global market exposure.
However, demographic projections indicate that the working-age population in Africa is expected to surpass one billion by 2050, constituting a considerable labour force in need of employment. This substantial demographic shift presents both opportunities and challenges for economic development, emphasising the necessity for strategic planning to tap into the potential of this expanding workforce.
