Investors in Nigeria

Last week LinkedIn went public meaning they open their company for outside investors to invest in it. The upward movement of the share price form the first day suggest people's confidence in the company. This make me think of my country Nigeria where stock prices are still largely controlled by a very few. They determine what the majority get to know by buying up media agencies that run advert and PR for them. Angel investor?

Ok, not every business need to be on stock exchange Angel investors can pull the trigger but a simple discussion with Techprenuer reveals that most have gotten horrible stories to tell. In Nigeria investors entrepreneur relationship is seriously inversely related as most angel investor are greedy and looking for where they will get instant 100% increase in investment or they will have all sort of flimsy reason not to invest in a solution provider and all the reason in the world to justify his N5million spend on a car, ceremony or girlfriend. When Sarah Lucy of TechCrunch visited Nigeria it depict that the opportunity Nigerian investor refused to see is now highly sort after by foreign brands like Google, Nokia Blackberry e.t.c Her post on TechCrunch shows that we have what it take in technology o compete across the world. However Nigerian are still loyal to what is true to them in my opinion Govt is not the solution to our problem but Govt is our problem. 

This tells me the equation is about to change and Nigerians are tired of lies from traditional media and they now get thier news sources from the internet thereby everyday blogger can speak the truth on issues. Techpreneurs in Africa are redefining standards from Kenya to Ghana and to South Africa. Africa is the place to be.