Leading tech stakeholders turned out for this year’s edition of Lagos Tech Fest.

The sold-out conference attracted more than 500 attendees nationwide – investors, entrepreneurs, disruptors, venture capitalists, business leaders, and tech enthusiasts alike. Now in its 4th year, the event is a high-caliber Nigeria tech-focused conference, exhibitions, and networking platform. The 2024 edition took place on Friday at the Landmark Event Center, Lagos, Nigeria.

Organized by Eventhive.ng the event addresses critical developments in the African tech ecosystem while uncovering the countless opportunities within the Nigerian and African tech markets. The conversations covered Fintech, DeFi & crypto, Forex, Edtech, payment & banking, insuretech, healthtech, e-commerce, funding & exits, government policies, digital ID & fraud, and more. 

In her keynote address titled, ‘Africa in Focus; Building the Fintech Ecosystem Beyond Borders,’ newly appointed West African Country Manager, Folasade Femi-Lawal (FCA, FCIT, MBA) said, “Fintechs will only prosper over a long term within prosperous economies. We will not give up on Nigeria because our future is bright. Ailin economies like ours will struggle to sustain a healthy Fintech ecosystem over time. But it’s only for a short time. It’s just a phase.”

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What Was New About the 2024 Lagos Tech Fest?

Annually, Lagos Tech Fest provides a veritable platform for discussions and deal-making between leading tech stakeholders. 

To enhance attendees’ experience, the organizers of Lagos Tech Fest introduced new activities to the event. Some include workshops, an executive lounge, an after-party, a CEO forum and an expansive exhibition platform.

These allowed the startups to showcase their capabilities and successes to critical decision-makers. It would also scale their brands’ growth and grant unrivalled market penetration.

Speakers At Lagos Tech Fest

The impressive line-up of speakers at Lagos Tech Fest included Tosin Faniro-Dada, Partner, Breega; Oyin Solebo, Managing Director, ARM Labs, Lagos Techstars Accelerator; Tolulope A. Adeyinka, Fintech Business Development Lead, Mastercard, West Africa, among others.

Conversations revolved around Fintech, Creative economy, AI, Crypto, DeFi, E-Commerce, Public Relations and Forex Trading. A panel discussion that excited attendees was titled ‘VC Funding Is Drying Up – Reality Vs Facade’. 

UrbanGeekz Reporter Stephen Oluwadara at the Lagos Tech Fest that took place on Thursday, February 15, 2024 at Landmark Centre, Annex, Lagos

After years of record-breaking growth, global venture funding crashed in 2023, hitting a six-year low of $248.4 billion. Representing a staggering 42 percent decline year-over-year. 2023 wasn’t much different for African startups, as only four countries raised above $100 million in funding. By comparison, eight African countries raised above that figure in 2022.

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“There’s an auto-reset in venture capital funding globally,” Olanrewaju Olumide, Managing Partner at Acuity Partners, who was one of the panelists, asserted. Since only real businesses offering real value would stand the test of time, founders must be honest with the valuation of their companies.

Jude Dike, CEO of GetEquity, said, “Investors want to know that there’s less risk investing in businesses, and founders should be able to show that they have skin in the game.” 

Networking And Dealmaking In Full Flow

In between the insightful panel conversations, keynote addresses and presentations, attendees were given ample opportunity to network. The conference had meeting tablets where attendees met, exchanged ideas, and closed deals.

Over the years, Lagos Tech Fest has built a track record for introductions to investment, customers, talent, M&A activity, mentorship, and dealmaking. The 2024 edition was no different in this regard. 

An attendee, Rosemond Phil-Othihiwa, said, “I had an incredible time at the Lagos Tech Fest connecting with several startups and their founders and learning as well as speaking to many ecosystem players and individuals.”

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