Why are Nigerian founders forming their companies in the US?

Outside of the US 🇺🇸 and India 🇮🇳, Nigeria 🇳🇬 accounts for one of the largest numbers of companies registered in the US within the last 5 years.

At Kwanza, 99% of companies we’ve helped register in the U.S. were started by Nigerian 🇳🇬 founders.

In 2021, Stripe Atlas noted in their report that “…some of the places where we’re seeing the fastest growth are Nigeria 🇳🇬 (400% year-over-year), the United Arab Emirates 🇦🇪 (165%), and India 🇮🇳 (66%).”

Another provider Firstbase said, “In 2022…with a booming tech startup scene (especially in payments and B2B), Nigeria is one of our fastest-growing countries.”

So why are more Nigerian founders incorporating their companies in the United States than in any other country (aside from Nigeria)?

There are a number of reasons for that but the biggest is Capital 💰.

This Friday I’ll be diving deeper into the single most important reason why Nigerian startup founders are incorporating their businesses in the US in my newsletter.

✅ Get it in your inbox here: https://lnkd.in/eeurXm3R ⛷ 🏇