• Friday, April 19, 2024
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BusinessDay

Senex enters Nigeria’s market, eyes $8bn global Web3 market

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Senex Group, a multinational conglomerate industries has launched the first Web3 incubator hub in Nigeria to accelerate the development and growth of Web3 technologies which is valued at $8 billion globally in Nigeria and beyond.

Okeoghene Orhosere, chief executive officer at Senex Group speaking at the launch explained that the Web3 industry, currently valued at US$ eight billion is estimated to reach an expected value of $ 94.0 billion by 2030.

Describing the progress Senex Group has made over the years, Osetohame Matthew Agbonyeme, the group’s COO explained that Senex is in business to lift one million Nigerians out of poverty.

“Senex Group is a global multi-industry conglomerate with businesses in finance, blockchain, payments, real estate, security and venture capital.

“We started in 2016 with a mission to eliminate the disenfranchisement of Africans in the global economy by removing the barriers limiting the average African from building wealth.

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We have since evolved into an internationally acclaimed organization with content, products and services that caters to both businesses and individuals across multiple industries,” Agbonyeme said.

Damilare Fakorede, the VP of growth at Senex also added that the Hub is important to Nigeria’s Tech Ecosystem, especially the Web3 sub-industry.

“SenexHub is a business development service providing an outfit with a bias for future technology. We are Africa’s first web3 incubator hub that provides resources and support for startups and developers working on web3 technologies in Africa.

The hub aims to support the growth of the web3 ecosystem in Africa by providing access to mentorship, funding, networking, and other resources necessary to launch and scale successful web3 projects,” he said.

Rikome Erezi, group CTO at Senex, also noted that the company’s hub will provide access to funding opportunities for startups, including grants, venture capital, and other investment options.

“We’ll also provide access to a network of investors, advisors, and other experts in the web3 space who can offer guidance and support to help entrepreneurs grow their businesses.”

The launch event was attended by prominent tech investors, leading entrepreneurs, influencers and stakeholders from the public sector.

This made it necessary for Senex to lead the frontier of Web3 technology acceleration in Africa, starting with Nigeria by launching the Senex Hub in the heart of Lagos.

It is worthy of note that Senex Group, through its subsidiary Senexpay launched the first digital currency wallet built locally by an African company earlier this year.

The conglomerate also boasts of investments in hospitality, real estate, security and global payment