Nigeria, not Kenya, is about to become Africa's next big technology hub

Konga, an e-commerce site, is a Nigerian tech pioneer. (Reuters/Akintunde Akinleye)

There’s too much money in Nairobi.

That’s one way to explain why some venture capitalists are setting their sights elsewhere.

Largely off the back of M-PESA, the hugely successful mobile money-transfer system, the Kenyan capital has gained a reputation for technological innovation—and with it an influx of no-strings (or few-strings) development funding that has crowded out some of the private investment searching for tech startups to finance.

Read more: Nigeria, not Kenya, is about to become Africa’s next big technology hub – Quartz.