Browsing: 4th industrial Revolution

  • African tech startup funding received $3 billion in 2022, highlighting the growing significance of the industry among potential financiers.
  • Africa’s share of global blockchain funding, however, remains modest, increasing from 0.3 percent to 1.8 percent between 2021 and 2022.
  • Seychelles’ gained $208 million for six deals while and South Africa earned $176.6 million from the same number of blockchain deals.

Blockchain startups in Seychelles and South Africa received nearly all the fresh funding raised in the segment in 2022. A new report shows blockchain startups from the two countries shared 81 percent of the $474 million fresh funding realized last year.

According to the African Blockchain Report 2022 by venture capital firm VC VC, startups in this segment are well within the fourth Industrial Revolution and are projected to play a huge role in Africa’s tech industry.

In 2022, Africa’s tech industry grew significantly as more investors poured millions of

A diamond mine in Botswana. The country is making the big jump into a ‘digital diamond’ economy.

Even though the country knows that diamonds are a finite resource, it still holds the world’s richest mine and is the biggest producer of gem diamonds. The country has become something of a role model for good development, powered by diamond mining.
20 percent of Botswana’s gross domestic product comes from this one commodity.
It propelled the country from the second poorest country in the world in 1966, at US$70 per person per year, to a middle-income country in 2021. Botswana estimates the diamond economy will start dropping in 2030. …

Ashit Shah, KAM Automotive Sector Chair & Mutsimotor Director explains how a Kenyan manufactured ventilator works to Industry CS Ms Betty Maina (R). The PUMUAISHI 2.0, ventilators will be used by local hospitals to fight the covid-19 pandemic.

If there is a gift that the world has given to Africa, it is the internet and with this, the unlimited ways in which to make life easier.

The internet and by extension the technology that comes with it, has helped in moving the continent towards creating solutions for day to day living instead of waiting for parachuted aid.

From getting farm produce to the marketplace to creating solutions that are ground-breaking in the health sector, the internet has enabled and propelled the hitherto jettisoned continent into spaces even the so-called developed countries wish to occupy.

Power outages in Nigeria major obstacle for tech sector growth

Looking at some of the amazing things that the tech space in Africa has created include the world-renowned M-Pesa which has transformed how people transact not only in Kenya but across the continent and globally in different ways and formats.

And as the world

The 4th industrial revolution in Africa. Africa needs to commit to adopting new interdisciplinary approaches that speak to the present and future needs.

Since the turn of the century, Africa’s GDP has grown by 4.6 per cent annually, on average.

Domestic demand has been Africa’s key driver of the growth performance accounting for 69 per cent of annual growth between 2000 and 2018, according to the African Union (AU).

The AU notes that this is reflected in the demand for processed food which is growing 1.5 times faster than the global average. On the other hand, the demand for many other products such as vehicles, manufactured metals and industrial machinery, is expanding faster than the global average.

This makes it a good opportunity for local firms to grow in size and productivity.

Start-ups in Africa

On the tech front, start-ups in Africa have also increasingly emerged with the top three activities relating to information technology and communications (ICT) and internet services; digital applications and software; and the creation of audio-visual content and broadcasting.…