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- Kenya’s tech industry regulator says Kenyan startups have the potential to drive up to 70 percent of Kenya’s digital transformation.
- However, latest data shows about eight out of 10 Kenyan startups tend to close shop within the first three years of operation.
- Communications Authority CEO Ezra Chiloba says by forming strategic partnerships, startups can receive valuable insights and support for growth.
Despite a majority of Kenyan startups failing to reach three years into operation since launch, stakeholders in the sector maintain that they are key to the country’s digital transition.
According to Ezra Chiloba, the CEO of industry regulator the Communications Authority, startups have the potential to drive up to 70 percent of Kenya’s digital transformation. However, many of them face significant obstacles such as funding and compliance constraints, leading to a high rate of closure within the first year.
Chiloba highlighted that around 80 percent of startups tend …
