Browsing: Tech startups

Egyptian start-ups are to benefit from two funds that have been raised early this month from Sawari Ventures which has raised $69 million and $90 million from Algebra ventures.

Algebra Venture an Egyptian venture capital firm announced the launch of its $90 million second fund yesterday after it closed its first fund of $54 million four years ago. Come the close of the second fund, the firm hopes to have raised a total of $144 million, with the first fund closing in the third quarter of 2021. If the venture capital achieves its target, it will most likely have the largest indigenous fund from North Africa.

Tarek Assaad and Karim Hussein, Algebra venture managing directors said that the first fund was mainly focused on Egypt while the second fund will also be focused on Egypt while allocating investments in East and West Africa, Middle East and North Africa. The …

There is no denying that we are at a digital age where information can be accessed by anyone at any place thanks to the advancement of science and technology. We also see that most problems in society are also solved through technology. This has created an opportunity for young entrepreneurs to innovate and come up with different solutions to solve these problems.

In Africa there has been a rise of millennial startups that are digitally-based commonly known as ‘apps’ that have been revolutionizing how we solve our daily challenges. From the inception of M-Pesa to food delivery apps, these all demonstrate that digital technology is the future.

So how can we nurture this industry?

“We have to invest seriously on education and technology. Awareness has to be created on the advantages that can be gained from this space and governments have to allocate necessary resources towards achieving this. For the …