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 …

Eldoret based Tech Hub EldoHub in partnership with Thunderbird School of Global Management and with support from the UK Kenya Tech have launched a Digital Apprenticeship Programme targeting tech professionals.

The programme is aimed at equipping young tech professionals with the necessary skills they need for the job market.

According to Eldohub Founder and Managing Director Magdaline Chepkemoi, the move is aimed at bridging the skills gap in the industry.

“Kenya is known as the Silicon Savannah for numerous reasons and what cements this reputation is her youthful, tech savvy population. Whilst this kind of talent can and should be propelling Kenya’s future, the reality is that many techies lack real work practical experience.  On the other hand businesses that are hiring, want more experienced techies with at least a few years under their belt.  How will these junior techies ever get hired without experience,” she said.

Also read: Kenyan

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 …