Browsing: Tech

By 2030, tech financing in Africa will hit US$90 billion. African governments have a lot to do to reduce the risk of investing in tech startups. www.theexchange.africa

In addition, governments have to make things better for businesses. Currently, tech start-ups have to pay a lot to comply with regulations that are sometimes not clear. These regulations differ in the 54 different African countries which makes it a lot of work for investors to scale faster across the continent. 

To deal with this, leaders in the different African nations need to come up with a common, unified framework that makes it easy to expand into regional markets. 

For things to work much better and faster, there is need to get more people to help each other since ecosystems that have more links are stronger and grow faster. African leaders should work on policies that can enable ecosystem players start a Pan-African tech start-up network to help tech start-ups grow and get better. 

To address these challenges, African governments need to quickly create and implement a digital economic policy that will open and connect economies and create jobs for the continent’s growing number of young people. 

In the East African powerhouse, agriculture insurance startup Pula Advisors was featured on the list for its innovation and impact in using technology to provide agriculture insurance to millions of smallholder farmers in emerging markets.

The firm which was founded in 2014 has used technology products through agriculture insurance and digital agronomy to advise and ensure many farmers adapt to an increasingly unpredictable climate.

“Farmers in emerging markets are the most hardworking citizens of the world yet the most likely to already feel the impact of climate change. The future is in farmers’ hands; they only need the appropriate technology and tools and then they can feed the world,” The firm’s CEO Thomas Njeru said.

Norrsken22 plans on capitalizing on its general partners’ years of experience and investment philosophies to back startups in fintech, MedTech, Edtech, and market-enabling solutions such as B2B marketplaces and inventory management businesses.

Kolbe, whose previous firm Actis backed Egyptian fintech giant Fawry in 2019 as it prepared to go public, said Norrsken would look at Egypt ‘opportunistically.’ 

Deals from the country that may be of interest to the firm will be those planning an expansion into the four markets Norrsken22 is currently keen on, including Nigeria, Ghana, Kenya and South Africa.

The company, founded in 2012, launched its online food ordering platform in 2013. In 2015, it launched its on-demand fast-food delivery app, becoming the first in South Africa to offer this service.

However, in 2020, Orderin officially shut down its consumer business. The brand relaunched last year as a B2B service, following successful projects helping other businesses develop their own delivery services.

The firm has provided delivery services for the likes of McDonalds and Pick n Pay.

As a result of these and other reasons, the region’s economy is anticipated to recover faster than expected, according to the analysis.
Free trade is projected to play a critical role in Africa’s rapid integration into regional and global industrial and value chains during the next 12 months, according to the report
With AfCFTA fully implemented, the World Bank projects that Africa’s gross production will rise by about US$212 billion above the baseline by 2035, with manufacturing exports increasing by 62 per cent and internal trade in manufactured goods increasing by 110 per cent.

Africa is also moving to mechanize agriculture offering another avenue for heavy investment for technology-rich UAE. Investing in mechanizing Africa’s farms also goes to investing in the world’s food security and alleviating poverty, all of which are priority UN Sustainable Development Goals (SDGs). 

Then you have the energy and mineral sectors; Africa, and in particular East Africa, has been the site for the world’s most recent offshore oil and gas discoveries. The potential is immense; however, here we must point out the equally lucrative and much more sustainable opportunity to invest in renewable energy. Africa offers vast expanses of huge wind and solar potential that can be harnessed to power the continent and beyond.