Africa's Tech Enablers - Can they lead the way?

The investment climate for Africa’s tech sector has been booming over the last five years. WeeTracker estimates that $1.3 billion were invested in African tech companies in 2019 compared to just $200 million in 2015. As investors grew more comfortable backing African startups, we saw booms across key sectors such as fintech, agritech and mobility and in core markets including Nigeria, Egypt and Kenya.

It is unclear how Covid-19 might impact the momentum building in Africa’s tech ecosystems. The early signs are mixed. Briter Bridges has reported that African startups raised $350 million in Q1 2020 compared to $300 million in the same period last year. However, with Covid-19 hitting economies hard from March funding for African startups could fall by as much as 80% this year.

And yet Africa’s tech sector will form an integral part of the Continent’s recovery. From healthtech providing safe access to tests and PPE to edutech building new platforms for learning outside the classroom, from fintech building new financial products to e-commerce ensuring consumption can continue safely. These innovators will have key role to play in diversification and job creation for post-Covid economies.

Over the last few months, Invest Africa has been speaking to the Continent’s leading entrepreneurs about the market creating businesses they have built, how they have responded to the pandemic and their hopes for the future of Africa’s tech ecosystem. Enjoy some highlights from the series below. 

Chijioke Dozie | Carbon

Ife Oyedele II | Kobo360

Vivian Nwakah | Medsaf

Sim Shagaya | ULesson