Tomisin Salam

So what’s going on in the African startup, tech & investment ecosystem? Here are a few announcements, opportunities & resources worth checking out. Week 32 (2024) Post #103 Links in 1st comment - reference emojis👇 SPOTLIGHT 🧐 EXIT EXIT EXIT! Ticketmaster, the world’s leading ticket marketplace, has acquired Quicket, a major player in Africa’s Event & Festival ticketing space. Another promising milestone for Africa’s Tech & Venture Capital ecosystem with Quicket being an alumni of South African Accelerator GrindstoneXL & portfolio company of VC firm Knife Capital. We look forward to seeing how the business grows & lessons to be learnt for the wider ecosystem from this successful Exit. NEWS & RESOURCES 🧠 Obuntu Foundation Emerging Fund Managers Class 3 Fellows announced! 🚀 Meet the 10 startups in Google’s 8th Startups Accelerator Africa cohort. 💰 HAVAÍC VC announces first close of $50m African Innovation Fund 3. 🇲🇺 Internationalising Mauritian Startup Ecosystem - IAEF Summit fundings. 😇 Report - Women Angels in Africa: Barriers & Enablers from Viridian (AEEI). 🦸‍♀️ Africa's Business Heroes Announces Top 50 Finalists for 2024 Prize. 🤑 Empower Africa provide snapshot of H1 Funding & its Top Funded Startups. 🌍 Report - Rethinking Development Finance by DLA Piper & Invest Africa Ltd. 🙆‍♀️ Demystifying FemTech & its growth opportunities in Africa from Jaza Rift. PROGRAMMES & OPPORTUNITIES 🏡 Diaspora House launches - Community for Africa real estate investing. 📝 HAVAÍC the Cape Town based VC is hiring for a Senior Associate. 📣 Leading African Podcast & Media House The Flip hiring in multiple roles. 🇿🇦 Lekker Network launches in SA to connect SA founders around the world. EVENTS 📅 6th Aug: Founders Factory Africa - GEN F Mixer in Lagos, Nigeira. 📅 9th Jul: UNCOVERED FUND Nairobi & Japanese Investors & Biz Mixer. 📅 14th Aug: Founders Factory Africa - GEN F Mixer in Cairo, Egypt. 👉 To find out more about Africa Tech & Investment focused events then check out my annual African Tech Events Watchlist - 2024 Edition. 🙏 Ecosystem Ask - Calling all climate leaders and innovators in East Africa! EIT Climate-KIC RIS & Briter are partnering to identify key leaders and change makers in the East African climate entrepreneurship ecosystem. Share your input for the ecosystem map by completing this 1-min survey. 🔥 Person to Follow #67 - Lavina Ramkissoon is a leading African voice in advancing AI and the unification of technology across the continent. An AI and Big Data advisor to the Africa Union, United Nations & GSMA amongst others, she is also a Partner at Aves Lair VC. She is a real builder of bridges between Big Tech, Corporates, Government & Africa’s startup ecosystems. 🎙️ New kids on the Podcasting block! Maria Rotilu of OpenSeed VC & Yvonne Bajela of Local Globe collab to launch The Startup Leap a podcast to hear from exceptional entrepreneurs across Europe & Africa. #Startups #Tech #Investment #Africa

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So what’s going on in the African startup, tech & investment ecosystem? Here are a few announcements, opportunities & resources worth checking out. Week 20 (2024) Post #92 SPOTLIGHT 🧐 As much as we like to celebrate the African tech ecosystem and its growth, we also need to address is challenges & concerns. With investments decreasing into startups and funds themselves struggling to raise new capital, we have to ask is this a global financing problem or an African one? Abdul-Karim Mohamed has looked into how Africa should have generated $20.5B in #Exits from capital deployed over the last decade, but it hasn’t, so what does this mean? No good deals, market needs more time to mature or something else? Read his piece on the topic & see infographic snapshot below. NEWS & RESOURCES 💰 Is Africa’s Dollar Shortage ending anytime soon? By Benjamin Fernandes. 🇪🇬 Accel enters chat - leads $4m Swypex Investment. By Tage Kene-Okafor. 🗂️ Allan Gray Centre for Africa Entrepreneurship Ecosystem Index launches. 🤖 Time for Africa to embrace the power AI - Resilience17 explores. 🌍 Entrepreneurship IN the New Scramble for Africa. By Parminder Vir OBE. 🫰 United Nations urge ‘investment surge’ to solve $4T emerging market gap. 📖 Wimbart chat to Oluwatomisin Amokeoja, Forbes Africa on Africa’s story. PROGRAMMES & OPPORTUNITIES 🟠 Orange Corners Fund Manger Programme open in 🇧🇩🇲🇱🇸🇸🇸🇩🇹🇳🇧🇮🇮🇶. 👨‍💻 HackOps 1.0 for African Dev’s to win $10k + Iyinoluwa Aboyeji Mentorship. 🙋‍♀️ Jasiel & Margaret are back with new Founder Pitch Office Hours sessions. 🤖 Google opens applications for AI Accelerator Africa Programme. 🦸‍♂️ Africa's Business Heroes 2024 Award Competition open for applications. EVENTS 📅 May 13-15th: 3i Africa Summit 2024 in Accra, Ghana. 📅 May 16th: AfriTech Basecamp: Founder & Investor Networking Event. 📅 May 16th: London Venture Capital Network - Investing in Africa Meetup. 📅 May 16-17th: Africa CEO Forum in Kigali, Rwanda. 📅 May 16-18th: RiseUp Summit 24 in Cairo, Egypt. 📅 May 17th: Windhoek Slush'D in Windhoek, Namibia. 👉 To find out more about Africa Tech & Investment focused events then check out my annual African Tech Events Watchlist - 2024 Edition. 🔥 Person to Follow #55 - If TechCrunch is synonymous with telling the story of the global tech, startup and venture capital scene, then Tage Kene-Okafor is the publications man doing that for the African continent. The seasoned journalist was previously at Techpoint Africa & involved with Co-creation Hub (CcHUB). 🎙️ New Media Alert - CNBC Africa’s new series Startup Caps, which aims to champion Africa’s startup ecosystems has just dropped. In E1 they take a look at “Understanding the investment landscape for African startups” with host Tania Habimana & guests David of Boost Africa Technical Assistance Facility, Kola of Ventures Platform Fund, Melvyn of Breega and Evelyn of Lupiya. Links in 1st comment - reference emojis👇 #Startups #Tech #Investment #Africa

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🎯More Global Funding and Market Opportunities for African Startups A few years ago, African founders had limited access to global accelerators, with programs like Y Combinator and Techstars Toronto Accelerator being among the few options. However, the landscape is rapidly changing, with more global accelerators opening doors to African founders. One such example is the **Techstars Washington DC program, powered by J.P. Morgan , which recently announced its latest class of companies. Among the graduates are four African startups, each securing a #$120K investment, with up to #$1M in follow-on funding and #$4M in perks and benefits, including access to JP Morgan's extensive network. The African startups in this cohort include: 1. REXIAL (Uganda) REXIAL automates recurring payments in Africa, allowing bills to be paid directly from customers' bank accounts or mobile money wallets using direct debits. 2. LyfPlus (Tanzania) LyfPlus provides software infrastructure for health facilities, enabling them to develop custom digital health solutions that meet the needs of their patients. 3. Apexloads (Kenya) Apexloads is transforming Africa’s logistics industry by offering innovative solutions that enhance efficiency, transparency, and reliability. Here’s How We’re Bridging the Gap at TechField Africa—and How You Could Be Part of the Next Global Accelerator Cohort Are you looking to join a global accelerator in the next six months to raise your pre-seed investment round? At Techfied Africa, we’ve developed a tailored pathway designed specifically to help African startups gain access to top global accelerators. We’ll match you with the most suitable programs and handle the entire application process across 30+ leading accelerators worldwide. If you're interested, follow the link below to complete the form. We are currently reviewing startups to find the best fit for these opportunities. https://lnkd.in/dmhqVfxa

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So we started Cohort 3 of the Immerse Africa VC Fellowship by Immerse Africa VC Academy last weekend. It was a diverse class with people from different backgrounds. This cohort has a fine blend of startup CFOs who want to know how to navigate the VC landscape for the benefit of their company and VC Professionals who just want to get better at their job. As always, we started this cohort with the VC Business Model. Understanding how VCs think about deals and then we built our VC Fund Return Model and the Management Company Model. As always, we saw that VCs are looking for outsized returns. 3x returns are good, but what you're looking for is 30x or 50x. So the challenge for our VC professionals is that how do they identify the 30x return startups and more importantly founders or founding teams? The question for our startup CFOs - Is your startup the 30x return startup? On Sunday, we went in full time on the the language of finance - Accounting. This is as we prepare to start building our startup financial models from next weekend. Excited about this cohort... already. If you still want to join this cohort, this might be your time before the next class.

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After I wrote about the TechCrunch article regarding exits in Africa, a few people reached out to me for further clarity about exits. In this post, I am going to break down what an exit means in venture capital and the pathways to achieving it. In simple terms, an exit is the process that allows you to "cash out" on your investment to generate returns. There are three main paths to exit for VCs: acquisitions, initial public offerings (IPOs), and secondary exits. However, IPOs appear to struggle in Africa. Acquisitions involve a startup being acquired by a larger company, like WorldRemit acquiring Sendwave for $500 million. Then there are IPOs, where a company lists on a stock exchange. This is often followed by an increase in the share price at the time of listing, and after a period, investors can sell all or part of their shares. Secondary exits occur when investors sell their shares to another investor, possibly during subsequent funding rounds. One reason exits are fewer in Africa is that IPOs as an exit path are almost non-existent. In markets like the U.S., IPOs make up a significant portion of exits, although they still trail behind acquisitions. IPOs are rare in Africa due to underperforming capital markets. The few startups that have attempted an IPO often look to developed markets like the NYSE, as Jumia did in 2019. Interestingly, Fawry, an Egyptian startup, listed on the Egyptian Stock Exchange. In August 2019, Fawry offered 36% of its shares, which were oversubscribed by 30.3 times, making it the first Egyptian startup to reach unicorn status. I think the story of Fawry provides some indication that it is possible. The question then becomes: What were the conditions that made Fawry’s listing possible, what key lessons can be learned, and how can this success be scaled?

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🇳🇬 𝗡𝗶𝗴𝗲𝗿𝗶𝗮 𝘀𝘁𝗮𝗿𝘁𝘂𝗽 𝗠𝗼𝗼𝘃𝗲 𝗲𝘅𝗽𝗮𝗻𝗱𝘀 𝘁𝗼 𝗠𝗲𝘅𝗶𝗰𝗼, 𝗲𝘅𝘁𝗲𝗻𝗱𝗶𝗻𝗴 𝗴𝗹𝗼𝗯𝗮𝗹 𝗳𝗼𝗼𝘁𝗽𝗿𝗶𝗻𝘁 One month after Uber-backed Moove launched in the US, the Nigerian startup that finances #vehicles for #ride-hailing has expanded to #Mexico. The company projects it will become profitable in 2025. The expansion to Mexico marks an important milestone for an #African #startup ecosystem that has, in recent years, faced a tough macroeconomic environment and fundraising challenges that have slowed growth. As focus moves to building for a global audience, Moove’s focus on high-growth markets, its replicable model and partnerships with major ride-hailing platforms like #Uber has positioned it for growth and made it attractive to investors. Its drive towards #sustainability with #EVs also aligns with investors’ continued interest in socially responsible startups. Read more on TechCabal: https://lnkd.in/gq749fGV

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Navigating the Funding Landscape: Strategies for African Startups in 2024 This year has been particularly challenging for startups in Nigeria and across Africa, with the continent experiencing its lowest level of VC funding since 2022. A global funding winter, high interest rates in the United States, and local currency depreciation have posed significant hurdles for the sector. However, this decline in VC funding need not be viewed entirely negatively. It presents an opportunity for companies with strong product-market fit, robust teams, and solid unit economics to stand out, enhancing the ecosystem's credibility. This shift moves the focus away from firms with inflated valuations and unsustainable business models. To thrive during these tough times, consider the following strategies: 1. Prioritize Strong Unit Economics: Focus on metrics that reflect the health of your business rather than vanity metrics. The most reliable funding comes from satisfied customers. 2. Utilize Local Services:To mitigate the impact of currency depreciation, opt for local service providers where possible. 3. Hire Strategically: Be judicious with hiring decisions. It is more costly to fire than to hire, so ensure you bring on team members who are indispensable. 4. Strategic Expansion: While expanding into other African markets can help hedge against inflation, ensure that any expansion is carefully planned to avoid overextension. 5. Prudent Resource Management: Extend your runway by managing resources wisely. Plan any fundraising efforts well in advance to avoid the need for emergency funding, which can be a red flag for investors. As Robert Schuller aptly stated, "Tough times don't last, tough people do." By adhering to these principles, startups can navigate the current economic landscape and emerge stronger. #startups #tech #africatech #techstartups #nigeria

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Build Your Empire. At ODIGITAL Startup Drivers, we've partnered with Tekedia Capital USA, to democratize equity ownership of early-stage, high-growth, tech startups, solving market frictions in Africa, and beyond. We co-invested in a startup in 2020 at $1m valuation, and it's currently valued at $300m. We have another portfolio startup that we funded in 2022, at a valuation of $5m, and is currently valued at $150m. We have a funding round open till May 15th 2024, and we have some of the best tech startup investment deals in the world for you to get your equity, with a minimum of $250 per startup. While traditional investments like company stocks, offer modest gains, co-investing with us, in Tekedia Capital's, early-stage tech startups, gives you access to massive benefits such as: * Exponential Returns: You have access to invest in startups with explosive growth potential. Your money will multiply massively, as innovative ventures in your portfolio scale and disrupt industries. * Delightful Diversification: Your money will work farther for you. You can invest just $250 per startup, and with $1k, build a portfolio of 4 high-potential tech ventures, lowering your risk, and maximizing returns. * Innovation at Your Fingertips: You have the opportunity to grow your money exponentially, drive innovation, redefine industries, and shape the world for generations to come. * Expert Guidance: You have access to our global network of seasoned experts, who provide invaluable guidance and support. * Early Bird Advantage: You have early access to the most promising tech ventures, before they hit the mainstream, positioning you for maximum growth potential. * Impact Investing: You are well positioned, not only to make massive return on investment, but also to deliver impact. You will be supporting innovative solutions to real-world problems, driving positive change, and leaving a lasting impact on society. * Thrilling Ride: You are embarking on an exciting journey, filled with innovation, disruption, and the thrill of backing the next category-king companies. * Global Reach: You have access to a diverse range of tech ventures with global potential, ensuring your investment portfolio remains resilient and growing. * Networking Bliss: You have access to connect with other impact investors, brilliant entrepreneurs, and industry trailblazers. We provide the platform for you to forge valuable connections, and expand your network. * Legacy Building: You have the platform to build a legacy for the future. You have the opportunity to leave a lasting impact on the world, while securing financial prosperity for yourself, and future generations. If you're ready to build your empire of early-stage, tech startups, and unlock your wealth potential, connect with me via comment or direct message, or email - [email protected], or visit - https://startupdrivers.com. Repost and share for the benefit of your network.

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So what’s going on in the African startup, tech & investment ecosystem? Here are a few announcements, opportunities & resources worth checking out. Week 16 (2024) Post #88 SPOTLIGHT 🧐 What is 2.86%? That is Africa’s $3 Trillion share of the $105 Trillion Global Economy in 2023 according to projections from the International Monetary Fund. Yet the total population of Africa is roughly 1.4 Billion which as a percentage is 17.28% of the total 8.1 Billion Global Population. When seeing the disparity between these two stats, it paints a clear picture of the African opportunity. This fantastic visualisation below paints a picture and the link below takes you to Marcus Lu’s writeup on it. NEWS & RESOURCES 🤑 Pan-African VC Verod-Kepple Africa Ventures close first fund at $60M. 🇿🇦 Used-Car platform WeBuyCars eyes $420m valuation with IPO on the JSE. 🎤 Nigeria's musical hits; SA Streaming cash? By Hannatu-Favour Asheolge. 🚜 Is unproductive Agriculture holding Africa Back? Via The New York Times. 🇳🇬 Layoffs & job security push techies to traditional industries? Via TechCabal. 📝 Digital Collective Africa launch African Startup Governance Toolkit. 👋 Anansi Film Fund launches to support African Film & TV creators. 🏆 AVCA - The African Private Capital Association Awards Shortlist Named. PROGRAMMES & OPPORTUNITIES 🇪🇺 Africa-Europe Foundation Award Scheme Calls for Proposals open. 🎮 Africacomicade's Pre-Accelerator for African Game Studios open for Apps. 💁‍♀️  WE4A Funding Initiative for Women Lead Green Business Companies open. 🌍 Mastercard Foundation Africa Growth Fund - launch new funds. 📣 EBAN Congress Tallinn 23 - Apply now to pitch European Investors. EVENTS 📅 Thu 18th - Digital Collective Africa: Governance Toolkit Virtual Launch. 📅 Tue 23rd - London Africa Network Welcome Gathering 2024 in London. 📅 Apr 20 - 26th: JHB 🇿🇦 will host several key Africa Investor Events. 👉 To find out more about Africa Tech & Investor focused events then check out my annual African Tech & Investor Events Watchlist - 2024 Edition. 🔥 Person to Follow #50 - Axel Peyriere is a founder, investor and content creator building for Africa. CEO & Co-Founder of AUTO24.africa the Pan-African online marketplace to by, trade and sell cars. Axel has also invested in dozens of African and other emerging market tech companies. His regularly posts on LinkedIn look to spotlight market opportunities, investments being made and showcasing the wider African opportunity. 🎙️ Stepping away from podcasts this week to the land of big news media! CNBC Africa hosted AVCA - The African Private Capital Association, CEO, Abi Mustapha-Maduakor, CA, MBA for a video interview to provide insights into the investment trends seen across the continent in 2023. Excellent insights distilled down from AVCA’s Annual Investment Activity Report’s. Links in 1st comment - reference emojis👇 #Startups #Tech #Investment #Africa

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At #StartupSouth9 we are providing several opportunities for African Founders to engage with Investors and raise funds. To be successful, Founders need deep insight on how Investors think about funding. ​In this virtual #StartupSouth9 Pre-Event, Michael Ho - former VC and an Exited founder joins us from Ontario, Canada to breakdown how he believes Founders should think about their Fundraising and highlight the major milestones and what should be de-risked at each stage. The best time to think about Exit is at the start of the venture building operations. The same is true about fund raising. ​Don't miss this Session, If you are an early Stage founder looking to raise funds anytime soon - especially as the world gradually emerges out of the funding winter. Date: September 12, 2024 Signup here https://lu.ma/d7k256ld PS: We will be announcing the different #StartupSouth9 Pitch opportunities for Founders at this event. #StartupSouth9 #FundingRounds #TechConference #EarlyStage #SeriesA #StartupInvesting

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So what’s going on in the African startup, tech & investment ecosystem? Here are a few announcements, opportunities & resources worth checking out. Week 30 (2024) Post #102 SPOTLIGHT 🧐 Internet is not just the cornerstone of any thriving tech ecosystem, but seen by many as a basic necessity or even right in society now. Yet within Africa, billions are still without it or prohibited access and quality. So as an infrastructure need on the continent it is a top priority to be addressed and Subsea Internet Cables are the backbone of this requirement. In an insightful article from Emmanuel Paul on Techpoint Africa looked at this challenge and opportunity. Checkout the infographic below of Africa’s Internet Cable highway. NEWS & RESOURCES 🎉 FMO - Dutch entrepreneurial development bank backs LoftyInc Capital. 🌍 Empower Africa insightful set of snapshots on Africa’s populations. 📝 Investors & founders upbeat about African tech? By Alexander Onukwue. 🤑 27four Investment Managers Female Funds Working Capital Awardees. 💡 Digital Collective Africa CVC VC Unconference Report is now available. 💰 Companies in Africa are transforming cost centers into cash by Afridigest. PROGRAMMES & OPPORTUNITIES 🙆‍♀️ Women founders in 🇳🇬🇰🇪🇿🇦 apply to be covered in 'untold stories' by GAA. 🇳🇬 Future Africa are hiring for an Investment Analyst in Lagos. 🇪🇺 ENRICH in Africa - EiA call for Euro & African ESO’s to join network. 💻 African Venture Philanthropy Alliance (AVPA) Conference volunteer call. 🔬 AfriLabs is hiring a Senior Programmes Officer, Location, Pan-Africa. EVENTS 📅 Tue 23rd: How to Angel Invest in Africa Webinar by Stuart Minnaar [Virtual]. 📅 Wed 24th: Baobab Network Demo Day for Cohort 1 [Virtual]. 📅 Thu 25th: HoaQ AMA on The Francophone Africa Ecosystem [Virtual]. 📅 Thu 25-26th: The Africa Social Impact Summit (ASIS) in Lagos, Nigeria. 📅 Fri 26-27th: GrowthCon 2.0 Conference in Lagos, Nigeria. 👉 To find out more about Africa Tech & Investment focused events then check out my annual African Tech Events Watchlist - 2024 Edition. 🙏 Ecosystem Ask - The ABAN 2024 Angel Investment Survey, sponsored by the Dutch Good Growth Fund (DGGF)and supported by Briter and the African Angel Academy (collaborating for the third consecutive year) is ongoing and is looking for you to contribute. 🔥 Person to Follow #66 - Ayanda Siboto is a ecosystem builder and super connector who is currently Program Director for the Africa Early Stage Investor Summit. She is also the Chief Networking Officer for the Beauty Network Africa and previously was Programme Manager at Viridian and for the African Angel Academy. 🎙️ This week on Unlocking Africa Podcast with host Terser Adamu - Episode #130: Fashion With a Purpose: How a Ghanaian Entrepreneur Is Thriving in a Male Dominated Shoemaking Industry with Edna Frimpong. Links in 1st comment - reference emojis👇 #Startups #Tech #Investment #Africa

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Insights from Iyinoluwa Aboyeji highlight critical points about the startup ecosystem in Africa: *Pre-seed and seed investors such as Future Africa are uniquely positioned to capitalize on the funding boom at later stages (Series A-D). *The need for a world-class accelerator program in Africa, such as Accelerate Africa. *The importance of investors/founders who understand context, especially in times of crises, such as the recent funding contraction #FutureAfrica #AccelarateAfrica #VentureCapital

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So what’s going on in the African startup, tech & investment ecosystem? Here are a few announcements, opportunities & resources worth checking out. Week 44 (2024) Post #108 Links in 1st comment - reference emojis👇 SPOTLIGHT 🧐 NBA Africa has revealed the top 10 startups, spanning seven countries, set to pitch at their #NewYork City Demo Day for the Triple-Double: NBA Africa Startup Accelerator. These companies, from wearable tech to AI & eco-fashion, will compete for funding, mentorship & industry access to accelerate growth across the continent's sports, culture & tech ecosystems. Is this an “accelerator” template for how other major global brands & corporates can be a springboard for African talent, startups & opportunities to go global? NEWS & RESOURCES 📊 Read the insights from KPMG’s Doing Deals in Sub-Saharan Africa 2024. 📍 Harry 'Tomi Davies discusses the pain points of scaling in Africa. 📈 Download Wimbart’s Startup Africa Reporting in Africa 2024 report. 🚚 BasiGo raises $24 million to accelerate public transportation electrification. 📖 Read about defining value in African Tech Events from Abraham Augustine. 📱 Dr. ‘Bosun Tijani’s goal to modernise Nigeria’s digital landscape. 💁‍♀️ The Future is Female Mentorship Programme announces 20 finalists. 💬 Leatherback CEO on cofounder misalignment leading to his exit. PROGRAMMES & OPPORTUNITIES 🌍 Briter is hiring a Regional Head for Africa. 💡 Bloomberg’s African Startups to Watch List – Call for Applications. 🚀 ALX Ventures launch free courses for young SA tech entrepreneurs. 🪸 African Climate Tech Fund, Holocene Ventures, is hiring a Venture Fellow. EVENTS 📅 Tuesday 29th: Financial Times Africa Summit, London, England. 📅 Tues 29th-31st: MWC Africa 2024, Kigali, Rwanda. 📅 Wednesday 30th: AESIS Investor Meetup, Cape Town, South Africa 📅 Wed 30th-31st: AI Expo Africa 2024, Johannesburg, South Africa. 📅 Thursday 31st: HoaQ Business Models for African Markets [Webinar]. 🇿🇦 Over the next month Cape Town will play host to the Pan-African Tech & Investor Ecosystem for several key events & we put together a live calendar for it. 👉 To find out more about Africa Tech & Investment focused events then check out my annual African Tech Events Watchlist - 2024 Edition. 🔥 Person to Follow #73 – Tshepiso Kobile is the CEO of Southern African Venture Capital & Private Equity Association (SAVCA). She has a professional & academic background in property & infrastructure finance. Previously worked for the Public Investment Corporation & Tongaat Hulett Developments with a long career in corporate governance across the public & private sector. 🎙️ New Podcast – Techpoint Africa is a podcast hosted by Chimgozirim Nwokoma and Bolu Abiodun. Each week, the hosts talk about startups, technology and innovation on the African continent. In this week’s episode, the hosts discuss the impact the Starlink’s entry into Africa on its local competitors. #Startups #Tech #Investment #Africa

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So what’s going on in the African startup, tech & investment ecosystem? Here are a few announcements, opportunities & resources worth checking out. Week 23 (2024) Post #95 SPOTLIGHT 🧐 The Google for Startups Black Founders Fund was established in 2021 to support black entrepreneurs & address the longstanding disparities they face in accessing capital & resources. To date, the fund has supported 220 startups, around 150 of which have been African based & market serving. To reflect on the last 3 years of work they have released in collab with Notion Capital its "Black Representation in Tech: Europe & Africa" report that looks at the funds impact, learnings & recommendations for the ecosystem. NEWS & RESOURCES 🌱 Orange Corners announce 1st winners of Innovation Fund Subsidy. 🏦 Paystack-led consortium acquires Brass, replaces CEO. 🌍 African Development Bank Group - 2024 Economic Outlook shows growth. 🇿🇦 Microsoft Invests $70 Million in South African Tech & AI Transformation. 🤝 Orange Ventures & Digital Africa Join Forces to Invest in African Startups. 🇳🇬 New Lagos bill to domesticate Nigeria Startup Act beyond startups? 🎤 What’s trending on Spotify Africa? Jocelyne Muhutu-Remy talks streaming. 🇮🇳 India's top telco, Jio ventures outside home to take on Africa. PROGRAMMES & OPPORTUNITIES 💁‍♀️ Rising Tide Africa Program seeking women-led & gender-diverse startups. 📣 Intel x AfriLabs Community Reach Project open for startup idea apps. 🤑 LoftyInc Capital, leading African VC looking for investment Analyst Intern. 💻 The Global Good Fund Fellowship 2025 For Innovators & Entrepreneurs. 📝 Plug and Play Tech Center Good Food Makers Program 2024. 💰 African Emerging Fund Managers apply to Obuntu Foundation Launchpad. EVENTS 🤯 May & June Africa’s Tech Ecosystem comes to Europe with 30+ events happening (too many to list this week) - check out my digest of all the events. 📅 Jun 3-5th: Korea-Africa Investment Summit in Seoul. 📅 Jun 6-7th: Africa Tech Summit in London. 📅 Jun 12th: London Africa Network x Africa Tech Festival - LTW Collab. 👉 To find out more about Africa Tech & Investment focused events then check out my annual African Tech Events Watchlist - 2024 Edition. 🔥 Person to Follow #59 - Marvin H. Coleby 🔥 is building the infrastructure, tools & knowledge to help Africa’s Tech ecosystem simply & manage equity for its founders & their investors. Co-Founder & CEO of Raise a platform that simplifies the fundraising process, he was previously a lawyer and researched in Technology, Trade, Finance & Security. 🎙️ A must listen to discussion hosted last week with Caleb Maru (Tech Safari), Marvin H. Coleby 🔥 (Raise .Africa) & Henry Ward (Carta) talking “Exits: Defining Liquidity in Africa’s Innovation Ecosystem. Great insights on the global equity management market & preparing African capital markets for long-term liquidity & generational wealth. Links in 1st comment - reference emojis👇 #Startups #Tech #Investment #Africa

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African founders, protect your capital from currency devaluation! If you're a fintech startup (B2C or B2B) raising capital in foreign currency with lending as part of your business model, here's a crucial tip to minimize your FX risk: 1. Use foreign currency as an asset: Don't convert your dollars, euros, etc to local currency. Instead, invest it in stable cash equivalents like treasury bills. 2. Leverage these assets: Use the asset as collateral to borrow in local currency. This allows you to fund your lending operations without exposure to devaluation. By strategically managing your foreign currency holdings, you can secure your capital and ensure the long-term stability of your business. Need more expert guidance on navigating the African market? Ingressive Capital provides early-stage startups with the capital and strategic guidance needed to succeed in the African market. Apply now at www.ingressivecapital.com.

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So what’s going on in the African startup, tech & investment ecosystem? Here are a few announcements, opportunities & resources worth checking out. Week 33 (2024) Post #104 SPOTLIGHT 🧐 Africa's Business Heroes Announces Top 50 Finalists for 2024 Prize Competition. The annual competition took in 20,000 applications from across all 54 Africa countries. The competition, supported by the Jack Ma Foundation and Alibaba Group Philanthropy, is a charitable endeavour designed to celebrate and uplift entrepreneurs across Africa. NEWS & RESOURCES 📣 Founders Factory Africa rebrands to 54 Collective VC - check out the look! 🏦 Mercury Bank compliance changes shut African startup accounts. 🐔 The men behind Nando’s – South Africa’s global peri-peri chicken empire. 🇦🇪 The Africa Debate from Invest Africa Ltd to launch the UAE edition. 🇮🇳 African tech is ditching Google for a small Indian competitor called Zoho? 🏗️ African Infrastructure Investment Managers (AIIM) closes fund at $748m. 💡 South Africa VC firm HAVAÍC elevates Kiara Suttner-Tromp to partner. 📕 Report - State of Tech in Africa (H1 2024 Report) from TechCabal. 🚙 What Africa is doing right in EV adoption push? Benjamin Dada reports. 🇹🇷 Egypt’s MNT-Halan banks $157.5M, acquire a fintech in Turkey to expand. 🇿🇦 Report - Watch SA Startup Act Movement Progress Report 23/24 Webinar. PROGRAMMES & OPPORTUNITIES 🇪🇬 Apply now to join Plug and Play Tech Center Programme for its 6th cohort. 🥬 Agribusiness Challenge Fund is offering grants of up to $2.5m for startups. 🚀 Accelerate Africa is taking Startup Nominations for its 2nd Programme. 🌍 Included VC Global VC Fellowship (Class of 2024) apps close tomorrow. EVENTS 📅 Mon 12th: Africa-Europe Foundation - International Youth Day Webinar. 📅 Mon 12th: Dream VC x Anza Capital - Guide to CVC Best Practice Webinar. 👉 To find out more about Africa Tech & Investment focused events then check out my annual African Tech Events Watchlist - 2024 Edition. 🙏 Ecosystem Ask - The ABAN 2024 Angel Investment Survey, sponsored by the Dutch Good Growth Fund and supported by Briter and the African Angel Academy (collaborating for the third consecutive year) is ongoing and is looking for you to contribute. 🔥 Person to Follow #68 - Audrey Verhaeghe is the pan African Tech start-up enthusiast and eco-system builder & Investor. She is the CEO of Anza Capital the Johannesburg based Venture Capital firm & Chairman of the SA Innovation Summit the largest innovation event in South Africa. 🎙️ This week a short film for you all - Women Who Build Africa, together with Uncover Skincare and Madica VC, present stories and perspectives from some of the women entrepreneurs and investors that are working to build and support businesses that solve real problems across African markets. Links in 1st comment - reference emojis👇 #Startups #Tech #Investment #Africa

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So what’s going on in the African startup, tech & investment ecosystem? Here are a few announcements, opportunities & resources worth checking out. Week 18 (2024) Post #90 Register for my newsletter for deeper insights launching this month - 🍍 link. SPOTLIGHT 🧐 After spending the last week in Johannesburg for AVCA - The African Private Capital Association PE & VC Summits, one of the continents biggest annual gatherings of its investor community. A key topic over the course of the week was ensuring gender parity with representation across investment teams, committees and decision making. So timely that Yassin EL HARDOUZ of Startup Researcher put together a list of Female VC Partners in Africa (2024). Check out the graphic below, link to his original post & recommend following. NEWS & RESOURCES 🚀 Redefining Fundraising for Impact Startups by Impact Entrepreneur. 🇬🇧 British International Investment launch $100m trade risk-sharing facility. 🇮🇳 African tech companies ditching Google for a small Indian competitor Zoho. 🤑 Great miscalculation & exit of multinationals in Africa by Efosa Ojomo. 🇳🇬 Africa’s top FinTech Flutterwave ready for an IPO and making clear signals. 📣 Adenia Partners a leading PE Africa growth firm closes $470m fund. 🇲🇺 After conquering financial services, Mauritius targets Tech via TechCabal. 🌍 African Entrepreneurship: Failed $1B jobs solution? By Abdul-Karim. PROGRAMMES & OPPORTUNITIES 🎓 Sahara Consult Mastercard Foundation EdTech Fellowship open for apps. 🇸🇸 Orange Corners South Sudan National Entrepreneurship Programme call. 💁‍♀️ Climate Gender Equity Fund open for USAID Grant Funding Proposals. 🇸🇩 Sudan Catalzer Emergency Working Capital Programme from 249Startups. 🤖 Africa DeepTech - Intel AI Programme from AfriLabs & Prosper Africa. EVENTS 📅 April 30th - Exploring Career Paths in Tech Webinar from TechCabal. 📅 May 5-8th: 2024 Forbes 30 Under 30 Summit Africa in Botswana. 👉 To find out more about Africa Tech & Investment focused events then check out my annual African Tech Events Watchlist - 2024 Edition. 🔥 Person to Follow #53 - Nivesh Pather is the Johannesburg based Investor who is part of the team as one of Africa largest Venture Capital Funds, Norrsken22. From consulting to corporate finance, Nivesh has worked across the Venture Capital Stack from time with Edge Growth, Launch Africa and Newton Partners before his current role. Well versed from Seed to Series+ funding he is one to follow in African Tech. 🎙️ Taking a step back from African Tech this week, we check out Ekenedilichukwu's list of 7 podcasts leading the charge in African Storytelling and Cultural Exploration. In this vibrant digital landscape, you’ll find everything from heartwarming human interest stories, to thought-provoking conversations on culture, politics, and history. Links in 1st comment - reference emojis👇 #Startups #Tech #Investment #Africa

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African Startup Funding Declines Over 50% YoY to $780 Million in H1 2024. Startups across Africa raised $780 million between January and June 2024, a 31% decline compared to H2 2023 figures and an even starker 57% decline compared to H1 2023. This decline continues a downward trend that began in 2023 when Africa's technology startups raised $3.5 billion across 547 deals, a 46% decline compared to the previous year[2022]. Key takeaways: 💰Two-thirds of the funding was in the form of equity, while a third was debt. 🧳 4 out of 5 dollars went to startups in the "Big Four" markets: Kenya, Nigeria, Egypt, and South Africa. Kenya alone secured a third of the total funding. 🚛 Transport & Logistics was the top-funded sector at 28%, driven by deals like Moove and SPIRO. #FintTech came in second but led in the number of startups raising $1M+ 👬🏾 Only a tiny fraction of funding went to female-founded startups, with 85% going to all-male founding teams and 92% to male CEOs. The decline in startup funding continues the downtrend witnessed in 2023. However, the resilience of African startups is evident. By supporting diversity and innovation, we can help the ecosystem weather the storm and emerge stronger. One way of doing that is to double down on building sustainable businesses. Peter Ndiang'ui, Harry Hare, Kamau Kunyiha, Moses Kemibaro, Fred Kithinzi, Serah Mwikali Katusya Read more: https://lnkd.in/dGptrGdu #AfricanStartups #VentureCapital #FundingTrends

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