Why Investors Are Piling into African Startups

The current situation of some countries in the African continent is not so good. Among the countries of the African continent, the economic condition of some other countries like Uganda, Kenya, and Ghana is not very good. People of the country are deprived of their various needs due to their economic condition.

Africa is known as the poorest continent in the world. Where there are more poor than rich. Although Africa has abundant mineral resources under its soil, there is strong manpower. Still, the first 10 countries on the list of the world’s poorest countries are from Africa. It also has a lot of history behind it. Sectarianism, riots, political instability, corruption, and terrorism are involved. Natural disasters, civil wars, refugee crises, economic crises, and terrorism are affecting the African continent today.

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About the Country

Among African countries, Kenya was known as Silicon Savannah. This name comes from Silicon Valley. Many early adopters in the tech space are starting to build a community. They started producing different types of products. which is now managing the creation of the African technology space. After more than a decade of trying, Africa’s startup scene is evolving.

Africa’s tech startups are set to raise a record $5 billion in 2021 as investors pile into firms trying to solve the continent’s thorniest problems. But money does not flow evenly.

This was a lot of interest and excitement from investors in the US.

5 unicorn private companies worth more than $1 billion have created a record. And looks more promising this year. From this, it can be understood that the overall condition of Africa can be improved through these companies

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About the Video

Bloomberg Quick Tech is a global streaming news network for a new generation of leaders and professionals. Their coverage spans your entire world, from your career ambitions to your personal passions and larger societal concerns. They provide the insights you need to adapt and thrive in times of historic transformation across all domains of life.

This video discusses the interest of US investors in African countries. This video has 269,210 views with 6.3 likes and 536 comments. Click this link to watch the video. Video link.

Some of the comments

Some of these comments are given below.

Daggie – Douglas Mwangi – Blanqx

I can’t remember the last time I handled physical cash – thanks to MPESA.

I am glad to see Bloomberg showing Africa’s startup scene, more of this visibility will solve the problem.

Isoryte

I see great potential in Africa, and it can accelerate faster with Nigeria and Kenya tech hubs collaborating (more), then helping South Africa and Egypt get on board to cover and support the four regional markets.

Nothing can get Africa to one currency and single market faster than a unified tech hubs platform

Carson Leung

This is so awesome to see! I hope tech brings prosperity to Africa.

Siyad Yusuf

One area many Africans are lacking is the lack of computer labs in schools, I am in Somalia and there are no computers to learn basic IT, coding, etc, and that makes it hard to get talent to build next-tech innovations. We hope those big tech companies help schools get basic IT equipment across Africa, particularly Somalia.

donald mwenesi

M-Pesa was a success even before the world realized it. I think the same energy needs to be reciprocated in our African health sector.

Ashit Mallick

Nice to see the African startup scene. I wish they move more and more into Asian economies like India, China, Bangladesh, and ASEAN. And Asian startups should start infusing capital into the budding startups of Africa.

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Conclusion

Despite the political unrest, Ethiopia and Rwanda are doing quite well in improving the health and quality of life of the people. Maybe one day leaving behind this old poverty and neglected life, Africa will also come forward in the list of the world’s most prosperous countries.

So much interest from US investors in African countries is really exciting. It is through these investors that the economic conditions of neglected African countries can be expected to improve.

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