Despite a funding slowdown in 2023, Africa's technology sector continues to attract investors, with a major company closing a new fund dedicated to the continent's burgeoning startups.
Technology investment firm Partech has closed its second Africa-focused fund, Partech Africa 2, at 280 million euros (over 300 million USD), the company announced on Monday.
The fund, exceeding its initial target, received strong backing from existing investors, with nearly all participants from Fund I reinvesting and some increasing their commitments. Partech also attracted new strategic investors from the US, Middle East, and Africa, marking their first foray into the continent's tech scene.
Partech Africa 2 will target investments ranging from $1 million to $15 million across various stages, from seed rounds to Series C fundraising. The firm aims to support approximately 20 startups across the continent.
"We are grateful for the support and commitment of our investors: almost all Fund I investors reinvested and some, more than doubled their commitment. [...] We are also honored to get the support from a new set of strategic investors from the US, the Middle East, and Africa, and for some of whom, this marks their first commitment in African Tech," said Cyril Collon, General Partner at Partech.
This announcement comes despite a 54% decline in VC funding for African startups in 2023, according to Partech Africa's "2023 Africa Tech Venture Capital" report released in January 2024. However, the firm emphasizes that the sector's attractiveness remains undimmed, citing consistently high investment amounts and the influx of new players like themselves.
Partech has also opened a new office in Lagos, Nigeria, to deepen its African presence, joining its existing locations in Dakar, Senegal, and Nairobi, Kenya. The new fund has already invested in three startups: a real estate platform in Egypt, a payment orchestration firm in South Africa, and an e-commerce platform in Senegal.
Adoni Conrad Quenum
The COVID-19 pandemic's disruptions exposed the need for robust digital infrastructure and skills across Africa, sparking a surge in initiatives aiming to bridge the digital divide and accelerate economic transformation.
The United Nations Economic Commission for Africa (ECA) and Google signed a Memorandum of Understanding (MoU) today at the Africa Business Forum in Addis Ababa, Ethiopia, to boost digital transformation across the continent.
Commenting on the merits of the initiative, Claver Gatete (photo, right), Executive Secretary of the ECA, said it had the potential to deliver significant results in addressing digital challenges and bridging the digital divide in Africa. He also emphasized Google's central role in improving connectivity in Africa, supporting African innovators and entrepreneurs, and building digital capacity.
As part of this partnership, the two parties will collaborate in three key areas. Firstly, they will focus on start-up development, to enable 1 million start-ups to generate $100 billion in revenues by 2033. Secondly, they will focus on training young people in ICT, with plans to train 5,000 young African students and 200 teachers in computer science and robotics. This training will support their participation in global competitions, such as the Robotics Olympiad, and increase Africa's representation in this field.
Finally, both partners will work to strengthen cybersecurity in the region. This will be done through dialogues with government officials, training workshops, collaborative research, and the sharing of best practices in cybersecurity. Ultimately, these initiatives will help bridge the digital divide in Africa by promoting infrastructure development and affordability, a sound regulatory environment, and fostering digital skills.
Samira Njoya
Technological advancements offer African countries grappling with rising crime rates an opportunity to leverage this tool for enhanced law enforcement. In Africa, technology supports crime-fighting endeavors by enabling real-time tracking and monitoring of criminal activities, leading to faster response times and improved resource allocation for law enforcement agencies.
Lagos State Commissioner of Police, Ayoade Fayoade, in an interview on Friday, February 16, 2024, announced the reactivation of the police force’s tracking device to tackle kidnapping and other crimes in the state. This reactivation comes in response to rising kidnapping cases reported in the country.
Measures have been intensified to address residents’ concerns about kidnapping in various parts of the state. Fayoade stated, “We have reactivated our tracking devices and deployed personnel in identified kidnap-prone areas such as Igbogbo, Ijede, and Idimu.”
In Nigeria, kidnapping has become a profitable criminal enterprise, attracting new perpetrators who hold victims hostage in exchange for ransom. In 2018, Nigeria had the highest number of kidnapping for ransom cases worldwide, as reported by the International Centre for Investigative Report in their article titled “The Cost of Getting Kidnapped in Nigeria.” The incidents of kidnapping started to rise in 2014, with 897 victims recorded, and peaked in 2021, with 5,287 victims, the report further revealed, placing the country “among the Costelli Kidnap Ransom Top Ten Countries for Kidnapping Foreign Citizens in 2022.”
The reactivation of the tracking device and collaborative initiatives demonstrate the proactive approach of the Lagos State Police Command in safeguarding residents against the menace of kidnapping and associated crimes.
Hikmatu Bilali
Through a diverse range of programs, from technology camps to the acceleration of small and medium-sized enterprises, Women EdTech offers a fertile ground for the growth of women-led ideas and businesses.
Women EdTech, a digital training center, incubator, and accelerator for women, was established in 2017 in Benin to promote the inclusion of girls and women in the digital sector.
Led by CEO Elodie Akotossode Padonou, the center's primary objective is to assist girls and women in enhancing their skills and quickly developing new ones, as well as providing them with more opportunities for business growth. By 2030, Women EdTech aims to create 300,000 jobs and support 30,000 women entrepreneurs and small and medium-sized enterprises (SMEs).
Women EdTech offers a variety of programs, including training and insertion programs, technology camps, and an academy. It also provides incubation programs such as the Women Developers Academy, Fempreneures, and DigiPreneurs to assist women in developing their businesses.
As an accelerator, Women EdTech offers a Business Growth program, which is a 3-month SME acceleration program. This program provides specialized support, networking, partnership opportunities, and resources to women who run e-commerce-focused SMEs. The program aims to help women in Benin's entrepreneurial ecosystem increase their revenues and visibility through digital tools, as well as scale up, unlock their export potential, and access financing.
Since its inception, Women EdTech has trained over 500 women and established more than 100 businesses. It has also accelerated over 100 businesses thanks to its team of experts made of 80% women.
Melchior Koba
Despite progress, nearly half of Nigeria's population remains offline, underscoring the country's persistent digital divide. This gap is largely attributed to the lack of internet infrastructure in rural areas. The government is aiming to bridge this divide by launching new initiatives, but challenges remain.
Nigeria's Communications, Innovation, and Digital Economy Minister, Bosun Tijani, announced on Monday the launch of the "Project 774 LG Connectivity" to address limited Internet and digital access by connecting all 774 local government secretariats in the country to the Internet.
The initiative aims to foster inclusive development and access to digital public infrastructure in government offices across Nigeria, including remote areas that may have been previously underserved or unserved. Co-financed by Nigerian Communications Satellite Limited (NIGCOMSAT) and Galaxy Backbone, it is placed under the supervision of the Federal Ministry of Communications, Innovation, and Digital Economy.
The project aligns with President Bola Ahmed Tinubu's "Renewed Hope" program and the Ministry's strategic plan. It will provide local governments with reliable and affordable Internet access, promoting efficient public services and transparency. As the foundation of governance at the local level, local government secretariats will play a more crucial role in shaping the country's socio-economic landscape.
The initiative will also contribute to digital inclusion in the country, creating at least 300 direct jobs as the project is rolled out nationwide, and potentially more indirect jobs through increased digital access.
Samira Njoya
As Africa's internet connectivity surges, data hosting emerges as a critical battleground. While major tech companies invest heavily in the continent's infrastructure, concerns around digital sovereignty rise, prompting some nations to seek greater control over their data landscape.
Moroccan cloud provider Atlas Cloud Services and Indian IT giant HCLSoftware signed a partnership on Thursday, aiming to support businesses' digital transformation and strengthen the country's digital sovereignty, Morocco's MAP news agency reported.
The collaboration focuses on delivering high-performance cloud services tailored to local needs. A key initiative is establishing a localized messaging platform, ensuring data security and control for sensitive information. This platform offers flexible capacity and performance, catering specifically to business requirements.
Furthermore, the partnership encompasses secure instant messaging solutions for internal and external communication, facilitating collaboration and boosting employee productivity. A video conferencing tool is also included, enabling seamless communication and remote working. Additionally, a dedicated data storage and sharing space allows businesses to store and access data securely from any location and device.
Beyond commercial initiatives, the partnership extends to deploying a university research system and promoting scientific research and training, fostering innovation and talent development.
This collaborative effort aligns with Morocco's goal of bolstering its digital sovereignty. The country boasts dedicated infrastructure, including the African Supercomputing Center at UM6P, which opened in March 2021, one of Africa's most powerful computing facilities. In July 2023, Morocco implemented a ban on storing sensitive data outside the country.
Samira Njoya
A serial entrepreneur, he offers technological and social solutions to transform communities, businesses, and individuals. He also invests in young entrepreneurs with high-potential business ideas.
Senam Beheton (photo) is a Beninese entrepreneur and investor. The co-founder and CEO of TEKXL, a startup studio offering incubation, acceleration, and venture capital, he is passionate about transforming ideas into scalable ventures. Founded in 2014, TEKXL provides budding entrepreneurs with comprehensive support, from technology and training to workspace and funding, to launch competitive businesses.
Driven by a strong educational background (degrees in political science, international development, and educational technology), Beheton has been a serial entrepreneur for over 20 years, founding and investing in more than 35 companies and organizations, mostly in the tech sector.
"Investing in and supporting early-stage entrepreneurs in French-speaking West Africa is essential to fuel our region's development," he emphasizes.
Beheton's impact extends beyond TEKXL. In 2009, he established EtriLabs, an innovation ecosystem fostering collaboration on solutions for national and international challenges. He also co-founded Kudizy, a cloud-based financial management tool empowering African SMEs with access to financial data.
Actively involved in the broader entrepreneurial landscape, Beheton serves as a board member of Afric'innov, an association supporting entrepreneurship structures in French-speaking Africa. He is also co-founder and managing partner of Noru Capital, a venture capital firm investing in West African tech companies.
Furthermore, he champions inclusivity through Intrepid Entrepreneurs, an initiative supporting women and young innovators in Africa.
Melchior Koba
With a six-month venture-building program and tailored incubation and acceleration initiatives, Betacube supports start-ups at every stage of their growth, fostering innovation, job creation, and economic growth in Africa and beyond.
Founded in 2019, Tunisian venture builder Betacube is fueling Africa's entrepreneurial spirit, empowering young minds to turn ideas into thriving businesses. Led by CEO Amel Saidane (photo, center), the pan-African firm fosters a collaborative environment where "creativity flourishes and possibilities are limitless," Saidane says.
Betacube's mission extends beyond borders. It connects young entrepreneurs to global networks, promoting opportunity, job creation, and growth across the continent. Collaboration lies at the heart of their approach, bringing founders and investors together to drive innovation.
Their offerings cater to various stages of a startup's journey. The six-month venture-building program provides comprehensive support, preparing entrepreneurs for investment and accepting up to eight startups per cohort. Additionally, customized incubation and acceleration programs offer webinars and personal coaching sessions.
Operating in Ethiopia, Senegal, and Tanzania, Betacube has supported 200 startups, including Bako Motors, a leading electric vehicle manufacturer. Their reach extends beyond Africa, with an export to Saudi Arabia in September 2023. To date, it has facilitated over 500 company presentations and raised $2.085 million in funding.
Melchior Koba
The Egyptian government's recent surge in investments in the digital sector reflects its recognition of technology's potential to drive economic growth and exports. This increased focus on digitalization aims to bolster Egypt's capabilities in outsourcing, a key pillar in the country's aspirations to become a regional technology hub.
Egypt's Information Technology Industry Development Authority (ITIDA) and UAE-based Mashreq Global Network inked a cooperation agreement today at the World Government Summit, aiming to create 300 digital banking jobs for Egyptian professionals over three years.
This partnership goes beyond job creation, enabling Mashreq to expand its Egyptian operations in data analysis, business intelligence, and internal auditing. These services will be exported from Egypt to Mashreq Bank clients in the UAE, bolstering Egypt's digital export ambitions.
According to Egypt’s Minister of Telecommunications and Information Technology, Amr Talaat, the agreement reflects the attractiveness of Egypt's ICT sector, which has become a target for international companies seeking expansion.
The deal aligns with Egypt's 2022-2026 Digital Strategy for the Development of the Outsourcing Industry, which aims to double digital exports and create 34,000 export-oriented jobs by 2025.
Egypt's investments in the digital services export sector yielded $6.2 billion in 2023, a 26.5% increase from the previous year. The country eyes reaching nearly $9 billion by 2026.
Samira Njoya
The World Bank seeks young leaders aged 18-35 to participate in its 11th annual Youth Summit, themed "Powering Progress: Youth Leading the Digital Transformation."
Scheduled for May 30-31 in Washington D.C., the summit will gather thousands of individuals worldwide to raise awareness of development challenges and engage them in developing innovative solutions using digital technologies. Interested young people can submit their applications by March 1 through the following link: https://youthsummit24.wufoo.com/forms/zr587641ladlrn/
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Boasting over 20 years of experience in IT and telecommunications projects, he will support African institutions and governments in the successful implementation of their digital and development projects.
Wilgon Berthold Tsibo, an entrepreneur and IT specialist from the Republic of Congo, has been appointed Deputy Managing Director of Tactis in Africa. Although he assumed the position in December 2023, his appointment was officially announced on February 15, 2024. Tactis is a French consulting firm that specializes in telecommunications, digital planning, engineering, and the digital transformation of territories. With subsidiaries in Casablanca and Kigali, it offers its expertise to public and private actors –as an assistant or business expert– in sectors like telecoms infrastructures, the development of smart territories, private networks, information systems, and the transformation of organizations operating in the telecoms sector.
As Deputy Managing Director - Africa, Wilgon Berthold Tsibo's mission is to assist African governments and institutions in the successful implementation of their digital development projects. His approach is characterized by a strategic economic vision and multi-partner collaboration aimed at promoting inclusive, quality services for states, citizens, and businesses.
Tsibo is also the founder and CEO of Berthold Consulting Management and Support (BCMS), a consulting firm specializing in key areas such as ICT products and services, project and organization management, ICT and project management training, site construction and management (Telecom and FTTx), and general trade. He holds master's degrees in computer science applied to business management obtained in 2010 from the International University of Tunis, project and organization management obtained in 2013 from the Institut Supérieur d'Informatique et de Management de Bamako, and business administration obtained in 2020 from Edinburgh Business School in Scotland. He is also a doctoral student in operations management and supervision at the Catholic University of San Antonio de Murcia.
He began his career in the telecoms sector with Ericsson, where he held the position of Operations Director, managing MTN's rollouts in Congo between 2004 and 2009. He then joined the Azur Group as Project Director with Siteg Telecom from 2010 to 2012, and then as Technical and Operations Director for Azur Congo. In 2012, he was promoted to Technical and Operations Director of Groupe Azur, with responsibility for 4 countries (Congo, Gabon, Central African Republic, and France), where he remained until 2017. Between 2021 and 2023, he was a Senior Manager at Smart Africa, leading the strategy, operationalization, and expansion of digital infrastructure projects in 39 member states.
Melchior Koba
Burkina Faso's Ministry of Digital Transition, Posts and Electronic Communications (MDTPEC) has made significant progress in its efforts to dematerialize priority public services, according to an evaluation workshop held recently in Koudougou.
By January 31, 2024, the average completion rate for dematerializing 43 key procedures stood at 83.97%, the ministry said. The workshop also focused on drawing up a roadmap for further digitization in 2024.
Like many sub-Saharan nations, Lesotho grapples with digital education challenges. However, the government aims to leverage assistance from more advanced countries to significantly improve the situation in the coming years.
Lesotho's Education Minister Ntoi Rapapa signed a memorandum of understanding (MoU) with the United Arab Emirates (UAE) to boost digital education, aiming to establish "digital schools" in the African nation.
This collaboration concluded at the World Government Summit in Dubai, reflects the commitment of both countries to equip communities for the digital age. Under the agreement, the UAE's "Digital School" program, launched in 2020 by Prime Minister Sheikh Mohammed bin Rashid Al Maktoum, will be extended to Lesotho.
This program promotes continuous innovation in education through game-based modules and AI-driven adaptive learning. The initiative is crucial for Lesotho, where only 5% of primary schools currently possess digital education equipment, according to government data.
Rapapa also highlighted efforts to digitize other sectors in Lesotho, including government administration. Currently, only three of the 18 ministries utilize e-governance practices. The plan aims to digitize all ministries within the next 2-5 years.
Samira Njoya
Bridging the gap between academic research and commercial application, the Technology Innovation Agency (TIA) stands as a key driver of South Africa's technological transformation. By nurturing and propelling bold ideas to market, the agency plays a vital role in the country's innovation ecosystem.
South Africa's Technology Innovation Agency (TIA), a public entity, aims to bridge the innovation gap between research and development by universities, science councils, public entities, and the private sector. Headed by Acting CEO Patrick Krappie, TIA's mission is to stimulate economic growth and strengthen industrial competitiveness through the practical application of cutting-edge knowledge and technologies.
TIA offers a diverse range of services and programs, including support for research and development, assistance in commercializing innovations, and the Technology Station program, which fosters collaboration between industry and academia. The Technology Station program provides a variety of services, such as testing and analysis, prototyping, consulting, technology audit, feasibility study, process and product improvement, applied development, engineering and design, and research and development. Additionally, TIA supports the commercialization of innovations by offering funding opportunities and advice to entrepreneurs, helping them turn their ideas into tangible commercial successes.
TIA's vision is to be a world-class innovation agency that supports and enables technological innovation to achieve socio-economic benefits for South Africa through leveraging strategic partnerships. The agency's mission is to enhance South Africa's global competitiveness and deliver socio-economic value through technological innovation across sectors of the economy using appropriately structured financial and non-financial interventions, development and maintenance of human capacity for innovation, and building a culture of innovation.
Melchior Koba