Welcome to day 3 of the #100daysofVC series and i’m so excited to welcome you to a new episode.
In today’s episode we’ll explore Africa's cause for development and a plot twist on the way forward.
In search of the light.
It’s problematic that much of the public debate about African development often revolves around aid and charity instead of public and private investments.
Over the past 50 years, Africa received more than $1 trillion in development aid, but this aid which often comes with many strings attached has ruined the continent instead of developing it.
When we look at other countries and regions of the world which have exponentially developed over the past decades, it’s evident that charity played a negligible role.
I’m a firm believer that where there are challenges there are opportunities and business opportunities are plenty and abundant in Africa.
A good starting point for Africa is to make the shift from charity and aid to public and private investments especially drive up venture capital investments on the continent.
Africa’s startup scene is thriving and Africa has seen a massive growth of capital flowing into these startups.
We've seen a lot of innovations and solutions that solve some of our most wicked problems and this to me is a step in the right direction.
These days it’s no longer a big deal when we see $millon dollar raises in our ecosystem.
In 2021 Africa's Venture capital funding surpassed that of the previous years at about 3X or more and we’re expected to see more come 2022.
Source; The Big Deal
It’s no surprise that events like this has has ignited the interest and curiosity of investors in the African market.
I guess i won't really spill out all the news around our advancement in this field now, maybe we’ll do that some other time.
For now, i’d love to know your thoughts in this sphere, what role do you think venture capital has played in Africa and the emerging markets at large.
You can leave your comments below.
You can also spread the word and ignite the curiosity of other by sharing this article.
See you tomorrow😍
References; Dauda Barry and Africa: The big deal.