Business Day Spotlight | Funding Africa's tech future

In this edition of Business Day Spotlight, our focus is on funding and finance for small technology ventures.

Our host Mudiwa Gavaza is joined by Christophe Viarnaud, CEO of AfricArena, a deal flow platform that seeks to increase investment for technology start-up businesses in Africa.

In this discussion Viarnaud explains what AfricArena is, its origins and where theyplan to go. He also talks about their AfricArena Tour which is currently happening in SA.

He says less than 1% of venture funding in the world makes its way to Africa but adds Jumia Technologies’s listing on the New York Stock Exchange earlier this year has done a lot to spur interest in African start ups.

Jumia, a Nigerian based e-commerce business, supported by Africa’s largest mobile operator, MTN, is the first start-up to list from the continent at a valuation of $1bn (R14.5bn), making it a “unicorn” in the industry

Having a presence in about 54 countries, through their partner network, impacting thousands of start ups, Viarnaud says their mission is to increase funding for technology businesses by working through with corporate partners that assist financially and through mentorship. The platform boasts such partners as Old Mutual as part of its network.

Cape Town is a hub of tech innovation, but the East Africa region has been on the rise in recent years, particularly countries like Rwanda where the concept of e-government has become a norm, Viarnaud says.

Business Day Spotlight is a MultimediaLIVE Production.
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