Andela is an example of that and doing quite well. African start-ups are actually very capital efficient from day one. Frontier tech refers to businesses using new technology solutions like artificial intelligence and machine learning – which are coming up in the world. So a lot of people are using technology to really disrupt the informal supply chain.And then there is the education tech space. So that is one lesson Silicon Valley can learn from them. And once you become the company which everyone goes to, you have a lot of pricing power and value to bring to the table.In terms of [high-return] sectors, it is still broad. I don’t want to go into numbers, but I can say that the IFC will focus on being more aggressive with the venture asset class, particular in frontier markets. IFC has invested over US$1 billion in venture capital investments in companies across various sectors.
In my view you are only limited by how big you can actually dream. It was started in Nigeria, then [expanded to] Kenya and has recently launched in Uganda.We are also focused on health tech, fintech and clean tech. If you ask what their vision is, they always start with saying they want to change the world.I think African start-ups are more humble and reserved in the way they communicate their vision. The total addressable market has to be big enough for venture capital to participate.We look at a bunch of sectors too – but mostly tech and tech-enabled businesses… We spend a lot of time looking at consumer internet technology, such as e-commerce and e-logistics platforms. But there are also lessons Silicon Valley can learn from African start-ups.
4Di 500 Startups Abraaj ACA AfDB AfricInvest Algebra Aureos Cathay CDC CDG Convergence CRE Venture DOB EchoVC ECP EIB Enko Ethos FMO Fusion Capital Goodwell GreenTec HAVAIC I&P IFC Inspired Evolution Kalon Kinnevik Knife Knife Capital Metier Novastar Omidyar OPIC Partech Proparco Quona Sawari Silvertree TLcom TLcom Capital TPG XSML Y Combinator © 2019 African Financial & Economic Data. How we made it in Africa asked him about investment opportunities in the continent and how local start-ups compare to their global peers. It’s more around us trying to push the envelope in Africa to do more.Basically we are looking for high-growth businesses that can use technology to enable their ability to scale rapidly. We see an opportunity to apply these technologies to African problems today.We believe most of our investments are doing well, and that is why we invested in them. I think the bottom line of your question, which I will address, is whether you can get high returns in Africa. That is the difference I see. In Africa, if you are able to scale quickly and solve a large problem, the chances are actually quite high that it will become the only solution available. All Rights Reserved Consumer internet as a sector is quite broad, but we focus on it a lot. It needs to be big.Yes, from a vision and market [size] perspective, this is a lesson they can learn from Silicon Valley. Not many of them exist in Africa as whole but here are the top 10 venture capitalists in Africa you can approach for your business growth.
I can’t over emphasis that enough. So that is one lesson Silicon Valley can learn from them. Olawale Ayeni is regional head for Africa investments at IFC Venture Capital. Mobisol is one of our portfolio companies within [clean tech].In addition to all of this, we also focus on frontier tech. The size of the team has increased and we are looking at [more deals on the continent]. Another example in this space is GetSmarter in South Africa, although it is not one of IFC’s investments. We have had some exits which have been good. The total addressable market has to be big enough for venture capital to participate.We look at a bunch of sectors too – but mostly tech and tech-enabled businesses… We spend a lot of time looking at consumer internet technology, such as e-commerce and e-logistics platforms. That is the difference I see.
“Africa’s Talking’s platform democratizes access to critical digital infrastructure that African start-ups and businesses need to scale,” said Oumar Seydi, IFC Director for Sub-Saharan Africa. I think the bottom line of your question, which I will address, is whether you can get high returns in Africa. We are not just increasing for the sake of it.
Another example in this space is GetSmarter in I could go on and on about different sectors but the overriding notion is that it is all about opportunity at the end of the day, and having the right team to design solutions to solve very big problems in a large market – and tech can be used as a turbocharger for scale.Start-ups are always different all over the world… But with looking at how entrepreneurs should approach opportunities, the advice I would like to give is that African start-ups need to have a bigger vision and dream more.
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