Contact Information

New York

We Are Available 24/ 7. Call Now.

Word on antoa’s street—TechTouch—is that 81% of surveyed top executives at venture capital and private equity companies believe that there would be a huge entrepreneurial boom in Africa despite the limitations surrounding internet connectivity by 2025.

Beyond poor internet connectivity for some, there is also the lack of digital skills. Although 5G would be a game changer for many.

No doubt these challenges are holding back African start-ups from attaining greater heights as compared to businesses outside the continent. However according to the top executives surveyed, with more entrepreneurs increasing in number and productivity the rise of valuable startups are undeniable in the African and global market.

Today about $3.8 trillion marks the value of start-ups in the world with African startups currently occupying 0.2%—$7.6 billion.

…entrepreneurialism is growing rapidly across Africa but the current value of start-ups on the continent is just 0.2% of the value of start-ups globally and could be much higher. Venture capital and private equity investors are clearly very optimistic about the future for start-ups but like in many countries they see potential roadblocks including lack of funding. Africa also however suffers from poor internet connectivity which has an inevitable knock-on effect for the digital skills needed in start-ups—Micky Watkins, CEO of World Mobile

Research shows that poor internet connectivity without improvement will lead to a decline. This could therefore affect access to VC funding.

Regardless, VCs and private equity investors remain strongly optimistic.

The importance of internet connectivity to support entrepreneurs will only grow in the future but there are still areas where delivering affordable and reliable connectivity remains an issue. World Mobile’s network based on the sharing economy sells affordable network nodes to local business owners, so they have the power to connect themselves and others while sharing the rewards. This will enable more people to access the opportunities that internet connectivity creates—World Mobile

PS:

World Mobile is one of the top innovators revolutionising internet connectivity in Africa.

Thank you for reading this piece on TechTouch. Please share today’s edition with your network on WhatsApp, Telegram and other platforms, and feel free to leave comments or any suggestions. We’ll like to learn more from you as well.

Follow us on Twitter, Instagram, and Facebook, to stay engaged in our real-time conversations on fashion, tech and innovation in Africa.

By Elijah Christopher

 

Share:

Elijah Christopher is a lifelong creative artist and a journalist for “A New Touch Of Africa”, an American news media and magazine focusing on Africa-related issues, fashion, new technologies and innovations. He has contributed to several published works, most notably a collaborative poem celebrating Scottish poet Edwin Morgan and in 2021 was the winner of the DIAJ Award for his photo-artistry.

Leave a Reply

Your email address will not be published. Required fields are marked *