A serial entrepreneur known for heading multiple businesses, he is the founder of A-Trader, a platform that aims to democratize investment by simplifying access to African markets and promoting savings for Tanzanian individuals.
Tanzanian entrepreneur and computer scientist Andrew Tesha (photo), who holds a Bachelor's degree in Information Technology from Southern Cross University (2008), is the CEO of A-Trader Tanzania. This startup, established in 2016, digitizes African capital markets, facilitating the trading of shares on African stock exchanges for investors of all levels.
A-Trader's AI-powered platform, accessible via any mobile device, offers savings and investment services, including automated investment advice. The company's mission is to foster a culture of savings and investment in Tanzania and throughout Africa, enabling the middle class to achieve their financial goals.
In recognition of its impact, A-Trader was awarded the prize for best young startup at the seventh AfricArena Grand Summit in December 2023.
Tesha, a serial entrepreneur, also co-founded (in 2018) and directs Place Listed, a platform that aids in the discovery of dining, lodging, and travel locations for both local and international users. In 2008, he established The Green Thumb Initiative, a company that provides farmers with the resources to produce organic crops, access the value chain, and significantly increase their household income and regional agricultural productivity.
In 2010, Tesha co-founded Mpakasi, a portal for African entrepreneurs and managers. Six years later, in 2016, he also founded Andrea Consulting, a consultancy that develops business strategies and markets for startups specializing in innovative technology, mobile solutions, and agribusiness.
Melchior Koba
Through this equity investment, the AfDB is indirectly supporting startups that are among the least financed in Africa. This initiative comes against a backdrop marked by a 36% drop, to $3.2 billion, in fundraising by African startups in 2023.
The African Development Bank (AfDB) is boosting early-stage innovation and job creation across Africa with a $10.5 million equity investment in Seedstars Africa Ventures, the development bank announced Wednesday.
The move aims to empower Seedstars, a venture capital fund focused on high-growth African startups, to expand its reach and attract further investors. This will strengthen the continent's entrepreneurial ecosystem, supporting crucial sectors like financial inclusion, healthcare, and off-grid energy.
The AfDB's contribution comprises $7 million from its own resources and $3.5 million from the European Union's Boost Africa program. This injection will enable Seedstars to invest up to $75 million in seed and early-stage startups, providing initial investments of around €250,000 with potential follow-on funding of up to €5 million.
This partnership is expected to unlock vital capital for promising African businesses, creating over 9,000 full-time jobs, particularly for women. It aligns with Boost Africa's goals and reinforces the development bank’s commitment to poverty reduction, sustainable development, and regional integration through entrepreneurship.
Seedstars will prioritize investments in financial inclusion, healthcare technologies, off-grid prepaid energy, retail platforms, and agri-food value chains. This aligns with the AfDB's "High 5" priorities, which focus on agriculture, energy, industrialization, integration, and improved living conditions for Africans.
Samira Njoya
At the head of a neobank, he helps entrepreneurs develop their businesses by providing access to collateral-free commercial loans and several innovative payment methods.
Nigerian innovator and entrepreneur, Samuel Eze (photo), is the CEO and founder of OurPass Business Banking, a global neobank offering comprehensive banking, payment, and business management tools for businesses of all sizes. Initially launched in 2021 as a one-click payment platform to address the issue of abandoned shopping carts in online businesses, OurPass has evolved into a company providing end-to-end solutions that foster business growth. The company, backed by investors such as Techstars, Tekedia Capital, Berrywood Capital, and Volition Capital, aims to create a world without borders for successful businesses.
OurPass Business Banking, licensed as a microfinance bank by the Central Bank of Nigeria, offers businesses access to collateral-free commercial loans. It provides merchants with the ability to generate payment links via email and SMS for instant payment, and also offers offline payment collection through point-of-sale terminals.
Eze, a graduate of the University of Ilorin in Nigeria with a bachelor’s degree in electrical and electronic engineering, completed an innovation course at Leeds University in London in 2019. He is also the founder of Parkcrowdy, a parking app, where he served as CEO from 2019 to 2020.
He began his career in 2015 as an IT engineering trainee at Acti-Tech Ltd. He later worked as an IT trainee at Huawei West Africa in 2016 and served as a Key Account Manager at consumer goods company Procter & Gamble from 2017 to 2018.
In 2019, Eze and his parking app, Parkcrowdy, won several awards and competitions, including the Digital Africa Conference and Exhibition by Digital Africa and the Wennovation Hub Demo Day. Parkcrowdy was also recognized as one of the top 10 best African mobility start-ups at the Bosch Demo Day organized by Founders Factory Africa.
Melchior Koba
An increasing number of African nations are looking to leverage the technology ecosystem to enhance their digital economy. Governments are partnering with diverse organizations to provide a plethora of opportunities for local tech innovators.
Global Innovation Initiative Group (GIIG), a Mauritius-based tech platform, announced a strategic partnership Friday with Ethiopia's Ministry of Innovation and Technology, Ministry of Labor and Skills, and Entrepreneurship Development Institute (EDI) to propel the nation's burgeoning startup scene.
"EDI and GIIG have a shared purpose to discover, iterate and scale solutions that deliver impact for some of the world’s most stubborn challenges with a mission to create a vibrant, resilient, and authentically Ethiopian entrepreneurial innovation ecosystem. As partners, we can lead with a greater sense of urgency, to help communities and organizations adopt change faster for rapid transformation," said Hassan Hussein, EDI President and CEO.
The collaboration comes after Addis Ababa hosted the African leg of the Global Startup Awards in October 2023. The event, covering 120 countries (54 in Africa), catalyzed Ethiopia's ambition to build local innovation economies, equip its citizens with future-fit skills, and nurture globally competitive businesses.
This move reinforces Ethiopia's efforts, including the Next Ethiopian Startup Initiative (NEST) launched last October, to prioritize and develop its startup ecosystem.
"As part of the NEST initiative, we are committed to building a long-term partnership with GIIG and the Global Startup Awards Africa," said Muferihat Kamil, Ethiopia's Minister of Labor and Skills. "It is absolutely critical that the startup ecosystem in Ethiopia becomes a leading agenda for the nation. We need to build our economies not to imitate but to lead as Africans and initiatives with GIIG will play a significant role in enabling this."
However, Ethiopia faces challenges in its quest for digital transformation. Recent years have seen concerns regarding voluntary internet shutdowns amidst regional conflict and public protests. According to Top10VPN, Addis Ababa alone experienced 14,910 hours of internet blackout in 2023, costing an estimated $1.59 billion. In 2019, the country experienced 346 hours of blackouts, affecting 19.5 million inhabitants and costing the country $56.8 million.
Adoni Conrad Quenum
With the advent of high-speed internet, online gaming has seen global growth. In Africa, a surge in the market is evident, propelled by the young generation's enthusiasm for innovation and technology.
Fourteen African nations are vying for eFootball glory at the special edition of the Orange eSport Experience in Abidjan, Côte d'Ivoire, coinciding with the 2023 African Cup of Nations (AFCON).
The event, which ran from January 19 to 20, showcases the continent's rising eSports talent, with teams from Côte d'Ivoire, Cameroon, Guinea, Madagascar, Mali, Morocco, Democratic Republic of Congo, Senegal, Central African Republic, Sierra Leone, Benin, Ghana, Gabon, and Togo battling for the African champion title.
"The Orange eSport Experience is more than just a competition," said Brelotte Ba, Executive Vice President Orange Africa and Middle East. "It embodies our commitment to eSports in Africa and fostering opportunities for young talent. This special eFootball 2024 edition alongside AFCON 2023 underlines our long-term vision, where eSports becomes a driver of innovation, job creation, and outreach for African youth."
Orange's Long-Term Vision for African eSports
Since 2016, Orange Group has been a driving force in Africa's eSports landscape, organizing national and international competitions to unearth and nurture young talent. The company aims to equip young gamers with the skills needed to thrive in this evolving field, contributing to the overall development of the continent's eSports ecosystem.
Video gaming has transcended its entertainment roots, now offering career opportunities in fields like cybersecurity, artificial intelligence, and Open Innovation. The global eSports market exceeds $1 billion today, highlighting its immense potential.
Orange eSport Experience: A Platform for Talent and Innovation
Launched in 2018, the "Orange eSport Experience" has already seen four pan-African finals, showcasing the continent's burgeoning eSports talent.
"The Orange eSport Experience is where gaming passion meets sportsmanship, creating a captivating spectacle for players and fans alike," said Mamadou Bamba, CEO of Orange Côte d'Ivoire. "Our commitment to eSports extends beyond the event. By supporting this sector, we invest in the aspirations of African youth, stimulating creativity, inclusion, and the emergence of new talent."
Mobile money, alongside data, is propelling growth for African telecoms companies, but winning over new users with innovative offerings is the next big challenge.
Orange Madagascar is shaking up its mobile money service, Orange Money, with two innovations aimed at boosting accessibility and subscriber numbers.
The first move allows anyone, regardless of their mobile network provider, to open an Orange Money account via the "Orange Money Africa" app. This removes the previous barrier of needing an Orange SIM card.
Secondly, customers can now self-register for an account directly within the app, eliminating the need for in-person visits or paperwork. By entering personal information, uploading ID documents, and taking a photo, users can activate their accounts in real-time.
According to Frederic Debord, CEO of Orange Madagascar, the new process empowers customers and saves them time so they no longer have to wait in lines or fill out forms.
The simplified process grants immediate access to core Orange Money services, including cash deposits and withdrawals, low-cost money transfers, online and in-store payments, bill payments, and salary or international transfer receipts.
Orange Madagascar hopes these changes will attract new users, boost transaction volume, and ultimately, increase revenue. However, for access to the full range of services, enhanced security checks will be required.
In Senegal, road fines can now be paid online, thanks to a recent initiative by the General Directorate of Public Accounting and Treasury (DGCPT). Launched on January 18, the digital platform simplifies the fine collection process, enabling drivers to pay their fines quickly and on the spot, without having to visit police or gendarmerie stations.
Dz Hadina Tech is a key player in the field of innovation in Algeria and Africa. Through its programs and its support for startups, it contributes to the economic recovery of its country and the promotion of digital entrepreneurship.
Dz Hadina Tech, a digital incubator based in Algeria, fosters innovation across various fields by empowering young entrepreneurs with the tools and guidance to launch and grow their startups.
Founded by Chaouche Adlane, Benamar Abdelfatah, and Abdelkarim Chelali, the incubator currently sees Chelali serve as its managing director. Chelali, a graduate of the Ecole des Hautes Etudes Commerciales de Koléa specializing in finance and accounting, brings additional experience as a co-founder and finance and communications manager of AFPESS, an Algerian foundation that promotes entrepreneurship.
Dz Hadina Tech's comprehensive support system equips budding businesses with technical assistance, training sessions, expert advice, and dedicated mentors who help navigate potential pitfalls. The incubator's key initiatives include the Dz Excellence Camp and the Open Innovation Program.
Dz Excellence Camp serves as a national platform for young entrepreneurs, developers, and designers to hone their skills in innovation, creativity, and originality across diverse sectors within Algeria.
The Open Innovation Program facilitates collaboration and business partnerships between innovators, emerging companies, and established corporations. Utilizing challenge-based projects, the program provides vital support and guidance for innovative ventures, ultimately accelerating research and development efforts for participating companies.
Available statistics point to the incubator's impact, with over 300 startup applications received, more than 8 successful launches, over 20 professional opportunities created, and a current cohort of 15 incubated companies. These achievements illustrate Dz Hadina Tech's significant contribution to fostering innovation both within Algeria and across the African continent.
Melchior Koba
A serial entrepreneur, she is behind a startup that helps organizations design, launch, and manage innovative initiatives such as hackathons and creative competitions.
Sabrine Assem, a seasoned Egyptian entrepreneur with a passion for fostering innovation in Africa and smaller organizations, leads Untap, a platform democratizing access to talent and innovative solutions.
After graduating in 2010 with a Bachelor's degree in Innovation Management and Information Systems from the German University in Cairo, Assem further strengthened her expertise with a Master's in Information Systems and Digital Innovation from Warwick Business School in 2018, some two years after founding Untap.
Untap, founded by Assem in 2016, empowers organizations to manage diverse initiatives like innovation platforms, citizen engagement projects, open innovation challenges, hackathons, startup programs, creative competitions, and even scholarship and student competitions. Its core mission lies in uncovering valuable solutions, ideas, and talent.
"We created [a] software that enables organizations to easily and quickly plan, launch, and manage online innovation challenges, creative contests, hackathons, grants, scholarships, and anything that requires application handling," explained Assem in a 2022 interview.
Before Untap, Assem co-founded and led SolverMine (2011-2015), an online platform focused on open innovation in the Middle East. Her career journey began in 2010 as a teaching assistant at the German University in Cairo, followed by stints at Nutty Scientists (2013) as a management consultant and eSpace (2013) as a business development manager. From 2014 to 2016, she honed her entrepreneurial skills as a consultant and researcher at the German-Arab Chamber of Industry and Commerce (AHK Egypt).
Melchior Koba
Following a steep decline in venture capital (VC) funding for Africa's tech ecosystem in 2023, the United Nations Development Programme (UNDP) has partnered with African leaders to launch a new initiative aimed at revitalizing this critical sector.
The United Nations Development Programme (UNDP) unveiled a ground-breaking $1 billion initiative, Timbuktoo, at the World Economic Forum in Davos on Wednesday, January 17, aiming to empower African startups and transform millions of lives.
This pan-African fund seeks to mobilize and invest $1 billion in catalytic and commercial capital to unlock immense potential: transforming 100 million livelihoods and creating 10 million dignified new jobs across the continent.
"Timbuktoo is a new model of development. We are gathering key actors to push on all fronts at the same time. From startup-friendly legislation, global-class startup building, and de-risking capital to increase investment, to the UniPods – University Innovation Pods - across Africa, we aim to fill critical gaps and support the startup ecosystem," declared UNDP Administrator Achim Steiner.
Timbuktoo arrives at a crucial juncture. Recent data from CB Insights indicates a projected 40% decline in African tech ecosystem funding in 2023, reaching a meager $1.8 billion – the lowest since 2020. While this decline reflects a global trend, the UN agency is particularly concerned about Africa's unique challenges. These include the low global value of African startups (0.2%), the heavy dependence on foreign venture capital (89%), and the concentration of funding in just four countries – Nigeria, Kenya, South Africa, and Egypt.
Timbuktoo seeks to reshuffle the deck and ensure all young African tech talents have access to the resources they need. Rwandan President Paul Kagame emphasized this goal: "We cannot accept that another generation of African young people do not have the tools to reach their full potential. With Timbuktoo’s billion-dollar target, we can create more opportunities for Africa’s youth to put their talent and creativity to good use." President Kagame further announced a $3 million contribution to launch Timbuktoo's African Innovation Fund, to be headquartered in Kigali, Rwanda.
Adoni Conrad Quenum
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The South African online marketplace Zandaux is eying the entire continent but, its initial expansion efforts are targeted towards an East African nation.
South African e-commerce platform Zandaux announced its entry into Kenya on Wednesday, marking its first step in a broader expansion across the African continent. The company aims to connect African suppliers with a vast regional market, fostering business development and unlocking growth opportunities.
"Anything that has a market in Kenya will have a market on the entire African continent," remarked Zandaux CEO Franck Obambi Ngatse. "On Zandaux, you can buy something from a factory in Mombasa and have it shipped to Kinshasa. The payment is only released to the seller after the product has arrived, and we have a robust tracking system in place for products from seller to buyer."
This expansion coincides with Zandaux's current pursuit of 3 billion Kenyan shillings ($18.5 million) in funding to fuel its continental operations. Kenya is seen as a strategic gateway to other African markets, capitalizing on its established e-commerce infrastructure and growing consumer base. Statista projects the number of e-commerce users in Africa to reach 520 million by 2024, highlighting the immense potential for platform growth.
"The future is there, but all the actors need to come together. The fintech brings payment solutions, and the governments make sure that the e-commerce is complete perfectly or even drop down some barriers, especially when it comes to input," Obambi Ngatse emphasized.
Adoni Conrad Quenum
Softstart Business and Technology Incubator (Softstart BTI) provides a comprehensive environment for nurturing the growth of innovative digital companies on an international scale. Its support ecosystem goes beyond traditional incubation with its focus on tailored mentoring, expert advice, and robust networking opportunities.
Softstart Business and Technology Incubator (Softstart BTI), established in 2006, has carved a niche for itself as a leading technology business incubator in Johannesburg, South Africa. Born from the merger of Softstart Trust and Bodibeng Technology Incubator, it strives to empower digital entrepreneurs, aiming to become the top provider of incubation services in the region.
Backed by prominent institutions like the Council for Scientific and Industrial Research (CSIR), University of Pretoria (UP), Tshwane University of Technology (TUT), and the Small Enterprise Development Agency (SEDA), Softstart BTI fosters innovation and international competitiveness within its portfolio of digital businesses.
Its comprehensive support system features dedicated incubation space, alongside expert consulting and mentoring services. Clustering and networking opportunities further bolster budding firms, enabling them to thrive in a collaborative environment.
It also goes beyond simply providing physical space. Mentorship, coaching, training, and financial management are just a few of the diverse services offered. Access to resources and guidance from like-minded peers within the incubator empowers these startups to reach their full commercial potential.
Over 60 black-owned businesses operate within its physical center, while a network of over 100 off-campus and virtual ventures benefit from its services. Additional support and sponsorship come from the SEDA Technology Program (STP), solidifying its role in fostering South Africa's digital entrepreneurship landscape.
Melchior Koba
Nigeria: Aboyeji teams up with Koschitzky-Kimani to launch $750,000 accelerator for African startups
The lack of access to finance continues to be a significant hurdle for Africa's burgeoning startup ecosystem, hindering the continent's economic development potential. Despite a vibrant and growing entrepreneurial landscape, many promising startups struggle to secure the investments they need to scale up and thrive.
Nigerian tech entrepreneur Iyinoluwa Aboyeji (photo, left), co-founder of Andela and Flutterwave, has joined forces with Mia von Koschitzky-Kimani (photo), another experienced technology player, to launch Accelerate Africa, a new initiative aimed at fueling the growth of startups across the continent. The announcement was made in an exclusive interview with Techcabal.
The project, backed by a $750,000 grant from the United States Agency for International Development (USAID), will provide support to startups in all 54 African countries. The first cohort, consisting of ten pre-seed and early-stage companies from various sectors, will participate in an intensive eight-week program.
Combining elements of business development, technology integration, financing, and community building, the acceleration program will take place in both Lagos and Nairobi. Its goal is to empower African start-ups to scale faster and more sustainably.
At the program's culmination, the participating ventures will have the opportunity to pitch their projects to investors, including angel investors with the capacity to inject up to $500,000 into promising initiatives.
Aboyeji and von Koschitzky-Kimani's vision for Accelerate Africa is ambitious. They hope to unlock the vast potential of Africa's entrepreneurial spirit and support a significant number of promising start-ups, particularly at a time when international accelerator support is waning.
"The big idea is to become the Y Combinator (YC) of Africa," Aboyeji said, referring to the renowned American accelerator. "We are looking for founders with great ideas and massive market opportunities. The impressive ones who would have gotten into YC but can't because YC is closing their doors to Africa, so to speak."
Samira Njoya
In line with numerous nations, Nigeria is striving to establish itself as a leader in the global digital landscape. The government is collaborating with seasoned industry participants to realize this ambition.
Nigeria will launch the National Broadband Alliance (NBAN) in the first quarter of 2024, aiming to accelerate internet access rollout nationwide. The initiative targets eight states initially, including Edo, Ogun, Kwara, Katsina, Imo, Abia, Borno, and Nasarawa, seeking to address challenges hindering fiber optic network adoption and returns.
"The alliance will bring together key stakeholders from the public and private sectors, as well as civil society, to collaboratively develop a sustainable business model(s) for driving the adoption and consumption of internet in key critical public institutions (schools, hospitals, government offices, libraries and markets etc) across the nation," a government document revealed.
This project aligns with the government's digital inclusion goals, aiming to build a collaborative platform for technology players and share resources to support the national internet access program.
Nigeria's internet penetration currently stands at around 45.57%, with only 39% of the population within 5 kilometers of fiber optic networks, according to the Nigerian Communications Commission (NCC). The average download speed of 26.48 Mbps ranks the country 89th globally, highlighting the need for improved connectivity, particularly in rural areas. The NBAN aims to address these challenges by facilitating rapid broadband deployment, leveraging expertise and resources from partners and international organizations, and ensuring all segments of society participate in the digital economy.
Samira Njoya