Business
Africa technology startups – Many solid ideas, but money is tight
Africa has huge potential when it comes to technology start-ups. IMAGE/stock.xchng
Industry analysts make an interesting point about fledgling technology businesses in Africa: unlike markets generally perceived to be more developed, like the US, where capital is available, but ideas are scarce – in Africa there are many solid business ideas, but money is tight.
The ICT sector in Africa is still regarded as attractive and potentially lucrative. Just on the mobility side alone Africa is reported to feature the world’s fastest growing mobile market, with the expectation that the number of active mobile users will grow to approximately 735 million and mobile penetration second only to Asia.
Businesses like MXit and TechCrunch stand out amongst the broad Africa technology startup company community. But, online research shows that the continent is not short of entrepreneurs willing to dabble in ICT. Names like Dropifi from Ghana, Pulse from Cameroon and Infomob from Nigeria also feature strongly.
Many of these startup companies have emerged from humble beginnings and have risen above challenges, including substantial overdrafts and lack of capital.
