The Africa Tech Summit Nairobi 2024 called for applications back in November 2023, igniting excitement and anticipation among African tech innovators and entrepreneurs. The summit, a beacon of innovation and collaboration, has now announced ten African tech ventures that will showcase their pioneering solutions at the prestigious Investment Showcase on February 14th and 15th.
Amid a challenging backdrop of declining startup funding in Africa, which saw a 39 per cent decrease in 2023, falling to $2.9 billion from $4.6 billion the previous year, this event emerges as a crucial platform for fostering growth and investment. These statistics, provided by Africa: The Big Deal, underscore the importance of initiatives like the Africa Tech Summit in bridging funding gaps and nurturing the entrepreneurial spirit in the continent.
The summit, which received over 250 entries from diverse countries including Kenya, Egypt, Tanzania, and Nigeria, among others, reflects the vast potential for innovation and partnerships within Africa. The ten ventures, selected for their groundbreaking work in fields such as fintech, agritech, e-commerce, Web3, and climate-tech, are seeking funding ranging from $500,000 to $15 million.
Among these is Node Bio from Kenya, a trailblazer in plant science, developing crop treatments to combat the effects of climate change. Their product, Farmchef, helps plants endure extreme weather conditions. Egypt’s Valu, a leading fintech platform, offers comprehensive financial solutions, embodying the innovative spirit of the MENA region.
Nigeria’s contribution includes Bingtellar, creating payment infrastructure for a global audience, and Dukka, digitizing financial solutions for small businesses across Africa. FutureLink Technologies from Uganda, winner of the Global SME Finance Platinum Award for Product Innovation in 2022, is revolutionizing financial access through its digital marketplace.
Kenya’s Tausi App is redefining beauty tech, connecting beauticians with potential customers, while Peercarbon, another Kenyan startup, leverages technology for sustainable finance, aiding SMEs in carbon footprint tracking. Feegor from Nigeria is transforming B2B e-commerce, linking SMEs to manufacturers and wholesalers.
Regxta, also from Nigeria, focuses on financial inclusion for underserved communities, including displaced persons and refugees. Lastly, URBANET from Kenya emphasizes international dialogue on sustainable urban development and governance.
Henry Umunnakwe, Ecosystems & Sales Manager of Africa Tech Summit, encapsulates the event’s spirit: “Amidst decreased funding for African startups in 2023, the resilient spirit of entrepreneurship continues to thrive. We are delighted to introduce these 10 pioneering ventures. Our goal is to spotlight and connect these ventures with global investors. We eagerly await over 1000 delegates to catalyse investments and further innovation throughout the continent.”
The summit not only highlights the resilience and innovation within the African tech ecosystem but also serves as a vital junction for connecting these ventures with potential investors and partners. It stands as a testament to the unyielding entrepreneurial spirit prevalent across the continent, promising to be a landmark event in driving forward technological innovation and economic growth in Africa.
For more information and to register for the Africa Tech Summit Nairobi, visit Africa Tech Summit Nairobi Registration.
