![[Africa Tech Review] Duncan Mochama: Africa has very few support systems for aspiring local investors](Images/Key Persons/DuncanMochama-IncentroAfrica.JPG)
[Africa Tech Review] Duncan Mochama: Africa has very few support systems for aspiring local investors
While international interest is now putting African startups in the spotlight, there are still very few support systems for aspiring local investors and opportunities for young people to break into VC on the continent. This week, Dream VC, a Remote Venture Capital Upskilling Institute launched a new fellowship program dedicated to providing more access and opportunities to traditionally underrepresented individuals in the African venture capital space.
The four-month program will run from June to September 2021 and will place particular emphasis on young homegrown Africans and the diaspora.
This came at a time when the African tech accelerator AfricArena had just released a new report using Partech data which has forecast that venture capital funding for African startups will amount to between $2.25 billion and $2.8 billion this year, a record high for the continent. The Federal Development Ministry (BMZ) also announced that it has expanded its developPPP Ventures programme in Kenya to support local startups. Under this programme, selected startups that are helping to improve local people’s living conditions will receive a grant of up to 100,000 euros.
There were also a number of new appointments this week. Lori Systems, Africa's e-logistics platform announced the appointment of Uche Ogboi as its new Chief Executive Officer. Ogboi takes over from the company’s co-founder and outgoing CEO, Josh Sandler who will be moving on to serve as Executive Chairman of Lori’s board. Taxi hailing app Uber also announced the appointment of Saad Pall as the new General Manager for Uber across the Middle East, North Africa and Pakistan.
On matters telecos, Digital solutions provider Liquid Intelligent Technologies this week announced that it has achieved the 100,000 km fibre network milestone, positioning the organisation as the largest independent fibre network provider in emerging markets globally. In Kenya, Safaricom unveiled a new data campaign that will see customers enjoy free data every day for the next 90 days. In South Africa, MTN partnered with instant EFT solution provider Ozow to allow customers to purchase data and airtime through WhatsApp. Ericsson also launched Ericsson Private 5G which offers secure and simple 4G LTE and 5G Standalone (SA) connectivity primarily targeting but not limited to manufacturing, mining and process industry, offshore and power utilities, as well as ports and airports.
In South Africa, Samsung this week launched a new ‘Door to Door’ service in South Africa to offer customers a convenient, hassle-free smartphone repair service.
At its global SAPPHIRE NOW® conference, held this week, SAP SE also announced a bold vision to create new business communities able to improve business outcomes.
Other highlights of the week include Zoho announcing that Bigin, its pipeline-centric CRM for small businesses, had gained over 7500 customers in a year since its launch, Mastercard unveiling a new Carbon Calculator, a feature that provides access to insights and data about environmental impact and Cherie Blair Foundation for Women, DHL and AWIEF unveiling a business skills app targeting women entrepreneurs in Africa.
Duncan Mochama is the solutions consultant at Incentro Africa.
