startup ecosystem - The African Mirror

Jan

2024

Fintech and energy illuminate DR Congo’s nascent startup ecosystem

THE Democratic Republic of Congo (DRC), one of the world’s most resource-rich countries, is carving out a new prosperity niche as it emerges on the global tech scene. Known for its green metals, cobalt and copper, and the world's second-largest rainforest, the newest member of the East African Community is having a moment in the startup ecosystem. In 2023 the country raised US$62 million in startup funds, making it the single largest contributor to startup funding growth (33% year-on-year) in the where it is clustered. “While being the only region to grow significantly, from $51m in 2022 to $68m in…

Mar

2023

By The African Mirror

Ivory Coast eyes startups growth with new legislation to support the sector

BUSINESS

BIRD STORY AGENCY IVORY Coast is positioning itself as a significant player in Africa's startup ecosystem with the introduction of a new legislative framework designed to support the country's entrepreneurs. The Ivorian Council of Ministers recently gave the nod to the Startup Act, a framework awaiting parliamentary approval. The proposed bill promises to revolutionise the digital startup landscape by providing crucial financing and support terms to bolster vulnerable enterprises' resilience. Other benefits the Act guarantees include a Startup Act award providing grants. Startups will also benefit from training, promotion, and access to public contracts and international markets. According to Florence…

Apr

2022

By The African Mirror

African start-ups net $1-billion in 3 months

BUSINESS

SETH ONYANGO, BIRD STORY AGENCY MONTH-ON-MONTH growth figures show Africa’s startup ecosystem continues to receive a funding frenzy as investors flock to the continent’s sizzling tech space. This comes as demand for tech solutions to power Africa’s fledging internet economy continues to grow. With 1.8 billion US dollars already invested in the first three months of 2022, Africa: The Big Deal projects it will only be days until the 2 billion mark is reached. “Compared to last year, there’s been 2.5x more funding raised in Q1-22 than in Q1-21. But, how is this funding distributed geographically? The ‘Big Four’ still…