African tech start-ups faced funding gaps as well as other market failures

African tech start-ups faced funding gaps as well as other market failures

Technology has the potential to transform Sub-Saharan Africa for the better. However, this requires a thriving entrepreneurial ecosystem. Frontier has examined the barriers faced by tech start-ups in Sub-Saharan Africa for the Africa Technology Business Network (ATBN).

Drawing on qualitative engagement and existing evidence the report concludes that:

  • Additional capital is needed to help overcome significant funding gaps faced by tech start-ups in the region. Current shortfalls are exacerbating other barriers such as broadband availability and recruitment of highly skilled employees.
  • Extra funding alone is not sufficient to ensure more successful tech start-ups emerge from Sub-Saharan Africa. Some less experienced entrepreneurs also require guidance in navigating unfamiliar markets. There is an opportunity for them to learn from other start-ups via a mentoring system.

The report was launched today at a round-table event hosted by Frontier and attended by representatives from the public sector, start-ups, funders and tech hubs.

A summary of key findings are available for download below.

Frontier regularly collaborates with charities and charitable organisations in the UK and all over the world.

For more information, please contact [email protected], or call +44 (0)20 7031 7000.

 

 

Early stage investment in sub-Saharan Africa's tech sector