Can Africa start-ups sustain trends in VC funding?
With over seven billion dollars worth of private and venture capital deals reported in Africa in 2021, can start-ups in Africa continue to raise money amid the global slowdown? Adesuwa Okunbo Rhodes, the CEO of Aruwa Capital Management, joins CNBC Africa for more.
Thu, 30 Jun 2022 14:23:18 GMT
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AI Generated Summary
- Innovative solutions developed by African start-ups addressing real problems in key sectors such as healthcare, power, and financial inclusion.
- Emphasis on the importance of local investment and the need for African pension funds to actively participate in supporting the region's entrepreneurial landscape.
- Optimistic outlook for the rest of the year, with projections of potentially record-breaking funding raised by African start-ups and a focus on increasing the percentage of funding going to female entrepreneurs.
With over seven billion dollars worth of private and venture capital deals reported in Africa in 2021, the continent's start-up ecosystem is proving to be resilient and attractive to investors despite the global slowdown in funding. Adesuwa Okunbo Rhodes, the CEO of Aruwa Capital Management, recently discussed the sustainability of this trend in a CNBC Africa interview. She highlighted the innovative solutions being developed by African start-ups to address real problems in sectors such as healthcare, power, and financial inclusion. Rhodes also emphasized the importance of local investment and the need for African pension funds to actively participate in supporting the region's entrepreneurial landscape. She expressed optimism about the outlook for the rest of the year, projecting a potential record-breaking year in terms of funding raised by African start-ups. One key focus for Rhodes is increasing the percentage of funding going to female entrepreneurs, as she believes in the importance of gender diversity in driving the growth of the ecosystem.
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