ABO Capital optimistic of African start-up funding rebound

Startup funding in Africa experienced a significant drop of 57 per cent to $780 million in the first half of this year, leading to concerns about the investment landscape on the continent. Despite this decline, Zandre Campos, CEO of ABO Capital, remains optimistic about the future of startup funding in Africa. In an exclusive interview with CNBC Africa, Campos highlighted the reasons for his optimism and the sectors he believes present the best opportunities for investment. Campos emphasized the importance of education as a fundamental sector for development in Africa, stating that it lays the groundwork for success in other industries. Additionally, he pointed out the vast potential in the tech sector, describing it as a democratic and open world with significant growth opportunities in Africa. Campos also discussed the specific opportunities outside of the more prominent African countries like South Africa, Nigeria, and Kenya. He highlighted the diverse cultural and geographical landscape of the continent, noting that countries like Angola offer unique investment prospects due to their language, resources, and geographical features. With a focus on upskilling Africa's youth, Campos stressed the importance of education in driving growth and development across the continent. He shared his belief that investing in youth education is essential for nurturing the next generation of entrepreneurs and leaders in Africa, ultimately paving the way for a brighter future. Looking ahead, Campos expressed confidence in the potential for Africa's startup ecosystem to thrive, particularly by leveraging its youthful population and investing in critical sectors such as education and technology. As the continent continues to attract interest from investors globally, Campos sees a promising outlook for startup funding in Africa in the short and long term. In conclusion, despite the challenges posed by the initial drop in startup funding, Zandre Campos' positive outlook and strategic focus on education and technology underscore the potential for growth and innovation in Africa's entrepreneurial landscape.