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African Tech Startups to Enjoy $1b VC Investment

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By Dipo Olowookere

The value of venture capital investment is fuelling Africa’s emerging technology landscape. Whilst Kenya’s Silicon Savannah ecosystem has been at the forefront of the narrative over the past decade, the rise of infrastructure development opportunities within Northern Africa has become an increasingly attractive proposition to the Silicon Valley investment community. More tellingly, global technology entrepreneurs, the African Disapora, are starting to head home, or become dual-homed, hoping to find fruitful opportunities to launch new technology ventures in their native countries.

The drive for innovation is to support both economic and socio-economic development. Companies across the continent are developing new tech applications, adopting existing leapfrog technologies from other countries or modifying existing technologies to make them commercially viable in African markets. It’s about helping the local ecosystem thrive and fuelling job growth to foster innovation.

Algiers has been leading this drive, with several of Silicon Valley’s leading VCs heading to the upcoming Smart Cities Global Technology and Investment Summit on June 27-28 2018.

Paddy Ramanathan, Managing Director of IValley Innovation Centre is heading to the event with high hopes on building the next technology champions in Algiers, ‘Africa can adopt the Silicon Valley mantra of “learn fast” by working with start-ups to fast-track innovation and infrastructure development. Algiers is emerging as a truly viable market that is rewriting the rules of entrepreneurship. It’s enabling a new generation of investors to nurture a truly unique ecosystem.’

The growth in VC funding

Analysis by Crunchbase and TNA Analysis have shown that there was more than $400 million in VC funding for African startups in 2014, with the projection that there would be at least $1 billion in VC investment in Africa’s tech startups for the period 2012–2018.

All indications seem to point to a sustained growth over the foreseeable future. Companies across the continent are betting on leapfrog technologies utilising Blockchain and Artificial Intelligence to develop new tech applications to make them commercially viable in African markets.

Mehdi Sif, a Silicon Valley entrepreneur highlighted, ‘in this digitisation era, we have the opportunity to modernise, automate and transform and that entails tackling challenges at the crossroads of communications, information and operation technologies, spanning previously separate administrative domains, organizations and supply chains. The large number of Silicon Valley entrepreneurs converging on Algiers, is in a way, an illustration of that.’

Tailoring innovation models

However African countries have a different financial and entrepreneurial ecosystem than the US, particularly different from Silicon Valley’s. Adapting the innovation ecosystem to the specific context of African countries is of paramount importance.

A 2017 report by World Bank’s Vice President for Africa, Makhtar Diop, outlined that ‘to increase innovation capacity, African countries can invest in three aspects of innovation policy needs. The first include managerial and organisation capabilities. These come first because they allow organisations to adopt existing innovations and start collaborating and piggybacking on the advances of other countries. The second step involves building technological capabilities, so that countries may adapt and create more of their own innovations. And the third step involves investing longer term in technological programs.’

Kiran Inampudi from Alchemist Accelerator, stated, ‘it’s important for trade deals to invest within the local ecosystem, to allow knowledge and technology transfer, to improve skills and to provide jobs, to really get the benefit of the investment.’

Leveraging talent and the African diaspora

With over 30 million Africans living outside of their home countries the continent’s diaspora has the potential to be a major source of development financing and partnerships African investors are likely to be more socially conscious than their foreign counterparts due to social and cultural connections and their in-depth understanding of local contexts. They are also able to transfer of their technical expertise to bridge the skill gap in math, science, technology and engineering fields.

‘Silicon Valley is first and foremost about talent and everything runs around that’ said Dr. Riad Hartani, from Smart City Algiers. ‘As such, effective talent mobilisation is key to ensure success in fostering innovation. Algiers has set that as a goal and it demonstrates the opportunity that ambitious investors can take their knowledge and adapt this into the local ecosystem. This is one of the most crucial areas being debated at the Algiers Summit.’

The Algiers Smart City Project has also started to innovate from within. The Summit will be showcasing newly launched start-ups incubated by the Smart City Project. Ursiniaa, founded by Abderrahman Aitsaid, is in the process of developing IoT solutions for Smart City applications and believes that the project will be the start of a new Algeria. ‘Africa’s tech hubs are taking on many different characteristics. They’re a place where young students, engineers and entrepreneurs come together to uncover skill, energy, and innovating spirit. The key is to work together to make it happen.’ Dr. Amine Bouabdallah, CEO of Isiniaa, is in agreement. ‘Algiers Smart City is the first time that people across all horizons are coming together to ‘discuss the cities issues and how to connect with the global ecosystem to leapfrog the technology gap.’

The head of Smart City Algiers, Fatiha Slimani said, ‘to best leverage out Diaspora, policy makers have a prime role in identifying diaspora talent that have the prerequisites and be proactive in defining projects optimal for them to lead and develop. The Diaspora dimension is key and they shall be welcome to contribute to the development of their country.’

Dipo Olowookere is a journalist based in Nigeria that has passion for reporting business news stories. At his leisure time, he watches football and supports 3SC of Ibadan. Mr Olowookere can be reached via [email protected]

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Airtel Subscriber Base Crosses 650 million, Now World’s Second-Largest Telco

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Bharti Airtel

By Modupe Gbadeyanka

Bharti Airtel has crossed 650 million mobile subscribers worldwide to emerge as the world’s second-largest telecommunications firm.

The Indian company has operations in several countries, including Nigeria, where it has continued to scale infrastructure at a pace unmatched in its recent history.

Over the past three years, the telco has increased its national site count from just above 13,000 to nearly 17,200 sites, including more than 1,560 added in the last 12 months.

This expansion deepens capacity in high-demand corridors and extends high-speed coverage to previously underserved regions.

The latest industry data from the Nigerian Communications Commission (NCC) underscores the significance of this growth. As of December 2025, Nigeria recorded 145,141 base stations across 2G, 3G, 4G and 5G layers.

Of this national infrastructure, Airtel accounts for 46,918 base-station layers, reflecting its substantial contribution to the country’s radio access network and its push to absorb rising data consumption.

Nearly 99 per cent of Airtel Nigeria’s sites are now 4G-enabled, positioning the operator as one of the few with a near-ubiquitous high-speed broadband footprint. Thousands of sites have been upgraded for capacity in the past year alone, enabling improved speeds and more stable performance during peak usage.

That expansion underpins Nigeria’s rising internet adoption. According to the latest regulator figures, Nigeria’s internet penetration recently climbed above 50 per cent, with Airtel recording among the largest monthly increases in new internet subscribers, driven by network upgrades across states and rural corridors.

Strategic Connectivity and Redundancy

Airtel is also tackling a critical infrastructure challenge for the Nigerian digital economy: reliance on a single international internet gateway. The company is advancing plans for its second submarine cable internet breakout point at Kwa Ibo in Akwa Ibom State, early in the 2Africa cable system rollout, to provide faster and more resilient national connectivity across regions. This significant investment aligns with global best practices in network diversity and redundancy, ensuring a more stable digital experience for consumers and enterprises alike.

Digital Finance at Scale: SmartCash

Airtel’s digital finance arm, SmartCash, has gained traction in Nigeria’s competitive mobile money ecosystem, now serving over 3 million active users. The platform is supported by an expansive agent network and digital services that lower barriers for everyday financial transactions and savings.

Outstanding Human Touch: Retail Reach

Across Nigeria, Airtel’s retail distribution network stands as one of the sector’s most extensive, with approximately 4,000 exclusive outlets bringing services, support, and products closer to customers in small towns, communities, and high-traffic urban hubs. That footprint drives both access and engagement in a market where localised presence remains a competitive differentiator.

As Nigeria’s digital economy continues to evolve, Airtel is committed to sustained innovation — from expanded fibre backbones and advanced mobile broadband to future-ready services that include satellite-enabled solutions and enterprise-grade digital platforms. These efforts help ensure that connectivity, commerce, and creativity thrive across Nigeria and beyond.

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Nigeria to Launch NIGCOMSAT Satellites in 2028, 2029

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NIGCOMSAT Satellites

By Adedapo Adesanya

Nigeria has set 2028 and 2029 as the timeline for the deployment of its new satellites, NIGCOMSAT-2A and 2B, respectively.

The Managing Director of NIGCOMSAT, which is Nigerian Communications Satellite Limited and the premier satellite operator in Nigeria, Mrs Jane Nkechi Egerton-Idehen, disclosed this at the second Nigerian Satellite Week in Abuja on Monday. She noted that the development is expected to boost military intelligence, surveillance, and regional connectivity.

“For 2A and 2B, we have started the process. We have closed the tender and are now back into the financing and implementation stage. 2A is built to come up in 2028, and 2B for 2029.

“When they are up and running, they are expected to provide security within the borders and neighbouring countries. They will support the security agencies because data collection and intelligence in real time is important. Satellites like communication satellites allow that, irrespective of where they are,” she said.

In his remarks, the Minister of Communications and Digital Economy, Mr Bosun Tijani, said the satellites form part of the nation’s strategy to strengthen digital infrastructure.

Mr Tijani explained that the satellites will complement ongoing investments in 90,000 kilometres of fibre-optic cable and nearly 4,000 telecom towers, which are being rolled out nationwide and extended to neighbouring countries, including Cameroon, Niger, Chad, Burkina Faso, and the Republic of Benin.

He stressed that satellite technology is critical for national development, affecting education, agriculture, business, and emergency response.

“The president’s approval of NIGCOMSAT-2A and 2B demonstrates a clear commitment to building the future. These satellites will enhance security, connect remote communities, and extend our fibre-optic network into neighbouring countries,” he said.

“Some of these neighbouring countries pay up to ten times more for internet capacity than Lagos. Extending our fibre network will not only improve connectivity but also enhance border security and regional collaboration.

“Satellite technology affects everything, from how a child in a rural community accesses the internet to how farmers make critical decisions and how businesses operate across distance,” the Minister said.

Also speaking, the Chief of Army Staff (COAS), Lieutenant General Waidi Shaibu, welcomed the development, saying the military will leverage the satellites for operational efficiency.

“The Nigerian Army will continue to use space assets to improve intelligence gathering, surveillance, and operational coordination across all theatres of operation,” he said at the event, represented by Major General Kennedy Osemwegie, Commander of the Nigerian Army Cyber Warfare Command (NACWC).

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Interswitch, KCB Group to Deliver Innovative Financial Solutions in East Africa

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Interswitch KCB group

By Modupe Gbadeyanka

A partnership to advance digital payments and financial inclusion across East Africa has been strengthened between Interswitch and KCB Group.

Both parties have agreed to expand digital payment infrastructure and deliver innovative financial solutions that meet the evolving needs of individuals, businesses, and institutions across the region.

The aim is to accelerate seamless, secure, and inclusive digital payments in East Africa, where the leading Africa-focused integrated payments and digital commerce enabler, Interswitch, recently announced an expansion of Verve card acceptance footprint, leveraging its consolidated partnership with KCB Group, Kenya’s largest financial services group by assets, following a similar move in Uganda through the local KCB Franchise in February 2022.

During a recent executive engagement at KCB Group headquarters in Nairobi, the chief executive of Interswitch, Mr Mitchell Elegbe, held high-level discussions with KCB leadership, including its chief executive, Paul Russo.

At the core of the strengthened collaboration is the integration of Interswitch’s robust payment rails, card scheme, and emerging digital token solutions with KCB Group’s expansive regional footprint and trusted banking franchise.

This integration enables the acceptance of Verve cards and tokenised payment solutions across KCB’s extensive merchant point-of-sale network in Kenya and Uganda, significantly enhancing everyday usability for customers while strengthening KCB’s digitally driven retail payments offering.

The consolidated partnership is expected to drive increased merchant acquisition, improve interoperability across payment ecosystems, and expand access to secure, cashless transactions. It also reinforces both organisations’ shared objective of deepening financial inclusion and accelerating digital commerce across East Africa.

“Our collaboration with KCB Group represents a powerful alignment of vision and capability. By combining our technology-driven payment solutions with KCB’s strong regional presence, we are unlocking new opportunities to scale access, drive innovation, and deliver greater value to customers across East Africa,” Mr Elegbe stated.

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