Africa: A Continent with huge economic potential

2023-12-20 21:25:00
Africa: A Continent with huge economic potential

Start-up businesses and innovation are soaring across Africa. With the world's second-largest continent looking towards the future, countries across the region are setting their sights on economic prosperity.

The Global Startup Africa Awards and Fund connect companies and investors across the continent. Founders of GIIG, the organisation behind this year's event, explained.

"It's very clear, and it has been very clear, that emerging markets continue to dominate global economic growth. The markets show the forecast until 2075 that population demographics are one of the fundamental key drivers of global growth. There is only one young continent, and that is Africa."

Trade Depot: $100 million mission to empower the small retail sector

Nigerian-based digital start-up Trade Depot raised over $100 million in 2021 and has been one of the success stories on the continent. Founder and CEO Onyekachi Izukanne says inventory and logistics technology is so important to African retailers.

" In Africa, the bulk of this retail doesn't happen in the big supermarkets. It happens in small neighbourhood stores. And our thing is to create an e-commerce experience for these retailers," Onyekachi Izukanne explained.

Source: Euronews


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