- Africa’s tech sector can go global by allowing innovators to fail.
- Money going into African tech startups has grown 1,000% between 2015 and 2021.
- Nigeria has five of the continent’s seven tech unicorns.
Akintoye Akindele doesn’t fear failing to build a new Africa.
Akindele says changing Africa’s narrative requires solving old problems and using new technologies.
Before receiving the African Business Leader of the Year Award 2022 on Monday, Akindele told news reporters that tech will be Africa’s next big thing.
Akindele says Africa’s tech sector can go global by allowing innovators to fail.
African artists’ songs are topping the charts and being played at parties and nightclubs worldwide. Africa’s tech scene is gaining attention and investment.
The amount of money going into African tech startups has grown 1,000% between 2015 and 2021, according to a report.
564 African tech startups raised $2.1 billion in 2021, compared to 125 in 2015.
“Unicorns” have grown in Africa’s tech ecosystem. In Nigeria, home to five of the continent’s seven tech unicorns, these companies however still seen as Nigerian and African, not global.
Akindele said promoting African tech companies would be similar to promoting Afrobeats.
“Older guys” know how to build infrastructure for heavy industries, while “younger guys” build flexible businesses.
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In addition to food, infrastructure, energy, and transportation problems, “We match them with payments, robots, and health tech.
Akindele is “hopeful and confident” about Nigeria’s future despite its problems. “We’re stronger than we think”
Akindele and Olakunle Soriyan’s new book is “A Love Affair with Failure.” It was co-written.
Fear of failure prevents many from reaching their full potential, they say. If people don’t take risks, they won’t have new ideas to help Africa and the world grow.
