Venture capital in Africa
Investment in African based start-ups is more likely to go to non-African founders. Why?
Funding for African tech start-ups is booming. But only if you’re not African. Odunayo Eweniyi, is the co-founder of the first online savings and investment app in West Africa, Piggyvest. She tells Tamasin Ford about how hard it was to convince Western based Venture Capitalists to invest in them. Jesse Ghansah, the Ghanaian Founder of the Fintech company, Swipe says as an African founder he’s still judged differently. Iyinolowa Aboyeji, who’s from Nigeria, set up a financing initiative called the Fund for Africa’s Future. He says rather than looking at the problem of foreign founders in Africa receiving more investment than African founders, people need to look at why it’s happening. And Adaeze Sokan, also based in, Nigeria, is the Director of Design and Strategy at Ventures Platform which is a funding initiative focused on Africa. She says that more start-up money needs to be aimed at women.