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Pacer Ventures is well positioned to support the growth of startups within Sub-Saharan Africa. A combination of attributes enables our deal-flow sourcing and portfolio management which promise realistic returns to our investors.

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Tech Development in Africa

Tech Development in Africa

Today, technology is driving global growth; continents that were left behind in past stages of the industrial revolution are now thriving.

Africa is a continent endowed with countries rich in culture, natural and human resources. Each reacting differently to various conditions.

Technology appears to have prompted a similar reaction from these African countries. These countries are  quickly adjusting and reaping the rewards, while also constructing strong tech ecosystems, with access to mobile technologies and the internet has grown dramatically during the previous decade.

Now, young Africans are growing up in societies where the internet, social media, and belonging to global online communities are the norm. The rate of mobile phone penetration has helped drive this, while at the same time building a digital bridge that is bringing drastic but welcomed changes to the economic gap. 

As a result of this advancement, the continent has seen a diverse usage of technology and its use in various areas and businesses. There are e-learning sites and applications, as well as health tech and Fintech solutions.

Farmers are increasingly using technology to monitor soil sensors, utilize drones to distribute pesticides and conduct irrigation, and forecast climate change, among other things.

With the recent economic devastating impact of COVID-19, more developing technologies such as the Internet of Things (IoT), Artificial Intelligence, and Virtual Reality, among others, are becoming increasingly involved in delivering answers.

However, before Africa got to this technology level. It took a lot of conscious effort to get to where most countries are now while for some countries the process is still very much ongoing.

For example, Egypt, in the past, led innovative scientific inventions. This birthed the name Cradle of Civilization for the country. Having this foundation was a morale boost.

Egypt has seen fast technological growth, and it now boasts the top high-tech colleges creating digitally adept graduates. Egypt now boasts one of Africa’s fastest-growing digital technology industries, and its technology-enabled entrepreneurship center is thriving.

South Africa is another country whose technological advancement is worth noting. South Africa has shown to be a technological powerhouse to be reckoned with.  They have effectively incorporated emerging technology into their inventions, such as the usage of drones in mining and Fintech solutions. 

Another African country to consider is Nigeria, which, although having made significant technological advances, is currently dealing with adverse laws and restrictions that hinder the country’s future technological progress.

Nigeria boasts as one of the most tech-enabled startups in Africa, and it also has one of the top tech centers in Africa. Other African countries, meanwhile, are gradually but surely catching up in terms of technological progress.

Ghana, Kenya, Tanzania, Morocco among many others are exceeding expectations and building with technology. As a result, technological advancement is something to brag about in their own countries.

Conclusively, technology is here to stay in Africa. However, the development process varies between African countries. Nonetheless, despite these hierarchies of advancement, African tech growth will undoubtedly continue.