The success of fintechs in Africa didn&rsquo;t happen overnight. Like fintechs, Healthtechs operating in Africa know that there are no quick wins on the continent but it's well on its way to going viral. To overcome common obstacles in their path, the most successful startups in the sector like mPharma are laying down the path for others by adapting their business models to the unique needs and economic realities of the continent.&nbsp;
For example, mPharma's understanding of the variability between African markets has matched its value proposition to each market using a network of community pharmacies across regions. This has significantly increased access to primary healthcare service providers for millions of people residing in the region. By filling the access gap, the startup has been able to grow rapidly raking in over $65 million in funding.
A similar pattern is unfolding in other successful startups spurred by the impact of the COVID-19 pandemic. It has driven a critical change in the health tech sector as attention is now being given to innovations,&nbsp; technological advancements,&nbsp; globalization of health needs, favourable regulation, and solutions to infrastructure voids.
To achieve self-sustainability in the event of another global health crisis, African governments and health stakeholders are taking action through policies and product development. This has propagated several trends that would help accelerate the sector.
<h3>Trends accelerating the growth of health tech in Africa</h3>
Growing cashless economy
In Africa, less than 10% of transactions are made using electronic payment and most of its healthcare services are paid out of pocket. This means that the dropping of purchasing power across the continent due to the current economic climate has a significant impact on the sector.&nbsp;
On the other hand, this gap presents a new frontier for the healthcare sector and an opportunity for stakeholders and investors. Health techs have a large market opportunity to create new solutions that migrate Africa&rsquo;s population from cash-based to innovations that allow for better services like health insurance.
Fast growth in spending
The inability of users to pay for services is a leading cause for startups shutting their doors in Africa. The personal consumption expenditure (PCE) in Africa is currently low, at $1,505 per capita compared to $5,433 in Latin America and $49,423 in North America. Technext&rsquo;s Communication Manager,&nbsp;<a href="https://www.linkedin.com/in/oluwadamilare-akinpelu/" target="_blank" rel="noopener">Oluwadamilare Akinpelu</a>, sharing his insights on the health tech sector, expressed that the cost factor of using these health tech services is sometimes too high for an average Nigerian and this hinders their widespread adoption.
However, that is changing, according to reports Africa&rsquo;s spending capacity is forecasted to increase at a rate of 4.8% CAGR between 2020&ndash;2025. Also, with Africa&rsquo;s healthcare market being valued in the magnitude of billions of dollars and over a billion people spending regularly to access healthcare, Wella Health&rsquo;s founder,&nbsp;<a href="https://www.linkedin.com/in/ikpemeneto/" target="_blank" rel="noopener">Ikpeme Neto</a>&nbsp;believes that the demand for healthcare will never go away.
<blockquote>&ldquo;Over a billion people spend regularly to access healthcare so it is a lucrative area that isn't affected by seasonal demands or even purchasing power. The demand for healthcare never goes away.&rdquo; - Ikpeme Neto, Wella Health&rsquo;s founder</blockquote>
He, however, added that the main challenge and a huge potential for investors is the fragmentation of demand and supply in the sector. &ldquo;The challenge is in the fragmentation of demand and supply. Matching these effectively provides one of the largest opportunities for investors to make massive returns.&rdquo;
Digital penetration growth
Digital penetration in Africa is increasing exponentially, over 300 million people in Africa gained access to the internet between 2010 and 2019.&nbsp; Barriers to connectivity such as high data prices, and high device prices are constantly shrinking leading to higher penetration growth year on year. This offers the ability to blend technology with health care to drive future growth. It also opens the sector up to the use of healthcare products and services with advanced techs such as artificial intelligence, robotics, and 3D printing.&nbsp;&nbsp;&nbsp;
However, Technext&rsquo;s Damilare shares concerns about the low level of health literacy among the general population. He explains that this has led to reduced adoption of health technologies as citizens may not understand the benefits of health tech services or how to use them.
Urbanizing population
At 2.7%, Africa has the world&rsquo;s highest population growth rate. As Africa&rsquo;s population grows, so too does urbanization, and by 2045 it is estimated that more than 1 billion people in Africa will live in urbanized areas.&nbsp;
<a href="https://www.linkedin.com/in/adeniyi-adeyemi/" target="_blank" rel="noopener">Adeniyi Adeyemi</a>, a co-founder of APN-African Professional Network, believes access to Healthcare is a basic right that everyone should enjoy. Sadly, the African healthcare sector is heavily underfunded and unsurprisingly underdeveloped.&nbsp;
Like many investors prioritizing impact, Adeniyi is interested in any solutions that help solve Africa's healthcare problem for Africa&rsquo;s growing population. &ldquo;Even basic primary care which forms the bedrock of healthcare delivery globally is not organized, adequately spread around urban and rural areas and where available, not functioning properly. Any solution at all that bridges this gap at any level is very much of interest to me.&ldquo;
Young Today, Old Tomorrow
Africa&rsquo;s population has the youngest median age (20), a new generation of the young, urbanized and digitally-savvy population born in an era when digital technologies flourish.&nbsp; They provide a fast-growing customer base that is primed to adopt digital solutions to meet their healthcare needs.
On the other side, health care is a play on demographics and an ageing population. The high population of young Africa today means that there will be a high population of old citizens in future. As the generation ages the demand and spending on healthcare are likely to increase. Mature bodies need medical care to maintain their well-being, reports show that individuals 65 or older now account for 34% of the demand for physicians and by 2034 will account for 42%.
Increased funding for innovation
Startup funding in Africa is growing faster than in any other market, increasing by over 200% between 2020 and 2021. For the health tech sector, the COVID-19 pandemic further accelerated investment and digitalization trends as it is difficult to put a value on critical health needs like vaccines, cancer drugs and pacemakers.&nbsp;
Capital is becoming more readily available for entrepreneurs as investors are reminded of the importance and potential of innovation in health care. While most sectors dropped in venture capital funding in 2020 due to the pandemic, health tech funding grew by more than 250% up from $28.8 million raised in 2019.&nbsp;
For Investors still having doubts about investing in the sector, Fleri&rsquo;s CEO,&nbsp;<a href="https://www.linkedin.com/in/skbaddoo/" target="_blank" rel="noopener">Sam Baddoo</a>&nbsp;iterated the increasing focus on digital health solutions and new investment opportunities,&nbsp; in light of the recent pandemic. He added that the presence of a large, untapped market and the increase in government support for healthcare businesses provide a strong foundation for investment.
<blockquote>&ldquo;I would say that the potential for growth and impact in Africa's health tech sector, combined with a supportive environment, makes it a smart investment for those who are willing to take the risk.&rdquo; - Sam Badoo, founder &amp; ceo Fleri</blockquote>
These favourable tailwinds in the health sector point to the fact that the sector is primed for disruptive innovation, making it an attractive opportunity for foreign investors. Health care presents the opportunity to invest in companies that are constantly innovating to improve quality of life and raise productivity.
Globally, Health care continues to offer investors valuable long-term opportunity potential.&nbsp; We have seen health techs evolving to achieve scale. Similarly, in Africa young ventures are creating new opportunities for healthcare beyond the traditional pharmacy, insurance and health facilities. Examples are the likes of&nbsp;<a href="https://joinfleri.com/" target="_blank" rel="noopener">Fleri</a>&nbsp;and&nbsp;<a href="https://www.wellahealth.com/" target="_blank" rel="noopener">Wellahealth</a>, who are leveraging new and exciting opportunities at the intersection of health tech and fintech. The potential ahead is immense from data to medicine and technology the sector has a myriad of innovative solutions to solve the pain points of citizens. However, all stakeholders have a critical part to play in unlocking the next wave of growth - which has billion-dollar potential.

Africa

Healthtech

Fintech

The success of fintechs in Africa didn&rsquo;t happen overnight. Like fintechs, Healthtechs operating in Africa know that there are no quick wins on the continent but it's well on its way to going viral. To overcome common obstacles in their path, the most successful startups in the sector like mPharma are laying down the path for others by adapting their business models to the unique needs and ec

Healthtech rise follows the path laid by Fintech's boom in Africa

<header>
<h1 class="article-title">Why Africa&rsquo;s Health Sector will see the Next $Billion-Dollar Disruption</h1>
</header>
<section class="article-body" data-redirect-url="https://www.linkedin.com/login?session_redirect=https%3A%2F%2Fwww%2Elinkedin%2Ecom">
Just outside of Ibadan, the grief from the home of Joseph could be heard for miles. His daughter had a bad fall the week before but the town clinic lacked the necessary diagnostic equipment. Joseph couldn't afford the private clinics located in the larger city, so he gave her some pain medications. In the morning, he tried waking her but her body was cold and motionless. Her legs had become swollen and an internal bleed had resulted in a critical fever, which ultimately led to her death.
Her death could have been avoided. In Africa, many families like Joseph&rsquo;s suffer the avoidable pain of losing a loved one due to the lack of health infrastructure and services needed. The growing population and critical health crisis within the continent have raised the demand for better healthcare services higher than ever before.&nbsp;
However, a majority of its countries are unable to meet the basic requirement for good healthcare systems, with reports showing that less than half of African citizens (48%) have access to the healthcare they need. The ability of African countries to mobilise resources for the health sector is affected by a myriad of causes including low insurance penetration, inadequate economic performance, high levels of poverty and poor governance.
In the last decade, health tech startups have intensified efforts to remedy Africa&rsquo;s dilapidated healthcare system. Sharing his experience,&nbsp;<a href="https://www.linkedin.com/in/adeniyi-adeyemi/" target="_blank" rel="noopener">Adeniyi Adeyemi</a>, co-founder of APN-African Professional Network,&nbsp;says he hasn&rsquo;t witnessed a lot of changes in the traditional health sector but he has seen a lot in the digital tech space.&nbsp;
<blockquote>&ldquo;By traditional, I mean mostly the physical infrastructure. In the digital/tech space, a lot has definitely happened in the last few years and the signs are very encouraging. I&rsquo;ve seen digital doctor appointment bookings and digital consultation sessions&rdquo; - Adeniyi Adeyemi, product manager, Amazon &amp; co-founder of APN-African Professional Network</blockquote>
As expected, tech founders within the sector also see tech as the solution, Fleri&rsquo;s CEO,&nbsp;<a href="https://www.linkedin.com/in/skbaddoo/" target="_blank" rel="noopener">Sam Baddoo</a> believes the increasing need for accessible and affordable healthcare solutions, combined with advancements in technology, makes Africa a prime market for investment.&nbsp;
Wella Health&rsquo;s founder,&nbsp;<a href="https://www.linkedin.com/in/ikpemeneto/" target="_blank" rel="noopener">Ikpeme Neto</a>&nbsp;added that the contribution of health tech in Africa is still in its early days but it holds a huge potential for disruption. &ldquo;The sector is so traditional and poorly structured that disruption is not yet on the cards. Building the main infrastructure is still the focus.&rdquo;&nbsp;
Reports confirm that African health tech has already made significant inroads into the market, with over 562 health tech companies identified and a sector estimated to be worth more than $259 billion by 2030. According to Neto, the most successful innovation in the sector has been mobile authentication systems in drug supply chains with companies like Sproxil and mPedigree revolutionizing the space.
<blockquote>&ldquo;Counterfeit medicines were a problem for a long time but these days, no genuine medicine comes to market without a mobile authentication system attached.&rdquo; - Ikpeme Neto, Wella Health&rsquo;s founder</blockquote>
Adeniyi believes this is a game changer, he expressed that the personal experience of signing up his father to a healthcare program on a health tech platform has been positive so far. &ldquo;My personal experience of signing up my father to a health tech platform has been quite positive so far.&nbsp; I used Wella health to run a medical insurance program for a fraction of the annual spending of most people when they need medical attention. In a country where medical insurance is non-existent universally, at scale - and even where available, definitely not to most outside the middle class - I think this can be a game changer in years to come.&rdquo;
As digital adoption accelerates within the continent, the health tech sector is poised for more disruptive growth with tech providing more innovative solutions to unaddressed problems. Wella Health&rsquo;s CEO highlights that innovations around vendor-managed inventory and digitized drug purchases such as mPharma, Medsaf and DrugStoc, are gaining traction now and will prove key in the coming years.&nbsp;
This booming potential in Africa&rsquo;s health tech sector creates a lucrative opportunity for investors seeking out the next growth engine. Looking at current trends, Fleri&rsquo;s Sam revealed that there is a rise of non-communicable diseases changing the type of care that most Africans will require and will necessitate a much different type of investment to address.
Adeniyi, who invested in the sector through&nbsp;<a href="https://bantaba.com/" target="_blank" rel="noopener">Bantaba</a>, believes there&rsquo;s a lot that tech and digital platforms can enable in the health sector.&nbsp; He, however, added that more has to be done by, or in concert with other private and public health institutions to expand and improve on the healthcare real estate and processes in Africa
<blockquote>&ldquo;I would like to see the tech sector enabling growth while also helping address millions who typically don&rsquo;t interact with tech platforms but equally (or even chiefly) have a greater need for the most basic health services.&rdquo; - Adeniyi Adeyemi, Product manager, Amazon &amp; Co-Founder of APN-African Professional Network</blockquote>
Already, about half of Africa&rsquo;s health expenditure is funded by private sector entities and development partners across the world. Adeniyi believes that more partnerships might drive healthcare in Africa to the levels seen in the EU in the long term.
</section>


Why Africa&rsquo;s Health Sector will see the Next $Billion-Dollar Disruption


Just outside of Ibadan, the grief from the home of Joseph could be heard for miles. His daughter had a bad fall the week before but the town clinic lacked the necessary diagnostic equipment. Joseph couldn't afford the private clinics located in the larger city, so he gave her some pain medications. In the morning, he 

Why Africa’s Health Sector will see the Next $Billion-Dollar Disruption

After a record-breaking 2021, the energy in Africa&rsquo;s VC market was explosive going into 2022. During the first half of the year, VC flow was unstoppable reaching $3.1 billion, a figure which was more than the amount raised in H1&rsquo;2021 and H1&rsquo;2020 combined. At the same time, the Global VC flow slowdown was in full force, as activity declined to about 30%, with the US, Asia and Europe all recording decline.&nbsp;
The slowdown finally reach Africa in H2 as VC flow lost steam but never crashed. The continent was the only region to record positive yearly growth (+5%) as other regions across the world experienced a double-digit drop from -17% in Europe to -37% in North America and -39% in Asia Pacific. However, it's important to note that the region still has the least amount of funding raised, representing only 1.2% of all the start-up funding raised globally. All records broken At the end of the year, Africa broke all records in terms of funds raised, deals made and unique investors. It recorded 975+ deals of $100k or more bringing the total raised to $5.4billion, according to Briter reports. As investor interest mounted, 1,000+ unique investors participated in at least one deal, 15% higher than the previous year. Similar to patterns seen over the last couple of years, the continent&rsquo;s big 4 - Nigeria. Kenya. Egypt and South Africa remain favourites for investors. The top 4 alone accounted for 75% of all investments (both by amount raised and the number of deals) raised across the continent. Out of these deals, a vast majority was led by overseas investors but the presence of local VCs and investors also grew profoundly during the year.
Bad winds as Global markets suffer
The curves of VC flow started to take a negative turn sometime in June after falling stocks shook the market. This was followed by spikes in inflation and pricing crises, and waves of lay-off compounded by the Russian-Ukrain war. As a reaction, global Investors such as Tiger global slowed activities as financial losses created uncertainty and an urge for caution. The FTXs implosion and the turmoil that followed in the crypto space was the final nail in the coffin as all regions including Africa took a beating.
Despite the current economic climate, analysts at Briter argue that the continent's steady growth over the last 10 years shows that the world is looking at Africa as an increasingly viable investment destination. As the market recovered from the slowdown of the COVID pandemic, they argue that the focus on short-term events such as the crash of the crypto market should not be exaggerated.&nbsp;
Do you agree? Following new and upcoming trends in the ecosystem, here are some insights that can help better understand the African Market. Slashed valuation
As negative winds in the ecosystem grew worse, VCs became more reluctant to accept high valuations. This caused several startups willing to raise funds to slash valuations. For example, African fintech unicorn, Chipper Cash saw its valuation slashed by 37.5 from $2 billion to $1.25 billion even before FTX&rsquo;s bankruptcy. The startup received an additional $35 million in SAFE from FTX at a $1.25 billion valuation after raising $150 million at a valuation of $2 billion in 2021.
Similarly, Nigerian health tech 54gene dropped its valuation by two-thirds, from $170 million during its $25M Series B to about $50 million in a bridge round involving its lead investors. The startups dwindling revenue and accusation of financial impropriety were labelled as the leading cause. 
Booming debt funding As equity funding became harder to come and a growing reluctance to incur huge valuation slashes, more African startups turned to debt funding. The total debt funding raised in the continent doubled to $1.5 billion, nearly a quarter of the total amount raised, according to Patrtech Africa. Kenya dominated debt funding to African startups with $608 million from 15 debt funding rounds in 2022. Egypt came in second, with its startups raising $350 million, while Nigeria completed the top 3 with $252 million raised during the year.
As a sign of growth and maturity in the ecosystem, the startups that raised debt funds were across at least 9 sectors. However, two sectors &ndash; fintech (45%) and cleantech (39%) were responsible for 84% of debt funding across the continent. The most active sources of debt funding on the continent were Lendable (7+), Symbiotics (7+), Cauris (3+), Contact Financial (3+), FMO (3+), Oikocredit (3+), and Verdant Capital (3+). Africa&rsquo;s most active VC - Y Combinator and Launch Africa
For the first time, Africa saw over 1,000 unique investors cementing the growing global interest in African start-ups. Similarly, the commitment by investors also grew as at least 335 investors participated in two or more deals, while 89 participated in 5 or more deals compared to 65 investors in 2021.
Y Combinator and Launch Africa remain Africa&rsquo;s most active VCs after maintaining their level of activity from the previous year as part of the 8 investors that did more than 15 deals in 2022. The most active seed-stage investors were involved in more than 10 deals, while the most active venture stage completed over 6 deals. Impressively, local investors saw good representation across early-stage and later-stage deals with Future Africa, Ingressive Capital, and Voltron Capital, among the most prolific.
More diversification but Fintech is still king&nbsp;
Fintech remains the top preferred sector with one-third of the total funds during the year. This reflects the broader funding flows across the continent for the last 5 years, with 56% contribution in 2021 and 38% in 2022. However, relatively speaking it was the biggest loss during the year, with a -18% loss in share of funding while other sectors such as cleantech, mobility and logistics saw growth between 2021 and 2022.
These sectors were able to consolidate their share of the funding raised and improve the diversification of funding on the continent. For instance, Deeptech raised more funding in 2022 than it did in 2021 driven by InstaDeep&rsquo;s $100m raise in January and Mobility doubled the amount it raised to 8% driven by the $150+M raised by Moove in 2022.
Finally, it is worth noting that understanding the ripple effect of the trends - layoffs, bridge rounds and shutdowns, that picked up at the end of 2022 is important. For example, Mega-rounds are expected to be scarce in 2023, as only 6 mega-rounds were closed last year (all in the first six months), half of the number of such deals closed in 2021. Similarly, other trends such as boom debt funds and the rising number of investors can reveal new growth paths for African startups as the operating environment for startups is expected to worsen this year.

fundrasing

Africa report

After a record-breaking 2021, the energy in Africa&rsquo;s VC market was explosive going into 2022. During the first half of the year, VC flow was unstoppable reaching $3.1 billion, a figure which was more than the amount raised in H1&rsquo;2021 and H1&rsquo;2020 combined. At the same time, the Global VC flow slowdown was in full force, as activity declined to about 30%, with the US, Asia and Euro

Slashed valuation, Boom in debt funding and Resilient growth: Tales of Africa’s VC Market in 2022

Growth and profitability are essential to a company's existence, but the real question is: which should a company prioritize first? At some point, every entrepreneur is faced with this strategic question. However, since every company is different, the chosen answer differs.
A corporation must be profitable in order to survive, but growth is also essential for long-term survival. In a perfect world, the two would coexist, but in practice, fledgling startup companies may initially find it challenging to strike a happy balance between the two objectives, instead, it is forced to favour one over the other.
So how do you address this decision, as an entrepreneur? Below is the opinion of a seasoned investor and entrepreneur in the <a href="https://www.bantaba.com/">Bantaba community</a>. Let&rsquo;s start by highlighting the key points to understand about the two concepts.
Profitability is the phrase used to describe the net profit or income that is obtained after all costs associated with the business have been subtracted. In essence, it is earned money for the company's owners or shareholders. It can be invested back into the business for expansion or growth.
Growth on the other hand is the pathway to profit. It refers to the company's gradual growth through time, which effectively makes it bigger while also raising its market value and overall degree of profitability.
Knowing the present condition of any company is essential to creating a successful strategy. For companies that are in niche markets, it might be beneficial to prioritize growth. This means spending more on research and development, marketing and sales. This is so that you set the bar for yourself, one that when other entrants into the market come in, you already have a huge market share. For such spaces, if you prioritize profits, you might get knocked off by competitors who get their products/services in the eyes of more consumers.
<img style="display: block; margin-left: auto; margin-right: auto;" src="https://res.cloudinary.com/bantaba/image/upload/v1673541526/blog/sahjvjdhva_hemuhn.jpg" alt="" width="512" height="291" />
If you play in a not-so-unique/saturated market, it may be advisable to prioritize profit. At this point, you have to balance your expenditures such that you are not spending too heavily on overhead costs but you are also spending enough to be able to compete, offering competitive pricing and offer higher value. This will allow you enough cash to spend on finding other opportunities in the space.
Also, if you have enough capital or venture capitalist funds, you can prioritize growth. There&rsquo;s a very good chance you see higher profitability if you capture enough of the market. On the other hand, if you are running your startup on a tight budget, it will make more sense to prioritize profit in the nearest possible time so as to avoid your startup heading for the rocks.
Irrespective of the model you choose, you also need to fix your internal operations. Ensure customer service and product, and service delivery processes are up to par. These will help speed up whichever model you decide to work with.
It&rsquo;s good to grow, but also you need to make enough money to keep the lights on for years to come. As such, irrespective of the business model you choose, it should be one that accommodates for you to scale and also to be profitable and you can switch focus when necessary.&nbsp;
If you are a budding entrepreneur, fear not, there are communities like <a href="https://www.bantaba.com/">Bantaba</a> that can connect you with experienced entrepreneurs and mentors that can help find clarity for the business model you plan to use for your startup.

Startups in Africa

Growth vs Profitability

Growth and profitability are essential to a company's existence, but the real question is: which should a company prioritize first? At some point, every entrepreneur is faced with this strategic question. However, since every company is different, the chosen answer differs.
A corporation must be profitable in order to survive, but growth is also essential for long-term survival. In a perfect world

Profit vs Growth: An Investor's Opinion on The Right Strategy For Your Startup

<a href="https://www.linkedin.com/in/kellymsinclair/">Kelly Sinclair</a> has always been passionate about Africa and its potential. She founded KV Africa (Kairos Ventures Africa), a startup consultancy to unlock the potential of African tech startups by helping them navigate the earliest stages of growth and avoid many of the costly mistakes that prevent success. Together with her team, Kelly focuses on building startups to the point needed to be to attract and engage investors.&nbsp;
In an interview with Bantaba, Kelly shares how her experience in business development, strategic planning &amp; sales has led to her working with startups for the last 7 years+. She also shares insights on the ecosystem and how platforms like Bantaba have helped find high-growth startups.&nbsp;
&ldquo;We are big on knowledge sharing and unlocking the candid truths about raising funds&rdquo;
Finding the unicorn potential in the sea of startups In Africa, it&rsquo;s easy to connect with startups because so many people are building tech products they think will fill a gap in the market. However, Kelly explained that connecting with startups that are well-orchestrated, well-run and with a real market opportunity is harder. She added that learning to analyse startups well before engaging was important. &ldquo;In our position, we have to learn how to analyse these things well before engaging. It&rsquo;s not so different from here in the UK where there are tech platforms and communities all around, in Africa, there are just fewer of them and the quality control is not as good as it could be.&rdquo; Asked what her hack to finding and connecting with innovative and disruptive African startups was. Kelly explained that asking the right questions from the outset and doing your personal market research of the market was important to ensure that the solution fits a real need. &ldquo;That&rsquo;s where everything begins.&rdquo;
Bantaba the unique piece Kelly added that Bantaba has been very useful in helping her team find new and exciting startups that they could support.&nbsp; &ldquo;The interface is user-friendly so it&rsquo;s not difficult to search, analyse and engage all from the platform. It&rsquo;s very useful especially because it highlights those that are fundraising.&rdquo;
She added that it has been easy to build relationships with startups on the platforms. &ldquo;Typically we search by region and when we see startups that we&rsquo;re interested in knowing more about we will engage them via the chat function and set up a meeting.&rdquo;
Helping startups raise funds
Speaking on some of their recent fundraising efforts for startups using leads from Bantaba, Kelly revealed that she connected with a great founder whom they are currently helping to raise his pre-seed round with 70% of the funds already committed.&nbsp;
Paul Nnaluo, the founder of Gasmonkey (A startup on Bantaba) had a lot to say about Kelly's efforts in the growth of his startup. &ldquo; Kelly is the filter by which we filter our growth actions, from the noise of starting a business to being ready and attractive for financial investment. She listened through the crazy and anxious moments and point us in the right direction. We were having too much trash at the time we met Kelly, that we nearly lost our gold in the dirt but she tasked me to bring out the best in my team. She is a kind personality and dedicated growth expert. &rdquo;
Africa is ready to take off
To round off the interview, kelly shared her insights on the potential of Africa. She was candid in her projections, she revealed that she was not sure if Africa is the last high-growth market but it&rsquo;s definitely the most well-positioned for takeoff at present. She added that with the right resources will have a tech ecosystem that rivals the west.
&ldquo;I always say that the head has not yet been crowned - meaning that we have only just begun to see what could be. With more resources and infrastructure I believe that Africa will have a tech ecosystem that rivals the west. However there is a big push on founders to raise the quality of their research, data analysis, business acumen and strategy development in order to really get to the next level because building something that can be improved with greater knowledge and with experience, has to be the intent from the beginning to that end.&rdquo; Kelly concluded that the quality of research, data analysis, business acumen and strategy development needs to be improved in order to really get Africa to the next level. Bantaba&rsquo;s community platform helps startups solve some of the issues Kelly raised, by connecting them to experienced personnel among other offerings on the platform. If you are an African startup join the <a href="https://www.bantaba.com/">community</a> and start enjoying these benefits.

Startups

ecosystem

Kelly Sinclair has always been passionate about Africa and its potential. She founded KV Africa (Kairos Ventures Africa), a startup consultancy to unlock the potential of African tech startups by helping them navigate the earliest stages of growth and avoid many of the costly mistakes that prevent success. Together with her team, Kelly focuses on building startups to the point needed to be to attr

“Africa will have a tech ecosystem that rivals the west” Kelly Sinclair speaks on using Bantaba to find African startups ready for their first funding

<h5>New Features and Enhancements&nbsp;</h5>
We&rsquo;ve created several new features to enhance your experience on your favourite platform Bantaba. The features include all-new personalization features like message notification&nbsp;and media uploader. A better and seamless way to communicate and share with the upgraded Post feed. That&rsquo;s not all, we took it a step further to introduce Startup verification for startups and, Pitch deck requests for mentors and investors. <a href="https://community.ourbantaba.com/en/login">Login</a> and be the first to try them out!
1. Enter the spotlight when you get verified (desktop-only feature)
On November 10, we are rolling out our most anticipated feature startup verification. Over the past year, our startup community has grown to about 300. This means increased competition for diaspora investors' and experts' attention. We are introducing the verification feature with unique perks that helps your startups stand out. Verifying means that you can have a verified tag on your startup profile and this gives diaspora investors and experts confidence to interact with your startup.
Does it cost anything to get verified on Bantaba? No, our verification service is offered free of charge.
How it works: As a startup, when you go to your profile, you will see a &ldquo;Get verified&rdquo; tag that you can click to start the process of verification. It requests your business registration, an up-to-date pitch deck, and the profile of at least one founder. After submission, Bantaba will review it and notify you back via email once it&rsquo;s completed. If the verification is successful, you will have a &ldquo;verified&rdquo; tag on your profile, but if the verification is not successful, you will receive feedback on updates needed before verification can be granted.&nbsp;
Once you are verified, your startup data room will be unlocked where you will be able to see requests from diaspora professionals interested in your pitch deck. In the data room, you will be able to grant or refuse access to professionals who have requested to view your pitch deck.
<img style="display: block; margin-left: auto; margin-right: auto;" src="https://res.cloudinary.com/bantaba/image/upload/v1669033594/blog/900x900_vsxtsa.png" alt="" width="677" height="677" />
2. Learn more about African startups with pitch deck requests (desktop-only feature)
Built to give you more information on a startup's business, &lsquo;Pitch deck requests&rsquo; gives the diaspora community a quick and efficient way to learn more about a startup without meetings or calls. By visiting a startup page and requesting to view their pitch deck you can understand if a startup matches your interest for either knowledge sharing or investment. Also, you get an exclusive and up-close peek at the progress of startups you are interested in.
How it works:&nbsp; Once you have made your request, the startup will be notified and will decide whether or not to give you access to its pitch deck. Depending on the decision made by the startup, you will be notified. If you have been granted access to view the pitch deck, you will find the deck available for viewing on the top right corner of your profile page.
<img style="display: block; margin-left: auto; margin-right: auto;" src="https://res.cloudinary.com/bantaba/image/upload/v1669033593/blog/1080x1300_msv9ux.png" alt="" width="655" height="788" /> 3. Messaging and Media made better 
This year, we start working on unique upgrades to the community platform. The first of which was to make sharing thoughts about tech in Africa pleasant and easier. The newest post-feed upgrade gives you all these and more. With an optimised view and improved interface, you can now send messages quickly at the speed of a tap.
We didn&rsquo;t stop there, the next feature that got an upgrade was the profile picture. We tuned up the quality and resolution of the media share to give you better picture quality and enhanced your experience on the platform. <img style="display: block; margin-left: auto; margin-right: auto;" src="https://res.cloudinary.com/bantaba/image/upload/v1669033594/blog/1080x1080_sorh9t.png" alt="" width="602" height="602" /> 4. Email &amp; Activity notifications: Never miss important messages again
With tons of messages from many apps on your phone, it&rsquo;s easy for important information to get lost. Now, you can get notifications in your email app when you have new messages on the platform when you get messages from your connection and connection requests from the community. This way you can stay one step ahead and react in real-time when opportunities come your way. That&rsquo;s not all, we have also enhanced the activity feature. We have given your notification bar a new look to make it easier for you to navigate through 'activity' on your profile. You can just tap on the &lsquo;notification bell when you want to revisit a comment or message, like your new connection or a post you liked a few days ago.

Diaspora

Bantaba

Investors

startup

New Features and Enhancements&nbsp;
We&rsquo;ve created several new features to enhance your experience on your favourite platform Bantaba. The features include all-new personalization features like message notification&nbsp;and media uploader. A better and seamless way to communicate and share with the upgraded Post feed. That&rsquo;s not all, we took it a step further to introduce Startup verifi

5 New upgrades on Bantaba: Startup verification, Pitch Deck request & more now available

In the business world, it is often said that a company's location has a significant impact on its success. In other words, choosing the appropriate country or city to launch might be the difference between the success and failure of a startup
This is because vibrant startup ecosystems have the necessary support for founders to launch their solutions. They provide benefits like a booming market, flexible regulations and access to a rich pool of talent and angel investors. It's no coincidence that Silicon Valley in San Francisco, USA, has continually churned out successful companies.
Africa is not left behind. We have vibrant and fast-growing startup ecosystems. Are you a startup founder or investor? Here are the top 5 fastest growing startup ecosystems in Africa&nbsp;
South Africa
One of the most promising startup ecosystems on the continent is that of South Africa. With economically prosperous cities like Cape Town and Johannesburg, South Africa boasts a thriving startup environment that is primarily driven by the private sector.
Cape Town in particular has emerged as a strong tech hub, attracting direct foreign investment as well as talent from around the country. The city is home to almost two-thirds of all startups in South Africa. A major milestone for this country is the coming together of a network of startup ecosystem stakeholders to create the South African Startup Act.
Nigeria
With a massive consumer market of about 200 million, Nigeria and its capital, Lagos, have become one of the largest startup hubs in Africa. The country now tops the unicorn charts with companies such as Interswitch, Andela, Flutterwave, and OPay. Nigeria is catching on to the massive potential of startups to transform Nigeria&rsquo;s economy. The Nigeria Startup Bill has also been passed to allow the country to have a clear legal framework for developing its ecosystems.
Across Africa, the country attracts the most funding and investment, and this is not looking to end soon, as about $1 billion has been raised by startups in the country so far this year. Also, the country is attracting international recognition with its success stories, and investment and innovation are bound to increase. <img style="display: block; margin-left: auto; margin-right: auto;" src="https://res.cloudinary.com/bantaba/image/upload/v1668528252/blog/linkedin-sales-solutions--AXDunSs-n4-unsplash_neq1uo.jpg" alt="" width="567" height="378" /> 
Kenya Nairobi is home to global tech giants like Google, Microsoft, Samsung, and Intel, which makes the city more attractive to tech startups. It&rsquo;s also one of the top places for investors in Africa in terms of garnering capital for businesses. In 2021, the number of tech startups raising funds in Kenya was on the rise, with several startups securing solid investments. This has created a growing ecosystem of funded startups, with a few already touted to be on track to become unicorns.
Asides from funds, the country also have startup-friendly regulation. The Kenyan public sector has been involved in startup ecosystem development since the 2013 launch of Konza Technopolis, a tech hub built outside of Nairobi. It has also passed its work-up Bill, which has helped to establish a new framework for entrepreneurship in Kenya.
Egypt
Egypt has historically had a robust business culture, and its startup environment is showing this. Egypt&rsquo;s startup ecosystem is one of the strongest in Africa and displays great potential, especially in Cairo and Alexandria. Egypt also offers entrepreneurs access to skilled and affordable talent.
Funding and friendly startup policies have also been on the rise recently. In fact, in 2021, it had its own unicorn startup in Fawry, an e-payment startup. The country has several VC firms and government support initiatives offering funding to startups, and these have had a positive effect, resulting in the rise of the tech sector. <img style="display: block; margin-left: auto; margin-right: auto;" src="https://res.cloudinary.com/bantaba/image/upload/v1668528251/blog/nile-river-gaef33eab3_1920_wintwq.jpg" alt="" width="561" height="374" /> 
Rwanda
An encouraging example of a nation that rose above expectations is Rwanda. Taking the world by storm, the country has recovered to become one of Africa's most prosperous and well-run economies. The Rwandan startup scene is notable for frequently making the news, and it is also a country with the mission to become the tech hub of Africa. The country is also known for its ease of doing business and its high quality of life.&nbsp;
The country&rsquo;s entrepreneur visas for ICT startups have made Rwanda an attractive relocation spot for digital nomads to stay and work. These innovative government initiatives aimed at developing the country&rsquo;s startup scene have spurred the growth of the eastern African nation.
Other prominent startup ecosystems in Africa include Mauritius, Morroco, Cape Verde, Ghana, Tunisia, and Senegal. If you want to take the next step to understand how to launch a business or invest in a startup in this ecosystem, there are platforms like <a href="https://bantaba.com/">Bantaba</a> that can help you achieve that. There are communities of startup founders and entrepreneurs you can meet on the platform. You can also connect with investors willing to invest in Africa.

South Africa

Nigeria

Startup 

Rwanda

Ecosystem

Egypt

Kenya

Funding

In the business world, it is often said that a company's location has a significant impact on its success. In other words, choosing the appropriate country or city to launch might be the difference between the success and failure of a startup
This is because vibrant startup ecosystems have the necessary support for founders to launch their solutions. They provide benefits like a booming market, fl

SA, Nigeria & Egypt: 5 fastest growing startup ecosystems in Africa

&nbsp;
Winter has come.
It's not that kind of winter with storms and knee-high snow, but an economic winter. A disruptive storm has hit the global economy causing most sectors to slow down. The crash was triggered by several factors including the COVID-19 lockdowns, unexpected inflation, concerns about recession, the Russian-Ukraine war, and the crash of cryptocurrency markets. With severe macroeconomic dislocations, increased costs and scarcity spreading, people are thinking twice before putting money into new ventures.
Startups and tech companies are not excluded from these hits. Venture funding is slowing down globally, and big venture capital firms are adjusting their strategies. This is as venture capitalists are taking cues from the public market. A fall in the value of public companies leads to a fall in the valuations of late-stage companies, which leads to a fall in early-stage valuations.
Admittedly, late-stage companies feel the brunt more, but investors also begin to question the numbers of early-stage companies and get more sceptical. The African tech sector has recorded exponential growth in the past five years, with start-ups raising almost $5 billion in 2021. The first quarter of 2022 followed the same pattern, with total VC funding in Africa standing at $1.8 billion, thanks to large transactions such as Flutterwave raising $250 million, Logistics company, Moove raising $105 million, Wasoko $125 million, and InstaDeep raising $100 million.
In Q2, startups on the continent raised $1.3 billion, a little less than in Q1 but still the strongest Q2 ever on the continent. But some stakeholders are speculating about a possible funding crunch for African startups.
This seemingly raises concerns for the future of Africa's start-up ecosystem and funding.
Growth-stage deals in Africa have largely been funded by foreign investors, and the effects of the downturn are likely to affect their willingness to invest as they are backed by big corporates and pension funds. Historically, foreign investment in Africa takes a hit during a global recession.
On the flip side, a significant number of the investments that come into Africa are from developmental financial institutions (DFIs) and sovereign wealth funds, whose goals are to scale up and develop and are not perturbed by market trends.
However, this means that startups will face stiff competition, and only the best businesses will receive funding. Due diligence will be conducted more rigorously as a result, which will increase turnaround time for founders.
This is already being felt. In the last few months, startups like Kenya&rsquo;s Kune have shut down, citing economic reasons and the inability to raise funds as reasons. Startups like Nigerian fintech, Alerzo, healthtech and genomics startup, 54 Gene and Ghana&rsquo;s Viamo are reported to have laid off staff. Others, like investment platform GetEquity, have had to slash staff salaries, and Moneymie has had to restructure its offerings.
These are the latest disclosed in the wave of shutdowns and layoffs affecting startups.
One thing is certain: investments in African startups do not simply result in asset value inflation because these startups solve real-world problems. This means the return potential for African startup investing is still there regardless of market trends.
However, it would be foolish to try to avoid the trends. As a result, founders who are raising money or trying to launch a business should be adaptable and amenable to price negotiations. Additionally, entrepreneurs should attempt to end their fundraisers as soon as they have enough to continue operating for the next two years. Platforms like Bantaba that connect founders to investors will do well here as you get the best support to raise the needed funds. For founders who aren't raising money right now, attempt to manage your company as if you won't be able to in the next 2 years. Pay special attention to cost-and revenue-saving measures.
The boom of 2020&ndash;2021 may have given founders the impression that starting a business and fundraising was a walk in the park, but it&rsquo;s not about to be. But brace up, the storm will soon be over.

Investment slowdown

Funding in Africa

&nbsp;
Winter has come.
It's not that kind of winter with storms and knee-high snow, but an economic winter. A disruptive storm has hit the global economy causing most sectors to slow down. The crash was triggered by several factors including the COVID-19 lockdowns, unexpected inflation, concerns about recession, the Russian-Ukraine war, and the crash of cryptocurrency markets. With severe macroec

Effects of investment slowdown on African startups: The Good, Bad and Ugly

Investing in startups can be even more lucrative than investing in the stock market. In fact, reports show that well-positioned portfolios produce over 200% return on investment within a 4-year period (i.e. $10,000 invested, would return $25,000). Profits like these easily exceed returns from stock market investments.
&nbsp;
However, investing in startups is high-risk and making money can be tricky. Understanding basic principles and best practices about startup investing greatly increases your profit chances. In this post, we will be explaining some processes needed to set you on the money-making track.&nbsp;
&nbsp;
For starters, getting into startup investing (angel investor) is not complicated. Contrary to some beliefs success is not about being lucky or dependent on being skilled at picking companies that produce 100% return. Rather, it's about creating a process and understanding the do&rsquo;s and don&rsquo;ts - a common feedback from accomplice investors. How do you go about this? Well, the first step is understanding the basic terminologies in startup investment. Read more about the startup terminologies here. Step 2, Strategy - learning about diversification and building a portfolio of investments. To win in startup investing requires investing in numerous startups because you need to build a broad portfolio of startup investments. In any startup investment, you are more likely to lose your money. However, once you have built a portfolio of at least six investments, the risk of loss drops and returns begin to multiply. This is because in startup investing a handful of investments can return 2-3 times on your original investment covering the losses in other investments. According to a report, investors need to have at least 15-20 investments in their portfolios to make a yearly average of almost 30% increase in investment. Step 3, Deals, - finding sources of quality deal flow. To build a well-diversified portfolio you need access to quality startups raising funds (deals). However, finding good sources is not easy. Getting access to better deals often come with building connection and track records as an investor. A great way for new investors to jump-start their deal flow generation is to join deal sourcing platforms like Bantaba&rsquo;s Investment Marketplace (IM). These platforms provide exclusive access to a wide variety of deals in numerous sectors. Different platforms provide different types of access: Bantaba for instance focuses on the African market, providing access to a curated list of startups with promising potential. By leveraging on investing platforms you have access to the same deals top institutional investors are investing in. That&rsquo;s not all, you also get to diversify across ecosystems in the process. 
Finally, Exit - Knowing when to cash out. Investing in good deals is just beginning, you still need to research and learn signals on when it's right to exit your investment. In startup investing, that includes primarily a merger/acquisition or an IPO, this could be from year 3 depending on the mode of exit. Generally, startup investments can remain liquid for many years, therefore early investors need to be very patient. Some of your startup investments will return money, others will fail. However, the few you get right can provide outsized returns, like early investors in Paystack and WhatsApp enjoyed. To increase your chances of success best practices are advised. Whether you are just starting out or have been investing for years Investing in new frontiers like Africa is a great way to diversify your portfolio. As a knowledge and funding platform, Bantaba gives you access to more opportunities and also improves the quality of the opportunities you see in Africa. This is part of a series of posts, reports and data visualizations on Africa&rsquo;s investment landscape by Bantaba

Investing in a startup

Fundraising in Africa

Investing in startups can be even more lucrative than investing in the stock market. In fact, reports show that well-positioned portfolios produce over 200% return on investment within a 4-year period (i.e. $10,000 invested, would return $25,000). Profits like these easily exceed returns from stock market investments.
&nbsp;
However, investing in startups is high-risk and making money can be trick

How to make money investing in startups - Africa VC Series 1

Before 1990, China had little economic appeal, a growing poor population, and less than 3% of global manufacturing production output. Today, it's the 2nd biggest economy in the world and a leader in manufacturing, accounting for nearly a quarter of global output. What changed? - Technological innovation, an influx of investment and a strong political will. 
Over the last 3 decades, the country&rsquo;s investment in technology and the manufacturing sector have been huge, sparking astronomical economic growth. By creating an ecosystem that promoted the creation of products and international sales across the world, China was transformed.
 Africa is at a similar juncture as China was in the early 90s. Shrinking economies, a growing poor population and global exports of goods and services below 3%. Despite the current state, it's much better than what china started with. It&rsquo;s more stable politically, investment friendly and all reported outlooks are very promising. Below are some data and trends to justify why Africa is ripe for business investment.
 Fast population growth combined with the growth of middle-class consumption promotes sustained business spending in the area. In fact, by 2030, Africa will have 1.7 billion people and a combined consumer and business spending of 6.7 trillion U.S. dollars. This translates to more paying customers and a better economy for businesses to thrive. That&rsquo;s not all, the growing youthful population combined with the fast digitalization and increased technological innovation on the continent is a boost to digital companies. Africa now has more than 700 million mobile phone subscribers with about 50% mobile penetration among the youth.&nbsp; Some countries like Nigeria (54Gene), Kenya (MPESA) and Rwanda (Zipline) are leading the way in terms of digital innovation and technological adoption but other countries are quickly catching up. Talking about countries, 19 of the 20&nbsp; fastest growing countries in the world are in Africa. By 2030, forecasts have shown that Africa will have 17 cities with a population of more than 5 million up from 6 cities in 2015 and 5 cities with more than 10 million citizens up from 3 in 2015. The continent is experiencing fast urbanisation and rising investment in tech infrastructure from global players like Google, Meta and Twitter. 
Africa is quickly catching up to its title as the next frontier. Like China, Many will miss out on the returns of early investments in Africa&rsquo;s growth. You don&rsquo;t have to though. Armed with the information above you can decide whether or not to join the drive to invest in Africa. To get started, check out Bantaba&rsquo;s investment marketplace. It gives you access to quality investment opportunities in African startups. Welcome aboard! This article is the first in a series of exclusive expert insights on Africa&rsquo;s investment landscape. The first is an introduction to Africa&rsquo;s tech ecosystem and highlights why you should invest in Africa. The second section helps you understand the mechanics of startup funding and teaches the A-Z on how to invest.

Investments

Funding 

startups

Before 1990, China had little economic appeal, a growing poor population, and less than 3% of global manufacturing production output. Today, it's the 2nd biggest economy in the world and a leader in manufacturing, accounting for nearly a quarter of global output. What changed? - Technological innovation, an influx of investment and a strong political will. 
Over the last 3 decades, the country&rsq

Why Africa is the next frontier for high-impact investments

Building a great business as an entrepreneur is tough work and it gets tougher if you don't have the right people helping you on your startup journey. This means your business is only as good as the people you bring on. But finding these people and knowing whether they are the right fit for your company and team can be quite hard.
&ldquo; It takes one person to birth an idea, but it takes a community to build it. &rdquo;
So how do you find these talents who will help your business grow? Here are a few tips.
<ul>
<li aria-level="1">Identify What you Need</li>
</ul>
Understanding and identifying why you need someone for a role in your startup is very important and is the first step to successful recruitment. This is important because it will help you identify the skills you need for that role and how they will help you scale your business.
In most cases, a resume won&rsquo;t necessarily tell you if you have found what you need. For some roles, video interviewing can be used to enable you to identify these key qualities you are looking for so you can look out for some things that you need for your business. Some of these will include the candidate&rsquo;s technical depth in their role, their leadership skills, and the zeal to continuously learn and acquire new skills for their role&rsquo;s success.
As much as possible, ensure the skill-identifying process is an evidence-based selection approach that increases the confidence you are actually getting what you say you need. 
<img style="display: block; margin-left: auto; margin-right: auto;" src="https://res.cloudinary.com/bantaba/image/upload/v1661851193/blog/hghchvh_mqox5p.jpg" alt="" width="512" height="342" />
<ul>
<li aria-level="1">Aligned Goals and Culture</li>
</ul>
It&rsquo;s never too early to consider how to design the culture of your organization for now and the future. When forming a corporate culture, the scale-up phase of your company's growth is crucial, therefore when hiring people, keep vital aspects like inclusivity, fair compensation, transparency, and your goal and values in mind.&nbsp;
Sales are generated by culture, which also fosters long-term connections with clients and increases staff commitment to the success of your business. Hiring individuals who share your enthusiasm and future-focused outlook are ideal because it will increase employee engagement and retention. After all, the common mayhem of the startup world isn&rsquo;t permanent, but you want a stable environment for your talents and the right guys who align with that on your team.
<ul>
<li aria-level="1">Find Complementary Talents</li>
</ul>
Sometimes we like to look for ourselves in other people and we naturally gravitate toward people that are similar to us.
In talent recruitment, you don&rsquo;t need all your talents to be like you and think 100% like you. You want a team who can hold their own, and you need a diverse pool of smart minds who while aligned with your goals can think outside the box and help fine-tune your ideas for innovations.&nbsp;
<ul>
<li aria-level="1">Hire for Now and for the Future</li>
</ul>
As an entrepreneur, you are not just building for the next few months, you are building a business for the long term. As such you should think of your talent acquisition process in the same light. Several startups hire with very short-term thinking based on the urgency of tasks that need to be done now.
The problem with short-term gap hires is that you have to deal with replacing the gap in a few months when you should have been capitalising on talent gains. High-impact hires on the other hand with specialised skills and unique expertise will generate results for your company, irrespective of the area - revenue, strategy, delivery, or growth. These hires also have the capacity to inspire others and drive the team to success.
Finally, having the right team for your startup in Africa is very important. They can make or mar your scale. Even investors from various platforms like Bantaba won&rsquo;t invest in your startup if they don&rsquo;t believe you have the right team in place.
Also, it&rsquo;s completely fine to make a few misses but as the leader, the onus is on you to quickly identify and rectify these. Also, you can seek professional help from HR consultants to fine-tune what you need and help pick the best candidates.

business

team building

recruitment

Building a great business as an entrepreneur is tough work and it gets tougher if you don't have the right people helping you on your startup journey. This means your business is only as good as the people you bring on. But finding these people and knowing whether they are the right fit for your company and team can be quite hard.
&ldquo;It takes one person to birth an idea, but it takes a communi

How to build the right team to scale your business

Following the recent economic downturn, global startup financing took a big hit with reports showing a 39% decline in VC funding the Q2. However, a brief glance into the funding environment for African startups shows that it's doing better than other regions. 
<a href="https://thebigdeal.substack.com/">According to reports</a>, African tech companies raised more money in the first half of 2022 than they did in the entire year 2021, setting new records in the second quarter (Q2), June, and H1 numbers.
As it stands,2022 is on track to the strongest year ever for investments in the African tech economy. This indicates that the area is on track to raise 100% more money overall each year (YoY).
In this post, we'll provide you access to some key data from H1 2022.
African companies raised $152.8 million in June 2022 compared to $56.6 million in June 2021. This is 2.7 times more than the amount observed in June 2021. The African tech industry also saw its highest Q2 ever in 2022, when companies funded $1.3 billion, or 2.3 times as much as they had in Q2 2021 ($531 million).
The H1 earnings for 2022 will see the highest improvement as African startups raised $3.1 billion from over 400 deals. This is an increase of 2.4x above H1 2021 estimates of $1.35 billion. Furthermore, the results are higher than the $2.1 billion that African entrepreneurs were said to have raised the previous year. <img style="display: block; margin-left: auto; margin-right: auto;" src="https://res.cloudinary.com/bantaba/image/upload/v1659510629/blog/hvjshdvjqs_tvzimp.jpg" alt="" width="512" height="384" /> 
This is fantastic news for the continent and shows that it has made incredible development.
Another impressive stat is that startups in the big four - Nigeria, Kenya, South Africa, and Egypt raised 83 per cent of all this funding. They also raised 78% of the $1 million+ deals. This has been the trend since 2019 and with the H1 2022 results, this is not going to change anytime soon.
But this is not the only pattern that persisted in the first half of 2022. According to the data, Fintech startups continue to rule the industry.
Compared to prior years, where the majority of fintech funding was raised in the second half&mdash;89% of it in 2019, and 76% in 2020&mdash;about half (32%) of the money realized in the first half of 2022 went to firms operating in the fintech sector. <a href="https://bantaba.com/blogs/3-Reasons-Why-Every-Founder-Should-Join-Startup-Communities/">Over 100 fintech startups</a> on the continent have raised about $1 billion of the entire funding in H1 2022.
This is also a trend that will most likely not stop soon. With deepening mobile phone usage and internet penetration, funding for fintechs will continue to increase.
Some of the biggest fundings in H1 2022 include - Flutterwave ($250 million); InstaDeep ($100 million); Sokowatch ($125 million), Moove ($105 million); M-KOPA ($75 million); Sun King ($260 million); Interswitch ($110 million); MNT-Halan ($150 million); and MFS Africa ($100 million).
Going forward
Q3 is going to be a major decider for what the year will eventually look like in terms of funding. This is because of rising inflation, food insecurity, bear markets, and supply chain issues among other issues on the continent. Already, the African startup space has had its own fair share of shutdowns and staff reductions.
However, many industry watchers are optimistic about growth, thanks to the performance of past Q3s and the strong start to the year in H1 2022. Hopefully, more startup communities like <a href="https://bantaba.com/">Bantaba</a>, VCs, angel investors, and PEs, lock in on innovative startups in Africa.
Whichever way, interesting times ahead.

Quarter

report

VC funding

Following the recent economic downturn, global startup financing took a big hit with reports showing a 39% decline in VC funding the Q2. However, a brief glance into the funding environment for African startups shows that it's doing better than other regions.
According to reports, African tech companies raised more money in the first half of 2022 than they did in the entire year 2021, setting new 

Africa raised more in the H1 2022 than the first half of 2021 and 2020 combined; Here’s a Roundup

One of the biggest headlines this year was Flutterwave closing a $250 million Series D funding round in February. Like Flutterwave, many African startups have made headlines for raising funds. You would probably have seen headlines with the format "X startup raises $Y in Series Y funding round from XY". If you are not familiar with startup funding some of these terminologies like 'series' or 'round' used by the media would sound strange to you. However, these words are not arbitrary they hold meanings that we will break down for you below. 
First, let me point out why is this important? 
Financing for Africa is increasing, with venture capital raised reaching an all-time high of $4.7 billion in 2021. This momentum is not stopping anytime soon. At the end of May 2022, startups in Africa had already raised $2.7 billion, more than half of last year.&nbsp; It's forecasted that this growth will keep going for the next few years. This growth means that these terms would be more prevalent and the only way to understand them is to learn. Ready let's start with the simple ones,
Pre-Seed Funding
Pre-seed funding is exactly what its name suggests: pre. This is the initial finance stage that a new business experiences. This kind of investment is received as <a href="https://bantaba.com/blogs/3-Reasons-Why-Every-Founder-Should-Join-Startup-Communities/">founders launch their startups</a> and inventions after ideation.
The majority of "pre-seed" funders are always the founders, close friends and family, and other angel investors who are ready to take a chance on the founders to succeed. At this level, you won't see many venture capitalists or Private Equities investing in the firm, because it&rsquo;s too risky for them. At this point, the investors occasionally do not invest in exchange for firm equity. Depending on the firm, the size of the seed stage might range from $500,000 to $1.5 million in Africa.
<img style="display: block; margin-left: auto; margin-right: auto;" src="https://res.cloudinary.com/bantaba/image/upload/v1657808801/blog/m_m_i58oad.jpg" alt="" width="512" height="267" />
Seed Funding
This is the initial official stage of equity fundraising. Pre-seed investment is frequently followed by seed funding, the first real money a company or venture typically raises.
The seed investment is the initial financial support required to help the business flourish, much like planting a tree. The size also depends on the startup, as some businesses never get beyond seed capital into Series rounds or beyond. Most startups seeking seed capital have a value of between $3 million and $6 million. However, at $40 million, <a href="https://techcrunch.com/2019/11/12/palmpay-launches-in-nigeria-on-40m-round-led-by-chinas-transsion/">Palmplay raised the largest seed fundraising</a> that Africa has seen to date in 2019.
Series A&nbsp;
Startups in Series A have reached their target market, but they still require funding to cultivate client relationships and advance their business models. A company may choose Series A funding to further optimize its user base and enhance its product offerings if it has established a track record (an established user base, consistent revenue numbers, or some other important performance indicator).
Investors now also fund the firm, which has a proven chance of success, rather than only the idea, as was the case with seed funding. At this time, investment rounds also start including a lead investor, which encourages additional investors to fund the company.
Series B
Startups that are poised to raise Series B rounds have demonstrated that they have a product or service that is almost ideal, that they have moved past the development stage, and that they are prepared to increase their market share.
Investors are now helping startups expand for a large-scale operation since they have established a devoted user base and have shown they are prepared. This indicates that the startup has a fantastic team of employees. The amount that can be raised in this situation is unlimited. Several African firms have also raised <a href="https://bantaba.com/blogs/Startup-Funding:-Shift-your-focus-from-the-Money-to-the-Investors/">over $100 million at this point</a>.
<img style="display: block; margin-left: auto; margin-right: auto;" src="https://res.cloudinary.com/bantaba/image/upload/v1657808801/blog/bk_lo%CC%88_xeikz6.jpg" alt="" width="512" height="384" />
Series C
Very successful startups are those who reach Series C. Currently, their goals are to increase growth and profitability, penetrate new markets, and introduce new goods. Some even raise money to buy smaller rival companies.
Additionally, because these companies have been around for a long, investing in them is less risky, and at this stage, investment banks, private equity firms, and big syndicates are all contributing money. Six of the eight African unicorn startups&mdash;startups with a valuation of more than $1 billion&mdash;attained unicorn status during or after their Series C investments.
Companies that do continue to get Series D, E, F, and Z capital typically do so because they need one last boost before going public or because they still have a few objectives to complete.
Bottom Line
It is typical for a firm to start with a seed round and then go through funding rounds A, B, and eventually C as it gets more established.
However, it's crucial to remember that most African firms fail before receiving Series B capital. Only 8% of businesses on the continent, according to the <a href="https://www.weforum.org/agenda/2021/06/africa-tech-startups-technology-economics/">World Economic Forum (WEF)</a>, make it past Series B, for a variety of reasons, including insufficient investment and operational failure. With more venture capitalists and angel investors focusing on Africa, funding is becoming more decentralised recently, and platforms like <a href="https://community.ourbantaba.com/en/login">Bantaba</a> are linking entrepreneurs with these financiers.

Series

One of the biggest headlines this year was Flutterwave closing a $250 million Series D funding round in February. Like Flutterwave, many African startups have made headlines for raising funds. You would probably have seen headlines with the format "X startup raises $Y in Series Y funding round from XY". If you are not familiar with startup funding some of these terminologies like 'series' or 'roun

Funding 101: A Novice Guide to Funding a Startup

Only 50% of businesses survive their first 5 years according to <a tabindex="-1" href="https://www.investopedia.com/articles/personal-finance/040915/how-many-startups-fail-and-why.asp" target="_blank" rel="noopener noreferrer">statistics</a>. There are a variety of reasons why the other half of the population failed, ranging from poor luck to bad management. The reality that many entrepreneurs and startup founders lack the necessary knowledge to develop successful businesses top&rsquo;s the list. This is much more devastating for African startup founders, who must constantly deal with negative economic developments, epileptic rules, and limited capital in order to develop solutions and grow. As such, it is crucial that new entrepreneurs take advantage of all the available avenues to hack building a startup. One of these avenues is a startup community. These communities are made of startup entrepreneurs, founders and sometimes investors and engage in formal and informal meet-ups, such as physical meetings, Slack channels, online platforms, LinkedIn groups, and mailing lists. In this article, we will highlight 3 reasons why every entrepreneur should be a part of a startup community. Learning from Other Entrepreneurs
Experience is often doted to be the finest teacher but it doesn&rsquo;t have to be yours. Joining a&nbsp;<a tabindex="-1" href="https://bantaba.com/blogs/Startup-Funding:-Shift-your-focus-from-the-Money-to-the-Investors/" target="_blank" rel="noopener noreferrer">startup community</a> is a crucial step toward success if you&rsquo;re new to the business sector. Entrepreneurs frequently believe their solutions or conditions are unique, although this is not always the case. Even if it is, the general framework isn&rsquo;t and there are only so many business models out there. Whether online or in-person, being part of a startup community will almost certainly lead you to someone who has been there and survived. You can learn about other firms and startup founders, their obstacles, and how they overcame them. These fellow entrepreneurs are frequently willing to provide advice and secrets that have aided them. When the going gets difficult, these secrets and inspiration will be your anchor and guide.
Networking for Opportunities One of the main reasons why startup communities were formed is to facilitate networking. It is critical for you to deliberately establish your network as an entrepreneur. When you network with other local businesses, you put yourself and your business out there, which means you&rsquo;ll be more likely to be recommended for opportunities as they occur. Additionally, networking gives you the opportunity to meet investors. As an&nbsp;<a tabindex="-1" href="https://bantaba.com/blogs/Startup-Funding:-Shift-your-focus-from-the-Money-to-the-Investors/" target="_blank" rel="noopener noreferrer">early-stage entrepreneur</a>, finance is critical to your survival. Startup forums like Bantaba and StartupGrind, have a unique list of sophisticated and accredited individual investors, and angels with interests in different sectors that you can connect with. Even if you&rsquo;re bootstrapping your business, you never know when your priorities will shift, so having these investor or angel contacts is really beneficial. <img style="display: block; margin-left: auto; margin-right: auto;" src="https://res.cloudinary.com/bantaba/image/upload/v1655974007/blog/n_sdna_cdunda.jpg" alt="" width="512" height="341" />
Securing Strategic Partnerships Strategic partnerships with the right businesses can make all the difference. It may allow you to reach a huge number of customers quickly. It&rsquo;s also one of the simplest methods for passing on information and abilities. <a tabindex="-1" href="https://bantaba.com/blogs/Bantaba-and-Founder-Institute-Ghana-partner-to-boost-African-startups'-access-to-diaspora-wealth/" target="_blank" rel="noopener noreferrer">Startup networks</a>&nbsp;are an excellent location to meet possible partners or even operators who can help you scale your product or service. And, because everyone in these groups wants to expand, it&rsquo;s easier to form the necessary chemistry with other stakeholders to form a partnership or, depending on your goals, an acquisition.
One last thing&hellip; The wonderful thing about these entrepreneur networks is that as you progress, you&rsquo;ll be able to share your own secrets with others and invest in other solutions. It&rsquo;s what you&rsquo;d call your own unique manner of bringing value to the lives of other business owners. Other communities reward founders with incentives and host summits and&nbsp;<a tabindex="-1" href="https://bantaba.com/blogs/Bantaba-and-Founder-Institute-Ghana-partner-to-boost-African-startups'-access-to-diaspora-wealth/" target="_blank" rel="noopener noreferrer">coaching boot camps for startup members</a>. Undoubtedly, by becoming a member of an online or physical startup community, you open up numerous doors for yourself and your company.

Startup Africa

Pitch deck

Business Plan

Only 50% of businesses survive their first 5 years according to statistics. There are a variety of reasons why the other half of the population failed, ranging from poor luck to bad management. The reality that many entrepreneurs and startup founders lack the necessary knowledge to develop successful businesses top&rsquo;s the list.This is much more devastating for African startup founders, who mu

3 Reasons Why Every Founder Should Join Startup Communities

Bantaba is partnering with Founder Institute Ghana (FI Ghana), Africa&rsquo;s leading pre-seed startup accelerator to boost the access of diaspora resources to tech startups within the continent. Supporting early-stage African start-ups in solving the continent&rsquo;s biggest challenges is a mutual goal for Bantaba and FI Ghana. This is why both companies are becoming strategic partners to expand access to diaspora resources. As part of the partnership, all startups from the Founder Institute Ghana will have access to all the startup offers on <a href="https://bantaba.com/">Bantaba&rsquo;s platform</a>. They will also be reviewed for potential investment by the growing list of diaspora angel investors on the platform.
According to the Managing Direct of FI Ghana, <a href="https://www.linkedin.com/in/thesimonturner/">Simon R Turner</a> the partnership will boost its mission of supporting early-stage companies. He added, &ldquo;It will provide a platform for startups to continue getting necessary resources and expand their network after the core FI program.&rdquo; Similarly, startups from the Bantaba community will have the opportunity to apply for <a href="https://fi.co/ghana">FI&rsquo;s core program</a>, which teaches all the necessary aspects needed to reach the milestones for investment and sustained growth.
Bantaba&rsquo;s CEO, <a href="https://www.linkedin.com/in/lamin-k/">Lamin K. Darboe</a> believes that joining forces with FI is a good way to accelerate the community goal of empowering startups on the continent. He added that FI's structured process for startup growth has shown great success and will be of tremendous benefit to early-stage startups within the community. With an influx of diaspora resources, the growth of startups across Africa will continue to increase. The partnership will spark the inflow of diaspora resources for both startups within FI and Bantaba&rsquo;s community.
&ldquo;The diaspora resources through the partnership with Bantaba will act as a catalyst in FI Ghana's effort to promote startup growth. We will not only help a business grow but also be able to provide more opportunity for fundraising and the support needed to ensure the continuous growth and scalability&rdquo;, Simon added.
 About <a href="https://bantaba.com/">Bantaba</a>:
Founded in July 2021, Bantaba is Africa&rsquo;s biggest startup-diaspora community that connects African tech startups to investors, mentors and consultants in the African diaspora. The platform enables the African diaspora to contribute to the African tech ecosystem through networking, mentoring and investing in tech startups on the continent.
Bantaba startup users span 20 African countries and its diaspora community is spread across Asia, Europe and America. It is headquartered in Stockholm, Sweden but has a global workforce with employees also based in Kenya, France, and Taiwan. About <a href="https://fi.co/ghana">Founder Institute</a>: The Founder Institute is the world&rsquo;s most proven network to turn ideas into fundable startups, and startups into global businesses. Since 2009, our structured accelerator programs have helped over 6,000 entrepreneurs raise over $1.75BN in funding. Based in Silicon Valley and with chapters across 95 countries, our mission is to empower communities of talented and motivated people to build impactful technology companies worldwide.
Applications for the FI Ghana Fall &lsquo;22 virtual program are now open. <a href="https://bit.ly/fighana-fall22open">Apply here</a>

Bantaba is partnering with Founder Institute Ghana (FI Ghana), Africa&rsquo;s leading pre-seed startup accelerator to boost the access of diaspora resources to tech startups within the continent.Supporting early-stage African start-ups in solving the continent&rsquo;s biggest challenges is a mutual goal for Bantaba and FI Ghana. This is why both companies are becoming strategic partners to expand 

Bantaba and Founder Institute Ghana partner to boost African startups' access to diaspora wealth

Startups have a limited runway and investment can help extend that. The influx of funds gives sufficient time to test and perfect the business model. However, as a startup founder choosing the right investor is as important as raising money.
Many startups chase after the money, paying little attention to whom or from where the investment is coming. This has shown to be very expensive for founders as a few have been ousted from their companies due to this oversight. Jerry Yang, co-founder of Yahoo was pushed out nearly two decades after he founded it because shareholders didn&rsquo;t agree with some decisions he made.
Like Jerry, many founders have lost their companies or are battling to keep hold of their companies because they have different visions from their investors. According to <a href="https://hbr.org/2008/02/the-founders-dilemma">Harvard Business Review</a>, Four out of five entrepreneurs are forced to step down as CEO by investors. It analysed that 50% of founders were no longer the CEO by the time the startup clocks 3, in year four, only 40% were still in the corner office; and fewer than 25% have led their companies&rsquo; initial public offerings.
While there are many reasons why a startup founder is ousted, having the wrong investors is a leading factor. Below are some other effects of having the wrong investors on startups. 
Changes the direction of the startup When founders take money from investors their business model becomes the company&rsquo;s direction. This can be a problem if their plans don&rsquo;t match. That&rsquo;s why knowing your investor and understanding their plans is an important process while raising funds. Having investors that not only trust you as a founder but also believe the company&rsquo;s mission is the best way to avoid worrying about being ousted when there are bad patches. Steal a startup mission
The initial mission a startup is trying to achieve can be lost when an unbelieving investor comes aboard. Many investors are driven by profit, this means that they can push strategies that seem to create more profit even at the expense of the mission or problem your startup is trying to solve. 
Many startups have ended up on a different path that effectively makes them profit chasing companies with no particular goal. While the founders end up simply creating financial returns for someone else, not innovation, creativity or a product-market fit. <img style="display: block; margin-left: auto; margin-right: auto;" src="https://res.cloudinary.com/bantaba/image/upload/v1647333014/blog/White_and_Black_New_Blog_Post_Instagram_Post_zq795f.png" alt="star" width="600" height="600" />
Take control of the startup
<a href="https://ourbantaba.com/en/blog/">Startup funding</a>, when applied wisely can create a breakthrough for a company. Apple wouldn&rsquo;t have become the world&rsquo;s first trillion-dollar company if Bill Gates&rsquo;s $200 million investment in 1997 didn&rsquo;t save it from bankruptcy. However, applied naively startup funding could push a founder to a back-seat position in his startup with investors micromanaging operations.
Here, the founder doesn&rsquo;t lose the company but by codifying the power of decisions in the investment agreement, investors are allowed far greater visibility into operational realities and control authority with their board seats. Steal the startup Not all investors have good intentions when they invest in a company. In 2013, <a href="https://techcrunch.com/2013/06/26/maker-studios-co-founder-danny-zappin-sues-the-company-over-his-ouster/">Danny Zappin</a>, the co-founder of Maker Studios after being ousted accused the board of concealing secrets and committing fraud in order to shift control over the company. Like Danny, some founders have lost their companies to investors who slyly shifted control to themselves.&nbsp;
Stall future funding rounds
It's most typical for a company raising funds to sell its "primary shares", meaning they are purchased from the company and not from an existing holder. However, this means that every existing holder gets an equal amount of dilution. To avoid this, some investors use clauses like the anti-dilution clauses. However, this means that sly investors can include clauses in an investment contract that could cause complications when the founder wants to raise another funding round. Once a founder takes the money, it&rsquo;s a debt owed, with all the nagging reciprocity that comes with it. To retain control today, and in the future, it's important to only sell equity when you are sure about the investor. This means finding the right investor, one way to achieve this is to can use communities like <a href="https://ourbantaba.com/">Bantaba</a> which has a unique list of sophisticated and accredited individual investors, and angels with interests in different sectors.&nbsp;
Other methods include using accelerators, online fundraising platforms, forums on social media and direct connection or networking during events. The underlying trick is to understand the intentions of the investor and ensure it aligns with your vision for the company.

African startups

Startup funding

Startups have a limited runway and investment can help extend that. The influx of funds gives sufficient time to test and perfect the business model. However, as a startup founder choosing the right investor is as important as raising money.
Many startups chase after the money, paying little attention to whom or from where the investment is coming. This has shown to be very expensive for founders 

Startup Funding: Shift your focus from the Money to the Investors

<div class="st__content-block st__content-block--text">
<ul>
<li>&nbsp;Between 2015 and 2020 growth of African tech startups receiving financial backing was nearly six times faster than the global average.</li>
</ul>
Technology startups and the venture capital ecosystem that transforms ideas and fledgling companies into disruptive businesses are growing globally, a phenomenon that the Boston Consulting Group (BCG) explores in a recent report on the expansion and maturation of African tech startups.
According to the authors, Africa enjoys a fertile environment for tech entrepreneurs due to the continent&rsquo;s youthful and growing population, rising internet penetration, and the application of emerging technologies that have the potential to improve access to healthcare, financial services, education, and energy. As such, the research paper focuses on the meteoric growth of tech startups throughout the continent, persistent challenges and structural barriers stymying these firms&rsquo; further growth, and policy recommendations to overcome these obstacles and develop Africa&rsquo;s innovation hubs.
</div>
<div class="st__content-block st__content-block--text">
Securing venture capital funding, according to BCG, is an important milestone for startups and is an important step that enables them to scale and develop novel products. In the study, BCG found that the number of African tech startups accomplishing this significant step experienced exponential growth between 2015 and 2020. In fact, over that time period, growth in the volume of African tech startups receiving financial backing was nearly six times faster than the global average.
To capitalise on this momentum, it was recommended that government leaders should recognize the urgency with which they need to reform investment policy and financial regulations. Without lower business costs through better business regulations, the deals closed at the forum may face lesser challenges to implementation and long-term sustainability. Stronger property rights and dispute resolution mechanisms at the national level will enable more investment in innovative, high-risk projects. It is also anticipated that the recently concluded African Continental Free Trade Agreement will ease trade restrictions and integrate regional trade networks, which will spur innovation and increase the development of value-added products. These reforms will help investors to mitigate risks while securing high returns from African projects.
Source: <a href="https://www.bcg.com/publications/2021/new-strategies-needed-to-help-tech-startups-in-africa" target="_blank" rel="noopener">Boston Consulting Group</a>&nbsp;
&nbsp;
</div>

Venture Capital

Funding Africa

African tech startups

African Continental Free Trade Agreement



&nbsp;Between 2015 and 2020 growth of African tech startups receiving financial backing was nearly six times faster than the global average.

Technology startups and the venture capital ecosystem that transforms ideas and fledgling companies into disruptive businesses are growing globally, a phenomenon that the Boston Consulting Group (BCG) explores in a recent report on the expansion and matura

The rise of African tech startups

Your pitch deck is arguably one of the most important documents that you will create in your entire venture. Having a great pitch deck is the key to getting potential investors interested in your company, leading to subsequent meetings and ultimately, an investment.
The pitch deck will be the very first impression of the company for potential investors, and hence, its importance. Studies have shown that a first impression is formed in the first seven seconds of a meeting, and some research further suggests that a tenth of a second is all it takes to determine traits like worthiness &mdash; allowing investors to have confidence in you and your business.
Before thinking about what to include in the pitch deck, one important thing to consider would be your audience. Who is your audience? Is your audience familiar with your market? What is the forum that the deck is being presented?
We compiled a few tips for you to consider while putting together your pitch deck:
1. A Catchy Cover
The cover of the pitch deck should be simple and yet eye-catching, to incite curiosity in the audience. It should be on brand and convey the name, the logo, and your catchy tagline. Remember, this is a marketing document.
2. The Problem You Solve
An investor is interested if he is convinced customers would be interested. You need to convey your customers&rsquo; problems clearly and directly. It needs to be an indisputable problem, and ideally something that the investor can relate to. The more real the problem is, the more investors will want to dig deeper into your business.
3. Your Solution
The solution page addresses your approach to solving the aforementioned problem. This may include your product and its features that alleviate the customer pain points. Try to avoid technical jargon if you are not sure of the technical proficiency of your audience &mdash; a fresh graduate should understand you.
4. The Business Model
How will you make a business out of your idea? You either need to demonstrate how you make money or you need to demonstrate how you can eventually make money &mdash; Who is paying? How much? How will you bill (premium, freemium, promotions)? What is the value proposition to the purchaser?
5. Competition
How are you different from others? It would be ideal to have a chart, graph, or diagram to articulate your competitive advantages. You could also consider precedents in other markets and the capital being deployed into this sector.
6. Why this Team?
This is probably the most important reason for investors to buy into the pitch in the early stages. At later stages this emphasis shifts to performance indicators. Highlight backgrounds, experiences, and capabilities that made you go after the problem with this team.
7. The Bold Vision
It will be good to chart the long term journey that your business can make. This is particularly useful if you are chasing a large problem with a disruptive solution. Use this to set the stage for the call to action.
8. Call to Action
Here comes the &ldquo;ask&rdquo; slide. Summarise your ask for capital and where you would deploy it. Articulate where the money sought will get you in terms of your performance indicators. Articulate the support you expect from your current investors. Expect questions. Be prepared with responses.

Your pitch deck is arguably one of the most important documents that you will create in your entire venture. Having a great pitch deck is the key to getting potential investors interested in your company, leading to subsequent meetings and ultimately, an investment.
The pitch deck will be the very first impression of the company for potential investors, and hence, its importance. Studies have show

What makes a Perfect Pitch Deck?

A recent discussion attended by our marketing team revealed that African women abroad have a higher chance of getting funded compared to the ones back home.
This is after one of the speakers in the event revealed how while pitching to foreign investors, their mood suddenly changed when she said she was based in Canada.&nbsp;
While Africa boasts the highest growth rate of female-run businesses in the world, according to the World Bank, women continue to face challenges that are unique to them. These challenges, away from geographical location, range from social to financial barriers. We take a look at some of the hurdles that women in the business industry have to overcome on their road to success.&nbsp;
<h3>Lack of Funding</h3>
A study by the African Development Bank finds that the financing gap for women in Sub-Saharan Africa is estimated at the above US $20 billion, and younger women struggle the most. The struggle to raise business funds is an issue that many start-up owners are familiar with, but this problem is even more evident to women entrepreneurs.
While studies show that women manage their credit better than men, the former still find it harder to obtain funding than the latter.
According to the 2014 Findex report, only 30% of women in sub-Saharan Africa have access to bank accounts. This statistic shows the importance of empowering women through financial inclusion.
&nbsp;
Support Network
As an entrepreneur, the importance of having a mentor or advisor can&rsquo;t be overlooked. Growing a business requires constant decision-making, and a mentor serves as the experienced guide that one needs in order to make wise decisions and avoid mistakes.
&nbsp;
Stereotyping
Earning respect as a woman in a male-dominated field can be a challenge. Women often have to fight for equal opportunity in the face of gender discrimination. There are moments where women are dismissed and miss out on opportunities that are handed out to male entrepreneurs.
&nbsp;
Self-sabotage
A large number of women entrepreneurs have yet to fully comprehend their own greatness. According to the Global Entrepreneurship Monitor Women&rsquo;s Report, women are generally more afraid of failure than their male counterparts; this inhibits their chances of starting or running their own businesses. Janine also argues that the limiting fear of failure has a lot to do with how women are raised. This has a lot to do with how we&rsquo;re socialised as girls and young women. We aren&rsquo;t raised to be leaders, to be assertive, to ask for what we want, to understand our value, or to understand the kind of impact we can make.

female entrepreneurs

Africa Startups

A recent discussion attended by our marketing team revealed that African women abroad have a higher chance of getting funded compared to the ones back home.
This is after one of the speakers in the event revealed how while pitching to foreign investors, their mood suddenly changed when she said she was based in Canada.&nbsp;
While Africa boasts the highest growth rate of female-run businesses in t

Challenges faced by female Entrepreneurs in Africa

Bantaba Launching

African Startups


&nbsp;
- &nbsp; &nbsp; &nbsp; &nbsp;&nbsp;Bantaba enables Startups in Africa to access talent and capital from the diaspora community.&nbsp;
- &nbsp; &nbsp; &nbsp; &nbsp;&nbsp;The community-centered platform will foster innovation in Africa by enabling start-ups to access the diaspora&rsquo;s resources.&nbsp;
- &nbsp; &nbsp; &nbsp; &nbsp;&nbsp;Despite 22% of the working-age population starting ne

Relief for African startups as Bantaba platform goes live

Mentorship is considered vital in the start-up ecosystem for building a successful start-up.
While having a great product/service to tackle a painful problem is important, equally crucial is a great mentor to sustain and grow these fundamentals.
So how can we forge a connection between startups operating in Africa who need talent more than ever, and Africans around the world looking for the right opportunity to devote their passion, skills and time?
First, understand a mentor&rsquo;s role.
Most people get mentorship advisors and coaches confused. A mentor is often seen as a role model. Someone you aspire to be like. They have tons of experience and wisdom you can learn from. Advisors offer value by giving specific feedback about specific questions. On the other hand, coaches have trained as a coach and may not have had any experience in starting or running a business.
Mentors have already been through many of the failures and successes most entrepreneurs experience, both through their professional life and personal life, and they can share the experiences and knowledge they have gained with entrepreneurs who undoubtedly need this information.
More importantly, mentors have a genuine interest in businesses succeeding, they have already found personal success and fulfilment, they feel it is time to pass this on. This is what makes the relationship authentic. This is also the reason why mentorships should not be forced, finding the right mentor is critical.
So how does a mentor profile look like?
<h4>Knowledge of your industry</h4>
Mentorship based on operating experience in the same or similar industry would help gain knowledge of the general industry and market you are active in. It is fine if the mentor is not very knowledgeable of the industry, as long as he/she can introduce a startup to individuals within their network who possess the relevant industry knowledge.
<h4>Entrepreneurial experience</h4>
Both for knowledge and authenticity of shared knowledge, it is important that a mentor is either someone with entrepreneurial experience and/or someone who has experience in managing and leading a company at the highest level. These are the most reliable mentors as they are likely to have experienced the validation of ideas, raising money and helping a start-up go through difficult times.
<h4>A far-reaching Network</h4>
Having a mentor with solid connections is invaluable in the start-up ecosystem. The mentor is the person who can open many doors for a start-up. These doors could lead to network effects that provide a start-up with opportunities such as new potential customers, early customer trials, partnerships, interested investors and more.
For example, investors&nbsp;will generally feel more comfortable investing in a start-up that was referred to them by someone within their network.&nbsp;
<h4>Chemistry</h4>
An often overseen yet basic aspect of a good mentor fit is the chemistry between the founder and the mentor. As the two will be working together closely, good chemistry can have a major impact on the outcomes of the mentorship. The mentor should be able to empathize with the founder.
Dejection and depression are prevalent states of emotion faced by young start-up founders, mentors can only be of help with these kinds of issues if the bond between the founder and mentor is strong, as these are deeply personal topics. However, the mentor should not be strongly opinionated to ensure there is a space for open discussion with various perspectives.
<h4>Imaginative and Problem Solving</h4>
Two fundamental elements for a start-up are the conception of innovative solutions and focus on matters beyond the daily tasks and operations. A great mentor should help a start-up by tackling both of these fundamentals. The solutions mentors should help start-ups find can range from solving issues regarding technology, funding, market access, organizational culture and many more. The mentor should help founders build creative and efficient solutions to handle such issues based on his/her experience and knowledge.

Mentor

Mentorship

Startup in Africa

InvestinAfrica

Mentorship is considered vital in the start-up ecosystem for building a successful start-up.
While having a great product/service to tackle a painful problem is important, equally crucial is a great mentor to sustain and grow these fundamentals.
So how can we forge a connection between startups operating in Africa who need talent more than ever, and Africans around the world looking for the right 