Browsing: Funding start-ups in Africa

  • In recent years, the continent has witnessed the creation of a significant number of startups, many of which have proven to be heavily lucrative
  • Creating an organization is a powerful element, but owning or co-owning it and being the principal recipient of the wealth created is much more powerful
  • Aside from technology, spreading from infrastructure to agribusiness and energy, it is evident that the production equipment is frequently not held by Africans

In one of several highlights of late 2021 in the buzzing microcosm of African tech, The Nigerian corporation MainOne, founded in 2010 and grown to be one of West Africa’s key information storage facility managers and communication service providers, announced in December that it had been bought by a United States firm, Equinix, after a booming US$6 billion revenue in 2020.

The US$320 million acquisition, which was completed in early April, was widely hailed since it demonstrated that