Africa Headline News Tech

African tech innovation gaining global reconition

African technology innovation is gaining global recognition as recent reports show that African startups raised over $4 billion in 2021, with Nigeria, South Africa, Egypt, and Kenya receiving the majority of the investments.

Last Friday, the UK-Nigeria Tech Hub and Google for Startups, Africa announced a $3 million partnership, further illustrating Africa’s importance in global technology.

Some top African tech companies include Flutterwave, a Nigerian fintech providing financial services across the continent. It achieved unicorn status in 2021, along with Chipper cash, Opay, Wave, and Andela, meaning their value surpassed $1 billion.

Founded in 2018 by Ham Serunjogi and Maijid Moujaled, Chipper cash is accessible in Ghana, Uganda, Nigeria, Tanzania, Rwanda, South Africa, and Kenya. It enables users to move money from Europe to Africa and facilitates dollar transactions in Africa.

In 2021, Kennedy Ekezie, Duke Ekezie, and Jephtah Uche developed the bookkeeping app Kippa for small and medium-sized businesses.

Moe Odele created Vazi Legal in 2019 to provide legal services to businesses, individuals, and financial startups from its locations in Lagos, Nairobi, Washington, DC, and New York.

Releaf, launched in 2017 by Ikenna Nzewi and Uzoma Ayogu, is utilizing technology to enhance the agriculture industry, notably by minimizing waste in palm nut processing with the Kraken machine.

Safeboda, a transport fintech company established in Nigeria and Uganda, offers motorcycle and taxi services, as well as deliveries, payments, and savings.

Paystack, a Nigerian finance business formed in 2015 by Shola Akinlade and Ezra Olubi, is an additional notable African technology company. Paystack enables businesses to take credit card, debit card, and bank transfer payments from clients. In 2020, Stripe acquired the company for over $200 million, marking one of the greatest exits in the history of African technology.

M-Pesa, a Kenyan mobile money service created in 2007 by Safaricom, is another important startup. M-Pesa enables customers to use their mobile phones to deposit, withdraw, transfer, and pay for products and services. Financial inclusion has been revolutionized in Kenya, and the service has subsequently expanded to other African nations.

In addition, Iyinoluwa Aboyeji and Jeremy Johnson created Andela, a software development outsourcing company, in Nigeria in 2014. Andela supplies businesses with remote software engineers from Africa and has offices in the United States, Nigeria, Kenya, Uganda, Rwanda, Ghana, and Egypt.

These are only a few instances of the numerous innovative African tech startups achieving worldwide prominence. The expansion and success of these enterprises indicate that Africa has the potential to become a key player in the global technology industry.

Writing by Annabel Nwachukwu; Editing by Saadatu Albashir