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Why Silicon Valley’s Money Can’t Solve Africa’s Tech Problems
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Why Silicon Valley’s Money Can’t Solve Africa’s Tech Problems

Esha Chhabra
Wired, 2018
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8

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Facebook CEO Mark Zuckerberg recently said that the future will be built in Africa, but if current trends persist, it will be built by foreign nationals with foreign investments; Africa’s budding venture capital (VC) scene is mostly made up of foreign men. This includes both the investors and the entrepreneurs, although local VCs might have more of a feel for the local economy. The challenge is how to convince Africa’s wealthy to invest and get funding into the right hands. getAbstract recommends Esha Chhabra’s article to readers with an interest in impact investing in Africa.

Take-Aways

  • Most of the entrepreneurs based in Africa are foreign nationals, and most of their funding comes from North American or European investors.
  • Seattle-based impact investing fund Capria is trying to build a pool of African funding that will be run by African fund managers for African ventures.
  • Though such impact funding initiatives have succeeded in India, African countries present unique challenges.

About the Author

Eshra Chhabra writes about the business and its impact on social and environmental problems. She’s written for the San Francisco Chronicle, The New York Times, The Atlantic, The Economist and The Guardian. 

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