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The venture capital market has been growing rapidly in Sub Saharan Africa in the past years Partnerslundentechcrunch. As a result, the number of opportunities for startups is increasing, making it a promising market. However, it also means that there are many challenges that the companies must face. In this article, we take a closer look at some of the most important issues to consider when investing in the region. Specifically, we’ll talk about the key players in the market, investors, and plans for expansion.
A recent article in The New York Times about Pngme reveals that the burgeoning fintech startup has raised a sizable round of capital. Amongst the many VCs that have invested in the company are Octopus and Unshackled Ventures. Besides the usual suspects, Pngme has also attracted the services of ex-COO of RBC Capital Markets, Richard Talbot. To put the sums into perspective, Pngme is a relative startup compared to a slew of larger fintech behemoths such as Bancor, CIT Group and Standard Chartered. While the competition is intense, Pngme’s nifty fintech is a refreshing change of pace. For starters, the company has a stellar team that is arguably one of the coolest offices in the country.
Key players in the market
Sub-Saharan Africa has a population of over one billion. This region is one of the fastest growing in the world. Its economy has a GDP of over $1.5 trillion. It is also integrating into the world’s largest free trade area. In 2019, sub-Saharan Africa imported $238 billion. The United States exported $15 billion to the region.
Most production in sub-Saharan Africa takes place in small plants, with limited capacity. However, new technologies could make manufacturing easier and less expensive. Some promising examples include modular plant design and improved process chemistry.
For instance, APIs can help manufacturers overcome supply chain disruptions. They can also track data on units produced and defects. And with growing web applications and IoT devices, it’s important for companies to expose more data through APIs.
One of the largest pharmaceutical industries in sub-Saharan Africa is in Kenya. But it has experienced declines in new business. Another country, Nigeria, has a relatively sizable industry.