Funding and support for young firms will help the continent as a whole
In the two decades leading up to the Covid-19 pandemic, many sub-Saharan African countries have seen unprecedented growth. In fact, in 2019 theMeanwhile, the region as a whole has seen its economy quadruple since 2000. Much of that growth was driven by increased domestic demand, improved macroeconomic management, a growing middle class and advances in political stability.
But if it is to do so while shielding itself from further global economic shocks it has to look beyond the factors that drove its first wave of growth. One way to do that is to focus on ensuring that the region’s start-ups have the support and conditions they need to help fuel the continent’s next wave of growth. In many ways, the right conditions for start-up growth are coming together organically. Take connectivity.
But it is also worth noting that Africa is still in the early parts of its start-up growth journey. Evidence of that can be found in the fact that of the 1,000-plus unicorns found globally , just. Further evidence can be found in the funding raised by start-ups on the continent. While African start-ups raised athat North American start-ups raised in the same period.
A few years ago big businesses supporting start-ups may have seemed like the business equivalent of turkeys voting for Christmas. For big, established players agile technology-enabled start-ups represented a new form of competition that was almost certainly coming for their lunch. Today, those same corporates increasingly recognise the value of start-ups, especially when it comes to building the technology companies needed to drive their own growth and expansion.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Court orders magistrate to start paying papgeldCourt orders magistrate to start paying papgeld: A senior Limpopo magistrate’s failure to plead his case has led to a court ordering him to pay R7,200 maintenance for an 11-year-old child he denies is his.
Read more »
Start your day with a Smile FM, Ryan O’Connor's on breakfast!Get ready to kickstart your mornings with Smile FM's latest and greatest addition to their lineup. It's the breakfast show of your dreams, hosted by none other than Ryan O'Connor, who will be joined by Success Lekabe and Ricky Schroeder to ramp up the vibes.
Read more »
A mostly sunny start to the week – Monday weather forecastGood morning, Cape {town} Etc family! It's a new week and we're off to a mostly sunny start with dollops of clouds here and there:
Read more »
Court orders magistrate to start paying papgeldA senior Limpopo magistrate’s failure to plead his case has led to a court ordering him to pay R7,200 maintenance for an 11-year-old child he denies is his.
Read more »
Some Steinhoff shareholders to start getting settlement cash from Wednesday | BusinessRetail shareholders of Steinhoff International who saw the value of their investments almost wiped out in the wake of its accounting scandal will start receiving settlement cash from Wednesday. | News24_Business
Read more »
Successful Steinhoff claimants to start receiving payouts soonClaims still need to be verified by the Stichting Steinhoff Recovery Foundation
Read more »