Besides its many challenges, problems, and needs, there are many reasons for optimism when it
comes to the future of Africa.
Accelerated economic growth
in various markets, the war on poverty, the emerging energy market,
political stability and international investments in various sectors,
all positive signs for what is yet to come.
As an entrepreneur, investor
and change agent that has been operating in Africa for many years, two
main factors makes me more optimistic than ever before.
First is the emerging field
of innovation, with local ventures demonstrating advanced technological
solutions and impressive business models.
The other is African youth,
many of those which I had the opportunity to meet display groundbreaking
thinking, creativity, curiosity, and a strong desire to lead their
homelands towards a better future.
This month, I was privileged
to see these two elements come together live on stage, during a Face
The Gorillas event at the Kigali YouthConnekt 2019 conference. Face The
Gorillas was established a few years ago with the goal of strengthening
and encouraging the entrepreneurial field in Africa. Under the scheme,
local entrepreneurs introduce their company to a panel of leading
international investors who decide whether or not to invest in the
venture.
To date, 16 episodes were aired, featuring over 60 entrepreneurs, 15 of whom have raised capital from the investor panel.
The current panel was
particularly exciting. The panel was led by entrepreneur and investor
Angela Homsi (who Co-founded Ignite Power), the managing partner of the
Angaza Capital, running the Rwanda Innovation Fund (RIF) - an investment
fund working in collaboration with the Rwandan government and the
African Development Bank. Homsi was joined by the international
investors Eugene Nyagahene and Robin Bairstow (CEO of I&M Bank);
Together, they met 5 local entrepreneurial youths who set up business
ventures in various fields, aiming to provide real-life solutions for
the needs of their communities in Africa.
While all the panel attended
various entrepreneurial programs around the world, we were all amazed
by the presenters’ prominence and remarkable levels of creativity.
“We have seen many
entrepreneurs from all over Africa over the years,” said Homsi. “They
all believe that innovation and entrepreneurship can lead to amazing
outcomes for themselves, their communities, their country and for the
world.
They all have common ground:
they are creative, problem solvers, they work hard, and most
importantly they are not afraid, and have uncommon grit. We want to
support them - and many other people through their solutions”.
The high levels of
creativity and innovation presented at the recent event is not sheer
luck. It is the result of hard work and smart investment by various
parties, led by the Rwandan government.
And now comes the challenge:
What is the best way to continue supporting these young entrepreneurs,
providing them with more tools, guidance and capital so they can fulfill
their vision - and lead Africa towards the future as they envision it.
The first step, as stated,
was provided by Homsi on stage, when she declared the kickoff of RIF’s
activities, financing and supporting African entrepreneurship: “We are
excited to launch and start investing in companies that are changing the
status quo, led by visionary entrepreneurs,’’ she says.
“We will support them with smart capital and operational guidance, that are crucial for unlocking the full potential of Africa”.
Now, many more players need
to join the effort, and provide the needed support and guidance to the
next generation dreaming of becoming business entrepreneurs. With smart
investments and ongoing support from experienced professionals and
leading figures (such as Homsi, Bairstow and Nyagahene), African
governments can provide these young dreamers with an advanced and
meaningful professional toolbox that will help them lead the entire
continent to a more inclusive, sustainable, and advanced future.
The writer is the founder of Ignite Power, a solar power firm in Rwanda.
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