In an Ailing Continent, African Tech Space brings Hope.


The African fintech ecosystem has raised $320 million in the past two years; there's been an increase in the number of hubs and start-ups and also, viable networks are being formed across countries further strengthening the budding startups and consolidating market spaces. This is evident in the recent acquisition of Kenya's iHUB by Nigeria's ccHub, this merger features two of the continents fastest- growing tech-hubs, a deal spurred by ccHub's launch of Design lab in Kigali prior to this.

Disrupt Africa's co-founder Tom Jackson in his African tech start-up funding reports states that 210 African fintech start-ups raised $334.5 million in 2018. Nigeria leads this list with 58 start-ups raising $94.9 million, South Africa comes next with 40 businesses raising $59.9 million and Kenya with $39million. These 3 countries are at the forefront of tech-hubs in the continent and each has a large percentage of young creatives driving these hubs.

In a time characterized by bleak economic forecasts, stemming from leadership problems highlighted in a backdrop of a myriad of social problems; the African fintech spaces are fast becoming a visible silver lining, an emerging beacon of hope. The underlining principle driving this change is the co-creation paradigm. A cross-pollination of ideas and innovative acts driven by research and indigenous designs created to tackle problems peculiar to African nations and societies.

These ideas are mostly designed as business solutions especially in e-commerce but looking further they can be applied to make the lives of everyday Africans, like solutions that will solve lack of electricity and transport solutions. Also, they present an opportunity for youth emancipation and the coming together of a new ilk of socially conscious business leaders. Based on the co-creation principle we can build or redesign industries to fit and meet the current needs affecting Africans across country borders.

This is an economic paradigm shift and the time for it is ripe, the internet and proliferation mobile network and data services have closed the 'knowledge gap' that erstwhile existed. The information needed to bring about this change is at the tip of our fingers, and the future even amidst social and economic conundrums have never looked brighter.

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