Africa is Ripe for Entrepreneurship Despite Challenges

Despite diseases and terrorism, Africa still remains a ripe field for entrepreneurship if only enterprises could embrace venture capital to develop their trades.
When disaster strikes in Africa, investment momentum experiences major impediments with donors reluctant to fund ventures in the continent.

TO GO WITH Lifestyle-IT-India-business-village FEATURE by Ammu Kannampilly In a picture taken on November 18, 2010 a neigbhourhood shopkeeper writes down transaction details after transferring money for customers using text commands on a mobile phone in New Delhi. India's hunger for new technology is as sharp in its countless small villages as in its shiny office towers or shopping malls -- and businesses are waking up to an area of massive potential growth. Specific designs being aimed at Indian villagers include a mobile phone cash-transfer system, robust low-energy refrigerators and a clever twist on the humble kitchen stove. AFP PHOTO/Manpreet ROMANA (Photo credit should read MANPREET ROMANA/AFP/Getty Images)

However, Mbwana Alliy is optimistic that “Africa is about to peak” and it is time to invest in the region.

According to Mr Alliy, who co-founded Savannah Fund, a seed capital investment firm located in Nairobi, Kenya, smartphone connectivity, an emerging middle class, and opportunities for technology are unprecedented and provide great platforms to expand enterprises in Africa.

“When there is a negative event, like Ebola or a terrorist incident, investment momentum gets set back and talent leaves,” he said noting that enterprises can benefit better from venture capital.