Innovation and capital are two essential factors that play a critical role in driving economic growth and development in Africa. The continent has immense potential, and with the right investments in innovation, Africa can achieve its full potential and become a global economic powerhouse.
Africa is a continent rich in natural resources, and there are significant opportunities for investment in various sectors, including agriculture, mining, energy, and technology.
“Creativity is thinking up new things. Innovation is doing new things.” Theodore Levitt (Economist, Harvard Professor).
However, the lack of adequate capital and limited access to financing options have hindered Africa’s progress in these areas. In addition, the lack of innovation and technological advancements have limited Africa’s competitiveness in the global market.
The impact of innovation in Africa cannot be overstated. Innovation has the potential to transform economies, create new industries, and enhance productivity. Innovative ideas and technologies can help African businesses to overcome challenges, such as limited access to finance and a lack of infrastructure. Additionally, innovation can help to create new jobs, boost economic growth, and increase the standard of living for Africans.
However, innovation cannot thrive without adequate capital. Capital is necessary to fund research and development, build infrastructure, and invest in new technologies. The lack of adequate capital has been a significant hindrance to African businesses looking to innovate and expand. The inability to secure funding has also limited African entrepreneurs’ ability to start and grow their businesses, which has resulted in a slow pace of economic growth.
The good news is that there has been an increasing interest in investing in Africa’s innovation and capital sectors. Multinational corporations, venture capitalists, and impact investors have recognized the enormous potential in Africa and are starting to invest in the continent’s promising startups and enterprises. In 2022, African startups received over $5 billion in investments.
For the last few years, GetFundedAfrica has been at the forefront of providing exclusive deals which we have shared with our venture capital circle of partners. This has led to over $400m worth of deals from companies GetFundedAfrica has worked with.
To help early-stage African companies get their first cheques, and to enable even more innovation on the African continent, we are providing access to angel investors to our deal pipeline through the GFA Investor Club.
The GFA Investor Club is an exclusive network of high-net-worth individuals (HNWI), angel investors of any nationality around the world, celebrity investors, Africans in the diaspora, tech founders who are interested in funding other founders, and successful professionals who want to support Africa’s growth.
To know more about the benefits of being a member of the GFA Investor Club or to be invited to the Club, kindly use this link and follow the path of an “investor” Customer Onboarding by GetFundedAfrica.
Capital has been used to transform economies around the world. It is time to spur innovation on the continent so Africa can achieve its full potential and become a global economic powerhouse.
Adebola (Debo) Omololu is the CEO & Co-Founder of GetFundedAfrica. GetFundedAfrica is a technology platform that connects African founders with global mentors, advisors, corporates, investors & government. We aspire to be the business operating system for the 54+ million formal startups and SMEs in Africa. Visit www.getfundedafrica.com for more information.