21 C
Kigali, RW
December 1, 2022
Business Featured

STARTUPS IN DRCONGO ARE UNDER-FUNDED BECAUSE OF LANGUAGE BARRIER

Last year, the report published by AfricArena revealed the virtual capital funding that amount from $2.25 billion to $2.8 billion this year, a record high for Africa. 

Africa’s VC investments reached an all-time high in 2019 when 234 tech companies raised $2.02 billion in 250 equity rounds, a 74 percent increase on the $1,163 recorded in 2018.https://www.statista.com/chart/24911/vc-investment-by-country-in-africa/.

Consequently, potential francophone entrepreneurs are turned off by lack of funding than their anglophone counterparts, as the major financiers in tech are English-speaking investors. 

In total, 21 of 54 African countries are officially French-speaking.  According to the figures,  Africa makes up more than 70% of the world’s total French-speaking population. But how buoyant the startup ecosystem there remains a question. Only about three French-speaking African countries — Rwanda, Senegal and Morocco.

This lack of funding has therefore led to the dearth of developers and designers in francophone Africa. Most resources for start-ups in Africa (e.g. regional incubators and accelerators, labs, conferences) are mostly in the English-speaking countries.

While startup owners are not to blame for the language they speak, it appears however that language is actually a major barrier for most startups in the French-speaking countries. A look at the investment preference of investors and their countries of origin show a majority of investors coming from English-speaking countries, or having the major funds coming from English-speaking countries.

The table below represents the top investment in African startups for the years 2017 and 2018. Consequently, potential francophone entrepreneurs are turned off by lack of funding than their anglophone cousins, as the major financiers in tech are English-speaking investors.

This lack of funding has therefore led to the dearth of developers and designers in francophone Africa. Most resources for startups in Africa(e.g. regional incubators and accelerators, labs, conferences) are mostly in the English-speaking countries.

Related posts

In pictures: Defying Mozambican jihadists to go to school

Hano News

En Italie, des panneaux « zone romantique » invitent les couples à échanger un baiser

Hano News

BK Group Plc yahawe umuyobozi mushya wari minisitiri

Hano News

Republic of Rwanda Achieves First Safety Assessment Rating

Hano News

Ubucuruzi Mpuzamahanga Bwahungabanyijwe N’Umwuka W’Intambara Hagati Y’u Bushinwa Na Taiwan

Hano News

French Billionaire Uses Canal+ to Buy More Africa Pay-TV Stock

Hano News

Leave a Comment