The story of Africa rising? Was it a propaganda or a scam or did it stall or just came too early?
The Africa rising story started in the early 2000s, it was about the hopes that grew rapidly from the economical growth of some parts of the continent. Egypt, Nigeria, South Africa, Rwanda and a couple of other countries; then all of a sudden ‘Africa Rising’ became the talking point; investors were pouring in from the united states and across the world, tech hubs, co-working spaces emerged it was so good, it felt like by the year 2020, Africa would have bossed poverty by at least 90%. Fast-forward 2019, are we still on track?
This topic right from time has always been controversial; why? Because it puts the other countries (the growing African countries) in the dark and its really not good for them.
What has happened in some of those countries, those countries that took the lead; how far have they gone with technology now?
It’s okay that the investors are here already; I mean startups are raising funds here and there; $10million series B funding and so on. How sustainable have some of these businesses been? Has the government supported? Even if in terms of well laid out policies?
What exactly is the situation right now?
After all, the market is there and the people are innovative.
We certainly are on the right path to progress, however you can’t judge the growth of a whole continent by the growth of some countries in it. And we can’t sit depending on fintech alone to qualify the level of our growth in tech.
All of those fintech startups have come good; M-PESA, FLUTTERWAVE and a couple of others.
We really need a big diversification; something that offers something entirely different and very much marketable to the world. Something as cool as Jason Njoku is doing with IrokoTV.
This is stopping anyone from creating or continuing with whatever business they run; this is just saying, it’s better If we forgot about the Africa rising story and keep working low-key. – Of course our results will speak for us.
Until we are able to get most of the continent ticking together like a wall clock, until we are able to get government policies to favor startups, until we are able to control the market outside of our continent; we are a far from perfection. But if we move one step at a time, we will get to a destination quite reasonable in no time; but till then, stop the unnecessary hype.
Africa is coming.