Ehimuan: Africa needs to attract more investments in tech, digital economy

In a recent discussion with CNBC Africa, Juliet Ehimuan, the Founder of Beyond Limits Africa, emphasized the need for Africa to attract more investments in technology and the digital economy. Ehimuan highlighted that 77% of the investment into Africa is concentrated in just four key countries, signaling the importance of spreading investments across the continent. She pointed out that while Africa's tech and creative scene is currently booming with entrepreneurial activity and innovative solutions, there is still significant room for growth and development. With only 12 unicorns created in the last decade across the entire continent, compared to nearly 200 unicorns in the UK during the same period, Ehimuan stressed the importance of enhancing Africa's economic impact in these sectors. She emphasized the need for intentional strategies to navigate the diverse African market and create linkages between investors, startups, and ecosystems. Ehimuan addressed the significance of fostering cross-border collaborations and global partnerships to expand the outlook and drive growth. Beyond Limits Africa's Dice platform serves as a catalyst for bringing together key stakeholders in the tech and business ecosystems to facilitate knowledge sharing, best practices, collaboration, and partnership. By engaging policy makers, startups, multilateral organizations, foreign missions, and other entities, the platform aims to address challenges, explore opportunities, and fuel growth across the continent. When discussing investment trends and market dynamics in key African countries such as Nigeria, Kenya, and South Africa, Ehimuan underscored the importance of directing investments to regions beyond the current hubs. While fintech has attracted the largest percentage of investment due to its cross-border appeal, Ehimuan emphasized the need for deep market expertise and visibility for all entrepreneurs to enhance success rates. By institutionalizing support systems and showcasing diverse talents, Africa can elevate its entrepreneurial ecosystem and drive sustainable growth. In the realm of the creative economy, Ehimuan highlighted the transformative role of technology in amplifying Africa's rich heritage and diversity on a global scale. While the creative economy currently contributes around 2.4% to GDP, there is immense potential for growth and monetization. Ehimuan encouraged creative entrepreneurs to leverage digital platforms for global exposure and revenue generation. By collaborating internationally and harnessing technology's enabling capabilities, creatives can expand their reach and increase their economic impact. As Africa seeks to position itself as a hub for innovation and creativity, Ehimuan's insights underscore the imperative of attracting investments, fostering partnerships, and leveraging technology to unlock the continent's full economic potential.