Building a Thriving Startup Ecosystem at the Korea-Africa Youth Startup Forum
Building a Thriving Startup Ecosystem at the Korea-Africa Youth Startup Forum AfriLabs is excited to announce that its Executive Director, Anna Ekeledo, will be speaking at the 2024 Korea-Africa Youth Startup Forum in Seoul, Korea, on June 5th, 2024. In her session, titled “Policies for Korean & African Startups,” Ms. Ekeledo will provide valuable insights on fostering a thriving startup ecosystem for young entrepreneurs in both regions. The 2024 Korea-Africa Youth Startup Forum is a significant event held at the sidelines of the inaugural Korea-Africa Summit. It aims to enhance cooperation between Korea and African nations by bringing together investors, startups, and support organizations from both continents. Key discussion points at the Forum will include: Current startup ecosystems in Korea and Africa Policies impacting startups in both regions Success stories of innovative African startups Trends in attracting investment for African startups Building networks among startup stakeholders This Forum offers an excellent opportunity for Ms. Ekeledo to share her expertise and connect with other leaders in the global startup ecosystem. With the influence of the ‘Global South’ at an all-time high, forging partnerships with Africa, a region of increasing strategic importance, has become essential rather than optional. Specifically, Africa is a crucial ally for Korea in its pursuit of becoming a ‘Global Pivotal State.’ Consequently, there is significant international attention focused on the upcoming Summit. About AfriLabs AfriLabs is the premier pan-African network of incubators and innovation centers, dedicated to supporting entrepreneurs tackling Africa’s most pressing challenges. Through its extensive network, AfriLabs offers business incubation, training, and funding opportunities to startups across the continent. About the 2024 Korea-Africa Summit The 2024 Korea-Africa Summit represents a historic milestone, as it is the first time the Korean government has invited African leaders to a summit of this magnitude. Under the theme “The Future We Make Together: Shared Growth, Sustainability, and Solidarity,” the Summit aims to elevate Korea-Africa cooperation, focusing on shared growth, sustainability, and solidarity. For more information about AfriLabs, visit AfriLabs. To learn more about the Korea-Africa Summit, visit 2024 Korea-Africa Summit. For media inquiries, please contact: pr@afrilabs.com & comms@afrilabs.com
Marking Africa Day with AfriLabs: Catalyzing Innovation Across the Continent
Marking Africa Day with AfriLabs: Catalyzing Innovation Across the Continent Marking Africa Day with AfriLabs: Catalyzing Innovation Across the Continent May 25 is a day for Africans and those who love Africa to show the world that the continent is a force to be reckoned with and that the moment has come for African youngsters to define the Africa they want, on their terms, following centuries of being referred to in a negative and degrading manner. This year’s theme pulsates by a powerful call: “Educate an African Fit for the 21st Century.” At AfriLabs, Africa’s largest network of innovation hubs, this is very relevant. We see education as more than just a means of achieving personal success; it is the spark that ignites a continent brimming with opportunity. Imagine Africa as a continent where the youth are full of energy, take lead in driving creativity, technology and innovation. That’s the potential we see. But to make this potential a reality, education is key. Africa has a very young population, with more than half the continent being under 25 years old. Equipping them with the right skills is crucial for Africa’s future success. AfriLabs isn’t here to just offer another program; we’re here to empower this young generation. Enabling a thriving tech ecosystem: AfriLabs capacity building program Under ACBP we launched our flagship program, AfriLabs Academy. AfriLabs academy isn’t your average classroom. It’s a launchpad for aspiring and existing entrepreneurs. We equip them with the tools they need to not just dream big, but to build those dreams into thriving businesses. Whether it’s navigating the complexities of finance or mastering the art of the digital pitch, AfriLabs Academy empowers them to conquer every hurdle. Since its inception in 2022, 1,500+ learners have benefited from this programme and a total of 656 certificates have been awarded. Still within the ACBP we launched our Hubs Learning Week, a 36-month intensive program that seeks to strengthen hubs so they can be investment ready and also equip them with the host capacity to run local and regional impact-driven programs that will support entrepreneurs and startups who actively contribute to growing an innovative ecosystem in Africa. Through this programme, we have trained over 2500 hubs, and a total number of 4287 trained participants with 62.5% being females. Empowering for the Digital Age: Digital Entrepreneurship Skills Academy The world is going digital, and Africa isn’t taking a backseat. Recognizing this shift, AfriLabs, alongside the African-European Digital Innovation Bridge Network (AEDIB|NET), launched the Digital Entrepreneurship Skills Academy (DES). This program strengthens both African and European digital innovation ecosystems by supporting local entrepreneurs. DES goes beyond basic skills training. It focuses on equipping marginalized groups, particularly young people, women, and vulnerable populations, with the tools they need to thrive in the digital age. Hosted on the AfriLabs Academy platform, DES equips participants with expertise to navigate the online landscape. The Digital Entrepreneurship Skills Academy takes a unique approach to education, guided by the innovative “3H” framework – Heart, Head, and Hand. Developed by Enabel, this framework emphasizes the interconnectedness of emotional, intellectual, and practical skills. By fostering both the passion and the knowledge needed for success, DES ensures a comprehensive and enriching experience for all participants. Bridging the Gap: 10×1000 Tech for Inclusion Innovation shouldn’t be a luxury. AfriLabs, a Global Partner for Africa in the 10×1000 Tech for Inclusion program, believes technology can empower everyone. Launched by the International Finance Corporation (IFC) and Alipay, this initiative offers free, world-class fintech training to 1,000 learners annually for the next decade. The program tackles digital exclusion head-on. In Africa, AfriLabs champions this effort, ensuring underserved communities have a seat at the fintech table. Participants gain a comprehensive curriculum in areas like fintech applications, product development, scaling businesses, and achieving digital inclusion – all crucial skills for creating positive change. The 10×1000 Flex model empowers participants to learn at their own pace. Engage with industry experts and a global network of peers, all from the comfort of your device. Gain valuable insights, build a strong professional network, and become a changemaker in the fintech space. Apply today! Bridging the Gap: Talent4Startups Great ideas are only as good as the talent behind them. AfriLabs, in partnership with Digital Africa, tackles this challenge head-on through Talent4Startups. This collaborative program connects Africa’s burgeoning startups with the skilled individuals they need to thrive. Launched at the beginning of 2024, Talent4Startups is an integrated program designed to meet the needs of both early-stage startups and young African talent. Partnering with leading organizations like TechQuest STEM Academy Nigeria and Ibiz Incubation Centre Kenya, AfriLabs equips 200 youths across five African regions with the skills they need to launch successful careers in startups. This comprehensive training program boasts a strong focus on gender inclusivity, with 48% of participants being women. The results of the programme speak for themselves. From an initial pool of 4,311 applications, AfriLabs admitted 282 talented individuals. Currently, 208 graduates are ready to make their mark on Africa’s booming startup scene. The Future is Now: Join Us! We are not just celebrating Africa Day; we’re actively shaping Africa’s future. We invite you to join us on this journey. Explore our upcoming programs, become a mentor, or simply join the conversation online. Let’s create a future where every young African mind has the tools to become a leader, an innovator, and a changemaker. Together, let’s write the next chapter of Africa’s story, a chapter brimming with innovation, opportunity, and the unstoppable spirit of a continent ready to shine. Subscribe to our newsletter today and follow us on our social media platforms to stay up to date on all of our latest programs, events, and opportunities.
AfriLabs set to participate at VivaTech 2024
AfriLabs set to participate at VivaTech 2024 AfriLabs will be participating at VivaTech 2024 which is taking place from the 22nd to the 25th May 2024 in Paris, France. VivaTech is Europe’s biggest technology and startup event that brings together startups, tech companies, investors and industry leaders from across the continent to discuss and showcase latest trends and advances in innovation and technology. Representing AfriLabs will be our Director of Programmes, Nanko Madu who will be joining a vibrant community of entrepreneurs, investors, and tech leaders at VivaTech. This event provides a platform for showcasing Africa’s booming innovation scene and fostering connections that will drive future growth. “I am thrilled to represent AfriLabs at VivaTech 2024,” says Nanko Madu. “This is a fantastic opportunity to share my expertise on building stronger health systems in Africa and fostering inclusive ecosystems. I look forward to engaging in discussions that will shape the future of innovation on the continent.” AfriLabs will be participating at VivaTech as follows; Wednesday 22 May, 03:00 PM – 03:30 PM – Paris Time: Promise: Encouraging more representation in the Tunisian Ecosystem Thursday 23 May, 11:30 AM – 12:00 PM – Paris Time: Building stronger health systems in Africa through technology About AfriLabs AfriLabs is the leading pan-African network of incubators and innovation centers, supporting entrepreneurs building solutions for Africa’s biggest challenges. Through its network, AfriLabs provides business incubation, training, and access to funding for startups across the continent. About VivaTech VivaTech is the world’s leading event dedicated to startups and innovation. It brings together startups, investors, executives, and policymakers to explore the latest trends and accelerate the growth of innovative businesses. For more information about AfriLabs, visit www.afrilabs.com and to learn more about GITEX Africa 2024, visit GITEX Africa For media inquiries, please contact pr@afrilabs.com & comms@afrilabs.com
AfriLabs Champions Innovation and Technology with High-level Delegation at GITEX Africa
AfriLabs Champions Innovation and Technology with High-level Delegation at GITEX Africa AfriLabs, the largest network of technology and innovation hubs across Africa, is excited to announce its participation in the upcoming GITEX Africa event, The biggest Tech and Startup Show in Africa, scheduled to take place from May 29th to 31st in Marrakech, Morocco. The presence of AfriLabs at GITEX Africa emphasizes its steadfast commitment to championing innovation and technology across Africa. With the Director of Community at AfriLabs, Mayssa Mrabet, alongside a cadre of passionate community members from the AfriLabs network, the organization is poised to seize this pivotal moment for collaboration, networking, and strategic partnership. The event serves as an unparalleled platform for AfriLabs to showcase groundbreaking solutions emerging from its network of hubs, while also facilitating meaningful engagements with key stakeholders, including government representatives and industry leaders. Through dialogue, knowledge exchange, and collaborative endeavors, AfriLabs aims to propel the African technology and entrepreneurship ecosystem to new heights. “Participating in GITEX Africa 2024 represents a significant milestone for AfriLabs as we continue to catalyze innovation and technology-driven progress across Africa,” said Mayssa Mrabet, Director of the Community at AfriLabs. “This gathering provides an invaluable opportunity to forge meaningful partnerships, showcase the ingenuity of African entrepreneurs, and chart a course for a future where technology serves as a catalyst for positive change. We are excited to be at the forefront of this movement, driving collaboration and empowerment within the African innovation ecosystem.” About AfriLabs AfriLabs is the largest network of technology and innovation hubs across Africa, driving the growth of Africa’s innovation ecosystem. With a mission to support the development of the African technology and innovation ecosystem, AfriLabs connects hubs and other stakeholders to facilitate collaboration, resource sharing, and knowledge transfer. For more information about AfriLabs, visit www.afrilabs.com and to learn more about GITEX Africa 2024, visit GITEX Africa For media inquiries, please contact pr@afrilabs.com & comms@afrilabs.com
Vault Hill and AfriLabs Announce Transformative Partnership at AIM Congress in Abu Dhabi
Vault Hill and AfriLabs Announce Transformative Partnership at AIM Congress in Abu Dhabi Abu Dhabi, UAE – 8th May 2024 – Amidst the prestigious backdrop of the 2024 Annual Investment Meeting (AIM) Congress, attended by His Highness Sheikh Saud bin Saqr Al Qasimi, UAE Supreme Council Member and Ruler of Ras Al Khaimah, Vault Hill Labs Limited (VH) and the African Technology Innovation Hubs Initiative (AfriLabs) have proudly announced a landmark Memorandum of Understanding (MoU). This strategic partnership sets the stage for a new era of technological empowerment, driving innovation and digital transformation across Africa and the Middle East. Unleashing Potential Across Continents Vault Hill, renowned for its revolutionary digital platforms integrating AI, immersive and blockchain technologies, is set to collaborate with AfriLabs, which has established a vast network spanning 54 African countries with over 400 technology and innovation hubs. This alliance leverages AfriLabs’ extensive reach and Vault Hill’s cutting-edge technologies to fulfil shared technological advancement and community empowerment objectives. Ajibola Odukoya, COO of AfriLabs, highlighted the scope of this partnership: “With AfriLabs’ extensive network and the successful initiation and implementation of projects worth $33 million in the past 3 years, this collaboration with Vault Hill is poised to amplify our impact, bringing sophisticated digital solutions to millions and further enriching the technological landscape of Africa.” Strategic Collaboration for a Digital Future This MoU will see Vault Hill act as AfriLabs’ strategic partner in the UAE. It will focus on fostering growth and supporting the ecosystem with advanced AI, Blockchain, and immersive technology services. These efforts align perfectly with AfriLabs’ strategic priority verticals regarding AI and future technologies. Jimi Daodu, CEO of Vault Hill, expressed enthusiasm about the partnership’s potential: “Teaming up with AfriLabs allows us to tap into a wide array of resources and expertise to drive significant advancements in digital interaction in Africa which aligns to our recently announced strategy – Vault Hill 3.0. This is more than a partnership; it’s a strategic alliance poised to set new technological innovation and socio-economic development standards.” Empowering Communities Through Technology Vault Hill and AfriLabs will engage in joint initiatives aimed at empowering communities and fostering sustainable growth through technology. These projects will be particularly focused on expanding digital access and enhancing local digital content, including gaming in Africa, which are crucial to driving widespread adoption and utilisation of new technologies. Maria Dervenco, COO of Vault Hill, elaborated on the operational synergies, “Integrating our AI-driven platforms like Hillda and VH Games with AfriLabs’ robust network will transform service delivery in sectors such as healthcare and education, making cutting-edge technology accessible to all.” As Vault Hill and AfriLabs embark on this path breaking journey, they invite stakeholders, investors, and technology enthusiasts to support this transformative venture. This partnership is set to redefine possibilities, creating a robust digital ecosystem that leverages the best of global innovation to benefit communities across Africa and the Middle East. About AfriLabs AfriLabs is a network organisation with over 400 technology and innovation hubs across 54 African countries. Founded to build a community around rapidly emerging tech hubs—a network of innovation spaces that support startups and developers, AfriLabs believes in the power of technology to transform Africa. AfriLabs works on the ground to advocate policy changes, drive collaboration and knowledge sharing, and provide resources that increase the visibility and sustainability of its members, all aimed at raising successful innovators who will spur economic growth and social development across the continent. About Vault Hill Vault Hill is dedicated to revolutionising the way users interact with technology, utilising blockchain to enhance user experiences across various platforms. With a focus on innovation, security, and community, Vault Hill is committed to advancing the blockchain industry and developing technologies that create real value. For more information, please contact: Maria Dervenco COO Vault Hill maria@vaulthill.io Vault Hill
The Shift in Africa’s Tech Funding: Equity Leads, Debt Grows
The Shift in Africa’s Tech Funding: Equity Leads, Debt Grows As we discussed previously, the interplay between local and global investment continues to shape startup financial strategies in Africa’s evolving tech ecosystem. Amidst this backdrop, 2023 has marked a turning point with the rise of debt financing, which will supplement the traditional equity funding model. While equity remains the lifeblood of startups, providing not only capital but also valuable networks, debt financing is carving out a niche. It provides a non-dilutive funding option that appeals to more mature startups looking to preserve equity while securing growth capital. In this follow-up article, we will look into each aspect of this trend. The year 2023 has demonstrated the African tech sector’s resilience and adaptability, with startups exploring a balanced mix of equity and debt to combat financial challenges. Despite the global venture capital slowdown, equity funding has remained the preferred source for African entrepreneurs. However, the narrative is broadening with the emergence of debt financing as a strategic alternative, providing a promising path for long-term growth in the face of economic uncertainty. The State of Equity Funding Equity funding, while still the most common type of investment, has seen a relative decrease in 2023, with a 5.4% drop from 94.8% in 2022. Generally, African startups raised $2,406,914,000, marking a 27.8% drop from the previous year, spread across 406 startups (According to a report by Disrupt Africa). This decline mirrors the global venture capital funding crunch, as investors have become more cautious in their funding strategies. The “big four” markets—South Africa, Nigeria, Egypt, and Kenya—continue to secure the majority of deals, although their share has slightly decreased, indicating a diversification of investments across the continent. Debt Financing on the Rise In contrast to the decline in equity funding, debt financing has increased significantly, accounting for 10.6% of total funding in 2023, according to a report by Disrupt Africa. This represents a 5.4% increase from 5.2% the previous year. Kenya, in particular, has led the charge in debt financing, with a significant focus on cleantech and fintech companies. This shift suggests that as equity becomes more challenging to secure, debt financing is emerging as a viable alternative for maturing startups. The Implications of Diversified Funding The increase in debt financing indicates that the African Tech Ecosystem is maturing, with startups looking for new sources of funding to fuel their expansion. This trend is especially beneficial for startups that can manage debt while maintaining their equity stakes. Furthermore, the rise of debt financing may indicate a more sustainable approach to startup funding, with companies encouraged to prioritize revenue generation and profitability. Looking Ahead As time passes, it is clear that the African Tech Ecosystem is maturing, with startups having access to a variety of funding options. The equity-to-debt ratio is likely to shift further as market conditions change. For startups, this means being more strategic in their funding approaches, taking into account the long-term consequences of their financial decisions. To put it simply, while equity funding remains the foundation of startup financing in Africa, the rise of debt financing in 2023 is a trend that cannot be ignored. It reflects a larger shift in the ecosystem, one that presents new opportunities and challenges for startups attempting to navigate the complex landscape of venture capital. If you found the article informative and worth reading, please subscribe to our newsletter at https://www.afrilabs.com/ and follow us on all social media channels (@AfriLabs).
Balancing Acts: Navigating Local and Global Investment Dynamics in Africa’s Tech Startups
Balancing Acts: Navigating Local and Global Investment Dynamics in Africa’s Tech Startups With a young, tech-savvy population and a growing middle class, Africa’s tech startup scene presents a treasure trove of opportunities for innovative solutions. Fueling this rise is a dynamic investment landscape, where local and global players are vying to be part of the African tech revolution. Local funding sources, like angel investors and venture capital firms with a regional focus, play a crucial role in nurturing the ecosystem. They understand the market nuances, regulatory hurdles, and cultural context that are often missed by outsiders. This local knowledge is invaluable in the early stages, where startups need guidance and support tailored to the African market. However, global investors bring a different set of advantages. They offer not just capital, but also access to international expertise, networks, and best practices. This can significantly enhance a startup’s ability to scale beyond its national borders and compete on a global stage. Benefits and Challenges: A Two-Sided Coin Local investors provide crucial seed funding and mentorship, fostering a sense of shared purpose and commitment to local development. However, limited capital pools can restrict growth potential. Global investors, on the other hand, inject larger sums and open doors to international markets, but their focus might be on quicker returns, potentially clashing with the long-term vision of the founders. Case Studies in Balance Several African startups have successfully navigated this investment landscape. Flutterwave, a Nigerian fintech giant, secured early-stage funding from local VCs before attracting global giants like VISA and Tiger Global. This mix allowed them to build a strong domestic presence before scaling internationally. Building a Synergistic Ecosystem To maximize the benefits, policymakers can create an environment that attracts both local and global capital. This includes streamlining regulations, fostering angel investor networks, and developing robust infrastructure. Entrepreneurs must be strategic in their fundraising approach, considering investor alignment with their long-term vision. Investors, both local and global, should embrace a collaborative approach, fostering knowledge sharing and prioritizing African-led solutions. In conclusion, leveraging the strengths of local and global investors, Africa’s tech startups can achieve sustainable and impactful growth. With a focus on collaboration, a supportive policy environment, and strategic decision-making, the continent’s tech revolution can reach its full potential and empower millions of Africans. If you found the article informative and worth reading, please subscribe to our newsletter at https://www.afrilabs.com/ and follow us on all social media channels (@AfriLabs).
Empowering Africa’s Tech Entrepreneurs: Join Intel’s Community Reach Program Today!
Empowering Africa’s Tech Entrepreneurs: Join Intel’s Community Reach Program Today! The Intel Community Reach Program is more than just a platform promoting the use of technology to foster development and inclusion; it’s a catalyst for change for budding entrepreneurs seeking to make a meaningful impact on their communities and beyond. Through this program, Intel aims to nurture and support the next generation of African innovators working in Artificial Intelligence (AI) and broadband utilizing space. By providing these builders with the tools, resources, and mentorship needed, bold and progressive ideas can be transformed to reality providing benefits for both entrepreneurs and the communities they serve. So, what exactly does the Intel Community Reach Program entail, and why should aspiring entrepreneurs be eager to take part? 1. Access Resources and Technology: As a participant in the Community Reach Program, entrepreneurs gain access to Intel’s state-of-the-art technology platforms and resources. Whether it’s harnessing the power of AI, exploring the potential of IoT (Internet of Things), or delving into the world of data analytics, participants have the opportunity to leverage cutting-edge tools to drive innovation and solve real-world problems in their communities. 2. Expert Mentorship and Guidance: Building a successful startup can be a daunting task, especially for those navigating the uncharted territories like the emerging AI space in Africa. That’s where mentorship plays a crucial role. Through the Intel Community Reach Program, participants are granted access to seasoned mentors who provide invaluable guidance, advice, and support every step of the way. From refining business models to navigating market challenges, mentors serve as trusted advisors, helping entrepreneurs unlock their full potential to realize market fit products. 3. Networking and Collaboration Opportunities: One of the greatest assets of the Intel Community Reach Program is its vibrant community of like-minded entrepreneurs and industry experts working in overlapping sectors. Participants have the opportunity to connect with peers, share insights, and collaborate on projects that have the potential to drive meaningful change. 4. Social Impact and Sustainability: At its core, the Intel Community Reach Program is driven by a commitment to social impact and sustainability. Intel recognizes the importance of building businesses that not only generate profits but also create positive change in society. Through the program, entrepreneurs are encouraged to develop solutions that address pressing challenges in areas such as healthcare, education, agriculture, and environmental sustainability, making a tangible difference in the lives of people across the continent. So, if you’re an aspiring entrepreneur with a passion for innovation and a drive to make a difference, Intel and their partners are inviting you to be a part of this exciting journey. Together, we can harness the power of technology to create a brighter future for Africa and beyond. To learn more about the Intel Community Reach Program and how you can get involved, visit the website https://intel.az1.qualtrics.com/jfe/form/SV_bwL2peBT7vzYZam to begin your journey and let the change begin, one start-up at a time.
Harnessing AI for Africa’s Future: Intel Empowering Builders Across the Continent
Harnessing AI for Africa’s Future: Intel Empowering Builders Across the Continent Africa is home to 54 countries with an estimated 2000 languages and corresponding cultures facing unique problems that require homegrown bespoke solutions. In this dynamic landscape, the promise of artificial intelligence (AI) shines brightly, offering a beacon of hope for addressing pressing issues and driving sustainable development in a range of sectors. In recognition of AI’s immense promise for Africa’s development – Intel is playing a role in making sure builders on the continent are shaping the future for the better offering opportunities in areas like resource support, mentorship and training. Across sectors such as healthcare, agriculture, education, and infrastructure, AI holds immense potential to revolutionize existing systems and create new avenues for growth and prosperity. With its ability to analyze vast amounts of data, identify patterns, and make informed decisions, AI is not just a tool but a powerful ally in overcoming Africa’s unique challenges. Take, for instance, the issue of high student-to-teacher ratios prevalent in many African classrooms. With limited resources and a growing population, traditional education systems often struggle to provide personalized learning experiences. However, AI-powered educational platforms can adapt to individual student needs, offering tailored lessons and feedback to enhance learning outcomes. Then there is the issue of language barriers forming and a significant obstacle to accessing information and services across Africa’s diverse linguistic landscape. AI-driven translation technologies can bridge this gap, enabling seamless communication and knowledge sharing across borders and cultures in a way no technology before has been able to achieve. As talks of improving intra-African trade and expertise exchange continue to progress, AI has perhaps come at the right time to form the perfect bridge. In underserved communities where access to essential services is limited by geographical or infrastructural barriers, AI has the potential to break down these obstacles. Whether it’s telemedicine platforms delivering healthcare to remote areas or smart agriculture solutions optimizing crop yields, AI-enabled innovations are transforming lives and livelihoods. Recognizing the transformative power of AI, Intel is committed to empowering African entrepreneurs and innovators to harness its potential for positive change. Through initiatives like the Intel Community Reach Program, Intel and their partners provide support, resources, and mentorship to builders across the continent, enabling them to develop scalable and impactful AI solutions tailored to local needs. By fostering collaboration and innovation, Intel is not just driving economic growth but also promoting social inclusion with a strong focus on underserved communities that need this technology the most. Together with local stakeholders and partners, Intel is building a thriving ecosystem of AI-driven innovation that is driving Africa’s development forward. As Africa embarks on its journey towards a digital future, entrepreneurs working or planning to work with AI or other broadband enabled technologies are invited to apply for the program for this unique opportunity to be a part of the future. Together, we can turn challenges into opportunities and pave the way for inclusive and sustainable development across the continent.
AfriLabs and 2X Global Announce Partnership to Advance Intersectional Gender Lens Investing
AfriLabs and 2X Global Announce Partnership to Advance Intersectional Gender Lens Investing AfriLabs, the largest network of technology and innovation hubs across Africa, and 2X Global, a global industry body focused on increasing the volume and impact of capital directed towards women’s economic empowerment worldwide, are pleased to announce the signing of a memorandum of understanding (MOU) to enter into a strategic partnership aimed at advancing intersectional Gender Lens Investing across emerging economies. With a shared vision of increasing the flow of financial capital to promote sustainable development, including through Impact Investment, AfriLabs and 2X Global are committed to fostering collaboration, knowledge exchange, and capacity-building initiatives to drive positive change in the investment landscape. “We are thrilled about our partnership with 2X Global, a leader in advancing intersectional Gender Lens Investing globally. This collaboration presents an exciting opportunity to leverage our collective expertise and networks to drive impactful investment in African innovation and entrepreneurship. Aligning perfectly with AfriLabs’ vision to support and mentor women entrepreneurs across Africa, this partnership signifies a crucial step towards fostering sustainable economic growth and development on the continent. We look forward to facilitating knowledge exchange, capacity-building initiatives, and advocacy efforts that will advance the intersectional Gender Lens Investing agenda across emerging markets, creating a more inclusive and impactful investment landscape.” – Anna Ekeledo, Executive Director at AfriLabs. CEO of 2X Global Jessica Espinoza said the partnership presented a great opportunity for both organisations to benefit from the insights and networks of each other. “2X Global and AfriLabs have a common focus on knowledge sharing and capacity building, not to mention a shared commitment to supporting women’s economic empowerment. So we’re really looking forward to putting this partnership into action by finding synergies to carry forward our respective, aligned missions.” The memorandum of understanding outlines the terms of collaboration between AfriLabs and 2X Global in achieving their shared goal of increasing the flow of financial capital to promote sustainable development through intersectional Gender Lens Investing. The partnership will focus on knowledge exchange, capacity building, and advocacy initiatives aimed at advancing the intersectional Gender Lens Investing agenda across emerging markets. About AfriLabs AfriLabs is a Pan- African organisation that works with multiple stakeholders to unlock Africa’s vast potential and drive sustainable economic growth across the continent through investment, innovation, technology, and entrepreneurship. About 2X Global 2X Global is a global membership and field-building organization for investors, capital providers, and intermediaries working in public and private markets, across both developed and emerging economies. By working together with the full spectrum of investors, capital providers, mobilizers, and influencers, we will help shape the market on a whole new level, ultimately transforming systems of finance through the gender-smart deployment of capital across asset classes and markets. 2X Global engages its global network through a series of activities that advance intersectional investment agendas, scale the field, shift mindsets, and facilitate capital deployment. These include a series of Communities of Practice, educational forums, shared resources, certification and standards, and deal-sharing platforms. 2X Global is headquartered in London, UK, and works globally. For more information about AfriLabs, visit www.afrilabs.com, for information about 2x Global, visit 2X Global. For media inquiries, please contact pr@afrilabs.com & comms@afrilabs.com.