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).
AfriLabs and UNICEF Office of Innovation Team Up for Digital Public Goods Webinar Series
AfriLabs and UNICEF Office of Innovation Team Up for Digital Public Goods Webinar Series To unlock the potential of Digital Public Goods (DPGs) in Africa, AfriLabs and the UNICEF Office of Innovation are teaming up for a DPGs Webinar Series. This initiative aims to equip stakeholders with the knowledge and insights needed to unlock the immense potential of DPGs in shaping a brighter future for Africa. The webinar series promises to be a valuable platform for exploring the current DPG landscape, identifying key challenges and opportunities, and ultimately fostering a collaborative environment for driving positive change across the continent. With the big shift happening in the African tech ecosystem, startups are becoming more aware of what solutions they create or need to create and how they translate into meaningful impact. This pushes traditional profit seeking startup accelerators to rethink their focus areas so to include the criteria of startups they support, thematic programmes they want to run, and impact ROI in their investment thesis. Incubators and accelerator programmes focus on success indicators such as sustainability of startups post-programme, follow-on investments received, and of course, the potential scale of the startups that have graduated from their programmes. This is where open innovation plays a role. Combining the scale of implementation opportunities and impact with user growth, more entrepreneurs are embracing open source in their business, a mandatory indicator for what makes DPGs. What are digital public goods? “Digital public goods are open-source software, open data, open AI models, open standards and open content that adhere to privacy and other applicable laws and best practices. DPGs do no harm by design and help attain the Sustainable Development Goals (SDGs). This definition is drawn from the UN-Secretary General’s Roadmap for Digital Cooperation.” – Digital Public Goods Alliance Becoming recognized as a Digital Public Good (DPG) opens doors for startups to grow faster. They can: Connect with global networks: This allows them to reach a wider audience and collaborate with other organizations. Work with governments and major organizations: They can partner with governments, UN agencies, and development partners to deploy their solutions on a larger scale. Addressing the Open-Source Revenue Question: You might wonder how startups can make money if their solutions are open-source. The UNICEF Venture Fund is a great example of how this can work. They, and other organizations like UNICEF StartupLab, support startups in developing DPGs. Here’s some evidence of success: The UNICEF Venture Fund has invested $7.09 million in 81 startups across 37 countries. They provided seed and growth funding to help these startups get started and grow. 68% of these companies were able to secure additional funding from other investors, which is better than average for startups at this stage. The value of the initial investments in these companies has increased 2.6 times on average. 7 companies have been acquired by other companies or have successfully exited the startup stage. Startup accelerators and other organizations supporting early stage innovations are powerful entities that provide critical support to startups in their development. If they can create an enabling environment in building DPGs, the by-product of these efforts can ultimately lead to making these digital solutions more discoverable and accelerate the attainment of the SDGs and impact at scale. We invite you to delve deeper into the world of DPGs and discover their importance for Africa’s future. Register for our first webinar here to learn more. Register
GCA YouthADAPT Webinar: Building Climate-Resilient Supply Chains in Adaptation Businesses
GCA YouthADAPT Webinar: Building Climate-Resilient Supply Chains in Adaptation Businesses Climate change adaptation is an urgent and pressing issue demanding immediate attention. As the consequences of climate change become increasingly apparent, we are confronted with numerous challenges in effectively adapting to these shifts. Africa, home to the world’s youngest population, with approximately 60% of its inhabitants under the age of 25, presents a unique demographic landscape filled with both opportunities and obstacles. While the youth possess boundless energy, creativity, and a desire to contribute positively to their communities, they are also the most susceptible to the adverse effects of climate change. Engaging African youth actively in climate adaptation endeavors is imperative. By harnessing their vigor, ingenuity, and zeal, they can serve as formidable catalysts for change, championing sustainable practices, advocating for climate resilience, and implementing innovative solutions. Empowering the youth not only unlocks their potential but also fosters a collective commitment to address the formidable challenges posed by climate change in Africa. Aligned with this crucial need, the African Youth Adaptation Solutions Challenge (YouthADAPT Challenge) presents an insightful webinar titled “Building Climate-Resilient Supply Chains in Adaptation Businesses.” Scheduled for February 29th, 2024, at 2PM (WAT), 4PM (EAT) and 10AM (EST), the webinar will provide a unique opportunity for entrepreneurs, innovators, and stakeholders across Africa to explore the critical nexus between climate resilience and supply chain management. Organized by the Global Center on Adaptation and the African Development Bank, the YouthADAPT Challenge is an annual competition and awards program aimed at fostering sustainable job creation, entrepreneurship, and innovation in climate change adaptation and resilience. This initiative invites young entrepreneurs and Micro, Small, and Medium-sized Enterprises (MSMEs) in Africa to submit innovative solutions and business ideas that can drive adaptation and resilience efforts across the continent. The upcoming webinar highlights the indispensable role of climate-resilient supply chains in adaptation businesses. Speakers will delve into strategies, challenges, and best practices for enhancing supply chain resilience amidst the impacts of climate change. Participants can expect to gain valuable insights into navigating the complexities of supply chain management in an evolving climate landscape. As stated by Nanko Madu, the Director of Programs at AfriLabs, “This webinar provides a vital platform for stakeholders to deepen their understanding of the intersection between climate resilience and supply chain management. By fostering dialogue and sharing expertise, we can collectively work towards building more resilient businesses and communities in the face of climate change.” Join us on February 29th to engage in meaningful discussions, share experiences, and explore collaborative opportunities in building climate-resilient supply chains for adaptation businesses. Apply now before registration ends on the 28th of February. To learn more about the webinar contact Lisa on lisa@afrilabs.com. For general information about AfriLabs visit www.afrilabs.com. About the African Youth Adaptation Solutions Challenge The African Youth Adaptation Solutions Challenge (YouthADAPT Challenge) is an annual competition and awards program for youth-led enterprises jointly organized by the Global Center on Adaptation and the African Development Bank as part of the Africa Adaptation Acceleration Program YouthADAPT flagship pillar. The challenge seeks to boost sustainable job creation through support for entrepreneurship and youth-led innovation in climate change adaptation and resilience across Africa. The competition invites young entrepreneurs and Micro, Small, and Medium-sized Enterprises in Africa to submit innovative solutions and business ideas that can drive climate change adaptation and resilience.
Navigating the DeepTech Landscape: Challenges and Opportunities of DeepTech in Nigeria – Socio-Economic and Policy Implications
Navigating the DeepTech Landscape: Challenges and Opportunities of DeepTech in Nigeria – Socio-Economic and Policy Implications By Dr. Bienvenu Agbokponto Soglo, Director of Government Affairs Africa & IGA CTO Liaison, Intel, and Anna Ekeledo, Executive Director, AfriLabs With its diverse cultures, landscapes, and challenges, Africa stands at the edge of a technological revolution. DeepTech, an intersection of cutting-edge technology and scientific research, offers immense potential to reshape the socio-economic landscape of the continent, particularly in countries like Nigeria. However, amidst the promises of the region lie significant challenges and the need for carefully crafted policies to harness the opportunities effectively. DeepTech innovations such as artificial intelligence (AI), machine learning (ML), and blockchain have the potential to bridge information gaps and provide essential services to remote and underserved communities. For instance, AI-powered healthcare platforms can offer diagnostics and treatment recommendations, improving healthcare access even in rural areas. However, in Africa, particularly Nigeria, the adoption of DeepTech encounters various hurdles despite its potential advantages. Insufficient digital infrastructure poses a barrier to deploying DeepTech solutions, while a shortage of skilled professionals capable of developing and overseeing such technologies intensifies the challenge. Additionally, restricted access to funding presents obstacles to innovation and the expansion of DeepTech startups, compounded by the lack of clear regulatory frameworks, which introduces uncertainty for both DeepTech enterprises and investors. Given the challenges, policymakers must prioritize creating an enabling environment for DeepTech by investing in digital infrastructure to facilitate its deployment, emphasizing STEM education and training programs to equip the workforce with necessary skills, providing funding and incentives to stimulate innovation among DeepTech startups, and establishing clear regulatory frameworks that protect consumers and businesses while fostering innovation. In line with the imperative of embracing DeepTech and fostering technological innovation, Intel, a global leader in computing innovation, is spearheading an AI Programme scheduled to take place from the 5th to the 7th of March 2024 at Fraser Suites in Abuja, Nigeria. This initiative, aimed at empowering African communities with the transformative potential of artificial intelligence, aligns perfectly with the discourse on DeepTech’s challenges and opportunities in Africa. Partnering with AfriLabs, a network organization of innovation hubs across Africa, Intel’s AI Programme for African DeepTech Startups & Ecosystem Stakeholders underscores the importance of collaborative efforts in driving technological advancement on the continent. By bringing together stakeholders from government, academia, industry, and civil society, this programme seeks to showcase the latest advancements in AI technology and facilitate discussions on policy frameworks, skills development, and infrastructure investment necessary to harness the full potential of DeepTech in Africa. The journey ahead may be filled with challenges, but with concerted efforts and strategic partnerships, Africa can emerge as a global leader in DeepTech innovation, unlocking new opportunities and shaping a brighter future for generations to come.
Intel and AfriLabs Join Forces to Propel African DeepTech Ecosystem: Intel AI Programme Takes Center Stage in Nigeria.
Intel and AfriLabs Join Forces to Propel African DeepTech Ecosystem: Intel AI Programme Takes Center Stage in Nigeria. AfriLabs, the largest network of technology and innovation hubs across Africa, is proud to announce its collaboration with Intel to host the Intel AI event for African DeepTech Startups & Ecosystem Stakeholders. Scheduled to take place from the 5th to the 7th of March 2024, from 9:30 AM to 13:00 PM, this three-day event at Fraser Suites, Abuja, Nigeria, is set to fuel innovation and collaboration across the continent. With a mission to empower and equip Nigeria’s deep tech hubs, startups, and developers, the Intel AI Programme is more than just an event; it acts as a spur for change. The event will feature a series of insightful talks and panel discussions on the Challenges and Opportunities of DeepTech in Nigeria, an Introduction to the Intel Liftoff for Startups Program, Intel OneAPI initiative & Introduction to AI Tools at Intel, and an open exchange on how to build a startup community program. The sessions have been curated to arm participants with the essential skills, resources, and insights needed to thrive in the ever-evolving tech landscape. Anna Ekeledo, Executive Director at AfriLabs, expressed enthusiasm about the collaboration, stating, “We are excited to partner with Intel to drive forward the African DeepTech ecosystem. This event represents a significant opportunity to empower Nigeria’s deep tech hubs, startups, and developers, fostering growth and innovation in the region.” “Through our collaboration with AfriLabs, Intel is proud to ignite the African DeepTech ecosystem by providing expertise and training, development resources, and important networking opportunities. This partnership represents our commitment to empowering and equipping Nigerian DeepTech innovators with the resources and skills they need to succeed in the current landscape. Together, we are shaping a brighter future for technology innovation in the region,” said Dr. Bienvenu Agbokponto Soglo, Director of Government Affairs Africa and IGA CTO Liaison. Don’t miss your chance to be a part of this event, the Intel AI Programme for African Deep-Tech Startups & Ecosystem Stakeholders promises an exceptional opportunity to connect, collaborate, and co-create the future of technology in Africa. Apply now before submissions end on the 20th of February. 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. To learn more about the program and AfriLabs participation contact Jonathan on jonathan@afrilabs.com. For general information about AfriLabs visit www.afrilabs.com. For media inquiries, please contact pr@afrilabs.com & comms@afrilabs.com
Empowering Africa’s Innovation Ecosystem through AfriLabs Connect
Empowering Africa’s Innovation Ecosystem through AfriLabs Connect In the dynamic landscape of African innovation, AfriLabs Connect emerges as a pivotal force, fostering a sense of community and belonging among key stakeholders. This innovative platform, an initiative of AfriLabs, the continent’s premier network of innovation enablers, is igniting transformative change across the ecosystem. AfriLabs Connect serves as a vibrant hub where tech enthusiasts, entrepreneurs, and innovators from across the continent converge to share knowledge, forge partnerships, and catalyze growth. By seamlessly connecting individuals, startups, corporate entities, academic institutions, and even governments, AfriLabs Connect is revolutionizing the way collaboration happens in the innovation space. Members of AfriLabs Connect enjoy a plethora of benefits designed to propel their professional journeys forward. From networking opportunities with industry trailblazers to inspirational sessions and access to cutting-edge resources, the platform is a catalyst for innovation and progress. One of AfriLabs Connect’s impacts lies in its ability to nurture a profound sense of belonging among its members. In a world where isolation and disconnection threaten productivity and well-being, AfriLabs Connect provides a welcoming and inclusive space where individuals can thrive. Through shared experiences, collaborative endeavours, and a shared vision for the future, participants find not only professional fulfilment but also a true sense of community. The ripple effects of AfriLabs Connect extend far beyond its digital borders. By fostering collaboration and cooperation among diverse stakeholders, the platform is driving tangible change and propelling Africa’s innovation ecosystem to new heights. Join AfriLabs Connect today and be part of a movement that is reshaping the future of innovation in Africa. Together, we can unlock the continent’s boundless potential and build a brighter tomorrow for generations to come. Join AfriLabs Connect
The State of Fintech in Africa: The Role of Education and the 10×1000 Tech for Inclusions Initiative.
The State of Fintech in Africa: The Role of Education and the 10×1000 Tech for Inclusions Initiative. The African continent is witnessing an unprecedented surge in fintech innovation. This growth is driven by a combination of factors, including increased internet penetration, a young and tech-savvy population, and a pressing need for financial inclusion solutions. However, the sustainability of this burgeoning industry hinges on one crucial element: education. Education, particularly in the field of technology and finance, plays a pivotal role in fostering a sustainable fintech ecosystem. It equips individuals with the necessary skills to navigate, innovate, and lead in the fintech space. Knowledge, in this context, is not just about understanding the latest technologies but also about grasping the intricacies of the financial sector, regulatory frameworks, and the unique challenges and opportunities present in the African market. Introducing 10×1000 Tech for Inclusion Recognizing the importance of education in building a robust fintech industry, the International Finance Corporation (IFC) and Ant Group launched the 10×1000 Tech for Inclusion program in 2018. This philanthropic initiative aims to nurture and inspire 1,000 emerging talents and tech leaders each year for the next ten years. 10×1000 is an open and global fintech learning platform that enables learners to become drivers of digital economic growth. The program offers a crash course in fintech foundations for practitioners, covering topics such as the technology that makes fintech possible, best practices in product thinking, how to scale your business, and the relationship between digitalization and inclusion. The Fintech Foundation Program Flex is exclusive to professionals with at least 3 years of working experience, referred by 10×1000 alumni or its global partner network. In Africa, AfriLabs serves as a partner for the 10×1000 initiative. We are therefore calling upon Africans to enroll on the platform and access this free information. The program is completely free and fully online, making it accessible to individuals across the continent. Enroll now on the platform using the case-sensitive code “aflt4i”. Acceptance into the program is solely at the discretion of the 10×1000 team. The 10×1000 Tech for Inclusion program represents a significant stride towards building a sustainable fintech industry in Africa. By emphasizing education and offering accessible learning opportunities, the initiative is empowering individuals to contribute to the digital economic growth of the continent. As more Africans enroll and benefit from this program, the future of fintech in Africa looks promising.
Nurturing Youth Voices in the Digital Era for a Sustainable Future
Nurturing Youth Voices in the Digital Era for a Sustainable Future AfriLabs, a key player in fostering innovation throughout Africa, engaged in the 1st Digital Cooperation Organization’s (DCO) International Digital Youth Dialogue during its 3rd General Assembly in 2024. The event, held in Manama, Kingdom of Bahrain, on January 30, 2024, themed “Youth Voices in the Digital Era: Building a Sustainable Future,” served as a rallying cry for youth engagement in crafting a thriving and sustainable digital economy. Spearheaded by DCO in collaboration with the Ministry of Transportation and Telecommunications Kingdom of Bahrain, the event, nested within the larger framework of DCO’s 3rd General Assembly, provided a global platform with a primary focus on fostering conversations on the pivotal role of youth in steering development of the digital economy, propelling innovation, fueling economic growth, and ensuring the enduring sustainability of our digital landscape. The event further provided a platform for knowledge sharing, finding solutions to challenges, discussing the role of the stakeholders and fostering an environment for networking and collaboration. In the realm of digital evolution, the youth, as digital natives, wield a pivotal role in shaping the digital economy. However, they grapple with multifaceted challenges, ranging from a digital skills gap and restricted access to technology to educational disparities, economic inequality, job insecurity, cybersecurity threats, mental health repercussions, global competition, privacy concerns, and a lack of mentorship. These challenges underscore the imperative for concerted efforts from governments, educational institutions, and businesses to empower and bolster the youth in realizing their full potential within the digital era. Under the youth track, AfriLabs’ Executive Director, Anna Ekeledo participated in the program as a moderator for the session “Youth Voices in the Digital Era: Building a Sustainable Future.” The track comprised workshops focusing on understanding the digital landscape and empowering youth for a sustainable digital future. The discussions were focused on the challenges and barriers the youth participating in the digital economy face and suggested solutions for overcoming them to build a sustainable inclusive digital future. The workshop yielded significant outcomes, encompassing a thorough compilation of challenges impeding youth in the digital economy, an extensive catalog of solutions aimed at fostering a sustainable digital future, and the adoption of a declaration by the youth, titled “Global Youth Call to Action on Building a Sustainable Digital Future.” The latter is scheduled for release later this week. AfriLabs is committed to supporting initiatives that empower the youth, foster innovation, and ultimately contribute to a sustainable and inclusive digital future for Africa and beyond. For more information about our participation, please contact Peter Ekanem at peter@afrilabs.com. Join AfriLabs Connect today via www.africonnect.net and connect with the largest community of innovation enablers in Africa.
African youth-led innovations secure funding to transform adolescent mental and reproductive health at Youth Connekt Africa Summit 2023
African youth-led innovations secure funding to transform adolescent mental and reproductive health at Youth Connekt Africa Summit 2023 Nairobi, Kenya 11th Dec 2023: AfriLabs, in collaboration with the United Nations Population Fund (UNFPA), participated at the Youth Connekt Africa (YCA) Summit 2023, held from December 8th to 12th in Nairobi, Kenya. The annual summit centered around the theme “Youth Innovating a Borderless African Renaissance” offered a platform for policy discussions, storytelling, networking, and entrepreneur-focused programs, including a marketplace and investor meetings. In pushing for the advocacy on Mental Health and Adolescent Sexual and Reproductive Health and Rights (ASRHR), Afrilabs and UNFPA launched a project in July 2024 that seeks to address the interconnected challenges of mental health and ASRHR. Afrilabs organised a pitch competition event at the YCA summit and thus showcasing the two winners and overall outcomes of the hacklab at the Summit. Ten finalists drawn from Malawi, Namibia, Botswana, Eswatini, Mozambique, South Africa, Lesotho, Zimbabwe, and Rwanda competed for the top prize at the pitch event held on the sidelines of the Youth Connekt Africa Summit 2023. The innovative solutions presented at the Summit stemmed from a 3-day online bootcamp organized by Afrilabs in October. Two Remarkable solutions emerged from young innovators across the continent, proposing novel approaches to positively impact the lives of adolescents and youth in the fields of mental health and reproductive health. A rigorous evaluation process, led by a jury featuring representatives from AfriLabs’ network of experts, culminated in the selection of two winning solutions. These outstanding projects not only secured $20,000 each in scale funding but also earned exclusive business incubation support that will be facilitated by Afrilabs through their extensive network of innovation hubs. Standing at the forefront of empowerment through digital media, Selma Ndasilohenda Iyambo from Namibia claimed the top spot with her groundbreaking youth podcast. Delving into the realms of Sexual and Reproductive Health (SRH) and mental health, the podcast also serves as a powerful tool for uplifting young mothers and fostering community impact. On the heels of this achievement, Tilitonse Concept, led by Tapiwa Penama from Malawi, emerged as the second-place winner. Functioning as a comprehensive hub, it empowers the youth residing in Malawi’s Dzaleka camp with valuable insights into mental health and crucial Adolescent Sexual and Reproductive Health and Rights (#SRHR) choices. Together, these innovative solutions embody a vision for positive change, demonstrating the transformative potential inherent in forward-thinking initiatives. In closing, the Youth Connekt Africa Summit 2023 has not only been a gathering of minds but a testament to the resilience and creativity of Africa’s youth. Afrilabs, in partnership with UNFPA, has spearheaded initiatives that address critical aspects of adolescent health, leaving an indelible mark on the landscape of innovation. The winning solutions, forged through collaboration and determination, pave the way for positive change, echoing the potential of technology and creativity to transform lives. As we reflect on this summit, let it be a reminder that the journey towards a brighter, healthier future is powered by the ingenuity and passion of the continent’s youth, whose ideas continue to shape the trajectory of Africa’s progress. Over the last 2 years of collaboration between AfriLabs and UNFPA over 200k USD has been given to over 9 innovators turned startups to scale their efforts in fighting against harmful practices through establishment of social impact businesses. For more information on our participation at the Youth Connekt Africa Summit 2023 – Mental Health and ASRHR Hacklab Final Pitching please contact baluku(@)afrilabs.com.