What to Expect from the Africa Tech Summit 2019
As a part of the London Tech week, the Africa Tech su...
With the conference a under week away, here is what to expect from the Africa Tech Summit 2019.
As a part of the London Tech week, the Africa Tech summit will take place June 11. 2019. The event is the fourth of its kind, and will provide the opportunity to speak to and hear from African business leaders, as well as networking opportunities with international tech leaders and investors to drive growth in Africa.
Over 250 key stakeholders from across the country will be in attendance at the 5 Star Leonardo Royal Hotel London St Paul’s, situated next to St Paul's Cathedral.
The conference will host over 50 expert speakers, including Erick Yong of GreenTec Capital, Chijioke Dozie of OneFi & Caron, Tunde Kehinde of Lidya, and Tomy Davies of Lagos Angel Network (LAN).
The morning will begin with Blockchain and Crypto for Africa, featuring talks from Edward George, CNO of Kleos; Ted Lin, Chief Growth Officer of Binance; Elizabeth Rosiello, CEO and Founder of BitPesa, amongst many others.
Pitch Live will take place mid morning, allowing ventures to showcase their services, as well as seeking new partners or funding.
The African Fintech Landscape boasts an impressive range of speakers such as: Selma Ribica, Venture Partner of AfricInvest; Omosalewa “O” Adeyemi, responsible for Global Partnerships at Flutterwave; Simeon Ononobi, CEO of ThankUCash; Saad Sheikh, Principal TLG Capital; and Richard Woodhull, the Director of the Overseas Private Investment Corporation (OPIC)
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Other sessions include Tech for Good, Women in Tech, Venture Capital, and several networking opportunities throughout the day.
The event was first launched in 2016 with the goal of connecting European and African markets together to share ideas and drive respective economies. Previous speakers include: FC, EcoBank, Savannah Fund, Etisalat Nigeria, Draper Dark Flow, Safaricom, Atlas Mara, FNB, Standard Bank, Opera Software, BRCK, BBOXX, CcHUb Nigeria, Orange Digital Ventures, Leapfrog Investments, Barclays, ABAN, TechStars, MEST, Standard Chartered, Worldreader, Linklaters, Mobi Hunter, Singularity Investments and BitPesa.
The flagship event in Africa, the Africa Tech Summit Kigali, takes place in February 14-15. 2020.
Start-ups receive $60 billion investment, smash 2020 record
Start-ups on the continent have raised a massive 43.8 billion euros ($60.9 billion) in just the first six months of 2021, according to figures from Dealroom, surpassing the record 38.5 billion euros invested last year..
This is despite the fact that the number of venture deals signed so far is around half the amount agreed in 2020. Only about 2,700 funding rounds have been raised so far this year, compared to 5,200 last year.
Prime examples in times of change
Examples are Swedish buy-now-pay-later firm Klarna which has raised more than $1.6 billion in two financing rounds, the German stock trading app Trade Republic received $900 million in May and British payments provider Checkout.com snapped up $450 million at the start of the year.
The figures suggest that European tech firms are pulling in far larger sums of money per investment than in previous years, which defies the economic uncertainty of the pandemic and boosted online services enormously.
The CEO of Checkout.com, Guillaume Pousaz, said start-ups have often been created in times of crisis, citing the emergence of several new financial technology companies in the wake of the 2008 global financial crisis.
He added that big transformational change was often the time when there is the emergence of a lot of new start-ups, sometimes when people are losing their jobs for associated reasons.
UK leading the charge
Scale-Up Europe, a group that includes the founders of UiPath and Wise, proposed 21 recommendations to help the region build “the next generation of tech giants.” Among the suggestions are tax credits to corporates for investing in start-ups and regulatory changes that adapt to new innovations.
Sebastian Siemiatkowski, CEO of Klarna, said the U.K. leads Europe when it comes to tech policy, and that there were a number of regulatory issues needing to be addressed before the European Union can produce tech giants of its own.
Siemiatkowski highlighted EU regulation of web cookies as an example of “poor regulation.” Yet, as the number of $1 billion start-ups in Europe continues to grow, the number of exits in the continent is also increasing.
This year has already seen some notable acquisitions, including Etsy’s $1.6 billion purchase of U.K. fashion resale app Depop and JPMorgan’s takeover of London robo-advisor Nutmeg.
As for stock market listings, a number of notable debuts have taken place in London in particular, including food delivery app Deliveroo, cybersecurity firm Darktrace and reviews site Trustpilot. Money transfer giant Wise, formerly known as TransferWise, plans to go public in the U.K. capital soon.