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Changing the continent’s narrative requires solving old problems and using the power of new technologies, said Akindele, a Nigerian entrepreneur and investor.
Speaking ahead of the 2022 African Business Leader of the Year award at the British House of Lords on Monday, Akindele told CNN that the next big thing on the continent will be the technology industry.
Afrobitis has grown in popularity with African artists’ songs and has been featured internationally in parties and nightclubs. At the recent BET (Black Entertainment Television) Awards 2022, the Wise and Thames of Nigeria in Los Angeles competed against American stars such as Kendrick Lamar, Doja Cat and Drake.
According to the report, 125 technology startups in Africa In 2015, it received $ 185 million, but by 2021, 564 startups had $ 2.1 billion.
Africa’s ecological ecosystem has seen the creation of many unicorns. In countries like Nigeria, home to five of the seven technology unions on the continent, these success stories are still seen by Nigerians and Africans, not by international technology companies. Akindele noted that the global adoption of African technology companies requires the same effort as Afrobitis is known around the world.
“Afrobitis were deliberately exported by people in the business who believed they could compete with the world’s best.
“Love affair with defeat”
“Success is good for creativity and creativity. Everything that is successful today is based on failure. To encourage more people in Africa not to be afraid, we share related stories that will make them realize whatever they are. They are going, magic is possible,” he told CNN.
Akindele said Africa’s growing Fintec ecosystem has been promising in the global market for ten years.
In early June 2022, an African Fintech company, MFS Africa, announced the acquisition of Oklahoma-based Global Technology Partners for $ 34 million – a move that the Financial Times described as “unusual for an African group to enter into a technology deal in the United States.”
“I think the time is coming when African Fintech companies will buy marriages by buying international financial institutions, because they are solving the financial problems on the continent. [also] Solving global financial problems, ”Akindele said.
Building a new Africa
Akindele is chairman of Platform Capital, a venture capital garment company that invests in technology companies around the world, but mostly in Africa. In May 2022, Medrek Capital Zuri Health has announced that it has invested in affordable healthcare services via SMS, WhatsApp and various apps. “Technology will be a way for Africa to solve its problems quickly, reach out to the rest of the world,” Akindle said.
“Technology has reduced barriers to problem solving, market access, knowledge and everything else. Market knowledge is now more accessible,” he said.
Among the many garments that Akindele wears are being developed by DupledMedimity Limited, Nigeria’s first energy park. The company, which is based in Edo State, said the park will include refineries, gas processing, compressed natural gas and power generation over a five-year period. Indirectly, thousands of people will be affected by the energy park, Akindle said.
But building a new Africa involves some of the challenges the continent is facing: inadequate energy supply and food insecurity in some countries – by investing in new technologies and being actively involved.
“We have never been left behind,” Akindle said. “We firmly believe that young people and African elders can work together to build a new Africa.”
The “seniors” know how to build a solid industrial infrastructure, while the “newcomers” know how to run a successful business. “To address long-standing food, infrastructure, energy and transportation problems, we” connect them with payment, robotics, health technology and more. Africa can create a world of its own future. ”
Akindle argues that despite the countless challenges Nigeria faces, he has a “hopeful and confident spirit” in the Nigerian narrative. We are stronger than we think.
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