Across Africa, young innovators are wielding tech like a wand, tackling problems from finance to healthcare with fresh, digital solutions. Fintech platforms are streamlining online transactions, delivery services are zipping goods around cities, and digital marketplaces are connecting buyers and sellers like never before. This entrepreneurial surge is fueled by rising internet penetration, a tech-savvy consumer base, and a growing appetite for African solutions.
And the money? It’s following. Local and global investors are recognizing the continent’s hidden gem – its startups. “Africa: The Big Deal” paints a vivid picture, showcasing the top startup funding from 2019 to 2023. Nigeria, Kenya, South Africa, and Egypt are leading the charge, with billions flowing into their innovative ventures. But where’s Ethiopia?
While the Ethiopian tech scene simmers with potential, its funding reality is a stark contrast. The numbers don’t lie – Ethiopia hasn’t even cracked the $100 million mark yet. This begs the question: isn’t it time for the draft Start-up and Innovative Business Proclamation to take flight?
This “game-changing” bill promises to be a launchpad for Ethiopian startups. Imagine a smoother runway for obtaining business licenses, tax breaks for take-off, accessing an innovation fund, and even special employment benefits for entrepreneurs who want to tryout their own startup without risking their current employment.
With the proclamation as its tailwind, Ethiopia’s tech scene could finally unlock its full potential. It’s time to rewrite the narrative – from “potential” to “powerhouse.” Let’s make Ethiopia the next African tech giant, one funded startup at a time.
