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On this episode of Enterprise Africa:
Agricultural transformation is underway in Africa and attracting an increasing number of traders; Nigeria is not the continent’s largest oil producer; creating and selling the cultural sector as an financial driver.
The agrifood tech start-up growth
The agri-tech start-up ecosystem has been flourishing in Africa for the previous two years. Though there are challenges, notably by way of entry, the agri-tech startup scene continues to draw investor curiosity.
Fundraising by startups working within the agri-tech area in Africa stood at $482.3 million in 2021, a 250% development over the earlier 12 months. Since 2017, the sector has garnered greater than $1 billion in investments. Francis Dossou Sognon, Managing Director of AgroSfer answered our questions.
Nigeria is not the king of African oil
In accordance with the Nigerian Petroleum Regulatory Fee, the nation’s manufacturing in August fell to 972,000 barrels per day, its lowest stage in over 30 years.
Oil manufacturing has been steadily declining for months, with authorities blaming elevated theft of crude oil and sabotage at manufacturing websites.
Growing and selling cultural industries
Africa has a formidable pool of creators able to feeding the principle financial sectors of tradition. To democratize artwork as an financial engine, assist platforms do exist.
The ACP-EU tradition program “Create in Central Africa” has simply launched a 3rd and ultimate name for proposals in assist of cultural and inventive industries (CCI) within the sub-region.
In the identical vein, in Cote d’Ivoire, the funding firm Birimian and Orange Financial institution Africa have introduced a partnership devoted to financing Ivorian cultural operators.
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