African startup landscape, tech pays in Uganda and a $200m Smart city?
a QCX Africa publication
Hi QCX People!
Despite some difficulty in sustaining growth in the African market, it seems businesses are making a concerted effort to ensure that this changes – and soon! We’re spotlighting some of these transformative movements across the continent, and as always providing some tips to take full advantage of them for your activities in Africa.
🦄 Creating more Unicorns in Africa - (Moneyweb)
Why it actually matters: By learning from success in the African startup ecosystem, businesses can navigate this market effectively, driving growth and staying ahead of the competition.
Summary: Africa has seen an innovation surge, but a lack of new unicorns (startups with a valuation of $1 billion or more) emerging from the market. A solution to faltering startups lies in enterprises revamping their partnership approach, investing strategically in high-impact tech startups, overcoming risk aversion, and fostering collaboration without stifling startups' agility.
Marketing insight: Unlock secrets to creating more African unicorns by learning from successful startups; strategic investments and agile partnerships. This is key to navigating and leading in this unique market.
🏙️ The city of the future is in Congo - (AllAfrica)
Why it actually matters: East African citizens have been called on to invest across the borders in order to boost integration and social- economic development in the region that comprises seven countries.
Summary: Kasangulu Smart City in the Democratic Republic of Congo will come at a cost of $210M (USD). This 40-hectare project includes a hospital, school, train station, theme park, malls, housing and more. The project is set to be completed in 2027.
Marketing insight: By focusing on regional integration, companies can leverage marketing strategies to connect with a diverse, economically growing audience in East Africa, driving growth and cross-border investment.
💰Uganda incentivises innovation - (Tech in Africa)
Why it actually matters: Africa’s willingness and motivation to drive tech is rising, presenting attractive opportunities for businesses looking to enter the African market.
Summary: Uganda aims to become East Africa's tech hub, with the President announcing a $150M science and technology fund and a decade-long tax break for innovative firms. The Minister of Science, Technology, and Innovation, Dr Musenero, expressed the ambition to position Uganda as the top investment destination.
Marketing insight: Strategically position your brand in Uganda's evolving tech landscape, leveraging these incentives to gain a competitive edge and connect with a tech-forward audience in East Africa.
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Fact: ‘Q’, ‘C’ and ‘X’ are the English denotations for the 3 most common linguistic clicks in African languages. If you can say all three clicks, three times in a row fast, you can legally call yourself African.
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