Entrepreneurs Gather in Silicon Valley to Discuss Investment in Africa

[00:00.16] At the Computer History Museum in the heart of Silicon Valley, people gathered recently at the African Diaspora Investment Symposium to talk about the future of Africa business.

[00:11.37] In the past, many Africans and especially people like me from the diaspora were not invited to the table to really discuss on issues that mattered for the continent.

[00:21.13] So we said, well, what if we can just bring everyone together so we can have that discussion at the same table?

[00:27.77] Remittances, money set by people living in the U.S. to family in Africa, has long been a key way to support the continent, speaker said.

[00:38.13] But Negash and others said there are other uses of diaspora funds.

[00:42.91] How do we scale remittances, so that it can also be invested in other people than our family, supporting startups?

[00:54.07] While many investors and businesses want to come to Africa, it can be a challenge to navigate, which is why African nations have been working on the African continent of free trade area, said Joseph Mucheru, Google's first Sub-Saharan African lead and our minister in the Kenya government.

[01:12.66] How do they with the different regulations, different countries be able to get into the continent? So we are providing the platform that they can now use.

[01:27.01] They come, and as part of the continental free-trade area, they are able to then go to many of the other different markets.

[01:28.60] For the roughly 50 African entrepreneurs attending the event, this was an opportunity to pitch their businesses.

[01:35.77] Aboubacar Komara, an architect from Guinea, is working on a housing startup.

[01:41.62] We're implicating people in the process of actually building their homes, you know.

[01:49.85] We want to change the concept of what is architecture because architecture has a lot to do with your identity.

[01:51.98] Neile Nkholise is the chief executive of a sports technology company in South Africa.

[01:57.55] We have a smart wearable that are sewn into the garments around the joint ankles of the athletes' garments.

[02:06.06] Barbara Birungi Mutabazi runs Uganda Women In Technology, which trains female students and young women for technology jobs like coding.

[02:15.35] Yeah, I made some really good connections especially in terms of funding, fundraising. And I'm proud to be a second generation family business leader.

[02:23.32] For many of the attendees, the event was a welcome chance to talk about Africa's successes.

[02:28.38] Thelma Ekiyor runs a Nigeria-based business accelerator and an investment fund for women-run businesses.

[02:35.81] "I think one of the problems that Africans had for years is we tend not to talk about the progress and the developments that are happening on the continent,

[02:45.64] So it's been a pleasure to come here and share with people that live here in the valley about the work that we're doing.

[02:55.19] The connections made at this event can be long lasting as people look for ways to be part of the burgeoning African business sector.