African Innovation Insider: The Newsletter of African Renaissance Partners
African Renaissance Partners joins the Africa Venture Capital and PE Association, Kubik wins Startup of the Year, Sudan takes steps toward democracy and economic growth, and more.
We wish those observing a Ramadan Kareem, as well as the Ethiopian fasting season, corresponding this year.
Welcome to the updated monthly newsletter from African Renaissance Partners. As many of you know, we are backing the entrepreneurs and innovators transforming Africa. The Horn of Africa is a dynamic and fast-growing region of 210+ million people, with a growing middle class, increasing stability, and investment opportunities not found anywhere else in the world. The region is young, and young people are transforming the region. The primary constraint they face is a lack of capital.
We are working to help build a sustainable startup economy in the Horn of Africa, leveraging tech solutions and business models proven across Africa. We are new, but Pitchbook data shows that new managers significantly outperformed the market. Over half of the top 10 funds between 2004 and 2016 were new managers. Strong performance will reward investors and attract more capital to the Horn.
We see opportunities for venture returns and impact by backing entrepreneurs using technology to solve some of the region's most significant issues. Over half of Sudanese, 80% of Somalis, and 90% of South Sudanese lack electricity. Around 60% of Ethiopian adults are unbanked, and in Sudan, the figure is closer to 80%. Market inefficiencies hold back productivity. Yet mobile phone penetration is very high. So we’re investing in solutions that leverage mobile connectivity, such as fintech, payments, logistics, agtech, health tech, and renewable energy.
Every month we’ll update you on what we’re seeing and learning from entrepreneurs in the Horn of Africa, the significant trends moving our markets, and the portfolio companies we’re working with. Please send us your feedback!
- African Renaissance Partners
In Sudan, stakeholders are finalizing a framework agreement to restart the transition to democracy, with signing expected to occur over the coming weeks. There remains some disagreement around the timing and sequencing of security sector reform. Restarting the transition would be a significant step forward for Sudan.
Activities In Ethiopia’s Industrial Parks Are Encouraging: US Foreign Trade Councilors
Local problems, local solutions: Agriprenuer eyes to bridge the gap in edible oils
The Independent: African women leaders in Business and Tech
February 19-23, Henok participated in Gulfood, the world’s largest food and beverage sourcing event.
On March 2nd, African Renaissance Partners participated in a World Economic Forum working group focused on the “G” in ESG in venture capital at WEF offices in NYC.
On March 14, Yannick’s organization SPARK held the first-ever Ignite conference, an annual gathering focused on youth entrepreneurship and job creation, in partnership with DIHAD in Dubai. For the last decade, it has been held in Amsterdam.
On March 20th, Magdi spoke at the Afrika-Verein/GIZ’s “Digital Business Talk Sudan,” highlighting the tremendous opportunities in digital entrepreneurship in Sudan for a German corporate audience.
On March 22 two of our warehoused investees who have won matching grants spoke at the Catalytic Africa event.
On March 27-29, Magdi participated in the Global Private Capital Association’s annual conference in New York (formerly EMPEA), which brings together the global venture capital community and Limited Partners.
On April 12th African Renaissance Partners will participate in the Africa Fintech Summit in Washington, DC, where Magdi will speak on a panel on fintech regulation.
On May 2-4, African Renaissance Partners, now a member of the Africa Venture Capital and PE Association, will participate in the annual AVCA gathering in Cairo.
To learn more, email us at info@African-Renaissance.com. To sign up to participate here.