#TBT: Why Lack of Funding in Africa’s Technology Sector is a cause for concern

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‘Africans should be investing in Africans’ says Jason Njoku, the founder and CEO of iROKO TV. Entrepreneurs, especially Tech entrepreneurs shouldn’t have to rely on International Venture Capitalist. There must be a happy balance to ensure better wealth distribution. Foreign Investors are fast beginning to realize the enormous market potential as they have analysed the data, and have studied the population growth rate for Nigeria and the whole of Africa. According to the entrepreneur it would be a disappointment if all the profits from the IPO of an African company leaves the continent because there were only investments from overseas. Now is the time for Nigerian and African Investors in general to realize the potential in the young entrepreneurs and help them build profitable internet businesses that will cater for the world’s fastest growing youth demographic. No one understands the African business space like Africans, therefore it is only imperative that Africans take the driving seat in moving it forward.

Excerpts from Sustainability: Why lack of funding in Africa’s technology sector is a cause of concern by Jason Njoku in CSRFilesTM Vol 4 Issue 2, 2014

 

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