African Tech Summit Cape Town 5-10 Nov 2022 – mobilising UK investment & financial services

The African fintech/tech arena tells an interesting story, of growth and an exceptionally busy Q3 2022 - what better way to engage with this burgeoning sector - than to connect directly with global investors, major ecosystem players and ~30 finalist start-ups from AfricArena’s programme, at this year’s African Tech Summit. This pan-African event will be held in Cape Town, and comprises numerous tailored sub-events over the entire week (5-10 November).

The UK Department for International Trade’s (DIT) Africa network is a platinum partner of the event, contributing a uniquely UK-centric point of view, including the presence of key British investors (notably British International Investment) and wider UK Government participation, from its Kenyan, Nigerian and South African sponsored-tech hubs. It is estimated that in 2030, the UK Gross Value Added contribution supported by the fintech sector (including the sector’s direct and indirect contribution) may increase to ￡24 billion. Global geographic investor contributions (confirmed by the data and research partner, Briter Bridges), clearly illustrate, how the UK can (by significantly increasing its investment into the African fintech/tech arena) become a major investor and partner to the African continent, thus meaningfully contributing towards the realisation of this ambition.

Furthermore, this presents an opportunity to participate in the exponential growth of Africa’s fintech/tech space, which aligns directly with the UK’s desire to further its ‘international attractiveness and competitiveness’ via the launch of an international fintech brand strategy, to be co-led by DIT and industry (per the Kalifa Review). The goal for the UK is also to increase its global market share from 10% to 12%, representing an increase in revenue of ￡46 billion.

Quantifying the relevant size of the African market, signifies the potential for growth as Africa only accounts for about 0.8% of the global market – interestingly, prevailing market dynamics, will be on the agenda, including;

• Consistency and steadiness of funding, vs. the global vacuum of capital, in light of recent economic and geo-political events; and
• The importance of robustness, signifying the relevance of realistic valuations and reasonable ticket sizes on offer to potential investors.

Join myself and the wider UK Government team at the Asara Wine Estate (in the glorious Stellenbosch wine region) for the Unconference Event and at the Grand Summit, hosted at the Old Biscuit Mill in Cape Town’s edgiest neighbourhood, Woodstock. The conversation is well underway and the UK’s involvement as a key exporter of core financial and professional services, and investor cannot be overstated.

#AfricArena2022 #GrandSummit2022