The leap into the tech space, and then to investing in tech startups, was not planned. “We have backed 30 companies in sectors like fintech, ed-tech, e-health, and SaaS across two funds in three African countries,” Koleowo said. “Once you become a Microtraction company you have access to that network,” Koleowo said. That said, African founders often lack business support while building their companies, an issue Microtraction attempts to address. That support should also come from policymakers, but Koleowo said governments are not doing enough to boost local startup ecosystems.

Source: The North Africa Journal November 23, 2021 07:21 UTC