The parallels between the Silicon Valley tech ecosystem and the emerging African tech landscape were evident, but so were the gaps. Building on this momentum, Marcella partnered with MAGIC Fund, founded on the principle of “founders backing founders”, and the belief that innovation knows no borders. Engaging with founders at the earliest stages across various markets, Marcella has observed striking similarities between emerging innovation ecosystems, particularly between Latin America and Africa. Capital constraints have only gotten greater recently, given the way the current global capital shortage has disproportionately affected African founders. “These challenges have made it increasingly difficult for promising African companies to secure the necessary funding to scale,” she said.

Source: The North Africa Journal November 08, 2024 08:34 UTC