The Elephant in Africa's startup Ecosystem's living room
Hi Listers, This article so clearly articulates the least spoken about attribute in Africa's startup scene - but the one that affects it the most. Very good read...but it doesn't answer the question as to how to solve this issue.... "Owners of capital dictate what gets done and who gets to do it. Currently, nearly all capital active in the African startup ecosystem is foreign." https://medium.com/@mark_65941/the-digital-scramble-for-africa-31f3e4c33e99 Best regards, Mblayo
Brian I have a very different take and attitude to this crap about foreigners being funded in Africa. I'm sorry guys. Charity begins at home. Let me put it more succinctly. *Money is Tribal. Money is Racist.* Investors give money to people they trust and like. Trust and like comes with knowing someone. Product, service innovation comes later. Instead of us Africans continuously lamenting about foreign money funding foreign startups let's start with asking the Million Dollar question:- How many local Angel Investors and Venture Capital are funding African Businesses? How many of us put money in a KaPloti in Kitengela instead of funding a Startup in Silicon Savannah? That article is misplaced. My two cents. *Ali Hussein* *Principal* *AHK & Associates* Tel: +254 713 601113 Twitter: @AliHKassim Skype: abu-jomo LinkedIn: http://ke.linkedin.com/in/alihkassim <http://ke.linkedin.com/in/alihkassim> 13th Floor , Delta Towers, Oracle Wing, Chiromo Road, Westlands, Nairobi, Kenya. Any information of a personal nature expressed in this email are purely mine and do not necessarily reflect the official positions of the organizations that I work with. On Fri, Mar 16, 2018 at 10:25 AM, Brian Munyao Longwe via kictanet < kictanet@lists.kictanet.or.ke> wrote:
Hi Listers,
This article so clearly articulates the least spoken about attribute in Africa's startup scene - but the one that affects it the most. Very good read...but it doesn't answer the question as to how to solve this issue....
"Owners of capital dictate what gets done and who gets to do it. Currently, nearly all capital active in the African startup ecosystem is foreign."
https://medium.com/@mark_65941/the-digital-scramble- for-africa-31f3e4c33e99
Best regards,
Mblayo
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We really need to stop referring to such money as “smart money”. -- Phares
On Mar 17, 2018, at 4:08 PM, Ali Hussein via kictanet <kictanet@lists.kictanet.or.ke> wrote:
Brian
I have a very different take and attitude to this crap about foreigners being funded in Africa. I'm sorry guys. Charity begins at home. Let me put it more succinctly.
Money is Tribal. Money is Racist.
Investors give money to people they trust and like. Trust and like comes with knowing someone. Product, service innovation comes later.
Instead of us Africans continuously lamenting about foreign money funding foreign startups let's start with asking the Million Dollar question:-
How many local Angel Investors and Venture Capital are funding African Businesses? How many of us put money in a KaPloti in Kitengela instead of funding a Startup in Silicon Savannah?
That article is misplaced.
My two cents.
Ali Hussein Principal AHK & Associates
Tel: +254 713 601113 Twitter: @AliHKassim Skype: abu-jomo LinkedIn: http://ke.linkedin.com/in/alihkassim
13th Floor , Delta Towers, Oracle Wing, Chiromo Road, Westlands, Nairobi, Kenya.
Any information of a personal nature expressed in this email are purely mine and do not necessarily reflect the official positions of the organizations that I work with.
On Fri, Mar 16, 2018 at 10:25 AM, Brian Munyao Longwe via kictanet <kictanet@lists.kictanet.or.ke> wrote: Hi Listers,
This article so clearly articulates the least spoken about attribute in Africa's startup scene - but the one that affects it the most. Very good read...but it doesn't answer the question as to how to solve this issue....
"Owners of capital dictate what gets done and who gets to do it. Currently, nearly all capital active in the African startup ecosystem is foreign."
https://medium.com/@mark_65941/the-digital-scramble-for-africa-31f3e4c33e99
Best regards,
Mblayo
_______________________________________________ kictanet mailing list kictanet@lists.kictanet.or.ke https://lists.kictanet.or.ke/mailman/listinfo/kictanet Twitter: http://twitter.com/kictanet Facebook: https://www.facebook.com/KICTANet/ Domain Registration sponsored by www.eacdirectory.co.ke
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KICTANetiquette : Adhere to the same standards of acceptable behaviors online that you follow in real life: respect people's times and bandwidth, share knowledge, don't flame or abuse or personalize, respect privacy, do not spam, do not market your wares or qualifications.
_______________________________________________ kictanet mailing list kictanet@lists.kictanet.or.ke https://lists.kictanet.or.ke/mailman/listinfo/kictanet Twitter: http://twitter.com/kictanet Facebook: https://www.facebook.com/KICTANet/ Domain Registration sponsored by www.eacdirectory.co.ke
Unsubscribe or change your options at https://lists.kictanet.or.ke/mailman/options/kictanet/phares.kariuki%40gmail...
The Kenya ICT Action Network (KICTANet) is a multi-stakeholder platform for people and institutions interested and involved in ICT policy and regulation. The network aims to act as a catalyst for reform in the ICT sector in support of the national aim of ICT enabled growth and development.
KICTANetiquette : Adhere to the same standards of acceptable behaviors online that you follow in real life: respect people's times and bandwidth, share knowledge, don't flame or abuse or personalize, respect privacy, do not spam, do not market your wares or qualifications.
Agreed completely. *Ali Hussein* *Principal* *AHK & Associates* Tel: +254 713 601113 Twitter: @AliHKassim Skype: abu-jomo LinkedIn: http://ke.linkedin.com/in/alihkassim <http://ke.linkedin.com/in/alihkassim> 13th Floor , Delta Towers, Oracle Wing, Chiromo Road, Westlands, Nairobi, Kenya. Any information of a personal nature expressed in this email are purely mine and do not necessarily reflect the official positions of the organizations that I work with. On Sun, Mar 18, 2018 at 8:30 AM, Phares Kariuki <phares.kariuki@gmail.com> wrote:
We really need to stop referring to such money as “smart money”.
-- Phares
On Mar 17, 2018, at 4:08 PM, Ali Hussein via kictanet < kictanet@lists.kictanet.or.ke> wrote:
Brian
I have a very different take and attitude to this crap about foreigners being funded in Africa. I'm sorry guys. Charity begins at home. Let me put it more succinctly.
*Money is Tribal. Money is Racist.*
Investors give money to people they trust and like. Trust and like comes with knowing someone. Product, service innovation comes later.
Instead of us Africans continuously lamenting about foreign money funding foreign startups let's start with asking the Million Dollar question:-
How many local Angel Investors and Venture Capital are funding African Businesses? How many of us put money in a KaPloti in Kitengela instead of funding a Startup in Silicon Savannah?
That article is misplaced.
My two cents.
*Ali Hussein*
*Principal*
*AHK & Associates*
Tel: +254 713 601113
Twitter: @AliHKassim
Skype: abu-jomo
LinkedIn: http://ke.linkedin.com/in/alihkassim <http://ke.linkedin.com/in/alihkassim>
13th Floor , Delta Towers, Oracle Wing,
Chiromo Road, Westlands,
Nairobi, Kenya.
Any information of a personal nature expressed in this email are purely mine and do not necessarily reflect the official positions of the organizations that I work with.
On Fri, Mar 16, 2018 at 10:25 AM, Brian Munyao Longwe via kictanet < kictanet@lists.kictanet.or.ke> wrote:
Hi Listers,
This article so clearly articulates the least spoken about attribute in Africa's startup scene - but the one that affects it the most. Very good read...but it doesn't answer the question as to how to solve this issue....
"Owners of capital dictate what gets done and who gets to do it. Currently, nearly all capital active in the African startup ecosystem is foreign."
https://medium.com/@mark_65941/the-digital-scramble-for- africa-31f3e4c33e99
Best regards,
Mblayo
_______________________________________________ kictanet mailing list kictanet@lists.kictanet.or.ke https://lists.kictanet.or.ke/mailman/listinfo/kictanet Twitter: http://twitter.com/kictanet Facebook: https://www.facebook.com/KICTANet/ Domain Registration sponsored by www.eacdirectory.co.ke
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The Kenya ICT Action Network (KICTANet) is a multi-stakeholder platform for people and institutions interested and involved in ICT policy and regulation. The network aims to act as a catalyst for reform in the ICT sector in support of the national aim of ICT enabled growth and development.
KICTANetiquette : Adhere to the same standards of acceptable behaviors online that you follow in real life: respect people's times and bandwidth, share knowledge, don't flame or abuse or personalize, respect privacy, do not spam, do not market your wares or qualifications.
_______________________________________________ kictanet mailing list kictanet@lists.kictanet.or.ke https://lists.kictanet.or.ke/mailman/listinfo/kictanet Twitter: http://twitter.com/kictanet Facebook: https://www.facebook.com/KICTANet/ Domain Registration sponsored by www.eacdirectory.co.ke
Unsubscribe or change your options at https://lists.kictanet.or.ke/ mailman/options/kictanet/phares.kariuki%40gmail.com
The Kenya ICT Action Network (KICTANet) is a multi-stakeholder platform for people and institutions interested and involved in ICT policy and regulation. The network aims to act as a catalyst for reform in the ICT sector in support of the national aim of ICT enabled growth and development.
KICTANetiquette : Adhere to the same standards of acceptable behaviors online that you follow in real life: respect people's times and bandwidth, share knowledge, don't flame or abuse or personalize, respect privacy, do not spam, do not market your wares or qualifications.
Just wondering if the kiosks in the neighborhood around the country can be considered startups with the amount of capital involved even though not in millions of dollars? What is considered a startup? Noah
participants (4)
-
Ali Hussein -
Brian Munyao Longwe -
Noah -
Phares Kariuki