12 °c
London
Saturday, August 13, 2022
No Result
View All Result
FurtherAfrica
  • Countries
    • Angola
    • Botswana
    • Cape Verde
    • DRC
    • Eswatini
    • Ethiopia
    • Kenya
    • Malawi
    • Mauritius
    • Mozambique
    • Namibia
    • Nigeria
    • Rwanda
    • South Africa
    • Tanzania
    • Uganda
    • Zambia
    • Zimbabwe
  • Interviews
  • Understanding
  • Videos
  • Travel
  • Weekend
  • About
FurtherAfrica
  • Countries
    • Angola
    • Botswana
    • Cape Verde
    • DRC
    • Eswatini
    • Ethiopia
    • Kenya
    • Malawi
    • Mauritius
    • Mozambique
    • Namibia
    • Nigeria
    • Rwanda
    • South Africa
    • Tanzania
    • Uganda
    • Zambia
    • Zimbabwe
  • Interviews
  • Understanding
  • Videos
  • Travel
  • Weekend
  • About
No Result
View All Result
FurtherAfrica
No Result
View All Result
Home Africa

Tech investors eye Africa’s education and financial sectors

Staff by Staff
January 13, 2021
in Africa, Education, FDI, Finance, Investing, Tech
Reading Time: 2 mins read
828 8
0
Share via QRWhatsappShare on FacebookShare on TwitterLinkedInPinteresteMail

Africa’s education and financial services sectors offer the best opportunities in the post-COVID-19 period, as the pandemic speeds up a shift into digital ways of living and working, two prominent investors said on Tuesday.

“Digital infrastructure businesses at this point in time are probably the ones that investors are most excited about,” Jihan Abass, founder and CEO of Lami, a Kenyan digital insurance platform, told the Reuters Next conference.

Her Nairobi-based firm, which sought to upend the staid insurance world of the East African nation by allowing consumers to buy motor insurance on their mobile phones through instalments, has seen increased demand since the pandemic started, she said.

Iyinoluwa Aboyeji, the general partner of the Nigeria-based Fund for Africa’s Future, an investment vehicle focused on African start-ups, said investment in education technologies will offer attractive returns as the sector bounces back.

“The hardest hit sector in the COVID was education because they were so unprepared for the tsunami,” Aboyeji told the conference, adding that technology solutions to support learning in all institutions is low-hanging fruit.

“They are so under-invested in terms of new technologies to assist them.”

DIGITAL TAX
But the exuberance about the opportunities in tech is being tempered by new regulatory hurdles, as governments look to generate revenue from the fast-growing digital services sector.

Also read: Reforms in Angola arouse interest in Kenya

Kenya, a key player in the sector due to innovations like mobile money platform M-Pesa, which is operated by Safaricom, introduced a new digital services tax this year.

Moves like those will discourage investments in the sector and curb technology’s potential role of encouraging exports of goods and services, which could be a better way for governments to boost their revenue, Aboyeji said.

“If you squeeze off your digital ecosystem with taxes on day one, you are going to end up with nothing because the talent is extremely mobile, they will just leave,” he said.

Governments on the continent should instead be offering incentives for tech start-ups, Abass said, due to their potential to drive up traditional businesses like insurance.

“These (incentives) are things that are still lacking,” she said, “If you look at Africa, only 3% of people have insurance so the regulators need to nurture the industry and help it grow.”

Source: Reuters

Related

Tags: africaEducationfinancial sectorInvestingTechTech investors eye Africa's education and financial sectorsафрикаأفريقياアフリカ非洲
ScanSendShare334Tweet209Share59Pin75Send
Staff

Staff

Related Posts

Culture

Meet 3 Richest African Immigrants in the US Millionaires Club

by See Africa Today
August 13, 2022
Culture

7 Africa’s Longest Serving Presidents

by See Africa Today
August 13, 2022
Economy

Mozambique’s 22% tax cuts among 20 measures for economic acceleration

by The Exchange
August 13, 2022
Tech

NFTs and blockchain crucial in concept of an African Metaverse

by Web3Africa
August 13, 2022
The new currency notes in Ethiopia
Finance

Development Bank of Ethiopia to provide 10 Billion Birr loan for SMEs

by FurtherAfrica
August 12, 2022
Angola Oil & Gas 2022
 
AFSIC 2022
 
Great Limpopo Transfrontier Park
 
MozParks

Translate this page

Read the Latest

Culture

Meet 3 Richest African Immigrants in the US Millionaires Club

by See Africa Today
August 13, 2022
0

The US is always a top choice for immigrants, and it remains unchanged for decades, giving existence to the richest...

Read more

7 Africa’s Longest Serving Presidents

August 13, 2022

Mozambique’s 22% tax cuts among 20 measures for economic acceleration

August 13, 2022

NFTs and blockchain crucial in concept of an African Metaverse

August 13, 2022
The new currency notes in Ethiopia

Development Bank of Ethiopia to provide 10 Billion Birr loan for SMEs

August 12, 2022

FurtherAfrica Partners Network

The Exchange Club of Mozambique Taarifa Rwanda
TechGist Africa Africa Oil & Power Farmers Review Africa
Tanzania Invest Zambia Invest See Africa Today
Africa Global Funds Novafrica CrudeMix Africa
Harambee Africa Botswana unplugged Financial Insights Zambia
Digilogic Africa Web3Africa

Subscribe to FurtherAfrica

Enter your email address to receive new articles on your email.

Join 99,392 other subscribers.

FurtherAfrica

© 2021 FurtherMarkets

FurtherAfrica is a FurtherMarkets Limited platform

  • Countries
  • Interviews
  • Understanding
  • Videos
  • Travel
  • Weekend
  • About

Follow Us

No Result
View All Result
  • Countries
    • Angola
    • Botswana
    • Cape Verde
    • DRC
    • Eswatini
    • Ethiopia
    • Kenya
    • Malawi
    • Mauritius
    • Mozambique
    • Namibia
    • Nigeria
    • Rwanda
    • South Africa
    • Tanzania
    • Uganda
    • Zambia
    • Zimbabwe
  • Interviews
  • Understanding
  • Videos
  • Travel
  • Weekend
  • About

© 2021 FurtherMarkets

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?