Hey, Kaluka here,
Last week, a photo from the Africa CEO Forum in Abidjan ignited a firestorm across African tech circles. Shared by Axel Peyriere, CEO of AUTO24.africa, the image showcased a group of founders who had collectively raised over $100 million to "build Africa's future." The absence of Black African faces in the photo led CNN's Larry Madowo to ask an important and pointed question, "Are the Africans in the room with us?" Some people are not comfortable with this question but it has to be asked.
Image by Axel Peyriere (LinkedIn)
The image was intended to celebrate progress, but instead highlighted a big issue regarding the underrepresentation of native Africans in leading roles within the continent's tech ecosystem. This is not the first time the conversation has come up, and it won’t be the last. As Charles Awuzie noted, "Where is the African at the table deciding Africa’s destiny?" Mimi Kalinda echoed this sentiment: "If you're building for us without us, you're building against us."
This topic highlights the important conversation regarding ownership, representation and equity in the African tech ecosystem. There are so many African-founded startups that never rise to some of these levels for one reason or the other. Even though foreign investment and expertise can help drive growth, Africans mustn't be just participants but take part in shaping their own future. As the ecosystem evolves, ensuring that African voices are at the forefront is not just a matter of optics, but it is key for sustainable and inclusive development.
What are your thoughts? Reply and let us know!
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The week at a glance - Startup Funding Rounds
This week has had 6 major funding rounds raising over $52.5 million.
🇪🇬Egyptian mobility startup Sylndr has announced the close of a $15.7 million Series A funding round.
🇪🇬ElGameya, a mobile app that is based on Collaborative Lending and Saving, raised an undisclosed amount.
🇳🇬Seeds & Pennies, a Nigerian financial services startup, raised $1.1 million in debt financing.
🇿🇦South African Startup AURA Raises $15 M in Series B Funding.
🇰🇪Kenya’s ARC Ride Secures $5 Million Investment from BII.
🇪🇬Egypt’s Thndr Raises $15.7M to Expand Investment Platform Across MENA.
Opportunities and jobs
We curated a list of some of the VCs who recently raised money and are looking for startups to fund across Africa. If you have a startup, you may want to read more about that here.
Jasiri Growth Accelerator Opens Applications for Kenyan and Rwandan Startups. Learn more and apply here.
Standard Chartered Launched ‘Women in Cyber’ Programme to Bridge Cybersecurity Talent Gap. Applications for the first cohort, limited to up to 100 mentees, are now open through womenincybersec.strathmore.edu and will close on 30 June 2025.
SEACOM’s Internship and Mentorship Program Bridges Education and Industry.
Appointments
NTT DATA Appointed Asokan Moodley to Lead GenAI and Industry Advisory in MEA.
Kaspersky Appoints Chris Norton to Lead Sub-Saharan Africa Expansion.
Other Stories
Seven Women-Led Startups Among Mastercard Foundation’s 2025 EdTech Fellowship Cohort.
MaxAB-Wasoko Acquires Egypt’s Fatura to Expand B2B Marketplace Footprint.
European DFIs Commit $80M to BluePeak’s Second Africa-Focused Private Credit Fund.
Huawei Hosts Cloud & Connect Summit 2025 in Nairobi.
Uganda Launches Shared Network Model to Deliver Internet-for-All.
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