[kictanet] The Elephant in Africa's startup Ecosystem's living room

[Mwendwa Kivuva]

Ali, I don't understand your rant because you are agreeing with the writer
100%, that
1. Money is tribal
2. That local investors need to start investing in the Silicon Savannah.

What he has failed to quantify is the investments that is done by local
families, friends, and fools to keep local start-ups afloat. It might not
be considerable, but that is all they have.

My view would be for the tech scene to encourage, and show value
proposition to contrarian investors on why they need to invest locally. My
take is conservative investors will still continue investing how they know
best, and where their funds are deemed safe. The Oracle of Omaha will
continue investigate in Coca-Cola, Apple, IBM, Heinz, Wells Fargo, among
other proven ventures, and will jump into the next big thing only after the
word "next" has moved on to the next big thing

On Mar 17, 2018 4:08 PM, "Ali Hussein via kictanet" <
kictanet at 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 at 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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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.

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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
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