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

[Ali Hussein]

Kivuva

You've.jusr explained my 'rant :-)

On Sun, 18 Mar 2018, 12:34 am Mwendwa Kivuva, <Kivuva at transworldafrica.com>
wrote:

> 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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> 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.
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