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

[Phares Kariuki]

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 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
> 
> 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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> 
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