Faced with record unemployment of 32.8%, the South African government, supported by its partners, has launched a $53 million fund to stimulate technological entrepreneurship within universities. This initiative follows on from the TIMBUKTOO initiative presented at DAVOS, aimed at countering the effects of business relocation and productivity challenges.
In recent years, the European banking sector has gradually reduced its presence in Africa, faced with significant financial losses. The 2010 crisis and the tightening of prudential rules have exacerbated this trend.
In the wake of the COVID-19 crisis, African leaders have realised the importance of digitisation in revitalising their national economies and optimising tax revenue collection. Start-ups in search of growth are turning to investment funds, with a focus on the digital economy and financial inclusion.