The African continent is growing with startups and innovation

9.01.2024 16:06:17

Start-ups and innovation are all over Africa. As the world's second largest continent looks to the future, countries in the region have their sights set on economic prosperity. In this episode of The Exchange, we focus on innovation in Africa. Ethiopia has become one of the fastest growing economies in Africa and the world over the last decade. Muferihat Kamil Ahmed, Ethiopia's Minister of Labor and Skills, explains how the government is encouraging innovation to help other African economies. Nigeria-based digital start-up Trade Depot raised over $100 million in funding in 2021 and became one of the success stories on the continent. Founder and CEO Onyekachi Izukanne explains why inventory and logistics technology is so important for African retailers: "In Africa, most of these retail sales are not made in large supermarkets. They are made in small neighborhood stores. Our job is to create an e-commerce experience for these retailers."