On 23 June 2023, ProfitShare Partners will be the only South African Fintech participant of just 12 tech ventures from the African continent invited to showcase investment opportunities to investors, corporates and industry experts at the London Stock Exchange.Featuring top innovative ventures from Nigeria, Kenya, Tanzania, South Africa, Egypt, and Zambia seeking to raise between US$1-million to $15-million to further drive tech solutions and offerings across a continent the International Monetary Fund (IMF) noted has “growth prospects will be among the highest in the world”, ProfitShare Partners’ founder and CEO Andrew Maren says the company is excited to be among some of the most innovative tech operations in Africa.
“Africa Tech Summit London showcases the talent and the unique solutions that African entrepreneurs bring to the global tech stage and shows the unique ways problems are solved with technology that not only has African, but global application,” Maren says, adding that the initiative will introduce investors that ProfitShare Partners may otherwise not be exposed to.
“The invitation to feature at the Summit showcases the talent and the unique solutions that African entrepreneurs bring to the global tech stage. It highlights the unique ways problems are solved with technology that not only has African but global application.”
Growth prospects in Africa
According to the IMF, between 2018 and 2023, Africa’s growth prospects are among the highest in the world, and sectors in which foreign companies may have a comparative advantage, such as banking, telecommunications and infrastructure, are among the drivers of current economic growth in Africa, creating clear investment opportunities for overseas businesses.
Says Maren: “By participating in initiatives such as The Africa Tech Summit, we are able to highlight how we are solving problems uniquely in a market that is relatively untapped. Investors in African tech are likely to get better value and better exponential growth as the sector continues to solve real problems and proves it is not a fad or trend.”
The continent’s growing, youthful population – amid an aging population in most other regions – constitutes a formidable market, Maren says; adding that bringing tech solutions and investors together at this stage of the sector’s development provides opportunities for both innovation and return on investments.
“Sharing this by-invitation only platform with tech firms in healthtech, investments, transport automation, micro-lending, skills training and payment solutions puts ProfitShare Partners among some of African Young Lions, a pride of technology innovators who understand the market and can offer investors both business and cultural advantages in the market,” Maren asserts, noting that capital raising for PSP is not just about our company.
“It ensures that we can give more SMEs in my country – and hopefully globally – access to funding they otherwise would not have access to. By helping SMEs, we have already created and sustained thousands of jobs, and I’m excited by the impact we could have by helping the hundreds of thousands of small businesses that need our support. Fintech is a powerful tool to unlock true inclusive growth.”
According to Andrew Fassnidge, Managing Director of Africa Tech Summit, these ventures will connect with potential investors, corporates and gain insights from industry experts at the seventh edition of Africa Tech Summit London on June 23rd at London Stock Exchange, where the Summit looks forward to welcoming 300 delegates, “to drive business and investment forward between Africa and Europe”.