LIMITED finance for upcoming entrepreneurs in Tanzania and Africa as a whole has been a bottleneck for many startups but this is set to change in the near future,
Dar es Salaam is set to host this year’s edition of Angel Fair Africa, a deal-making event that brings together investors and entrepreneurs to promote new business, investment and share experiences.
This follows an agreement by a Tanzanian company Sahara Ventures, organizers of Sahara Sparks event and Ghanaian firm Chanzo Capital, which is behind Angel Fair Africa, with footprints in a number of Africa countries.
Through the agreement, the two firms have agreed to co-organize a weeklong series of events targeting innovators, entrepreneurs, investors, technologists, policy makers as well as development partners and business institutions.
The Chief Executive Officer (CEO) of Sahara Ventures, Mr Jumanne Mtambalike, who inked the agreement with the Managing Partner of Chanzo Capital, Mr Eric Osiakwan, said the event is a follow-up of last year’s event which was attended by over 700 participants from across the African continent.
It will involve different stakeholders in innovation, technology entrepreneurship and investor ecosystem in addressing challenges and creating opportunities in different sectors in Africa.
“The event will also explore investment opportunities and encourage transactions to finance early stage entrepreneurs with technological solutions that can be opted,” Mr Mtambalike noted.
The event which is slated to take place between October 7 and 12, this year, will run under a theme; “Africa 4.0, Africa in the Fourth Industrial Revolution.”
It seeks to create a platform for different stakeholders to meet and reflect on the role of technology, innovation and entrepreneurship on fostering socio-economic development in Africa.
Last year, Angel Fair Africa organised a similar event to link investors with startup companies and early-stage entrepreneurs, in Mozambique.
According to Mr Osiakwan, since the event started in the year 2013 it has yielded 23 million US dollars worth of investments in technology and tech-enabled ventures in South Africa, Nigeria, Ghana, Kenya, Ivory Coast and Mozambique.
“Angel Fair Africa will bring opportunities for local startup companies and early stage business to access investors from across the globe who will be attending the event,” he stated.
For his part, Mr Mtambalike said Sahara Sparks is one of largest innovation and technology entrepreneurship events in the Africa continent. “We started in Tanzania but we have now added four chapters in Nigeria, Kenya, Uganda and Malawi through a series of events titled city sparks.
“Sahara Sparks is part of Sahara Ventures, a company whose mission is building Africa innovation ecosystem by working with different partners and stakeholders from public and private sectors,” he explained.
Since inception in 2016, Sahara Sparks has been able to reach more than 600 startup companies and attracted 3,000 participants and 180 speakers from across the world.