Boom in Egypt innovation ecosystem

By the end of May 2022, total funds raised by African start-ups amounted to $2.7 billion. From January to May, funds raised by Egyptian start-ups increased by 212% compared to the same period last year.

With $81 million raised as of May 2022, the value of investments raised by Egyptian start-ups is the highest in the MENA region, comprising North Africa and the Middle East. 

In addition to the government’s commitment to establishing a favourable business climate, this growth is partly due to the presence of a strong and diversified entrepreneurial support infrastructure. 

To discuss this, Business Africa welcomes Tamer Azer, partner at Shorooq Partners, entrepreneur and company founder.

Cameroon

The deep water port of Kribi wants to develop its pole of attraction. Four years after the launch of its activities, it ranks among the most important contributors in terms of customs profits to the coffers of the Cameroonian state. 

With this in mind, a new platform has been launched. The objective is to place Kribi at the heart of the movement of goods in the Gulf of Guinea.

Uganda

Lake Victoria fishermen are being driven out of business by soaring fuel prices, while more than 5 million people across the country depend on the sector for their livelihood. Prices at the pump were 47% higher in May than in June last year, leading many fishermen to suspend their activities.

Source: africanews