May 19, 2020

Top 10 technology startup capitals in Africa

Technology
Top 10
investment
Startups
Leah Netabai
3 min
Top 10 technology startup capitals in Africa

As Africa strives to drive technological innovation and connectivity within the region, we look at the overall top 10 startup capitals for technology in Africa.

10. Accra

Accra is the capital of Ghana on the Atlantic coast of West Africa. The capital currently has 12.2 companies per capita, with 0.17% receiving venture capital funding (VC) funding. Its average funding per company is US$0.64mn. Currently, within the capital it takes 14 days to start a business and eight days to complete the procedures.

Entrepreneurial culture index: 51.1

9. Tunis

Tunis is the capital of Tunisia, a country in North Africa, situated along Lake Tunis which is just inland from the Mediterranean. Currently Tunis has 16.6 companies per capita, with 0.12% receiving VC funding. The capital's average funding per company is US$19.92mn, taking eight days to start a business, and six days to complete the procedures.

Entrepreneurial culture index: 43.3

8. Giza

Giza is an Egyptian city on the west bank of the Nile, not far from Cairo. Giza currently has a total of 3.2 and 0.25% receiving VC funding. The average funding per company is US$3.5mn and takes 12 days to start a business, and six days to complete the procedures. 

Entrepreneurial culture index: 48.8

7. Cairo

Cairo is Egypt’s capital, which is set on the river Nile. The city currently has seven companies per capita and 0.22% receiving VC funding. The total average funding per company is US$3.35mn and takes 12 days to start a business. While the procedures take six days. 

Entrepreneurial culture index: 48.8

6. Lagos

Lagos, Nigeria’s largest city, is situated inland from the Gulf of Guinea across Lagos Lagoon. Currently the city has 9.3 companies per capita, with 0.16% receiving VC funding. Per company. Funding within the city per company totals US$3.96mn and it takes 11 days to start a business. Procedures currently take eight days. 

Entrepreneurial culture index: 57.9

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5. Cape Town

Cape Town, a port city in South Africa's southwest coast, is located on the peninsula beneath the imposing Table Mountain. The city has 27 companies per capita with 0.13% receiving VC funding. The average funding per company is US$1.55mn and takes 40 days to start a business. Procedures currently take seven days. 

Entrepreneurial culture index: 56.4 

4. Johannesburg

Johannesburg, South Africa’s biggest city and capital of the Gauteng province, currently has 37.5 companies per capita, with 0.1% receiving VC funding. The time to start a business in Johannesburg is currently 40 days, with procedures taking seven days. The total funding per company is US$2.43mn.

Entrepreneurial culture index: 56.4

3. Nairobi

Nairobi is Kenya’s capital city. The capital currently has 24.4 companies per capita with 0.21% receiving VC funding. Within the city, the time to start a business is 23 days with procedures taking seven days to complete. Those receiving funding total an average of US$5.88mn per company.

Entrepreneurial culture index: 57.9

2. Plaines Wilhems District

Plaines Wilhems is a district in Mauritius. Within the district it currently takes five days to start a business, with procedures taking four days. The total companies per capita is 14.6, 0.28% of which are receiving an average of US$34.4mn per company in funding. 

Entrepreneurial culture index: 49

1. Port Louis 

Port Louis, the capital city of Mauritius and situated in the Indian Ocean. This final capital has 22.5 companies per capita, 0.2% of which are receiving VC funding, the average funding in the region totals to US$11.2mn. Within the city it takes five days to start a business, with procedures taking four days. 

Entrepreneurial culture index: 49

For more information on business topics in Africa, please take a look at the latest edition of Business Chief Africa.

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Jun 14, 2021

5 minutes with... Janthana Kaenprakhamroy, CEO, Tapoly

Tapoly
Insurance
Leadership
Digital
Kate Birch
3 min
Heading up Europe’s first on-demand insurance platform for the gig economy, Janthana Kaenprakhamroy is winning awards and leading with diversity

Founder and CEO of award-winning insurtech firm Tapoly, Janthana Kaenprakhamroy heads up Europe’s first on-demand insurance platform for the gig economy, winning industry awards, innovating in the digital insurance space, and leading with inclusivity.

Here, Business Chief talks to Janthana about her leadership style and skills. 

What do you do, in a nutshell?

I’m founder and CEO of Tapoly, a digital MGA providing a full stack of commercial lines insurance specifically for SMEs and freelancers, as well as a SaaS solution to connect insurers with their distribution partners. We build bespoke, end-to-end platforms encompassing the whole customer journey, but can also integrate our APIs within existing systems. We were proud to win Insurance Provider of the Year at the British Small Business Awards 2018 and receive silver in the Insurtech category at the Efma & Accenture Innovation in Insurance Awards 2019.

How would you describe your leadership style?

I try to be as inclusive a leader as possible. I’m committed to creating space for everyone to shine. Many of the roles at Tapoly are performed by women and I speak at industry events to encourage more people to get involved in insurance/insurtech. Similarly, I always try to maintain a growth mindset. I think it’s important to retain values to support learning and development, like reliability, working hard and punctuality.

What’s the best leadership advice you’ve received?

Build your network and seek advice. As a leader, you need smart people around you to help you grow your business. It’s not about personally being the best, but being able to find resources and get help where needed.

How do you see leadership changing in a COVID world?

I think the pandemic has proven the importance of inclusive leadership so that everyone feels supported and valued. It’s also shown the importance of being flexible as a leader. We’ve had to remain adaptable to continue delivering high levels of customer service. This flexibility has also been important when supporting employees as everyone has had individual pressures to deal with during this time. Leaders should continue to embed this flexibility within their organisations moving forward.

They say ‘from every crisis comes opportunity’, what opportunities do you see?

The past year has been challenging, but it has also proven the importance of digital transformation in insurance. When working from home was required, it was much harder for insurers to adjust who had not embedded technology within their operating processes because they did not have data stored in the cloud and it caused communication delays with concerned customers at a time when this communication should have been a priority, which ultimately impacts the level of customer satisfaction. This demonstrates the importance of what we are trying to achieve at Tapoly in driving digitalisation in insurance and making communication between insurers and distribution partners seamless. 

What advice would you give to your younger self just starting out in the industry?

Start sooner, don’t be afraid to take (calculated) risks and make sure you raise enough money to get you through the initial seed stage.

 

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