In a remarkable display of technological enthusiasm, thousands of attendees from every corner of the globe flocked to Cape Town, South Africa, for the highly anticipated annual Africa Tech Festival, an event that celebrates the rapid evolution of technology across the continent.
Celebrating its 27th year, this year’s festival achieved an unprecedented turnout, welcoming over 15,000 participants, including 5,500 exhibitors and 450 distinguished speakers hailing from more than 100 different countries, cementing its status as the continent’s premier tech event.
Hosted from November 12th to the 14th at the Cape Town International Convention Center, this immersive three-day festival overflowed with innovation, energy, excitement, and vibrancy. Influential global leaders, visionary entrepreneurs, policy shapers, and passionate tech enthusiasts gathered to explore the future landscape of technology and innovation on the African continent.
Speakers at Africa Tech Festival held at Cape Town International Convention Center, 12-14 November 2024 (photo credit: Greg Lumley)
Africa Tech Fest: Africa’s Largest & Most Influential Tech Event
The festival featured five key events, including AfricaCom, AfricaTech, and the inaugural AI Summit Cape Town, which collectively spotlighted the impressive growth within the tech sector across various industries. Engaging panels, interactive workshops, and enlightening fireside chats delved into groundbreaking technologies like Artificial Intelligence (AI) and examined their far-reaching effects on sectors such as telecommunications, healthcare, financial services, and government. Discussions also addressed critical issues surrounding connectivity infrastructure, venture capital dynamics, diversity, and gender equity in the tech space.
“Africa Tech Fest is all about making connections,” remarked one enthusiastic business exhibitor, highlighting the festival’s unique ability to foster networking opportunities among local enterprises. For nearly three decades, this festival has become the go-to event for professionals across the tech, telecom, and digital services sectors, offering an unparalleled platform for collaborations, partnerships, and networking opportunities.
Hot Topics: Connectivity and Digital Access for the AI Era
Connectivity emerged as a vital theme during the festival. While Africa experiences a significant tech boom, many rural and remote areas continue to grapple with exorbitant data costs that hinder digital access. For instance, research conducted in 2021 positioned South Africa at a lowly 136th out of 148 countries in terms of mobile data affordability, according to the Alliance for Affordable Internet.
Africa Tech Festival held at Cape Town International Convention Center, 12-14 November 2024 (photo credit: Greg Lumley)
During the event, South African Minister of Communications and Digital Technologies, Solly Malatsi, underscored the pressing need for cooperative efforts between government entities and private sector players to create inclusive ICT solutions. Highlighting the link between digital accessibility and economic progress, he pointed out that a mere 10% increase in broadband access could significantly elevate GDP by as much as 1.38%. Exhibitors at the festival showcased innovative connectivity solutions, such as MBV-T, a Black, female-owned broadband provider that is working to enhance accessibility by offering affordable internet plans ranging from $17 to $100 per month for underserved communities. Another remarkable initiative presented was FreeVision, a free streaming platform from Sentech that aims to provide globally accessible African content.
UrbanGeekz’s Gugulethu Nxumalo on the ground reporting at Africa Tech Festival
Calls for unity between governments, NGOs, universities, tech vendors, and private operators echoed throughout the event, as stakeholders recognized the critical role of collaboration in readying Africa for an AI-driven future. The development of inclusive ICT infrastructure requires a unified effort to establish standard practices, nurture local talent, and advocate for sustainable policies.
From equipment manufacturers to cloud service providers, startups, and content creators, every stakeholder has a pivotal role in catalyzing industry transformations that foster agile, effective, and environmentally sustainable ecosystems. Minister Solly Malatsi reiterated the importance of addressing the digital divide as Africa readies itself for an AI-enabled economy.
Addressing The Gender Gap In Venture Capital
This festival fostered an environment where inclusivity was at the forefront, as evidenced by the panel discussion titled “Empowering Female Founders: Narrowing the Gender Gap in Venture Capital,” which tackled one of Africa’s most pressing funding challenges. Despite notable progress, only 7% of venture capital funding in 2023 was allocated to female-led startups across the continent. Ayanda Siboto, the partnership lead at ABAN, encapsulated the essence of the session by stating that “Diverse teams drive diverse deployment.” Consequently, the panel underscored the urgent need for Africa’s venture capital ecosystem to champion inclusivity in order to close this alarming gap, recommending expanded networks, focused mentorship, and a push against prevailing stereotypes.
Black female founders particularly confront obstacles when it comes to mentorship and funding networks, with only 13% of venture capital professionals being female leaders. Speakers emphasized the pressing need for systemic change, advocating not only for appointments of female VCs but for a fundamentally inclusive venture capital landscape. They urged for a cultural shift towards celebrating successful women in tech as a means to inspire future generations of female entrepreneurs.
A Platform for Global Players
The Africa Tech Festival serves as a crucial gateway for companies aspiring to enter African markets. Attendees from around the world converged to gain valuable insights into Africa’s unique tech needs, forge connections with local innovators, and explore opportunities within one of the fastest-growing technology ecosystems globally. As the event drew to a close, it became abundantly clear that Africa is poised to play a pivotal role in shaping the global tech narrative. UrbanGeekz’s Gugulethu Nxumalo provided on-the-ground coverage of the Africa Tech Festival’s exceptional proceedings.
UrbanGeekz reported on the highlights from this year’s Africa Tech Festival in our newsletter, so be sure not to miss our comprehensive recap. Subscribe for exclusive updates on events like this, and check our social media for captivating festival highlights. We’ve captured the vibrant atmosphere, dynamic discourse, and groundbreaking exhibits that made this year’s festival one for the books.
### How can increased digital connectivity support the growth of female-led startups?
### Interview with Ayanda Siboto at Africa Tech Festival
**Interviewer:** Thank you for joining us today, Ayanda. You recently participated in a panel at the Africa Tech Festival focused on the gender gap in venture capital. What were some key takeaways from that discussion?
**Ayanda Siboto:** Thank you for having me! One of the primary takeaways was the critical need for a shift in how venture capital is approached in Africa. We emphasized that only 7% of venture capital funding goes to female-led startups, which is alarming. This gap not only stifles innovation but also limits the potential of diverse perspectives that women entrepreneurs bring to the table. We discussed actionable strategies to improve this situation, such as expanding networks for female founders and providing greater access to mentorship opportunities.
**Interviewer:** That sounds significant. How do you think fostering diverse teams can promote a more robust venture capital ecosystem?
**Ayanda Siboto:** Diverse teams are key to driving diverse deployment. When you have a varied set of experiences and backgrounds, you’re more likely to identify innovative solutions and approaches that resonate with a broader audience. It also helps in building products and services that meet the needs of diverse consumer groups. Ultimately, a rich mix of ideas and perspectives can lead to more successful ventures, which is something investors should be keenly aware of.
**Interviewer:** At the festival, there was a strong emphasis on connectivity and digital access. How do you see this influencing the landscape for female entrepreneurs?
**Ayanda Siboto:** Connectivity is essential for female entrepreneurs, particularly in rural and underserved communities. Better access to the internet can open doors for women by providing them with the necessary tools to start and grow their businesses. It enables them to reach wider markets, access educational resources, and connect with potential investors and mentors. The festival highlighted initiatives aimed at bridging the digital divide, which could significantly empower female entrepreneurs in those areas.
**Interviewer:** What role do you think collaborations among various stakeholders—like governments, NGOs, and tech providers—play in addressing these challenges?
**Ayanda Siboto:** Collaboration is absolutely crucial. No single entity can tackle these issues alone. When governments, NGOs, universities, and tech providers unite, they can combine resources, share knowledge, and amplify their impact. For example, government entities can create more supportive policies, NGOs can help facilitate connections, and tech providers can offer the tools that empower entrepreneurs. Together, they can create an ecosystem that supports women in technology and entrepreneurship.
**Interviewer:** As we look towards the future, what exciting trends do you foresee in the tech and venture capital landscape for female entrepreneurs in Africa?
**Ayanda Siboto:** I foresee a growing movement toward gender equity and inclusivity within the venture capital landscape. More investors are becoming aware of the importance of diversifying their portfolios to include female-led companies. Additionally, as more women embrace technology and entrepreneurship, we’ll likely see innovative solutions that address local challenges. This, paired with increasing digital access and supportive networks, creates a promising future for female entrepreneurs across Africa.
**Interviewer:** Thank you, Ayanda, for your insights. It’s clear that continued dialog and action are vital for empowering women in the tech space.
**Ayanda Siboto:** Thank you for having me. I’m excited to see the changes ahead and the roles we all can play in making a difference!
