Thousands of tech enthusiasts and professionals from around the world converged on the vibrant city of Cape Town, South Africa, for the much-anticipated annual Africa Tech Festival, an event renowned for celebrating technological advancement across the continent.
Now in its remarkable 27th year, this year’s festival achieved unprecedented attendance, surpassing all previous records with over 15,000 attendees, alongside 5,500 exhibitors and 450 distinguished speakers hailing from more than 100 countries, highlighting the global significance of this event.
Taking place at the iconic Cape Town International Convention Center, this immersive three-day tech celebration buzzed with innovation, energy, and palpable excitement. From November 12th to the 14th, global leaders, dynamic entrepreneurs, influential policymakers, and passionate technology aficionados gathered to engage in meaningful discussions about the future trajectory of technology and innovation across Africa.
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 landmark events, including AfricaCom, AfricaTech, and the highly anticipated inaugural AI Summit Cape Town. Each of these segments shone a spotlight on the remarkable growth within the tech sector, illustrating the diverse ways technology is shaping various industries. Engaging panels, informative workshops, and stimulating fireside chats centered around cutting-edge technologies such as Artificial Intelligence (AI) and their transformative effects on sectors like telecom, healthcare, financial services, and government were part of the festival’s extensive agenda. Conversations at the festival addressed critical subjects including connectivity infrastructure, venture capital, and gender equity in the tech landscape.
“Africa Tech Fest is all about making connections,” shared a prominent business exhibitor, emphasizing the festival’s role as a vital hub for fostering relationships among local businesses. For nearly three decades, this festival has been viewed as the quintessential gathering for professionals in tech, telecom, and digital services, offering an unparalleled platform for networking, collaborations, and thriving partnerships.
Hot Topics: Connectivity and Digital Access for the AI Era
Connectivity emerged as a pivotal focus during the festival. Despite the rapid technological advancements being made across the continent, many rural and remote regions still grapple with exorbitant data costs, significantly hindering widespread digital access. For instance, South Africa ranked a concerning 136th out of 148 countries in mobile data affordability as of 2021, 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)
South Africa’s Minister of Communications and Digital Technologies, Solly Malatsi, emphasized the imperative need for collaboration between government and private sectors to enable inclusive ICT (Information and Communication Technology) solutions. He pointed out the direct correlation between the digital divide and economic participation, asserting that a mere 10% increase in broadband access can lead to GDP growth of up to 1.38%. Exhibitors at the festival showcased an array of cutting-edge connectivity solutions. Notably, MBV-T, a Black, female-owned broadband provider, is addressing accessibility issues by offering internet services ranging from $17 to $100 per month in underserved areas. Meanwhile, government-owned Sentech introduced FreeVision, a groundbreaking free streaming platform featuring a rich array of African content accessible to a global audience.
UrbanGeekz’s Gugulethu Nxumalo on the ground reporting at Africa Tech Festival
The festival resonated with a strong call for collaboration among government entities, private operators, NGOs, educational institutions, and technology vendors, all pivotal in preparing Africa for an AI-enabled future. Achieving inclusive ICT requires a unified approach to standardization, nurturing local talent, and advocating for sustainable policies.
Industry stakeholders ranging from equipment manufacturers and cloud service providers to innovative startups and content creators have critical roles in reshaping industries and building agile, efficient, and sustainable ecosystems. Solly Malatsi reiterated the urgency of tackling the digital divide as Africa gears up for an economically flourishing AI-driven landscape.
Addressing The Gender Gap In Venture Capital
With inclusiveness at the heart of the festival’s mission, the panel discussion titled “Empowering Female Founders: Narrowing the Gender Gap in Venture Capital” tackled one of Africa’s pressing funding issues. Despite noteworthy advancements, only 7% of all venture capital funding in 2023 was allocated to female-led startups in Africa. Ayanda Siboto, the partnership lead at ABAN, embodied the panel’s essence, stating, “Diverse teams drive diverse deployment.” This dialogue emphasized that prioritizing inclusivity within Africa’s venture capital ecosystem is paramount to bridging this gender-based funding gap. Such progress can be fostered through expanded networks, effective mentorship, and challenging existing stereotypes.
For many African women, particularly Black female founders, barriers to mentorship and funding networks remain pervasive challenges. With only 13% female representation among venture capital leaders, discussions stressed the necessity of systemic change—moving beyond simply appointing female venture capitalists to nurturing a genuinely inclusive ecosystem and pipeline. As panelists urged, celebrating the achievements of successful women in tech can serve as a catalyst for shifting societal attitudes and inspiring the next generation of female entrepreneurs.
A Platform for Global Players
The Africa Tech Festival serves as a premier gateway for companies aiming to navigate the complexities of African markets. Attendees from around the globe gathered to deepen their understanding of Africa’s unique technological needs, form connections with local innovators, and unearth promising opportunities in one of the fastest-growing tech ecosystems worldwide. As the festival concluded, it became abundantly clear that Africa is poised to take a leading role in shaping the global tech discourse. UrbanGeekz’s Gugulethu Nxumalo provided on-the-ground coverage of the dynamic happenings at the Africa Tech Festival.
UrbanGeekz extensively covered this year’s Africa Tech Festival in our newsletter, ensuring you don’t miss out on our comprehensive recap. For more exclusive updates on similar events, be sure to subscribe. Additionally, you can check out our festival highlights on social media. We’ve shared captivating reels that capture the vibrant atmosphere, dynamic panel discussions, and groundbreaking exhibits that defined this year’s unforgettable festival.
What are the key strategies discussed by Ayanda Siboto to close the gender gap in venture capital for female founders in Africa?
**Interview with Ayanda Siboto: Empowering Female Founders at Africa Tech Festival**
**Interviewer:** Ayanda, thank you for joining us today at the Africa Tech Festival. With over 15,000 attendees and more than 450 speakers, this year’s festival seems to have been a monumental success. What has stood out to you the most during the event?
**Ayanda Siboto:** Thank you for having me! The sense of community and collaboration here is incredibly inspiring. It’s clear that everyone is united in their passion for technology and innovation, but what resonates most with me is the determination to address pressing issues such as the gender gap in venture capital. We need to cultivate an ecosystem that empowers all founders, especially women, to thrive.
**Interviewer:** Speaking of the gender gap, your panel discussion focused on empowering female founders in venture capital. Despite advancements, only 7% of venture capital funding in Africa is allocated to female-led startups. What are some key strategies you discussed to close this gap?
**Ayanda Siboto:** Absolutely. One of the crucial strategies we discussed is the importance of building expansive networks and nurturing mentorship opportunities. Many female founders, particularly Black women, face significant barriers that hinder their access to funding and resources. By creating supportive communities and structured programs that connect aspiring female entrepreneurs with experienced investors and mentors, we can challenge stereotypes and promote inclusive practices that leverage diverse talents.
**Interviewer:** That sounds promising. What role do you think organizations like ABAN can play in this process?
**Ayanda Siboto:** Organizations like ABAN are vital because they serve as a bridge that links startups with investors. We focus on developing training programs to equip female founders with the skills they need to present their ideas effectively. We also aim to diversify the pool of venture capitalists, ensuring that women are represented in decision-making positions within funding organizations.
**Interviewer:** Connectivity was another hot topic at the festival, as many rural areas still face digital access challenges. How do you see this impacting female entrepreneurs specifically?
**Ayanda Siboto:** Connectivity is fundamental to the success of any startup, and it’s even more crucial for female entrepreneurs who may already be at a disadvantage. Without reliable internet access, they struggle to engage with larger markets and access online resources or funding opportunities. Bridging the digital divide is essential not only for individual success but for boosting the broader economy and driving innovation across the continent.
**Interviewer:** as we look forward, what is your vision for the future of female founders in Africa’s tech ecosystem?
**Ayanda Siboto:** My vision is that every female founder in Africa has equal access to funding, mentorship, and resources. We need a system where diverse teams are not just a goal, but the norm. When we empower women and support them, we unlock immense potential—not just for businesses but for entire industries. I’m optimistic that through ongoing dialogue, collaboration, and commitment to inclusivity, we can build a thriving tech landscape that truly reflects our diverse society.
**Interviewer:** Thank you, Ayanda, for sharing your insights and commitment to empowering female founders. The work you and your organization are doing is vital to creating a more equitable tech ecosystem in Africa.
**Ayanda Siboto:** Thank you for having me! Together, we can make a difference.
