Wild Fusion, a digital marketing firm in Nigeria, is currently a Google Adwords partner valued at $20-million, with revenues doubling year-on-year, but in the first 8 months of it’s development, the founder, Abasiama Idaresit, “didn’t make a dime.” It was finally a baby products retailer that gave him the initial $250 contract that started this successful African startup. The number of tech startups specifically in Africa is growing, as more people start to use the internet. Economic gains from the rising usage of internet across Africa are said be to strong, and expert say the new technology could help end the reliance on raw materials and help infrastructure inadequacies. I would agree that investors should start to look towards Africa for new businesses, especially in the tech sector, since innovative internet startups are likely to be the future of business. The obvious problem is the lack of available funding for tech startups in Africa, due to the high level of risk. I believe that investing in African tech startups is a risk worth taking because they not only offer new insights, innovation, and value to shareholders, but also help build infrastructure. Companies like Wild Fusion are the future of African business.

Picture: http://www.ventures-africa.com/tag/wild-fusion/

http://www.theglobeandmail.com/report-on-business/international-business/african-and-mideast-business/african-tech-startups-held-back-by-lower-internet-penetration-scarcity-of-early-stage-capital/article15424220/