Over 15,000 attendees were welcomed to the 27th annual Africa Tech Festival (www.AfricaTechFestival.com) by South African Minister of Communications and Digital Technologies, Hon. Solly Malatsi. The Department is an official partner of this year’s event, which features more than 300 exhibitors and 400 speakers representing all facets of the tech ecosystem.
Emphasising a shared vision of a digitally connected, inclusive, and prosperous Africa, leveraging technology to drive economic and social progress, the Minister reaffirmed host country South Africa’s commitment to bridging the digital divide through policy, partnerships, and investments in universal connectivity and affordability. “While technology holds enormous promise, it is essential that we harness this potential in a way that can benefit all the people on the continent and the rest of the world. South Africa is honoured to play its role on this journey, both as a leader and a partner to our fellow African countries,” he said.
Organised by Informa Tech (https://www.InformaTech.com), the Africa Tech Festival’s anchor events –AfricaCom, AfricaTech, and AfricaIgnite – along with the AI Summit Cape Town, provided delegates with the opportunity to explore enterprise tech innovation and disruption across key sectors such as cybersecurity, cloud, data centres, and green ICT.
Highlights of the first two days of the event, which ran from 12 to 14 November at the Cape Town International Convention Centre, included:
AI Summit Cape Town
Hon. Mondli Gungubele, Deputy Minister of Communications and Digital Technologies, opened the inaugural AI Summit Cape Town. Along with introducing the newly-formed AI Institute of South Africa, he called for collaboration among government, industry, academia, and civil society to maximise AI’s benefits while addressing challenges like job displacement and ethical considerations, saying, “Let’s seize this opportunity to shape a future where AI helps us uplift our citizens, drive economic growth, transform our society for the better and leave no one behind.”
The AI Summit features the biggest names and brightest minds in AI, all exploring how this transformative technology can create a brighter future for Africa. For instance, the panel session Navigating AI Policy Challenges: Collaborative Approaches to Strengthen Governance in Africa focused on fostering global cooperation in AI governance, emphasising cross-border collaboration, universal safety standards, and ethical innovation. The discussion also highlighted the role of public-private partnerships in implementing equitable AI policies.
AfricaIgnite
While technology holds enormous promise, it is essential that we harness this potential in a way that can benefit all the people on the continent and the rest of the world
AfricaIgnite is the flagship event for founders, investors, and key players in the tech ecosystem. It supports market access and investment opportunities.
The panel Overcoming the Funding Winter: Strategies for Early-Stage Start-Ups highlighted resilience in the early-stage start-up ecosystem, exploring strategies employed by successful start-ups to attract investors and secure funding in a competitive market. It also examined the role of accelerators and incubators in fostering growth and supporting the development of African tech start-ups.
A dynamic fireside chat on The Rise of Debt Financing as an Alternative Funding Model explored the growing appeal of debt financing for late-stage start-ups, delving into the key drivers behind this trend. The benefits of debt financing and insights into the strategic considerations start-ups should evaluate when transitioning to this alternative funding model were also discussed.
Another high-level panel, titled The Search for Liquidity: Navigating African Startup Exits, explored the growing dominance of mergers and acquisitions (M&A) as the main exit strategy for African start-ups, especially in fintech, with IPOs remaining scarce. It also examined the factors driving this trend and its impact on the African startup ecosystem.
AfricaCom
AfricaCom brings together Africa-focused connectivity leaders and the brightest minds in the telecoms space. Within the Connectivity & Digital Infrastructure stream, an insightful panel discussion on Connecting Africa’s Next Billion: Scaling Africa’s Digital Infrastructure explored the economic and social benefits and challenges of expanding internet connectivity. Industry experts and stakeholders discussed the critical role of governments, telcos, and tech innovators in building sustainable infrastructure to expand internet access, particularly in remote and underserved areas, to advance digital inclusion across the continent.
In the Telcos of Tomorrow stream, panellists explored AI’s transformative potential in the telecoms sector in a session titled Integrated AI: Telco Blueprints for Business Model and Service Delivery Transformation. Emphasising how AI optimises complex organisational systems, the panel discussed the challenges of implementing these systems.
AfricaTech
Driving funding for female-led start-ups was the theme of the Empowering Female Founders: Narrowing the Gender Gap in Venture Capital panel discussion, which addressed the persistent challenge of gender disparity in African venture capital. Networks, mentorship, technical support, celebrating successful female founders as role models, and challenging stereotypes were some of the topics.
“2024 is a standout year for Africa Tech Festival, being the largest event in almost three decades. We have more attendees and exhibitors, more features, more content, and more opportunities to position Africa as a tech powerhouse. The opening days have been overwhelmingly positive, with delegates engaging, networking, and sharing insights that have the potential to reshape Africa’s tech ecosystem. We are seeing innovative solutions to the continent’s tech challenges and a commitment to contribute positively to growing Africa’s economic potential. I’m confident that this will continue not only for the remainder of the event but into the future as well,” concluded James Williams, Event Director of Africa Tech Festival.
