Investors update: Huawei angles for Kenya’s multimillion-dollar data center market

Huawei angles for Kenya’s multimillion-dollar data center market

Highlights

• Huawei Technologies is angling for a slice of the estimated Kshs 17 billion ($130 million) cloud computing industry in Kenya with a new solution known as the Intelligent Cloud Network.
• ICN is designed to address key challenges facing organizations going through digitalization, tackling problems associated with multiple data centers built over a period of time that use different architectures, on separate clouds.
• With this solution, Huawei has become the first in the industry to roll out autonomous driving for data center networks, slashing operating expenses by up to an estimated 30%. 

Source: ABC

Our Takeaway

Africa’s cloud computing and data center market is undeniably untapped. The continent still grapples with the lack of continent-wide digital infrastructure crucial for a digitally included region. Operators are pouring significant investments into the space to bridge this gap while tapping into the market revenue potential. The Africa data center market was valued at $2 billion in 2020 and is expected to grow to $4-5 billion by 2026, at a CAGR of 15%.

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Amazon launches new fintech accelerator in Africa

Highlights

• Amazon Web Services (AWS), the cloud computing division of the global e-commerce giant, Amazon, has launched a business accelerator for financial technology companies in Africa. 
• The accelerator is an equity-free program designed to work directly with CEOs and CTOs, enabling them with resources including strategy, tech team management, product development, and helping founders prepare for navigating the complexities of fundraising.
• Hosted by AWS’ Startup Loft Accelerator, the program will focus on fintech and fintech-adjacent startups operating in Africa.

Source: Zawya

Our Takeaway

The new program is a sign of Amazon’s growing ambitions on the continent and the direction of this ambition. African fintech companies receive the most venture capital funding compared to other technology categories. In 2022, fintech startups in Africa raised over $2 billion in venture funding out of over $5 billion invested in African startups. AWS is now inviting early-stage fintech companies to apply to join the inaugural edition of the AWS FinTech Africa Accelerator. Applications end on the 27th of April.

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Kenya’s TIBU Health raises pre-Series A funding for growth

Highlights

• Kenyan startup TIBU Health has raised an undisclosed amount of pre-Series A funding to allow it to strengthen its solutions. 
• Founded in 2018, TIBU Health is an omnichannel tech company that delivers health services where people live, work and click. The company leverages technologies to provide patients with a convenient and coordinated end-to-end healthcare experience.
• Its pre-Series A funding round was led by Health54, the healthcare-focused corporate VC arm of CFAO Group, and will be used to strengthen its solutions dedicated to chronic diseases and improve its virtual care platform.

Source: Disrupt Africa

Our Takeaway

The healthtech industry in Africa is experiencing significant growth due to the increasing demand for quality healthcare and the adoption of digital technology. Per available estimates, the market is projected to reach $540 million by 2025, with the highest growth expected in telemedicine and healthcare supply chain solutions. This presents a significant opportunity for venture capitalists to invest in innovative solutions that can make a meaningful impact on the continent’s healthcare sector and they’re taking notice, with millions in venture dollars increasingly being poured into African healthtech startups.