Norsk 22 bet on the wealth of financial technology in Africa

Technology businesses and startups in Africa have become a major attraction that international investors cannot ignore, according to a partner in a fund focusing on the continent’s investments. “We note some investors who stretch particularly during the first quarter to invest large amounts in Africa businesses,” Laxi Novitsk, the general partner of Norrsken22, an investment fund focusing on Africa with a value of $ 205 million, told Bloomberg. He added: “The reference is that in many of these businesses they notice good numbers compared to those they see in their markets.” These investments are likely to provide some reassurance for the start of Africa -to -enterprises and startups after investment capital flow decreased last year. Where it dropped 31% to $ 4.5 billion in 2023 after investors withdrew from African economies suffering from high inflation rates and poor local currencies, according to a recent report issued by the African Special Capital Association, based in London. “The construction of companies for such good platforms increases the enthusiasm of international investors,” says Novitsk. The return from investors to Africa added: “I think the situation will be more powerful”, expect investors to start returning and investing in more care. “We hope that more investments will be concentrated in the areas where they participate more in corporate operations and have more logical evaluation.” She indicated that “Norskin 22” has invested in six companies so far, including the Tyme Group in South Africa, and has three other investments prepared. She also said she intends to increase this number by the end of 2025 to 20 companies. The fund, created in 2022, is a joint initiative between Hans Ultrling, a partner at North Ventures, and the North Ventures Foundation, and the “North Ventures” Foundation. It also aims to support businesses that offer flexible technology solutions, including programs, web -based and artificial intelligence. Among the two supporters are 30 founding members of the SO calls “Unicorn” businesses, ie the companies whose evaluation has reached before receiving a new investment at least one billion dollars. The fund also has investments in South Africa, Nigeria, Kenya and Egypt. “We focus more on digital payments and virtual banks in the market of the Frankophone countries in West Africa,” Novitsk said. She concluded: “So far, growth has been very low and slow, but we expect the organizational transformation to speed up the pace of digital adoption over the next five years.”