Africa’s rising prominence in driving digital transformation took centre stage at the inaugural GITEX Africa 2023, which is being held in Marrakech, Morocco.
With 45,000 square meters of exhibition space and thousands of attendees, GITEX Africa brought together tech leaders from across the continent and the world to collaborate and explore investment opportunities. It celebrated the collective achievements and future ambitions of Africa’s entrepreneurial innovation economy.
Africa’s Silicon Valley
During the GITEX Africa Digital Summit, Babajide Sanwo-olu, Executive Governor of Lagos State in Nigeria, highlighted Africa’s potential to become the next Silicon Valley. He emphasised the importance of investing in African youth, who make up over 60 percent of the continent’s population.
Sanwo-olu mentioned that around 30 percent of investment in Africa is dedicated to the digital economy. Lagos, with its Start-Up Act 2022 and the Knowledge, Innovation, Technology, and Entrepreneurship (KITE) Project, is positioning itself as a global innovation hub.
“In ten years, Africa will become the place where major global companies such as Microsoft and Meta, will come to recruit intelligent profiles trained in the technical fields in which Africa abounds.”
GITEX Africa featured 900 exhibiting companies and start-ups eager to forge valuable connections and explore opportunities in the rising digital economy. TalentQL, one of the Nigerian start-ups present at the event, aims to bridge the gap between the demand and supply for tech talent in Africa. They provide companies with access to a diverse pool of engineering talent and help streamline the hiring process. TalentQL’s participation in GITEX Africa was driven by a desire to learn from other innovators and foster collaboration to enhance Africa’s tech landscape.
Fintech sector promotes financial inclusion
The fintech sector in Africa is flourishing, with projected revenues of US$65 billion by 2030. This growth presents an opportunity for the continent to bypass outdated stages of technological development and leapfrog to more advanced solutions. The Fintech Summit at GITEX Africa discussed these advancements and aimed to position Africa as a key global player in technological innovation. Various speakers, including Aalya Ghouli from BNP Paribas and Khalid Elgibaly from Mastercard, highlighted the transformative power of fintech and its role in promoting financial inclusion.
Khalid Elgibaly, President of the Middle East and North Africa Division at Mastercard, said, “Fintechs, with their disruptive and inclusive nature, have emerged as powerful enablers of financial services for previously underserved populations, overcoming traditional barriers such as limited access to banking infrastructure.
“By promoting collaboration and knowledge sharing among stakeholders, GITEX Africa unlocks new opportunities and drives the digital transformation necessary to address the continent’s unique challenges while unlocking its vast potential.”
Supernova Challenge: African start-ups take centre stage
Another highlight of GITEX Africa was the Supernova Challenge, a start-up pitch competition offering US$100,000 in cash prizes. Seventy disruptive start-ups from 31 countries competed in live pitches, vying to become the next African unicorn. The event attracted a prestigious panel of global VCs, angel investors, and accelerators, creating a platform for start-ups to showcase their innovative ideas and secure funding.
GITEX Africa is held under the High Patronage of His Majesty King Mohammed VI and organized by the Digital Development Agency (ADD) under the Moroccan Ministry of Digital Transition and Administration Reform. The event is organized by KAOUN International, the overseas events organizing company of Dubai World Trade Centre, known for organizing GITEX Global, the world’s largest tech and start-up show in Dubai.
GITEX Africa signifies Africa’s growing prominence in the digital landscape. It serves as a catalyst for collaboration, innovation, and investment, propelling the continent toward a future of technological excellence and economic growth.
