London (United Kingdom), May 2018.
Earlier this month, GreenTec’s founding partners, Thomas Festerling and Erick Yong attended the Africa Tech Summit London, at the Grange St. Paul Hotel. The Africa Tech Summit is a series of events planned for London in 2018 and Kigali, Rwanda in 2019.
This was the third annual series of Africa Tech Summits, which are intended to provide unrivalled insight, networking and business opportunities for African and international tech leaders and investors who want to drive growth in Africa. The London events were added to the series in 2016, to open up the growth of the African tech ecosystem to a global audience.
The event brought together more than 250 key stakeholders in the African tech ecosystem, including policy makers, leading investors, leading tech companies and vendors, International Trade Bodies, and of course African start-ups and scale-ups. The event was opened by a welcome address by Neandra Salvaterra of the Wall Street Journal, as well as, keynotes by Herman Singh of MTN and Edward George of Ecobank.
The event provided Thomas and Erick the opportunity to make connections and deepen relations with the inner circle of the investor community and technology stakeholders including: corporates, start-ups, private sector investors and DFI’s. Thomas and Erick were able to present GreenTec’s innovative fund concept to several potential investors including DFI’s and market investors, who provided valuable feedback. The responses received were very supportive and further reinforced the thesis behind our investment model, which combines transformational company building with access to finance and directly addresses the still existing finance gap. From many of the podium discussions at the event, we repeatedly heard that investors view execution risk as one of the most relevant for investments in Africa. This provides further support of our model, because the key of our investment approach is to mitigate execution risks by being operationally active with our investees. GreenTec is also pleased to see larger cash flows going into the African tech ecosystem as well as the entry of more players and interested parties into the market. Thus, with receiving positive feedback and support for our model, and an invitation to the next summit in Kigali in February 2019, we look forward to seeing the African tech ecosystem develop and supporting more start-ups with our “results4equity” model.