GreenTec Capital CEO Erick Yong featured on Voice of America’s “Our Voices” program

VOA OurVoices Screencap

Frankfurt (Germany), March 2021.We are very happy to share that GreenTec Capital CEO and Co-Founder, Erick Yong, was recently interviewed on VOA (Voice of America) Africa’s Our Voices program by Tatenda Gumbo.  The program’s theme was Africa’s Surging Mobile Money Market, and Ms. Gumbo began by stating “Africa is the largest market for mobile money” and proceeded to report on the recent acquisition of Nigeria’s Paystack for $200 M by US payments app Stripe.

Erick Yong on VOA
GreenTec Capital CEO Erick Yong speaking on VOA’s ‘Our Voices’

The program featured Erick responding to a question on the significance of the Paystack deal for the African start-up ecosystem. “I think it is a confirmation that you can actually have an African founder offering solutions that can be scaled and become attractive to large US players,” said Mr. Yong, adding, “It is confirmation of the quality of the founder and the technology.”

Speaking of the African startup ecosystem in particular Erick stated. “The founders community was very proud and very excited about what it means. Specifically, it opens doors for other actors in the US to come and start engaging with African companies. Hopefully, we will have other exits happening.”  Mr. Yong suggested Paystack deal might have a ripple effect.  “….it will have an impact on the companies next to it. It will grow and create opportunities for others. It is also very inspirational for other companies.

Tatenda Gumbo of Voice of America
VOA Our Voices host Tatenda Gumbo

Ms. Gumbo also asked Mr. Yong about the impact of COVID19 on the African entrepreneurial ecosystem.  “I think the pandemic has brought a consensus from governments.  The pandemic has shown that technology can support large infrastructure, and can be used in education, finance, and by governments for other purposes,” said Mr. Yong who added, “I think the pandemic has accelerated the digitalization on the continent.”

Ms. Gumbo asked about the future of Africa in regard to mobile money and other technology advancements.  Mr. Yong responded, “There is actually in Africa a transition where more and more new leaders are coming who understand technology and are more open to it.”  He then spoke of his own firm. “We (at GreenTec) are concerned about capacity to scale for companies in Africa. We know in most cases that it comes from digitalization. This is an area where we have more and more investment.”

Ms. Gumbo ended the interview by asking Mr. Yong if there are any “home grown” African companies that viewers should be watching. He spoke of Flutterwave, “Africa’s first real unicorn,” and mentioned Gene54 which “…shows the quality and competence that exists on the continent.” The episode also included additional segments on women’s voices in Africa, Mobile Money usage during the pandemic, as well as Mobile Money expansion into Somalia and others. We are very pleased to be able to contribute to positive reporting on the opportunities in the African start-up ecosystem. You can view the Our Voices episode below on our page, or here on YouTube.

 

Other Posts

PricePally raises six-figure pre-seed funding from VCs and Angels

Frankfurt (Germany) and Lagos (Nigeria), April 2021. GreenTec Capital is very pleased to share that PricePally has recently raised six-figure funding from Samurai Incubate, Launch Africa Ventures, and Angel Investors. The investment comes as the Lagos-based group-buying platform demonstrated strong early growth. PricePally, founded in 2019, developed its PricePally web and mobile application to help…

read more

Boreal Light featured on BBC Africa for World Water Day 2021

Berling (Germany), March 2021. Monday, March 22nd was International Water Day, and Boreal Light GmbH’s CEO and Co-Founder, Dr. Hamed Beheshti, participated in an interview on BBC-Africa Facebook Live addressing Impact of COVID19 on the Lives and Livelyhoods across the Continent. The show’s host, Ms. Maya Hayakawa, interviewed Dr. Beheshti and Ms. Hermien Oberholzer, the Principal…

read more

Powerstove included in SET100 list of start-ups in the Start-up Energy Transition

Frankfurt and Berlin (Germany), March 2021. GreenTec is very happy to report that Powerstove has been included in the SET100 list of the best start-up in the Start-up Energy Transition Awards for 2021. Powerstove was selected from a pool of 543 applicants from 89 countries competing in the Start-up Energy Transition Awards. The SET100 is…

read more