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The Southern Africa Tech Scene in 2023: Hits, Misses, and What's Next

The Southern Africa Tech Scene in 2023: Hits, Misses, and What's Next

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#startup
🌟 Dive into 2023's Southern Africa tech journey! Uncover the triumphs of fund launches, startups addressing critical issues, and ecosystem explorations.

🚀 Launch of Funds: In 2023, Southern Africa witnessed the rise of tech innovation with the launch of funds like Convergence Partners Digital Infrastructure Fund, Sasol greentech startups fund, SA SME Fund, and Knife Capital’s $50 million Series A fund, empowering startups like Planet42 and Naked Insurance.


🌍 Startups Tackling Challenges: TechCabal highlighted startups addressing pressing issues in the region, from healthcare and Whatsapp chatbots to combating cybercrime. Notable fundings include Planet42’s $100 million Series A, showcasing the resilience of Southern African startups.


🔍 Ecosystem Explorations: Beyond South Africa, TechCabal explored emerging ecosystems like Zambia, Madagascar, and Namibia. The coverage delved into activities shaping socio-economic progress, including South Africa's data center dominance and Zambia’s debt restructuring.


💡 Insights from Investors: Conversations with investors like Keet van Zyl, Andile Ngcaba, and Brenton Naicker provided insights into the region's innovation landscape, shedding light on bets made on Southern Africa's potential.


🚨 Layoffs and Closures: Economic challenges led to setbacks, with companies like Luno and Naspers experiencing layoffs. Cybersecurity threats surged, affecting major brands in South Africa, while scams in Botswana and security breaches in Lesotho posed significant challenges.


📉 Shoddy Corporate Governance: TechCabal covered governance issues affecting larger tech companies, including MultiChoice's struggles, the MTN-Telkom-Rain love triangle drama, and regulatory hurdles faced by Starlink in Zimbabwe and South Africa.


📆 What's Next in 2024: As 2023 fades away, TechCabal promises continued coverage in 2024, monitoring factors like Zambia's currency challenges, online scams in Botswana, South Africa's VC destination status, Namibia's ecosystem progress, and Zimbabwe's startup scene growth.


#TechInAfrica #SouthernAfricaTech #2023Review #2024Outlook


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