Impact Hub Accra working with Make-IT in Africa, implemented by Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) on behalf of the German Federal Ministry for Economic Cooperation and Development announced its inaugural Deep Dive Africa Tour for European investors seeking to explore early stage startup investments in Ghana and Nigeria.
In parts of Ghana and Nigeria today, many of the old problems remain (deep poverty, infrastructure challenges etc.), but equally remarkable, is the rise of a new generation of entrepreneurs creating new opportunities and tackling some of the biggest challenges of our times. That said, the Ghanaian and Nigerian startup ecosystems have developed to a point where there’s an increasing need for early stage investor capital. Several companies have proven product-market fit but are not able to raise either a pre-seed or seed round to pursue growth.
On the other hand, European venture capital investors are looking for new deals and are perceiving Africa as an emerging and potentially interesting market to invest in. The goal of Impact Hub Accra working with Make-IT and several partners, is to create local networks in Africa to help access and manage deal flow for European first time investors in Africa. The Deep Dive Africa tour is expected to help these investors better navigate Africa, create a soft landing and try to de-risk their involvement in markets like Ghana & Nigeria as much as possible.
Investors joining the tour will be meeting startups in Accra & Kumasi (Ghana) and Lagos(Nigeria). There will be sessions focused on helping investors understand the legal landscape of making investments in both markets. Investors will also be part of networking events with Ghanaian venture capitalists/angel investors and visit tech hubs to get a feeling for the local innovation scene. With the support of expert local guides, investors will have the chance to hold one-on-one meetings with selected startups. Startups are carefully hand-picked and supported through intense programs with special focus on making the due diligence process easy and seamless for investors. There is also the opportunity to savor the cultural diversity of these two countries and tap into the vibrant party scenes with great Afrobeat vibes and food. The Tour will start November 27th in Accra and end December 4th 2019 in Lagos. The Deep Dive Africa tour though Ghana and Nigeria will be supported by a mix of local and global partners. More information is available on deepdiveafrica.com
About Impact Hub Accra
Impact Hub Accra (IHA) is part of the global Impact Hub Network with a presence in 85 cities, across 5 regions and 15,000+ members. IHA is a collaborative organisation providing growth support services to innovative startup businesses, including; accelerator programs for entrepreneurs, investment, leadership training, networking events, opportunity to design and prototype, and more. The hub is an active nexus where different local and global ecosystem players converge and engage Ghana’s vibrant community of entrepreneurs.
As a service provider in the field of international cooperation for sustainable development and international education work, we are dedicated to shaping a future worth living around the world. GIZGIZ has over 50 years of experience in a wide variety of areas, including economic development and employment promotion, energy and the environment, and peace and security. Our main commissioning party is the German Federal Ministry for Economic Cooperation and Development (BMZ).
Together with our partners in national governments worldwide and cooperation partners from the worlds of business, research and civil society, we works flexibly to deliver effective solutions that offer people better prospects and sustainably improve their living conditions. The registered offices of GIZ are in Bonn and Eschborn. In 2017, we generated a business volume of around 3 billion euros with 20,726 employees, almost 70 per cent of whom are national personnel, working in around 120 countries.
About Make-IT in Africa
The Tech Entrepreneurship Initiative Make-IT in Africa promotes digital innovation for sustainable and inclusive development in Africa. Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) GmbH implements this project on behalf of the German Federal Ministry for Economic Cooperation and Development (BMZ), as part of BMZ’s Digital Africa Initiative. In close collaboration with more than 30 corporate and financing partners, social enterprises, hubs, and networks, ‘Make-IT in Africa’ supports the growth of enabling environments for young entrepreneurs in the digital sector—to facilitate better access to finance, markets and skills.