Why We’re Still Chasing ‘Silicon Savannah’ Dream

Software developers in Kenya are losing lucrative opportunities for funding because they lack clear business plans and strategies to take their ideas to market, new data shows.

This comes despite growing hype that Kenya is set to be the Silicon Savannah of Africa given the significant buzz around the country’s tech industry.

The results of a private equity confidence survey, however, indicate that Kenya’s tech industry could be losing ground to long-term rivals Nigeria and South Africa in terms of getting deals and early-stage start-up capital.

The trend

“Kenya’s technology industry is not performing as well as many would have expected,” said Ms Andrea Bohnstedt, the director of private equity consulting firm Africa Assets.