Africa has received both positive and negative commentary, mostly negative as news outlets who unfortunately influence perspective in the west. Africa possesses a vibrant young population that has embraced technology, very learned populace and vast mineral deposits. An average of 4.5% GDP growth in the last 10 years, an expanding middle class, investment in infrastructure and expanding marketplace makes the region a hot prospect.
The question for many in the west is how do you navigate the corruption, dictatorial and inefficient financial sector? Corruption is more outspoken here than in any other place in the world, that's a fact, however, the approach to countering corrupt practices across many countries has been tech-driven. By eliminating face to face engagements in government services a country like Kenya has embraced ecitizen- a tech-based government portal that provides key services to all with scheduled timeframes.
What opportunities are there in Africa-
There are plans to operationalise a continent-wide single market, if fully functional it would be the biggest single market in the world. https://www.weforum.org/agenda/2018/02/how-a-sing….
Africa biggest problem has been lack of capital to offer MSMEs(Medium and Small Enterprises)- with high cost of credit, lack of security for loans and a high unbanked population- simple revision of the credit scoring algorithms will see a high penetration of financial services. Few firms that have ventured into this area have seen triple-digit growth rates. https://www.ifc.org/wps/wcm/connect/2d00da8049586…
In short and maybe as a form of sales pitch- Microcredit offered through Machine learning/AI credit scoring algorithm is a highly untapped market. We can have discussions on this