So how does London play a role?
London has an amazing Fintec scene. Last fall at Startup Bootcamp’s fintec demo day, two (out of 10 !) companies were African firms creating financial technology solutions for the African marketplace. So African companies are being incubated, growing and raising capital in London, the world’s financial capital.
Secondly, given the UK’s regulatory framework, crowdfunding has become a huge phenomenon. To that end, sites like Homestrings and Emerging Crowd have sprung up in London. These platforms are specifically designed to raise capital for companies in the frontier markets of Africa. So London is helping fund the next stage of the African technology revolution.
By Ashok Parekh, Director of Investment Services