The region has become self-sufficient and totally confident in its economic potential.
The average GDP growth for all the economies of the world combined is 3.76 percent, numbers that seem perfectly normal on any report. Countries that grow at that rate have prosperous markets and thriving tech sectors. But if we talk specifically about each region of the globe, East Africa becomes the extraordinary case, growing at a 5.2 to 8.5 percent rate just in this year, eye-opening.
The decisive factor are the economic reforms, the improvement of business relationships around commodities and its strong culture of exportation.
Kenyan private equity firm Catalyst Principal knows this, that is why they have raised $155 million USD in a second round of funding that looks for the next big thing in several areas of the East African network. Those companies and startups that tend to satisfy aspirational customers in such innovative ways, while experiencing strong growth projection and profitability, qualify for Catalyst’s emerging markets initiative.
These are the countries that will benefit the most:
- Republic of Congo
“East Africa not only presents an attractive investment opportunity, but that private equity offers a credible and innovative funding solution for ambitious companies and aspirational entrepreneurs seeking tailored risk capital to support growth and improve performance.” Said Catalyst’s CEO Paul Kavuma to the press.
Founded in 2009, Catalyst business model comes to fruition thanks to Mr. Kavuma’s involvement in East African economic sectors such as: health, technology, finance, engineering consumer goods, and more; becoming one of the largest private firms in the region.
With the recent opening of a new facility by startup accelerator iHub in Nairobi, Kenya has embraced the abrasive benefits of technological integration and harmonization, preparing the terrain for countless innovators that want to take part in this fintech revolution we are witnessing throughout the whole continent.