Africa Tech Festival 2024 showcases innovation across Africa’s technology ecosystem

Over 15,000 attendees were welcomed to the 27th annual Africa Tech Festival by South African Minister of Communications and Digital Technologies, Hon. Solly Malatsi. The Department is an official partner of this year’s event, which features more than 300 exhibitors and 400 speakers representing all facets of the tech ecosystem.

Emphasizing a shared vision of a digitally connected, inclusive, and prosperous Africa, leveraging technology to drive economic and social progress, the Minister reaffirmed host country South Africa’s commitment to bridging the digital divide through policy, partnerships, and investments in universal connectivity and affordability. “While technology holds enormous promise, it is essential that we harness this potential in a way that can benefit all the people on the continent and the rest of the world. South Africa is honored to play its role on this journey, both as a leader and a partner to our fellow African countries,” he said.

Organized by Informa Tech, the Africa Tech Festival’s anchor events –AfricaCom, AfricaTech, and AfricaIgnite – along with the AI Summit Cape Town, provided delegates with the opportunity to explore enterprise tech innovation and disruption across key sectors such as cybersecurity, cloud, data centers, and green ICT.

Highlights of the first two days of the event, which ran from 12 to 14 November at the Cape Town International Convention Centre, included:

AI Summit Cape Town

Hon. Mondli Gungubele, Deputy Minister of Communications and Digital Technologies, opened the inaugural AI Summit in Cape Town. Along with introducing the newly-formed AI Institute of South Africa, he called for collaboration among government, industry, academia, and civil society to maximize AI’s benefits while addressing challenges like job displacement and ethical considerations, saying, “Let’s seize this opportunity to shape a future where AI helps us uplift our citizens, drive economic growth, transform our society for the better and leave no one behind.”

The AI Summit features the biggest names and brightest minds in AI, all exploring how this transformative technology can create a brighter future for Africa. For instance, the panel session Navigating AI Policy Challenges: Collaborative Approaches to Strengthen Governance in Africa focused on fostering global cooperation in AI governance, emphasizing cross-border collaboration, universal safety standards, and ethical innovation. The discussion also highlighted the role of public-private partnerships in implementing equitable AI policies.

AfricaIgnite highlighted key strategies and trends shaping Africa’s tech start-up ecosystem, focusing on funding and growth opportunities. Panels such as Overcoming the Funding Winter explored how early-stage start-ups can attract investors amidst challenges, emphasizing the role of accelerators and incubators in fostering resilience.

A fireside chat on The Rise of Debt Financing as an Alternative Funding Model showcased the growing appeal of debt financing for late-stage start-ups, discussing its benefits and strategic considerations. Additionally, The Search for Liquidity: Navigating African Startup Exits examined the dominance of mergers and acquisitions (M&A) as exit strategies, particularly in fintech, due to the scarcity of IPOs in Africa.

AfricaCom and AfricaTech focused on advancing digital connectivity and inclusivity across the continent. At AfricaCom, Connecting Africa’s Next Billion addressed the critical need for scalable digital infrastructure, highlighting the role of governments, telcos, and innovators in bridging the digital divide. Another panel explored AI’s transformative potential in telecoms, showcasing its ability to revolutionize business models and service delivery.

 AfricaTech’s Empowering Female Founders panel tackled the gender gap in venture capital, discussing how mentorship, role models, and networks can support female-led start-ups and foster a more inclusive entrepreneurial ecosystem. Together, these discussions underscored the importance of collaboration and innovation in driving Africa’s digital and tech growth.

James Williams, Africa Tech Festival’s Event Director, praised 2024 as a significant year for the event, its largest in nearly three decades. With more attendees, exhibitors, and opportunities, the festival aims to position Africa as a tech powerhouse. The opening days were positive, with delegates networking and sharing insights to reshape Africa’s tech ecosystem.