Africa’s tech sector is booming, driven by a young population, rising mobile phone adoption, and growing international interest. These 10 investors are shaping the continent’s tech ecosystem by financing startups, mentoring entrepreneurs, and tackling crucial issues such as infrastructure gaps and regulatory hurdles. They are driving change by combining local knowledge with global networks, ensuring the continuous growth of Africa’s tech ecosystem.
Marlon Nichols : Managing Partner at MaC VC
Marlon Nichols, Managing Partner at MaC Venture Capital, plays a significant role in tech investment in Africa. The firm focuses on early-stage investments in high-growth areas such as fintech, health tech, e-commerce, and information services.
Nichols emphasizes the crucial role of Series A funding in supporting startup growth, especially in Africa, where most deals are under 5 million USD. His strategy is based on a deep understanding of African market issues, particularly financial inclusion, which presents opportunities to develop innovative solutions.
Iyinoluwa Aboyeji : Co-founder of Andela and Future Africa
Iyinoluwa Aboyeji leads Future Africa, a seed fund, to address some of the continent’s most pressing challenges. Aboyeji has emerged as a major player in African tech investment, shaping the future of local startups.
Future Africa focuses on startups operating in fintech, health, and education sectors, prioritizing those with expansion potential beyond local markets. Leveraging his experience, Aboyeji advocates scalable solutions tailored to Africa’s specific needs while attracting international investors.
Omobola Johnson : Partner at TLcom Capital
Omobola Johnson, former Nigerian Minister of Communication Technology, leverages her public and private sector experience to fuel investments in Africa’s tech sector. TLcom Capital supports tech companies with the potential to grow across Africa, with notable investments like Terragon (data analytics) and Twiga Foods (agritech) making waves in their sectors.
Her investments focus on three dynamic sectors: fintech, health tech, and digital infrastructure. FairMoney is a prime example, having raised 57 million USD to create a leading mobile bank and bring financial inclusion to underserved populations in emerging markets.
Maurice Ostro : Chairman of Entrepreneur First
Maurice Ostro leads efforts to fund early-stage African tech startups, particularly in fintech, health tech, and edtech. With active operations in Nigeria and Kenya, Entrepreneur First helps young founders create scalable solutions tailored to Africa’s specific needs.
Under Ostro’s leadership, Entrepreneur First offers more than just funding. The organization provides mentorship, resources, and access to a global network. Entrepreneur First’s portfolio is valued at over 10 billion USD globally, highlighting the effectiveness of this approach. In Africa, the organization has refined its talent investment model to suit local market conditions while maintaining scalability and growth at the forefront.
Samuel Mensah : Founder of KISUA
Samuel Mensah stands out in the African tech investment scene by combining entrepreneurial expertise with a focus on digital retail. As the founder of KISUA, a fashion e-commerce platform, this investor demonstrates a great ability to leverage opportunities in Africa’s growing digital retail sector.
Mensah’s investment strategy targets early-stage startups in e-commerce and digital retail, drawing on his own experience to focus on companies addressing underserved consumer markets.
Yemi Lalude : Managing Partner at TPG Growth
Yemi Lalude plays a major role in shaping Africa’s tech investment landscape. As Managing Partner at TPG Growth, he oversees a portfolio that has invested over 1 billion USD in African companies since 2015. His work involves supporting tech-focused startups addressing the continent’s unique needs.
Lalude focuses on three key sectors: fintech, health tech, and digital commerce. He supports companies leveraging the rise of mobile technology and e-commerce to address urgent challenges in Africa. Under his leadership, TPG Growth’s portfolio supports digital innovation across the region.
Eghosa Oriaikhi Mabhena : CEO of Puma Energy
Eghosa Oriaikhi Mabhena, CEO of Puma Energy, plays a key role in supporting Africa’s tech ecosystem by focusing on energy infrastructure. His efforts center on building essential systems that power technological progress across Africa.
Under his leadership, Puma Energy invests in renewable energy technologies, energy storage solutions, and smart grid systems. These investments are directly tied to advancing the digital transformation of African businesses and communities.
Babajide Sanwo-Olu : Governor of Lagos State
Babajide Sanwo-Olu, Governor of Lagos State, plays a central role in developing Africa’s tech ecosystem. His administration strives to create a conducive environment for innovation, relying on initiatives such as the Lagos State Science and Technology Agency (LASTA) and the Lagos State Employment Trust Fund (LSETF) to provide financial support and training for tech entrepreneurs.
Under his leadership, Lagos has seen major advancements in its tech landscape, including smart city projects, improved internet connectivity, simplified registration processes for startups, and the creation of innovation hubs.
Jason Njoku : Founder of iROKO
Jason Njoku is a major force in developing Africa’s digital entertainment scene. As the founder of iROKO, he pioneered the digital distribution of Nollywood productions while building an impressive investment portfolio in the African tech sector.
Njoku’s investment approach focuses on startups in entertainment, media, and technology sectors leveraging digital platforms to meet African audiences’ needs. He has secured over 30 million USD in funding for iROKO from major investors like Tiger Global and Kinnevik, proving his ability to attract significant capital to African ventures.
Sim Shagaya : Founder of Konga
Sim Shagaya has made a significant impact on Africa’s tech investment scene, focusing on early-stage startups in e-commerce, fintech, and digital services. While leading Konga, the company raised 25 million USD and achieved a valuation of 200 million USD before being acquired by Zinox Group in 2018.
Shagaya focuses on areas such as digital commerce, fintech, and digital infrastructure, aiming to improve access to financial services, cross-border trade, and supply chain processes. His deep understanding of diverse African markets plays a crucial role in crafting his investment strategies.
