Africa’s ‘Innovative Spirit’ Attracts Significant Investments this Year

The continent’s burgeoning reputation as a source of programming talent got a major boost last month when Microsoft launched its Africa Development Centre (ADC) — a $100m investment over the next five years. With offices in Kenya and Nigeria, Microsoft hopes to train 100 full-time engineers by the end of this year and a further 500 engineers by the end of 2023. The multinational believes in Africa’s “innovative spirit”, especially in fintech, agritech and off-grid energy. Microsoft’s investment comes after programming company Andela announced earlier this year it had secured an additional $100m in investment, including from Facebook’s first couple, Mark Zuckerberg and his wife, Priscilla Chan, through the Chan Zuckerberg Initiative. This brings its total venture funding to $180m. Microsoft is aware that locally relevant apps and services are the correct way in which to approach markets in different parts of the world. “You can’t just build it and hope they will come, as they say in [the movie] Field of Dreams,” says Fortin. “All of these have to be relevant for the local market and globally. We come here expecting to learn.”SOURCE: BUSINESS DAY LIVE

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