Over the last decade, there has been the emergence of a new wave of entrepreneurs and investors committed to being catalysts of economical and societal progress across Africa.
The second edition of Deep Dive Africa (DDA II) is geared towards startups raising pre-seed and seed round funding. Between 2021 and 2022, DDA II is being delivered across four key markets; Nigeria, Kenya, Ghana and Rwanda. In collaboration with the implementing country partners, local GIZ representatives and the investor committee, 40 top startups have been selected to partake in the program. Currently, 60% of the overall cohort across the four locations are women-led.
Selected startups have started coaching and are in the process of completing their self-drafted investor memos and due diligence checklists for assessment. An inclusive Dealbook that will provide investors with an in-depth glance into the program’s startups, their business models, industries, market traction, vision and ask is a significant part of DDA and will serve as the introductory layer steering potential investor interest towards startups.
Meet some of the outstanding African entrepreneurs addressing challenges in sectors ranging from finance to healthcare to education and keep an eye out for the program’s Dealbook, where the full cohort will be featured.
Electricity and gas supply
- About 80 million Nigerians face daily blackouts. Uwana Energy provides affordable solar energy products to low-income Nigerian microentrepreneurs. How? By partnering with financial institutions so they can avoid the high upfront costs of solar power, save money and improve their lives.
- Globally, 3 billion people use polluting biomass fuels for cooking every day. In addition, 4 million people die annually from inefficient cooking practices, such as the use of wood and charcoal stoves, of which about 64,000 are Nigerians. Hinata Energy aims to provide affordable energy for a healthier cooking environment by offering biofuel-powered cookstoves.
- Half of the adult population in sub-Saharan Africa still lacks access to financial services. The fintech company Kobopay provides a wide range of services using a community-based approach. It works with local businesses in their communities to offer their services offline, thus reaching the last mile. Its aim is to offer financial services to the underserved at low cost and within walking distance of their homes.
- In Nigeria, only 27% of women have a bank account, one of the lowest rates in the world. A female-focused fintech, Shecluded aims to empower finance for all women by providing them with access to loans, learning opportunities and support to scale their businesses.
- African aesthetics have inspired the global fashion industry and cultural icons worldwide. While major brands have widely embraced the black aesthetic, black designers remain voiceless in the retail market and lack access to sales channels and global consumers. Adjoaa is a curated multi-brand online marketplace that offers global consumers a selection of sustainable and accessible Black-Owned premium fashion and lifestyle products.
- Onesha Technologies provides a scalable marketplace for small and medium-sized businesses to affordably hire skilled African freelancers and creatives to develop digital services. It is supported by a secure and trusted escrow infrastructure to handle payments anywhere in Africa.