Wednesday, 11 July 2012

Raising Venture Capital (VC) in Africa

By: Joram Sengendo and Dan Mosanu (Summer Analysts)
'There is a big gap between the people that are looking for venture capital and the people that have venture capital.' - Joe Collins 
Many of the already functioning businesses in Africa need to be taken to the next level in order to be attractive to venture capital’ - Jade Smith

Very rarely does a group of seasoned investors and entrepreneurs, all burning with the same passion for Africa share a stage to convey their unique and insightful experiences of Venture Capital investment into the continent.

On 9 July 2012, at the Eight Club in the City of London, the teams at Amoo Venture Capital Advisory and Professionals for Africa were delighted to host a group of expert panelists and over 40 delegates for the event titled, "Venture Capital: Raising Finance for Small and Medium-sized Enterprises (SMEs) in Africa". Both panels were filmed for posterity by The Knowledge Channel. They can be accessed via the links below:

The event kicked off with the investor panel, chaired by Michelle Kathryn Essomé of the African Venture Capital Association (AVCA). Her panel colleagues: John Butt of Conduit Ventures, Simon Merchant of Jacana and Mark Florman CEO of the British Private Equity and Venture Capital Association (BVCA), joined her as they discussed several topics central to the African Venture Capital story.

John began by emphasising on the importance of operational experience in raising VC funds, and the management of investments, which is even more crucial in the African continent. Simon - whose firm not only aims to make profit, but also to create jobs in the local markets they operate in - spoke with enthusiasm of the uncharted waters, which are the African Francophone nations, whose vast investment potentials have not yet been exploited by the amount of capital it would warrant. Next was Mark, who discussed the difficulty he and Bob Geldof faced during the fund raising for Africa-focused Private Equity fund, 8 Miles. Mark pointed out that their experience was disappointing, especially for a region whose growth and investment opportunities are still widely untapped.

The investor session ended with a short break and for some refreshment; thereafter, delegates were reconvened for the much-awaited entrepreneurs panel. The panel, chaired by Nzube Ufodike of Amoo Venture Capital Advisory, and was made up of Remi Okunlola, founder of SeaWolf Oilfields, Hannah Acquah, founder of the The Knowledge Channel and Joe Collins, founder of African Supplies. The discussion started off with a personal story of each entrepreneur, but a central theme soon emerged: the challenges they faced doing business in Africa. All three panelists agreed that the most important factor in determining success for an entrepreneur on the continent is having the right connections.

From Joe’s story about his goods being stuck in ports, to Hannah’s discussion about the way she found her business partners at various yacht and country clubs, and finally, Remi’s point that the continent does not have the robust checks and balances as Western Europe. At this point, the lesson became more apparent that having the right network is imperative for a successful venture in Africa.

At the end of the event, the general feedback from the delegates - many of whom are budding and established entrepreneurs and financiers themselves - was that the insights provided by both panels were not just invaluable, but also credible as these were based on experience of dealings in Africa. In addition, many also felt that events like these provide not only a fantastic networking platform for current business leaders in Africa, but also for those interested in developing their ties and relationships in the continent.


  1. It's sad to hear that a business cannot succeed in Africa unless its owner has the "right connections". Would have been good to hear from the speakers how such barriers could be overcome.

  2. Knowledge giving Article! I appreciate you. I completely agree with you. If we talk about current scenario then it is must be update. I enjoyed reading. I would like to visit more for more queries.

  3. I like this a lot. Thank you for sharing. I'm always looking for upcycles like this. In the end, you don't know it was a shipping pallet to begin with!
    T20 World Cup 2016 Tickets Available
    T20 World Cup 2016 Expected Players List

  4. Thanks for providing such a great info, you can see What Does Earth Day Mean plz like and share this post. Thanks Regards

  5. SHAREit is a free application that lets you send your content between PC, iOS and Android devices like photos, videos, music, and documents. Shareit for PC

  6. SHAREit is a free application that lets you send your content between PC, iOS and Android devices like photos, videos, music, and documents. SHAREit for PC

  7. Download SHAREit for PC or Computer on Windows 7/8.1/10. SHAREit for PC

  8. Drop the USBs, emails and text messages, SHAREit is the innovative way to transfer files in a flash. SHAREit for PC

  9. Great site and a great topic as well I really get amazed to read this. It’s really good. I like viewing web site again.
    Karnataka PUC students you can check PUC Exam results here at PUC Result 2017

  10. Iam glad to read this helpful Post. Thanks for sharing and keep sharing.

    The Best way to know your Exam Result here in online at CBSE 10th Result 2017

  11. I was about to say something on this topic. But now i can see that everything on this topic is very amazing and mind blowing, so i have nothing to say here. I am just going through all the topics and being appreciated. Thanks for sharing.
    Kerala, Karnataka and Tamilnadu SSLC Results in just one click on SSLC Result 2017

  12. Nice looking site.really appreciate for it and It is also useful for me.Thank you for sharing.
    Click on for your Kerala SSLC Result though online is the best way to find your results hurry up at Kerala SSLC Result 2017

  13. I was about to say something on this topic. But now i can see that everything on this topic is very amazing and mind blowing, so i have nothing to say here. I am just going through all the topics and being appreciated. Thanks for sharing.

    About Indian super league updates are here for more information log on isl 2017 schedule

  14. SSC Boards announce for the SSC Result log on here at SSC Result 2017

  15. Maharastra State SSC Exam result are here to know you result just type Mah SSC Result 2017

  16. nice click....US Open Tennis 2017 Live Stream

  17. This give the complete information of IPL 2018 IPL 2018 Schedule IPL 2018 Kindly click on the link

    Complete details of IPL 2018 Points Table available IPL 2018 Points table Please go through this link

    Details information regarding IPL 2018 Team & Players IPL 2018 Teams and Players list Click on this

    All information of IPL 2018 Auctions IPL 2018 Auctions Click here

    To get the live matches of IPL 2018 IPL 2018 Live Matches Click,watch and enjoy


  18. This valuable put up is normally impressive a! We really were quite satisfied to work out this valuable, really important. Such type of apply for is utterly fantastic one single! My spouse and I had been prepared to uncover such type of, really quite undeniably important. In these days just click right auto title loans chicago Regards on the subject of awesome highlights.


What are your thoughts?