Elisabeth Moreno Advocates for Increased Investment in African Startups

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Moroccan Event Highlights Critical Investment Opportunities

Former French Minister of Gender Equity and current President of Ring Capital, Elisabeth Moreno, is championing the cause of increased investment in African startups. During her appearance at GITEX Africa in Morocco, she underscored the untapped potential of the African market, emphasizing sectors such as renewable energy, climate change, and infrastructure.

Moreno, who leads Paris-based venture capital firm Ring Capital, revealed the company’s focus on Francophone African countries, where investment levels lag behind those in Nigeria, Kenya, South Africa, and Egypt—dubbed “The Big Four.” Despite the firm’s current focus, Moreno highlighted the broader challenges African startups face, including persistent prejudices and stereotypes that hinder their ability to attract funding.

A case in point is Nigerian startup Kuda Technologies, which relocated its headquarters to the United Kingdom to secure better funding opportunities. This move, Moreno noted, illustrates the additional hurdles African startups must navigate to gain investor confidence.

Moreno challenged the prevailing notion that Africa is an unviable investment destination. She identified three primary investment areas: renewable energy, infrastructure, and electrification. “The sectors that are really booming are those around renewable energy. Africa has abundant sun and wind, providing many potential solutions,” Moreno stated.

She further highlighted climate change as a critical issue, particularly its impact on water resources. “Water is life,” Moreno declared, emphasizing the importance of addressing climate change’s severe consequences on the continent. Infrastructure and electricity also featured prominently in her investment priorities.

Addressing the need for strong regulatory policies, Moreno stressed the importance of creating a safe and transparent environment to attract capital to African startups. “If you want to invest your money, you would naturally choose a safe option. You worked hard for this money, and you want to invest it wisely, hoping for returns. Once you get returns, you can invest even more,” she explained. Transparency, regulation, and robust project development are key to instilling investor confidence, Moreno added.

Elisabeth Moreno’s advocacy at GITEX Africa serves as a powerful call to action for increased investment in the continent’s burgeoning startup ecosystem.

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