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January 22, 2024
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Unveiling Africa’s Thriving Venture Capital Scene: Meet Hiruy Amanuel

In this article, Hiruy Amanuel, an African Venture Capitalist and major investor in Africa’s technological advancement, discusses the state of Africa’s venture capital (VC) ecosystem.

  • Amanuel was inspired to invest in Africa due to the lack of talent training and the large youth population.
  • He describes Africa’s entrepreneurial ecosystem as challenging, with infrastructure issues and a lack of training hindering entrepreneurs.
  • He believes that sectors where technology and infrastructure intersect, such as fintech, microfinance, and healthtech, hold the most promise for VC investment in Africa.
  • Amanuel sees opportunities in mobilizing the continent’s youth and training them, which leads to better return on investment.
  • He advises aspiring entrepreneurs in Africa to have a vision and a purpose that goes beyond monetary returns, to be passionate and diligent, and to think long-term.
  • Amanuel believes that more private firms are needed to help founders and young startups scale, providing mentorship and support.

Amanuel is the Managing Director of Gullit VC, a venture capital firm that invests in early-stage African tech startups and provides various forms of support.

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