Digital bridges unlock Africa’s private sector potential
Key speakers included Tamer Taha from Hefez, Maneesha Gardizi from GIZ, and Alan Ananulu from iVenture, discussing bridging information and financial gaps for businesses.
Opportunities often need to be gathered in a single place to be easily accessible and visible, and that is the purpose of innovative digital platforms, which build bridges connecting Africa’s private sector with development opportunities. Egypt’s ‘Hafiz’ platform, introduced by Tamer Taha during the IGF 2024 session ‘Building Bridges in Africa in the Digital Age‘ in Riyadh, is the basis for this purpose. Hafiz addresses the persistent information and financial gaps plaguing Egyptian companies seeking to expand into Africa. ‘We gathered the right information and financial tools in a structured way so businesses can access opportunities and grow regionally,’ said Taha, highlighting its role as a game-changer for sectors like manufacturing and construction.
The discussion, moderated by Mahitab Assran, underscored how platforms like Hafiz and Uganda’s iVenture empower small and medium enterprises (SMEs) and startups. Manija Gardizi of GIZ emphasised inclusivity, saying ‘These platforms allow smaller players to participate in development projects traditionally dominated by larger corporations, fostering innovation and equal opportunity.’
Alan Ananulu of iVenture shared success stories from East Africa, including Maarifasasa, a startup offering job-market training. His solution to Africa’s infrastructure challenges was simple but effective: low-tech solutions like WhatsApp and Facebook allow platforms to reach underserved entrepreneurs with limited connectivity.
Despite progress, significant hurdles remain—regulatory barriers, such as inconsistent recognition of e-signatures, hamper cross-border trade. ‘Mutual agreements on digital signatures are vital for facilitating trade and reducing friction,’ Gardizi noted. Ananulu added that startups often struggle with market entry restrictions, citing visa challenges as obstacles to regional expansion, and Taha suggested introducing soft-landing programs to help entrepreneurs navigate regulatory landscapes and establish trust across borders.
The session also revealed growing optimism among stakeholders. An interactive poll showed that participants viewed South-South collaboration as key to improving Africa’s investment climate. Traditional industries emerged as the sector that needs the most solutions, reflecting a desire to modernise and connect legacy businesses with emerging opportunities.
As the conversation drew close, audience questions reinforced the need for awareness campaigns and venture capital integration. Taha confirmed plans for capacity-building initiatives and nationwide roadshows to help SMEs sharpen their competitive edge. ‘It’s not just about opportunities—it’s about ensuring businesses have the tools to succeed,’ he concluded.
What’s clearly emerging from this session is the consensus that digital platforms are more than tools; they are catalysts for change, enabling businesses to overcome systemic barriers and unlock Africa’s immense economic potential. These platforms hold the key to a more connected and prosperous future by fostering trust, inclusivity, and innovation.