TCS | Norrsken22’s Lexi Novitske on how China is winning African tech
- Chinese companies have established a strong presence in African technology, moving from telecoms to fintech and now AI models.
- Norrsken22 closed its debut fund at US$205-million in 2023 and is actively deploying that capital.
- African start-ups are increasingly utilizing Chinese AI models like Alibaba’s Qwen due to their affordability and availability.
The shift of investment focus from Africa to Silicon Valley could hinder the growth of a burgeoning tech ecosystem in Africa. It is crucial for investors to recognize the potential of African markets and the innovative solutions being developed locally, especially in AI and fintech.
