Neexa AI’s Ethan Bampeire on building a startup in Uganda
- Ethan Bampeire, co-founder of Neexa AI, highlights the lack of substantial investment for young entrepreneurs in Uganda despite numerous training programs.
- Uganda attracted only an estimated $18 million in venture funding in 2024, significantly lower than Kenya, Nigeria, or South Africa.
- Local financial institutions prefer collateral-backed lending, making it difficult for startups to access necessary funds.
The challenges faced by Ugandan entrepreneurs underscore the need for a more supportive investment climate and innovative funding solutions. Without addressing the capital scarcity and fostering a culture of risk-taking among local investors, the potential of Uganda's vibrant youth and tech talent may remain untapped.
