How African startups can leverage AI for funding
- 85% of Africa's workforce is employed in the informal economy, contributing over 60% of the continent's GDP.
- Fewer than half of African startups survive beyond three years due to lack of funding and poor record-keeping.
- AI tools can automate record-keeping, helping informal businesses maintain organized digital books.
The integration of AI into the informal sector presents a transformative opportunity for African startups. By addressing the fundamental challenges of record-keeping and access to finance, AI can empower entrepreneurs to transition from informal operations to more structured, sustainable businesses. However, the success of this transition will depend on the availability of affordable technology and the willingness of investors to engage with these emerging enterprises.
