After a tough few years of conflicts and upheaval, North Africa tech is now in focus with most Arab speaking countries under-served in terms of content, tech and start-ups.
Speaking with Appsafrica.com, Hasan Haider head of 500 startups for Middle East and North Africa shares how 500 Startups are actively looking to invest in 100-200 start-ups in the next two years in Middle East and North Africa with the potential for 20-30 investments per year in North Africa.
Haider sees North Africa as a very “interesting growing market, demographically in the region, more than 50% of some populations are less than 25 years old.” Overall the Arab speaking North Africa is an exciting prospect with 500 start-ups already investing in four ventures in Egypt.
As previously reported Aaron Fu Managing Partner from Nest.VC in Kenya shared his thoughts on why Morocco is now a big opportunity on the radar of global investors, a point Haider concurs with, explaining Morocco and Tunis are early ecosystem plays with lots of opportunity now rising.
Geographically they are well located between Africa, Europe and the Middle East, founders are bright and well educated with Moroccan diaspora now coming back to start-up new tech businesses, meaning the future is now looking bright for the North African ecosystem with continued investment and support.