Wimbart Investor Comms Partner Interview – London Africa Network
Wimbart recently released the second edition of our report “Startup Performance Reporting in Africa: Aligning Startup and Investor Expectations.” Building on the work we started in 2023, this year’s report included Q&As from our illustrious partners and also insights directly from startup founders. With this added perspectives, the report aims to provide valuable guidance for both founders and investors, driving stronger relationships and more effective communication across the African tech ecosystem.
In our partner interview with Anas Ben Mejdoub, Head of Community at the London Africa Network, Anas highlights the complementary strengths of the UK and African tech ecosystems and discusses the impact and potential of these cross-continental partnerships. He expands on how bridging the gap between investors and founders requires trust-building, cross-pollination, and a deeper understanding of contexts to overcome Africa’s trust deficit with foreign capital. There’s a lot to unpack in this insight-jammed interview!
Please click here to download the full report. Enjoy the read.
What synergies exist between the UK and African tech ecosystems, and how can collaboration be improved?
Both ecosystems offer unique profiles that are extremely complementary.
Africa is experiencing the fastest digital transformation, with a burgeoning fintech scene, and mobile-first innovations that are truly tailored to an underserved market. On the other side, the UK has a mature financial landscape, one of the strongest regulatory landscapes, and unique access to global markets.
We see each one as a facilitator for the other. When you’re faced with a lack of resources on either side, chances are you’ll meet the right people on the other side to help you bridge that gap.
What role do cross-continental partnerships play in driving innovation and growth, and how do they impact the African and UK tech ecosystems?
The most obvious role these partnerships play is the exchange of expertise and know-how.
There’s an acute difference in contexts that, if shared amongst continents, will help see more homogenous and competitive growth on both sides. On the UK side, this means wider access to an increasingly booming and immense market. On the African side, mentorship, technology exchange, joint venture projects, and more are invaluable.
In the mid-to-long term, the impact is not simply localised to both sides but can open opportunities globally as the innovation we see when these partnerships happen often leads to leapfrogging in developing new technologies or more sustainable ways of doing business.
How can we bridge the gap between investors and founders to foster better understanding?
The challenge is a very frustrating one, especially given that it comes from a lack of comprehension from international investors. New markets often face this burden of proof, and Africa has historically had a trust deficit with foreign capital. I think there’s no other solution than cross-pollination. People need to meet, build those relationships of trust, and share their expectations on both sides. Most often, what we see is people not understanding contexts or how they can work together for impact or profit as the primary reason for deals or projects being left on the table.
Africa’s not an easy market to navigate, but there are enough people who understand it and can bridge those misunderstandings with global traditional players.
What steps are needed to ensure sustainable growth and mutual benefit for African founders and UK investors?
First and foremost, trust. It’s critical to build transparent business practices and alignment on long-term goals. Second, creating hybrid investment models that consider both the risk tolerance of UK investors and the unique growth trajectories of African startups. Third, getting people to talk to each other. An ongoing dialogue through conferences, mentorship programs, and collaborative workshops is necessary. Thankfully, people are championing these practices within the UK-Africa corridor, and the results are starting to emerge.
But there’s also, and maybe most importantly, a policy component. Supporting policy initiatives that promote ease of doing business between the two regions ensures that regulatory and infrastructural barriers don’t hinder already challenging processes.
