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East African Survey Deep Dives into Challenges and Opportunities Faced by the Region’s Tech Start-up Ecosystem

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Start-up Ecosystem

New survey reveals lack of access to investors, reliance on international VCs and global recession trends as the biggest perceived barriers for East African tech start-ups to access funds as Covid 19 has slowed down investments across the region’s start-up landscape

NAIROBI, Kenya, March 22, 2023/APO Group/ — 

The lack of access to investors, the reliance on international VCs and global recessions trends are perceived as threats by respectively 59%, 56% and 55% of respondents; 28% of respondents indicated that covid 19 had slowed down investment across the East African start-up landscape, making it the biggest impacting factor over the last twelve months; 54% of seed businesses rely on family and friends to provide funding; 74% of respondents needed to meet up to 5 investors before securing funds.

A new regional survey of tech start-ups across East Africa reveals that whilst investment levels remained relatively stable over the last twelve months, the heart of Africa’s start-up ecosystem perceives many roadblocks as having the potential to disrupt the region’s growth trajectory.

The survey entitled, ‘A Deep Dive into East Africa’s Start-up Ecosystem: Challenges & Opportunities’, attracted hundreds of respondents, with 25.9% being seed businesses, 28.7% being Series A businesses, 25% being Series B businesses and 20.4% being Scale-up businesses. The survey, conducted by regional tech event East Africa Com (https://apo-opa.info/3lpMoSE) and tech news portal Connecting Africa (www.ConnectingAfrica.com), is part of a benchmark survey mapping barriers faced by regional start-ups as well as opportunities to power nascent tech businesses in the region.

Funding trends

The survey found that access to funds over the last 12 months remained relatively stable compared to the previous period, as 25% indicated that year-on-year investment levels remained similar, whilst 25% and 19% of respondents indicated respectively a slight increase and a slight drop of investment levels.

Although 28% of respondents indicated that Covid 19 had slowed down investment levels across the East African start-ups landscape, making it the largest impacting factor for those young businesses, 17% of answers collected indicated that the pandemic had also boosted the digitalisation journey of the region, with a potential to create more opportunities for tech start-ups across the board.

The region remains a dynamic hub for start-ups which explains how 74% of tech start-ups only needed to meet up to 5 investors before securing funds. This number drops even further for seeds businesses as 52% of them needed less than 3 investors before securing new investments, a number that seems closely intertwined with their reliance (54%) on friends and family for fundraising. By contrast, 22% of series B businesses only managed to access new funds after reaching out to more than 10 different investors.

The report also establishes that whilst start-ups get investments from 2.1 different types of funding sources on average, the more established the start-ups become (series A, B and scale-ups), the more they can rely on crowd-funding, government-backed loans and bank loans as well as VCs to raise money. By contrast, seed businesses have an average of 3.7 different funding sources, with 54% of those young businesses relying on friends and family for funding.

Investment priorities

The survey unveils that the top three priorities of funding allocation focus on investing in equipment (26%)

Across all funding stages, entrepreneurs carefully plan the way they are allocating their funds. The survey unveils that the top three priorities of funding allocation focus on investing in equipment (26%), entering new geo markets (21%) and developing products (16%). Scale-ups especially put a strong emphasis on business expansion as 35% of them use funds to expand to new geographies.  

Talent recruitment still receives 14% of the funds received across all funding stages. But attracting new talents doesn’t seem to be perceived as the biggest priority for fund allocation.

Challenges and opportunities

Whilst there is huge tech potential in the region, there are still significant roadblocks that need to be addressed for the region to maintain its competitive edge as a tech start-up powerhouse. After a few years of business disruption, East African start-ups seem tuned in to potential impacts of events happening on the global stage on the region. This is how 55% of respondents identify the risk of a global recession and / or national economic situations as a potential threat, with 32% identifying this as a very high barrier.

56% of respondents also identify the reliance on international VCs as a high risk for business growth, an interesting figure to look at considering survey answers were collected shortly before the SVB crisis unfold.

Most importantly, 59% of respondents perceive the lack of access to investors as a business barrier. In light of the SVB crisis, East African start-ups’ appetite to diversify their sources of funding is likely to only increase.

Positive developments are also underlined as part of this exclusive report, with many opportunities for growth being identified by start-ups. The report highlights that greater networks of supporting incubators (57%), a widening of the pool of industries receiving funds (56%) as well as the rise of local VCs / funding opportunities (55%) all represent excellent prospects for growth for East African tech start-ups. The report also highlights that 74% of respondents identify sustainability as very relevant for their business mission.

AHUB East, powering East African start-ups during East Africa Com

“We are proud to present these survey results which help us keep the pulse on East Africa’s vibrant tech start-up scene to better assess how our programme and networking experiences can help deliver solutions for promising tech businesses to access funding, be agile and resilient, whilst remaining both innovative and competitive” said Ciara McDonald Heffernan, Head of Events for East Africa Com. “Start-ups are a driving force towards economic growth in East Africa, but now more than ever we are determined to focus our efforts on creating a favourable environment for tech start-ups to thrive.”

As a result, East Africa Com will host on 26 April an exclusive day dedicated to unlocking new opportunities for the region’s tech start-ups, AHUB East. AHUB East will deliver a powerful mix of content with a focus, among other topics, on the critical role of the region’s tech start-up ecosystem to create a sustainable future across Africa, what the SVB crash means for start-ups across the region, and how to stand out to potential investors. To provide a wide array of perspectives, investors from Ingressive Capital, Wadson Ventures, South B Group, Africa50 and more will take the stage alongside some of the region’s most exciting start-ups, including Waga Tanzania, AFAYREKOD, Lifesten Health and more.

AHUB East will also be home to a lively pitch competition where tech start-ups will battle on stage as they showcase their solutions in front of a live audience of hundreds of tech and telecom leaders. Judging the live pitches and providing 1-2-1 feedback to the competitors will be tech start-up experts Laurie Fuller, Venture Partner at Raiven Capital, Dario Giuliani, Founder & Director at Briter Bridges and John Kimani, Developer Ecosystem Program Manager at Google Kenya. 

Distributed by APO Group on behalf of East Africa Com.

Energy

Venezuela Energy Week Confirms 19 August Date for Houston Industry Showcase

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Officially supported by Venezuela’s Ministry of Hydrocarbons and national oil company PDVSA, the Houston Industry Showcase will take place on 19 August, convening U.S. energy leaders ahead of Venezuela Energy Week 2027 in Caracas

HOUSTON, United States of America, August 10, 2026/APO Group/ –The organizers of Venezuela Energy Week (VEW) have confirmed that the Houston Industry Showcase will take place on 19 August 2026 at The Post Oak Hotel. Officially supported by Venezuela’s Ministry of Hydrocarbons and national oil company PDVSA, the event will bring together U.S. energy companies, investors and policymakers to explore commercial opportunities ahead of Venezuela Energy Week 2027 in Caracas in February.

The showcase will feature Minister of Hydrocarbons Paula Henao as a keynote speaker, providing an update on Venezuela’s energy priorities, investment agenda and opportunities for international partnership. Her participation underscores the country’s commitment to strengthening engagement with global industry as it seeks to expand production and unlock new upstream investment.

Bringing together exploration and production companies, independent operators, oilfield service providers, engineering firms, technology companies and financial institutions, the Houston Industry Showcase will examine opportunities across exploration, production optimization, infrastructure rehabilitation and field development.

As Venezuela works to increase oil and gas production, demand is expected to grow for the technical expertise of U.S. service providers in drilling, well intervention, completion services, production optimization, artificial lift, digital oilfield technologies and infrastructure rehabilitation. Houston-based industry leaders – including SLB, Halliburton, Baker Hughes, Weatherford and a broad network of EPC contractors, equipment manufacturers and specialized service companies – are well positioned to support the modernization of mature fields, improve operational efficiency and deliver the technologies and services needed for future upstream projects.

The Houston event follows a successful Industry Showcase in London, which brought together international investors, operators and energy service companies to explore Venezuela’s evolving investment landscape. Building on that momentum, the Houston edition will deepen engagement with the U.S. energy industry and strengthen commercial dialogue ahead of Venezuela Energy Week 2027.

Venezuela Energy Week – the country’s largest energy investment platform to date – has been confirmed for 22–25 February 2027 in Caracas. Organized by Energy Capital & Power, the event will bring together government leaders, investors and industry stakeholders from across the global energy value chain.

To register for the Houston Industry Showcase on August 19, visit https://apo-opa.co/4g0TncR. To learn more about delegate, sponsorship and partnership opportunities for the showcase or to secure your place at Venezuela Energy Week 2027 in Caracas, contact info@venezuelaenergyweek.com.

Supporting Venezuela’s Earthquake Recovery
Our thoughts are with the people and communities affected by the recent earthquakes in Venezuela. As the country begins the long process of recovery, we encourage members of the global energy community to support relief and reconstruction efforts through the CAF Recovery and Reconstruction Fund for Venezuela, which channels contributions from individuals, companies and organizations to emergency assistance, essential services and long-term rebuilding efforts.

To learn more or make a contribution, please visit the CAF Recovery and Reconstruction Fund for Venezuela (https://apo-opa.co/4hkvteE).

Distributed by APO Group on behalf of Energy Capital & Power.

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Islamic Development Bank Institute (IsDBI) Secures New Patent for Smart Stabilization System from Intellectual Property Office of Singapore

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IsDBI

The Smart Stabilization System is a pioneering digital market infrastructure designed to stabilize asset markets by intelligently managing supply-demand gaps and mitigating excessive volatility

JEDDAH, Saudi Arabia, August 10, 2026/APO Group/ –The Islamic Development Bank Institute (IsDBI) (https://IsDBInstitute.org) is pleased to announce that the Intellectual Property Office of Singapore (IPOS) has granted a new patent for its innovative Smart Stabilization System.

 

The patent was granted on 10 July 2026 under Singapore Patent No. 10202250873B for the invention titled “A Computer Network Stabilization System and Method.” The patent application was filed on 1 September 2022 and was formally granted following a comprehensive review process.

This achievement reflects our commitment to translating pioneering research into practical solutions that contribute to economic resilience and sustainable development

The Smart Stabilization System is a pioneering digital market infrastructure designed to stabilize asset markets by intelligently managing supply-demand gaps and mitigating excessive volatility. Leveraging sophisticated algorithms and advanced simulation models, the system is designed to anticipate supply and demand imbalances and implement programmable stabilization measures before they escalate into market disruptions.

Unlike traditional stabilization mechanisms that rely on capital reserves, buffer funds, or external interventions, the Smart Stabilization System introduces a next-generation framework for achieving autonomous market stabilization through proactive and programmed stabilization mechanisms. By incorporating distributed ledger technology and cryptographic trust mechanisms, the platform enhances transparency, trust, and operational resilience for digital asset and commodity markets.

The successful patent grant reflects IsDBI’s growing contribution to technological innovation and its commitment to developing knowledge-based solutions that address contemporary economic and development challenges.

Since filing the patent application back in 2022, the Institute has continued to advance the Smart Stabilization System through ongoing development and testing, aimed to expand its practical applications and support future capitalization opportunities. These advancements have positioned the system as a potentially transformative solution for enhancing stability and resilience in increasingly digital and interconnected economies.

Commenting on this occasion, Dr. Sami Al-Suwailem, Acting Director General of IsDBI, said, “The grant of this patent by the Intellectual Property Office of Singapore further strengthens the Institute’s position as a leader in developing innovative knowledge-based solutions that leverage modern technologies to address complex development challenges. This achievement reflects our commitment to translating pioneering research into practical solutions that contribute to economic resilience and sustainable development.”

Distributed by APO Group on behalf of Islamic Development Bank Institute (IsDBI).

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Liberia to Preview Next Oil & Gas Licensing Round Strategy at Houston Investor Day

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The Liberia Petroleum Regulatory Authority will host operators, investors and partners in Houston on August 19 to preview future licensing opportunities and showcase the exploration potential of its offshore basins

HOUSTON, United States of America, August 7, 2026/APO Group/ –The Liberia Petroleum Regulatory Authority (LPRA) will present its strategy for the country’s next offshore licensing round at Liberia Investor Day Houston on August 19, bringing together international exploration companies, investors, service providers and energy leaders to discuss the next phase of Liberia’s upstream development.

Hosted in partnership with Energy Capital & Power, the event will provide a platform for the LPRA, led by Director General Hon. Marilyn T. Logan, to outline Liberia’s regulatory framework, investment priorities and plans to attract new participation across the country’s offshore sector. Discussions will focus on upcoming licensing opportunities, exploration prospects and the subsurface data supporting future investment decisions.

Liberia’s offshore sector is entering a new phase of exploration activity, with renewed international participation and a growing pipeline of opportunities. Following the award and ratification of eight Production Sharing Contracts in 2025, Liberia has re-established itself as a frontier exploration destination, with international operators advancing work programs designed to further evaluate the country’s petroleum potential. TotalEnergies is progressing exploration activities that include offshore geochemical surveys, 3D seismic acquisition and seabed mapping, while Oranto Petroleum has also signed contracts to explore Liberia’s offshore.

At the Liberia Investor Day Houston, the LPRA will provide industry stakeholders with insight into the priorities shaping the next licensing round, including the anticipated process, qualification requirements, available acreage and access to technical data. The engagement will give prospective investors a clearer view of Liberia’s exploration landscape and the opportunities emerging across its offshore basins.

The event will also facilitate direct dialogue between LPRA and the global upstream community, connecting companies with policymakers and industry stakeholders involved in shaping Liberia’s next chapter of petroleum development.

As exploration companies continue to seek new frontier opportunities, Liberia Investor Day Houston will highlight the role of regulatory certainty, data availability and strategic partnerships in unlocking long-term investment across Liberia’s offshore sector.

Registration is now open for attendees. Companies interested in Liberia’s emerging offshore opportunities are invited to join LPRA, investors and upstream leaders in Houston for insights into the country’s licensing strategy and exploration outlook. For more information contact info@energycapitalpower.com.

Distributed by APO Group on behalf of Energy Capital & Power.

 

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