Akinkunmi Akindiji is a property investor, technology consultant, and avid F1 fan, Kunmi has a diverse range of interests and expertise. With a background in delivering projects across a variety of industries, including insurance, banking, telecoms, and automotive, Kunmi has a wealth of experience supporting enterprise scale digital transformation projects.

1. The Impact of Covid-19 on Tech Investment in Sub-Saharan Africa
The outbreak of the Covid-19 pandemic in early 2020 sent shockwaves across the
globe, disrupting economies and causing unprecedented challenges for businesses in
every sector. Sub-Saharan Africa, like the rest of the world, was not immune to the
effects of the pandemic. The region faced not only health and humanitarian crises
but also significant economic repercussions, including the tech investment
landscape. In this article, we explore the impact of Covid-19 on tech investment in
Sub-Saharan Africa and the opportunities and challenges that emerged as a result.
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1. Acceleration of Digital Transformation
The pandemic forced businesses, governments, and individuals to adapt quickly to
the new normal, leading to an acceleration of digital transformation across various
sectors. Companies that had previously been hesitant to embrace technology were
compelled to digitize their operations, implement remote working setups, and
explore digital solutions to stay afloat during lockdowns.
This rapid shift towards digitalization presented new opportunities for tech
investment in Sub-Saharan Africa. Investors recognized the potential for growth in
areas like e-commerce, digital payments, online education, telemedicine, and remote
work solutions. Startups and tech companies that could address the emerging needs
of the pandemic were able to attract more funding and support during this time.
2. Increased Demand for Digital Solutions
With movement restrictions and safety concerns, there was a surge in demand for
digital solutions that could cater to people's essential needs without physical contact.
E-commerce platforms experienced a significant uptick in usage as consumers turned
to online shopping for groceries, medicines, and other necessities.
Fintech solutions, especially mobile money platforms, also saw increased adoption as
people sought safer alternatives to handle financial transactions. Additionally,
healthtech solutions, such as telemedicine platforms and health monitoring apps,
gained popularity, enabling remote consultations and healthcare services.
3. Impact on Funding and Investment
While the pandemic brought new opportunities for tech investment, it also presented
challenges. Investors, particularly international ones, adopted a cautious approach

2. due to the uncertainty brought about by the pandemic. Funding rounds for startups
and early-stage companies faced delays or reductions in funding amounts.
However, despite the initial slowdown, many local and international investors
remained optimistic about the long-term potential of tech in the region. As the
pandemic situation stabilized and businesses demonstrated resilience in adapting to
the new circumstances, tech investment activities gradually regained momentum.
4. Importance of Local Solutions
The pandemic underscored the importance of locally-driven solutions tailored to the
unique challenges faced in Sub-Saharan Africa. Startups and tech companies that
were able to pivot quickly to address specific regional needs saw increased interest
from investors. Local investors also stepped up to support homegrown startups,
recognizing the potential for these companies to drive positive change in the region.
5. Impact on Workforce and Skills Development
Covid-19 accelerated the adoption of remote work, and many tech companies
shifted to distributed workforces. This change allowed companies to tap into talent
beyond their traditional geographic boundaries, enabling them to access skilled
individuals from different regions.
Additionally, the pandemic highlighted the importance of digital skills development.
As demand for tech solutions increased, so did the need for a skilled workforce to
develop, implement, and maintain these technologies. This emphasis on digital skills
training and education opened up opportunities for tech investment in training
programs and edtech platforms.
6. Uneven Impact on Tech Sectors
While some tech sectors experienced growth during the pandemic, others faced
challenges. For instance, sectors like travel tech and hospitality tech suffered due to
the severe disruptions in travel and tourism. Similarly, startups dependent on physical
retail or offline operations faced difficulties.
On the other hand, sectors like healthtech, fintech, and edtech saw significant growth
and received increased attention from investors and stakeholders. The pandemic
highlighted the resilience and importance of certain tech sectors in Sub-Saharan
Africa's development.
Conclusion

3. The Covid-19 pandemic had a profound impact on tech investment in Sub-Saharan
Africa, presenting both challenges and opportunities. While there was initial caution
from investors, the acceleration of digital transformation, increased demand for
digital solutions, and the importance of local innovations created a fertile ground for
tech investment. As the region continues to recover from the pandemic's effects, the
tech sector is expected to play a critical role in driving economic growth, promoting
digital inclusion, and addressing societal challenges. Investors who recognize the
potential of tech in Sub-Saharan Africa and embrace the unique opportunities it
offers are likely to contribute to the region's progress while achieving significant
returns on their investments.