If Ibrahim’s and Dangote’s business represent different waves of improbable success in services and industrial based businesses, then the advent of improved technological capacity may herald a new roster of tech-driven African businesses.
Better technology and wider access on the continent has equipped more Africans with connectivity. And with connectivity comes unprecedented access for the ‘less-connected’ person to launch ideas. In other words, access to technology has helped to weaken some of the previously (seemingly?) insurmountable challenges of lacking conventional ‘networks’.
A more nuanced explanation maybe that the firms which exist lack ‘an ear to the ground’ on new tech-based businesses and as a result, do not have a high rate of success in finding these investments or find that exit opportunities may be less prevalent for tech-based firms.