Africa long way off from introducing first ‘unicorn’
Continent continues to innovate while waiting for the first US$1bn company.
Africa is still waiting to meet its first ‘unicorn’ (start-up company valued at over US$1 billion), according to a recent report by Liquid Telecom.
The Africa innovation report highlights how five countries known as the ‘Africa Kings,’ namely; Kenya, Ivory Coast, Nigeria, Ghana and South Africa, have been leading the way in digital innovation. and will produce the continent’s first unicorns.
This will be as a result of increasing innovation and a growing African population of about 200 million young people between the ages of 15 and 24, expected to double by 2025.