At a technology fair known as Viva Tech in Paris on Thursday showcasing African talent this year, President of France, Emmanuel Macron says his country will invest $76 million in African startups, stating that innovation in the continent is key to meeting challenges ranging from climate change to terrorism. The African section of Viva Tech has become very notable, and gigantic signs are pointing to stands from South Africa, Morocco and Rwanda as well as so many other African entrepreneurs.
Omar Cisse who heads a Senegalese startup called InTouch, which has developed an app making it easier to conduct financial transactions by mobile phone said the challenges for African startups are tremendous, but so are the opportunities. He stated; “Globally, you have more than $1 billion per day of transactions on mobile money, and more than 50 percent are done in sub-Saharan Africa.” “In Africa, you have very huge potential. Everything needs to be done now, and with local people who know the realities.”