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“The language barrier is an inhibitor to international interest” which has kept valuations down in French-speaking countries, Haider says. She has been speaking with founders in francophone Africa over the last 12 months.
Venture capital interest in Africa has been surging, with a record $5.2bn invested on the continent in 2021, according to the African Private Equity and Venture Capital Association (AVCA). That means 51% of the total value of VC deals in Africa since 2014 was invested in 2021. Nigeria took first place in Africa last year, replacing South Africa as the continent’s biggest VC investment destination.
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