Is Kenya Africa’s Silicon Valley?
Kenyans are creative and funny people and if there is a group that you should not mess with is Kenyans on Twitter (KoT). These are the guys looking for latest memes and also carry out massive campaigns. If you do not know what they are capable of, then talk to someone like Koffi Olomide and you will get an idea. They do any challenge that comes their way be it Wanjigi’s challenge or Malema’s challenge for ‘Mama they are here’
However, despite Kenyans being cheeky, they are the brightest minds on the African continent. In fact, Nairobi, which is the capital city, can be viewed as the Silicon Valley of Africa due to the technological advancements and innovations taking place within its boundaries. The following are some of the reasons why Kenya is the epicentre of innovation in Africa
- The first country to introduce mobile money
Who thought a country with 36% of the entire population living below $1.9 a day and unemployment rate of 39% can come up with such a revolutionary innovation? M-PESA was launched in 2007 and as they say, the rest is history. We have had people come from all over the world come to study how mobile money transfer works. No one can talk about mobile money transfer and fail to mention either Kenya or M-PESA. Even though other companies have since adopted the service, M-PESA still dominates the mobile money transfer scene. Several mobile money transfer companies have partnered with banks and international money transfer providers to make the transfer of funds easy.
2. Presence of many technology hubs and incubators
We all know that some people have innovative ideas but lack the necessary resources to implement those ideas. There are many entrepreneurial hubs in Kenya that not only provide mentorship but also resources that startups need. Some incubation centres are focusing on making business owners rather than job seekers. A good example is the Chandaria Business Innovation and Incubation Centre that targets students in Kenyatta University and other institutions of higher learning as well. These hubs have varying packages and one can always choose a package that suits him or her.
3. Kenyans are hardworking and business oriented
Some argue that Kenyans are gullible because they do not let any business opportunity slip by. Some have lost huge sums of money but a good number have also made fortunes through such opportunities. Sometimes the problem is with the political class who do not want to empower the electorate so that they can remain beggars forever. But that is beyond the point because Kenyans have the willpower. They are the kind of people who will use the available resources to learn a new skill and make a killing. Kenya is among the few countries in Africa with a Bitcoin ATM which shows that there is widespread knowledge and adoption of the emerging technologies. The Kenyan government also seeks to use Blockchain technology in the land registry. A good number of Kenyans are also working from home and making a living out of it which shows that we are the right track.
International tech firms are investing in Kenya as they realize that its market has a lot of potentials. There is also cooperation between the informal sectors and formal sectors to make Kenya the technological hub and innovation centre of Africa. A side note, it is easier to pay for a cab using mobile money in Nairobi than it is to do the same in New York. Sounds too good to be true? Do your research.
