The World Economic Forum’s (WEF) 2021 cohort of 100 Technology Pioneers included eight African startups recognized for their innovations in healthcare, finance, and sustainability. The list highlighted companies addressing global challenges through technology, with several making significant contributions during the COVID-19 pandemic.
54gene: Genomic Research in Nigeria ¶
Founded in 2015, 54gene focuses on sequencing African genomes to develop targeted medical treatments. Its CEO, Abasi Ene-Obong, a Nigerian doctor with degrees from Imperial College London and Claremont Graduate University, led the company’s 2020 initiative to establish mobile COVID-19 testing labs in Nigeria. The startup raised $15 million in April 2020 to support its genomic research mission.
mPharma: Expanding Healthcare Access ¶
Based in Accra, Ghana, mPharma, co-founded in 2013 by Gregory Rockson, provided critical pandemic support by supplying diagnostic equipment to Ghana and Nigeria through a $3 million fund. The company, which manages pharmacy inventory across eight countries, acquired Kenya’s Haltons pharmacy chain in 2019 and plans to expand into Ethiopia.
Kibo Capital: Digital Receipt Solutions ¶
Kibo Capital Group Limited, operating in Nairobi, Kampala, and Kigali, offers digital receipt systems to reduce physical contact during the pandemic. The startup, which registered utility models in 2017, integrates with MPESA and card payments, generating automatic receipts via SMS. It aims to expand into Uganda and Rwanda.
Cambridge Industries: Sustainable Waste Management ¶
Based in Addis Ababa, Ethiopia, Cambridge Industries, led by Samuel Alemayehu, developed the country’s first waste-to-energy plant with Chinese partners. The facility, supported by the Ethiopian government, processes 80% of municipal waste and powers 25% of the city’s households. Alemayehu, a Stanford graduate, emphasizes energy recovery and recycling technologies.
FlexFinTx: Blockchain for Identity Verification ¶
Harare-based FlexFinTx, co-founded by Zimbabwean Victor Mapunga in 2018, uses blockchain to create digital identities for 400 million Africans without internet access. The FlexID wallet connects users to financial institutions and government agencies, enabling bank account openings and contract signings. The startup, part of the Decentralised Identity Foundation since 2020, collaborates with Microsoft and IBM.
Kuda: Digital Banking Growth ¶
Nigeria’s Kuda, an online bank founded in 2016 by Babs Ogundeyi and Mustapha Musty, reached 1 million customers by May 2021. It secured a Nigerian banking license and $36.6 million in funding, including investments from Valar Ventures. The platform processes $2.2 billion in transactions monthly, competing with global neo-banks like Nubank and Revolut.
Moringa School: Tech Talent Development ¶
Founded in 2014 in Nairobi, Moringa School trains software developers and data scientists for African and international firms. With 3,000 graduates and an 85% employment rate, the institution partners with Microsoft and Mastercard Foundation. It received undisclosed funding from Netherlands-based DOB Equity in 2019.
Sokowatch: Retail Inventory Optimization ¶
Sokowatch, based in Nairobi, uses algorithms to improve inventory management for informal retailers. Featured in Fast Company’s 2021 Most Innovative Companies list, the startup partnered with Unilever and Procter & Gamble. It raised $30 million in 2021 through investors including Catalyst Fund and 4DX Ventures.
The Africa Report noted that Lagos surpassed Nairobi as Africa’s top startup hub in 2021, with Nairobi dropping 20 spots to 136th. Lagos outperformed Cairo, Abu Dhabi, and Riyadh in the Middle East and Africa region.
The WEF’s 2021 Technology Pioneers included 54gene, mPharma, Cambridge Industries, FlexFinTx, Kuda, Moringa School, and Sokowatch. Since 2000, the list has recognized innovators like Google and Spotify.
