Africa's innovation ecosystem has shown remarkable resilience in the face of gloomy global economic predictions. The year 2023 has started on a positive note, with the continent's venture capital scene remaining vibrant and full of promise, despite ongoing global uncertainties.

Driven by a relentless commitment to innovation and the determination to overcome numerous hurdles, African entrepreneurs are garnering global recognition and support. Recent trends highlight the rapid evolution of the startup scene, particularly in Ghana.

In 2019, two private equity firms came together to form a venture capital fund to invest in African startups. That had been a record-breaking year for VC funding in Africa with $1.3 billion invested in startups, and so it made...

The economy of Ghana achieved consistent and strong growth in the years leading up to the pandemic, resulting in improved business competitiveness and poverty reduction. From 2017 to 2019, the country’s gross domestic product (GDP) grew strongly (2017: 8.1%; 2018:...

Ghana demonstrates a high level of entrepreneurial activity. Almost half (49.2%) of all people employed in Ghana (15 years and above) own their own businesses. MSMEs dominate the entrepreneurial space and play an important role in the country’s economic development.

In Ghana, the two sectors with the highest expected growth in terms of GDP value added are the services sector and the agriculture sector.

The African venture capital sector is still very much a “man’s world”, but the quality of its investments and ability to make a greater impact suffer as a result.

The AFDB profiles two successful entrepreneurs based on their age, gender, the sectors they work in, and the target group they serve. One entrepreneur uses digital technologies as a core feature of his business, and the other focuses on technology...