Phene Partners hosted a virtual Round Table discussion for its AfriFoodTech Innovation Fund initiative on the 3rd December 2024.
The Round Table included representatives from the Government of Kenya, the UKFCDO, AGRA, UNCDF, The Tony Blair Institute for Global Change, the Africa Business Angel Network (ABAN), SAGCOT (Tanzania), the Southern Africa Confederation of Agricultural Unions (SACAU), Open Space Capital, an east African based Private Equity firm, and the Committee on Earth Observation Satellites.
The engaging discussions covered a range of topics; the critical role of technology in driving the entire future of African food processing and production, the significant lack of angel and VC funding for African AgriFoodTech, significant opportunities emerging in data processing and AI, the importance of investing in Digital Public Infrastructure (DPI) – such as electricity, internet access, but also data driven public goods and federated data hubs.
Ground-breaking advances in other locations (particularly Asia), were highlighted that had relevance for Africa, the importance of developing ground-up solutions which are rooted in the practical needs and affordability of farmers and other operators in the eco-sysyem, and more fundamentally a longer term 10 year vision for agrifood tech and innovation investing which would benefit greatly from targeted top level political leadership and support.
A key component of the discussion was the need for complimentary strategies to be advanced. This would include the need to promote dedicated agrifood tech innovation investing teams, the continued strengthening of existing agrifood tech focused accelerators promoting locally driven start ups, together with enhanced agrifood tech investing strategies which promote at scale value chain driven solutions that have the effect of leveraging in the capacity of best in class investment options available both regionally and globally.
That there is also a need for strengthening agrifood innovation hubs at the country and regional level and to facilitate dynamic ecosystem growth through a series of targeted innovation sprints supporting the identification of new solutions & commercial opportunities for agrifood tech development responsive to current needs, complimentary policy and regulatory measures, targeted building of the required capacity and the debottlenecking critical issues impeding growth.
In particular we were privileged to have participants including Ambassador Philip Thigo, Special Envoy on Technology for the Republic of Kenya; Fadilah Tchoumba, CEO, Africa Business Angel Network (ABAN); Philip Gasaaturu, Managing Partner of Open Space Capital; Geoffrey Kirenga, CEO of SAGCOT (Tanzania); Ishmael Sunga, CEO, Southern Africa Confederation of Agricultural Unions; Jennifer Baarn, Head of Partnerships AGRA, Nixon Gecheo, Senior Programme Officer for Digital Systems and Solutions AGRA; Ivana Damjanov, Country Lead, Digital Technologies, UNCDF, Tanzania; Paul Damocha, Digital Finance Expert UNCDF; Mike Reddaway, Senior Advisor UKFCDO; and Steven Ramage, Executive Officer Committee on Earth Observation Satellites.