By 
African Development Bank Drives Tech Entrepreneurship Growth Through International Collaboration.
Twenty young tech entrepreneurs from eight African nations are in South Korea on a two-week study tour. The initiative is aiming to secure investments and insights from the country’s advanced innovation ecosystem. The event is organised by the African Development Bank Group’s (AfDB) Innovation and Entrepreneurship Lab. It highlights the Bank’s commitment to fostering tech entrepreneurship as a key driver of economic transformation on the continent.
RELATED: AfDB and Intel partner to train millions in AI for Africa’s digital future
The entrepreneurs were selected from 133 ventures that participated in the Africa Tech Startup Forum last month. They represent diverse sectors, including agritech and health. Their tour is part of the Lab’s “Leveraging the Entrepreneurial and Innovation Success of Korea to Strengthen African Enterprise Support” project. The group includes startups with standout business models identified during a virtual acceleration program designed to prepare them for global opportunities.
Building Bridges Between Africa and Korea
Hailing from Egypt, Ghana, Kenya, Morocco, Nigeria, Rwanda, South Africa, and Uganda, the delegates will visit prominent institutions such as the Global Startup Centre, LG Science Park, and Korea Software Technology Association. They will a interact with unicorn companies—startups valued at over $1 billion. The ventures will also participate in events like the K Startup Grand Challenge, Africa Innovation Networking Gala, and COMEUP Korea, which connects Korean startups with global investors.
“This tour is a game-changer,” said Uche Ezadinachi, founder of Kenya-based Zuri Health. “South Korea is a technology-driven society, and this is an opportunity to learn how we can adapt and bring similar advancements to Africa.”
David Chen, co-founder of Rwanda-based Kapsule, emphasised the importance of relationship-building. “Face-to-face interactions will help us link with other health technology companies in Asia, opening doors for collaboration,” he said.
The AfDB’s Role in Driving Entrepreneurship
The study tour is financially supported by the Korea-Africa Economic Cooperation Trust Fund. It forms part of the AfDB’s Jobs for Youth in Africa Strategy, which aims to create 25 million jobs by 2025.
Martha Phiri, the AfDB’s Director of Human Capital, Youth and Skills Development, described the initiative as pivotal. “By equipping young entrepreneurs with the skills to expand their ventures, we contribute to significant job creation and economic growth across the continent,” she stated.
Ndeye Absa Gningue, Innovation Platform Officer at the Bank’s Innovation and Entrepreneurship Lab, echoed this sentiment. “Platforms like the Africa Tech Startup Forum give young people the tools to thrive. We’re committed to working with them to unlock their full potential.”
Africa’s Tech Narrative Is Changing
With support from institutions like AfDB and exposure to global innovation hubs, Africa’s tech ecosystem is poised for transformative growth. Programs like this showcase the continent’s entrepreneurial potential. They also ensure that African startups remain competitive on the global stage.
The delegation are expected to return from Korea with fresh ideas, strengthened networks, and potential investments. On its part, the AfDB continues to champion initiatives that empower Africa’s youth. The bank is committed to empowering young people to lead the continent’s digital and economic transformation.
