Francophone African countries such as Ivory Coast or Morocco are regarded as the next markets for most French companies. The emergence of the middle class, growing purchasing power and strong aspirations of the population make these markets more and more attractive to foreign companies.

To succeed in Africa, it is critical to understand the specificities of these markets and how technology has changed consumers’ behaviours. Innovators there have come up with unique services to solve local issues, mostly in off-grid tech, fintech and e/m-commerce.  Francophone African countries are particularly innovative. 14% of the total number of venture capital deals in 2016 involved startups in Francophone African countries (source: Partech Ventures). 

Ivory Coast benefits from a growing middle class and is part of the 10 fastest growing countries in Africa with a GDP growth rate of 7.2%. It’s the first producer and exporter of cacao in the world.  That’s why Ivory Coast is one of the first African countries where French companies decide to develop their activities.

The startup scene in Ivory Coast is growing and gaining traction. Tech hubs are popping up like mushrooms, the ecosystem is becoming more structured and startups raised 13 million dollars in 2016, which makes the country rank in the top 10 of most funds raised by startups.

Senegal is regarded as one of the most stable countries in Africa. Strong demographic growth and rapid urbanization in recent years is transforming the economy.  45% of its population now lives in cities.

Senegal has the fastest growing off-grid solar energy startup in West Africa (3.2 Million $ raised), Oolu.  “Solar as a service” is giving millions of Africans in remote locations access to electricity via portable solar panels, controlled – and paid for – via mobile phones.

Senegal is also building a futuristic city close to Dakar. Diamniadio costed $2 billion and will be completed by 2035. When finished, Diamniadio will span 4,000 acres and feature an industrial park, state ministries entertainment facilities, and a university for around 30,000 students. The project will also provide a mix of luxury, middle-class, and affordable housing for around 350,000 residents.

Rwanda is positioning itself as a test bed and laboratory for African startups with forward thinking policies and one of the highest ease of doing business scores on the continent. Startups from Rwanda have raised 16 million dollars in 2016 (4th highest amount in Africa).

The country is deeply committed to developing its entrepreneurial and innovation ecosystem and was awarded US$30 million in funding to support the establishment of the Rwanda Innovation Fund in March 2018.  Rwanda has also an established community to support early-stage tech startups (accelerators, co-working spaces…).