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“Unlocking Angola’s Entrepreneurial Potential: Insights from the #MeetTheToshikas Program”

3 out of 3! 🛬 Angola may be enigmatic to those who aren’t used to venturing outside of Anglo- or Franco-Africa, but its economy is full of potential.

We just completed the final field trip as part of the selection process of UNDP’s #MeetTheToshikas program which was punctuated by an ecosystem event organized by the UNDP Sustainable Finance Hub and UNDP Angola. In addition to inspiring founders, the Angolan ecosystem shows promise as the oil-based economy is being called to diversify. One of the challenges is to ensure that it uses wisely its assets such as its sovereign wealth fund and stock exchange, as well as recognizes its startup ecosystem as a key lever to activate its national strategy. A startup act appears to be well on its way and may come into force by the end of Q2 this year.

In the meantime, despite country-specific fx and capital controls (which makes investments different but not impossible), we were amazed by founders still being able to bootstrap and grow businesses to profitability without the same inflows of international angel and early-stage #vc capital.

(As special thanks to Yannick Gayama, Albert Mbithi, Sachiko Hara, Rena Yoneyama, Kumiko TAKEKOSHI, Olivia Gao, Tomas Sales, Jesus Kiteque, Judite Toloko da Silva, Martina Cristiane Silva, José Carlos F. dos Santos, Eduardo Sette Camara, Luimar Silva).

It’s been an inspiring trip and we thank our partners at Acelera Angola for being amazing hosts, showing us around, and supporting our founders!

#UNDP #MeetTheToshikas #startups #japan#angola #africatech #venturecapital