For one of Africa’s more affluent countries, it is surprising that Ethiopia has so far been below the radar of many venture capitalists. With a young and growing population, high unemployment, and poor tech infrastructure, it was only a matter of time before it caught someone’s attention.

Hiruy Amanuel is a well-known African venture capitalist and entrepreneur who saw the vast potential of Africa. Amanuel is the managing director of Gullít, a fund that focuses on early-stage tech startups in East Africa.

He is particularly keen on East Africa and has invested in developing the technology ecosystem in the country and in training programs to expand the sector in the near future.

“As we emerge from the Cloud Cloud The cloud or cloud computing helps provides data and applications that can be accessed from nearly any location in the world so long as a stable Internet connection exists. Categorized into three cloud services, cloud computing is segmented into Software as a Service (SaaS), Infrastructure as a Service (IaaS), and Platform as a Service (PaaS). In terms of trading, the versatility of the cloud service allows retail traders the ability to test out new trading strategies, backtest pre-existing conc The cloud or cloud computing helps provides data and applications that can be accessed from nearly any location in the world so long as a stable Internet connection exists. Categorized into three cloud services, cloud computing is segmented into Software as a Service (SaaS), Infrastructure as a Service (IaaS), and Platform as a Service (PaaS). In terms of trading, the versatility of the cloud service allows retail traders the ability to test out new trading strategies, backtest pre-existing conc Read this Term cast by the pandemic, I see Ethiopia becoming a huge success story. The country has been largely ignored by investors, but thanks to a consistent rise in GDP over the last few years, there is a lot of scope to develop a thriving technology sector there, fueled by a young skilled workforce. East Africa generally is already seeing a rapid growth thanks to tech startups, and I think that it will continue to accelerate,” Amanuel said.

As both a philanthropist and tech investor, the East African region (and the continent as a whole) are ideal for someone like Hiruy Amanuel. “I want to provide opportunities in Africa for young entrepreneurs and startups. There is so much potential here that is only beginning to be realized.”

Amanuel has already taken significant steps in establishing a more friendly and supportive tech environment, and Ethiopia was the logical place to start. “Given how positive we felt toward Ethiopia as a future tech hub, it made sense to develop a training programme there.

“So, we established Gebeya to develop courses and curricula, to train young talent. The aim is to create a workforce of highly skilled programmers, software developers and other related positions. These talents will then create a foundation for a thriving tech ecosystem,” Amanuel explains. “These programs began in Ethiopia but are already being implemented in numerous countries across Africa. Gebeya also helps to match freelance talents to organizations that want on-demand skilled staff.”

Content retrieved from: https://www.financemagnates.com/thought-leadership/african-startups-are-on-the-rise-heres-why/.