Africa is a continent with vast untapped potential for entrepreneurs and investors. With its booming entrepreneurial and investment opportunities, there is a lot of room for growth, and Matteo Rizzi, an entrepreneur, investor, and fintech expert, has seen it all. He has worked with entrepreneurs in over 15 African countries to promote the success rate of entrepreneurship in Africa and has learned valuable lessons along the way.

Matteo believes that small businesses are the saviours of the continent, and more focus should be on businesses across all African countries.

“To help entrepreneurs be investor ready, they should ensure they have the building blocks of a basic pitch presentation, articulate their idea assertively, and do their homework when preparing to face an investor. The more an entrepreneur knows about their business, the more the investor will be interested in investing in it.”

As an entrepreneur himself, Matteo also has some advice for entrepreneurs.

“Firstly, entrepreneurs should not believe too much in their bullshit, and instead, they should ensure their development plan is grounded and realistic, especially if they need capital. Entrepreneurs should also find a strong co-founding team to work with, as being an entrepreneur can be challenging and requires a team to support each other through tough times. Lastly, they need to do their homework and research before raising capital, as a lot of work is involved in pitching to investors.”

The future of entrepreneurship in Africa looks promising, according to Matteo. He predicts that the creators’ economy will generate hundreds of millions of jobs between now and 2030. This is the economy of digital creators where many fintech trends will support this ecosystem. Additionally, there will be a lot of micro-enterprises that will not be tech startups looking for VC, but rather small builders of the economy employing small teams. Their priority is to make a living and an impact.

For investors and funders looking to invest in Africa, Matteo has some advice.

• You can only invest in Africa if you have spent time in Africa.
• It would be best to have a strong partner who can follow the entrepreneur on their daily journey, as the ecosystem is fast-changing and uncertain.
• Unless you have deep pockets, always share the risk and co-invest with other investors.
• Before investing, look for opportunities where you can be an advisor or board member to get a good idea of businesses in Africa and figure out where to start.

In conclusion, Africa has vast potential for entrepreneurship and investment. With its booming entrepreneurial and investment opportunities, there is a lot of room for growth, and Matteo Rizzi’s advice to entrepreneurs and investors alike can be invaluable in navigating the African business landscape.

As more investors and entrepreneurs tap into the continent’s potential, there is no doubt that Africa will be a significant player in the global economy in the coming years. For GrowthAfrica, our commitment is to continue working with African entrepreneurs to scale their success rate to support the continent’s socioeconomic development. Join the 2023 GrowthAfrica Acceleration Programme, and let’s work on the best growth plan for your business. Application link – https://bit.ly/2023GrowthAfricaAcceleratorApplicationForm 

You can also sign up for the upcoming Inclusive Fintech Forum in Kigali from 20th – 22nd June 2023. The inaugural forum is the global platform for financial inclusion and fintech for good. Learn more and register to attend here – https://www.inclusivefintechforum.com/

Meet Matteo Rizzi

Matteo Rizzi is an unconventional entrepreneur with two decades of experience in Financial Services, constantly referred amongst the top executives in the industry. He spent 13 years at SWIFT – where he co-founded Innotribe, the innovation arm of the cooperative, launching the first global startup challenge. Since 2013, he has a FinTech Investor and/or Venture Partner role with global VCs and CVCs (20+ deals, 5 exits). In 2015, he co-founded FinTechStage (now FTSGroup.eu) – a platform for Investors and Innovators to boost FinTech innovation globally. In 2019, Matteo founded Timepledge.org a global initiative to foster financial inclusion and entrepreneurship. The same year he launched Breaking Banks Europe (as the Executive Producer). He is the author of “The FinTech Revolution” and “Talents & Rebels” and is fluent in 5 languages.