When African tech gathers in Dakar: NTF V is present!

12 July 2022
ITC News

African tech innovators converged on Dakar for two major industry events

From April 25 to 29, 2022, Africa’s innovation ecosystem met in Senegal for two key industry events: the AfricArena West Africa Summit and the AVCA annual conference.

For one intense week in Dakar, the continent's most promising digital start-ups promoted their talents to a large audience of international companies and investors. Several West African start-ups attended, thanks to the support of the NTF V program. Two of them, Lengo and Survey54, said they used the opportunity to develop new networking and funding opportunities.

Lengo and Survey54: the data revolution is underway

Lengo is based in Senegal and Survey54 in Ghana. Both start-ups made the same observation: without reliable and up-to-date data on African markets, companies struggle to develop their commercial strategy. Foreign investors, however, are increasingly converging on Africa, whose economic potential is undeniable.

To meet their demand, Lengo and Survey54 specialize in market research, marketing surveys and opinion polls. Their promise? To help companies target the expectations of African consumers and better penetrate the market. In just a few months, both Lengo and Survey54 have gained the trust of large international groups. Their exponential growth and value propositions did not go unnoticed during the two major digital entrepreneurship events in Senegal in April.

Survey54 awarded best start-up in its category at the AfricArena Summit

Stephan Eyeson, CEO and co-Founder of Survey54, made his mark during his presentation at the West African summit of tech accelerator AfricArena. "I had the unexpected opportunity to pitch in front of a crowd of investors and major players of the digital economy,” he said. “By winning the award in the Seed Stage category, Survey54 immediately benefited from greater visibility. The press coverage was significant. Since then, we have prepared new partnerships and received funding offers. The NTF V project has followed us for only a few months, so it's off to a great start."

Lengo wows investors at AVCA's Venture Capital Summit  

Roger-Xavier Macia, co-founder of Lengo, also found new opportunities at the Venture Capital Summit, organized during the annual conference of the African Private Equity and Venture Capital Association (AVCA). The distinctive character of the exclusive event did not escape him.

"Such an invitation is a privilege. It offers so much credibility and recognition,” he said. “Only around 10 start-ups were allowed to meet the largest investment funds. This means facing the best minds in African Tech. Without the support of NTF V, we would never have been able to create such opportunity."

Since the summit, Lengo has held discussions with a dozen new partners and is feeling confident. Before the end of 2022, it hopes to raise up to five million euros. This is a key step in developing faster and better information technologies.

The Netherlands Trust Fund V (NTF) (July 2021 - June 2025) is based on a partnership between the Dutch Ministry of Foreign Affairs and the International Trade Centre. The programme supports small businesses in sub-Saharan Africa in the digital technology and agribusiness sectors. It aims at contributing to an inclusive and sustainable transformation of agri-food systems partly through digital solutions, improving the competitiveness of local tech start-ups internationally and supporting the implementation of IT&BPO companies’ export strategies