- Jack Ma, Asia's richest man and Founder of Alibaba Group is in East Africa.
- 38 fellow billionaires accompanied Ma, who is also a UN special adviser on youth entrepreneurship.
East Africa has become an attractive investment destination in recent years, owing to its improved business environment.
According to Ernst & Young's 2016 Africa attractiveness program, east African countries recorded
the highest share of Foreign Direct Investment in Africa, achieving 26.3 percent of total projects.
Governments across the region have continued to build structures ready for every investment opportunity. The most important structures have been built in countries like Kenya and Rwanda, where the government has shown great support for innovation and entrepreneurship.
Mobile payment platforms M-pesa
are all successful stories highlighting Kenyan innovation, which has been fostered by incubation spaces such as iHub
and supported by companies like IBM
, operations in Nairobi.
Similar structures are present in Rwanda, where a new business can be registered in just six hours. K-Lab
, Think by Tigo
and The Office
are well known in Rwanda for nurturing several startups in the country, including mobile technologies company Hehe