The 4th India-Africa Entrepreneurship and Investment Summit held on July 18th-19th, 2024, concluded successfully, affirming its role in fostering meaningful collaboration between India and Africa. Hosted by the India-Africa Business Network (IABN), this event brought together an exceptional lineup of entrepreneurs, thought leaders, policymakers and investors from both the private and public sectors to explore cross-continental entrepreneurship and investment opportunities.
The summit kicked off at the University of Mauritius on 18th July, focused on the current state of early-stage funding in Africa and Mauritius and strategies for internationalising the Mauritian startup. Key insights included the need for Mauritius to overcome barriers to attract funding and leverage its position as a gateway between Africa and India. Discussions highlighted the success of strategies such as utilising accelerators and angel investors, improving ecosystem collaboration, and enhancing visibility and integration to make Mauritius a more attractive hub for international startups.
The summit continued at the Intercontinental Hotel, Balaclava, with key figures and influential voices from both regions speaking:
● Mr Tomi Davies, Managing Director of the African Business Angels Network (ABAN), delivered the opening address, setting the tone for the summit with his emphasis on bridging the gap between India and Africa and harnessing entrepreneurial spirit.
● Mr. Suresh Prabhu, former minister of railways, civil aviation, and commerce and industry for the government of India, underscored the significance of education in development. He highlighted India’s commitment to supporting educational initiatives in Africa and emphasised the role of business partnerships and investments in fostering mutual growth.
● Mr Admassu Tadesse, President and Managing Director of the Trade and Development Bank, presented a thorough overview of Africa’s economic resilience. Tadesse discussed the continent’s progress amidst high interest rates and inflation, highlighting significant infrastructure developments and investment opportunities in mining and agriculture.
● Mr. Ken Poonoosamy, CEO of the Economic Development Board Mauritius, elaborated on the strengthening economic ties between Mauritius, India, and Africa. He further discussed the Comprehensive Economic Cooperation and Partnership Agreement (CECPA) signed by Mauritius and India and its impact on trade relations, forecasting continued growth in economic cooperation.
● Mr Sushil Jiwarajka, Chairman of Artheon Group of Companies, provided a compelling analysis of global shifts in 2024. Mr Sushil highlighted the dramatic changes in global politics and the transformative potential of artificial intelligence (AI), stressing the need for responsible AI development to address both opportunities and risks.
● Mr Prem Anand Velumani, Associate Director of Zoho, shared a detailed account of Zoho’s growth journey. He emphasised the company’s commitment to
decentralisation and the empowerment of local talent, showcasing Zoho’s success in integrating talent from tier-two and tier-three towns in India.
The 5th edition of the summit is scheduled for July 17th-18th, 2025 and promises to continue the momentum and drive further collaboration between India and Africa.
