Technology somewhat powered the world through 2021. Trapped inside, entrepreneurs on every continent strived to make life a little easier.
Libyan entrepreneur Taha Elraaid saw this firsthand, in his own company, Lamah Technologies, as well as in other local innovators. Not known for their technological innovation, Taha notes that the African continent’s contribution to this field is changing.
In a recent The Plug article, Taha shared his thoughts on how and why African entrepreneurs can change the story:
“African tech entrepreneurs are in a position of power if they have the right resources,” Taha Elraaid, founder of Lamah Technologies, a company nurturing large-scale digital transformation, told The Plug.
“We’re able to look at the rise and fall of tech giants and understand why certain technologies have failed or succeeded.”
One area that’s benefiting massively from this tech boom? Finance. Taha’s point is illustrated in stories from the continent:
Afrostar, a digital currency of Africa, has been gaining headlines as Africa's first official cryptocurrency, with plans of launching a blockchain by late 2022. The digital currency also plans to target investors worldwide; the crypto token aims to provide a range of powerful real-world use cases. The company rewards investors who have their tokens in unique deflationary tokenomics, the economics of crypto tokens or cryptocurrencies.
The blockchain platform can strengthen African financial safety as the continent’s young population and rising digital adoption coupled with the lack of any legacy monetary systems, according to a Business Insider report.
Lamah Technologies biggest project to date? Makani, a digital addressing system that has given Libya the first addressing system to date. And they’re not the only ones on the continent using technology to build basic infrastructure:
Yet another contender, Cardano uses a public blockchain platform for solutions to improve the national ID system in Ethiopia. The company plans to use blockchain in many sectors such as education, mobile technology and other areas in Ethiopia and Tunisia, according to a Crypto Mode report.
Entrepreneurs outside of Silicon Valley are becoming a force to be reckoned with. From Africa to Asia to the Americas, technology innovation is thriving.
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