The IT sector in Cape Town more than doubles that of Lagos, Nairobi combined

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A new report has shown that Greater Cape Town, including Stellenbosch, employs more than double the combined number of people between Lagos and Nairobi – with 450 to 550 companies employing between 40,000 and 50,000 people in the city. [19659006EncomparaisonlessecteurstechnologiquesdeLagosetdeNairobiemploientrespectivement9000et7000personnestandisque3%desentreprisesprometteusesduCapontatteintl'échelle(plusde100employés)comparableà1%et2%àNairobi9659006] The report, commissioned by the Cape Town Innovation and Technology Initiative (CiTi), Wesgro, and the Allan Gray Orbis Foundation – with the support of the Western Cape Government, was launched today (31 July) at the Barn Bandwidth in Woodstock. 19659006] In addition, the report reveals that the founders of small scale technology companies (those with more than 100 employees) continue to be interested in the ecosystem, with 30% of founding-founding mentors being drawn from these firms compared to only 12% Lagos and four percent in Nairobi

entitled Evaluation and Network Analysis of the Cape Town-Stellenbosch Technology Sector, The report is based on interviews conducted by Endeavor Insight with 150 local technology entrepreneurs and research in more than 450 local technology founders and their companies in the Cape Town and Stellenbosch area

The study found that Cape Town technology companies employ between 40,000 and 50,000 people

Western Cape Min Alan Winde said that Cape Town has made a name as a technological city through hard work and innovation. n of its technology entrepreneurs, and investments by major international technology companies.

"It is because of this, and a favorable environment created in the Western Cape, that the sector is responsible for supporting 40,000 to 50,000 jobs.

" Feed this sector and develop a Broad base of skills to be able to support this market is more important than ever before. The results revealed that of Cape Town's more than 500 technology companies, 20% work in the e-commerce and software as a service (SaaS) sectors, with 15 companies. % working in Fintech.

Putting Cape on the map is the giant of the Internet Naspers, celebrated as Africa's most prized technology company. Following this Clickatell, BrandsEye and GetSmarter have been recognized as Cape Town technology companies with a strong global presence.

The report found that the top five reasons for starting a technology business in Cape Town are:

• The perception of Cape Town as a technology center
• A vibrant community of local technology companies for start-up support
• A competitive lifestyle on a global scale that promotes innovation.
• Strong Universities "

Although the Cape Town technology sector has shown tremendous growth, dynamism and innovation over the past decade, companies interviewees identified challenges.

– a problem also encountered in Johannesburg and in other African cities. Second, access to equity and finance, although Cape Town has performed better than Nairobi and Lagos in this regard. Finally, access to customers has been noted as a problem faced by these entrepreneurs.

Tim Harris, CEO of Wesgro, commented that the report shows that Cape Town is the technological capital of Africa – a place of innovation and the future. It also shows us that we can do even more to realize its full potential and become one of the most technological destinations in the world. The technology sector will be a key driver of economic growth and job creation over the next 10 years, and we look forward to seeing this ecosystem thrive, "said Harris

. Investment in Cape Town's technology sector over the past five years.We look forward to growing this total investment even more, "adds Harris.

The Cape Endeavor Insight report is available for download on www.citi.org.za and an interactive map of the network will be published by Endeavor Insight on August 12.

Featured Image (from left to right): Jo-Ann Johnston, Deputy Director General of Economic Development West Cape, Karen Gabriels of Allan Gray Orbis, Ian Merrington, CEO of CiTi, Maha Abdelazim of Endeavor Insight, Tim Harris, CEO of Wesgro, Head of Innovation CiTi Michelle Matthews, Director of Endeavor Insigh t Rhett Morris (provided)