Investor sentiment improved amid optimistic market forecasts, resulting in a 3.25% increase in Airtel Africa shares, which closed at £1.68 on May 12.

Foreign investors have been attracted to the telecommunications colossus due to its robust subscriber base and the expansion of data services in critical markets.

Analysts attribute the increase in shares to Airtel’s market position, which has been enhanced by strategic investments in digital infrastructure and data networks.

The company has also been investigating potential partnerships with fintech firms in order to broaden its digital payment services in regions such as Nigeria, Kenya, and Uganda.

Airtel Africa remains optimistic about growth, despite the ongoing economic challenges, and is focused on expanding its 4G and 5G networks to accommodate the continent’s expanding mobile user base.

The company is also preparing to introduce new digital platforms that are designed to improve the consumer experience and increase the monetization of data.

African investors are advocating for the influx of local capital to stimulate the growth of the technology ecosystem.
The significance of local capital in the financing of Africa’s tech ecosystem is being underscored by prominent African investors, such as Axel Peyriere and Biola Alabi.

They contended at a recent investment forum that relying exclusively on foreign investment could impede local innovation and restrict development.

The appeal for local investment is in response to the increasing number of African tech businesses, particularly in sectors such as fintech, healthtech, and agritech.

Alabi emphasized that local capital can offer more precise funding, thereby guaranteeing that companies are in accordance with the socio-economic realities and market demands of the local area.

Peyriere, a seasoned investor, observed that Africa’s technology sector has been substantially financed by international investors; however, sustainable development necessitates local funding sources.

He emphasized that the cultivation of an investment culture among African entrepreneurs would not only stimulate the growth of technology businesses but also generate long-term riches throughout the continent.

Investors and entrepreneurs are currently advocating for governments and financial institutions to establish policies that promote local investments, thereby facilitating the process of African businesses obtaining capital and expanding their operations without relying exclusively on foreign funding.