Date: June 30, 2022
India and Africa share rich economic, political and socio-cultural relations. These efforts are reflected in strategic initiatives such as ‘Focus Africa’ (2002), the India-Africa Forum Summit (2008), Asia-Africa Growth Corridor (2017), and CECPA (2021) undertaken by both governments. Today, India is Africa’s third-largest trading partner.
Another interesting factor in India-Africa relations that is grabbing global attention is their startup stories. India is the world’s third-largest startup ecosystem and is home to more than 65,861 recognised startups. Industry leaders believe that Africa is at the dawn of the startup revolution. This could be very well true given that African startups raised record-smashing USD 4.3-5 billion in 2021. Both India and Africa are now taking giant mutual strides towards leveraging their respective startup growth.
Realizing this immense potential, India Africa Entrepreneurship Forum (IAEF) is conducting the 2nd edition of ‘India-Africa Entrepreneurship and Investment Summit’. It will be held on 1st and 2nd July, 2022 at Sarova Panafric Hotel in Nairobi. This event will bring together well-renowned entrepreneurs, investors and industry leaders from India and Africa. The eminent speakers will discuss the opportunities and challenges that Indian startup stakeholders face in investing in Africa. The summit will also pave way for global investors in the African entrepreneurial ecosystem to expand their portfolios in India. It will also foster the exchange of ideas and offer networking opportunities of mutual interest.
One of the growth partners associated with IAEF for this summit is Velogic, a renowned logistic business company and operating as GCS Velogic in East Africa. Velogic forms part of the Rogers Group which since its establishment 125 years ago has constantly pursued the creation of new value in the logistics field. As a one stop shop, Velogic provides supply chain services such as freight forwarding, domestic transport, warehousing, container services, express courier, stevedoring and removals. Its leadership position has been built through new developments, successive acquisitions and consolidation. It also offers special solutions such as freeport services, project cargo and special sugar packing. With 50+ years of experience in the logistics industry, it has 30,000 m2 of storage and transit facilities worldwide. It has 35 offices spread across major cities in India, France, Mauritius, Madagascar, Kenya and Reunion Island to deliver operational excellence and tailor-made supply chain solutions.
This summit will lay a solid foundation for joint ventures and business partnerships between India and Africa. India can look forward to easy access and policy support to invest in Africa while Africa can seek an entry point in India to boost its startup growth.