08/02/2022
Unicorns Vs Impact: do Unicorns really have their place?
Social media is flowing with the latest infographics and data on Africa’s emerging number of unicorns, along with the growing number of Western funds coming in to invest in the continent’s new gold. For some, unicorn status is a testimony to how well our ecosystems are doing and how successful African ventures are. It is the ultimate symbol of growth. But what growth and for whom?
Is it time for us to have honest and open discussions on unicorns versus impact – on huge financial returns versus societal impact? Whether they can be combined or that they are two different animals? Many investors communicate an aspiration for their desired unicorn investments to be impactful but do this match the reality? Perhaps “real” unicorns are imaginary, magic investment that combines huge returns with impact – hence they are yet to be seen.
There is powerful magic in the narrative of unicorns; hence we increasingly see the headlines of money being raised for funds in the name of building impactful African tech unicorns. What is that impact - and impactful for whom? Is it a real impact or imaginary? Is it jobs, social change, or what is that unicorn impact? The days ought to be over where “financial inclusion” can be tagged on any and every fintech, making it impactful. What impact have Africa’s unicorns created?
If unicorns cannot deliver impact directly, they can perhaps reward their African founders financially and allow them to invest in the next generations of start-ups. Read more
http://www.evolve.cm/2022/02/08/unicorns-vs-impact-do-unicorns-really-have-their-place/
by admin February 8, 2022 Capital, Evolve Magazine & Newspaper, Innovation, Investors, Start-up News Over the past weeks, several Africa-centric “Funding Reports” have been released detailing the activity of continental investors in 2021 and early 2022. While fundraising totals may differ, al...
