“With South Africa’s current unemployment challenge, the Allan Gray Orbis Foundation believes the study was important so as to understand the tech entrepreneurial ecosystem in Cape Town which has a great potential to accelerate meaningful jobs creation,” comments Karen Gabriels, head of finance and operations at the Allan Gray Orbis Foundation.
“As an integral catalyst for the ecosystem’s growth, we are hearing a similar challenge across African tech sectors – sourcing specialised talent for digital teams is seriously limiting business growth. The report was great validation that the CapaCiTi Tech Skills and Job-readiness programmes we drive are completely market relevant to assist entrepreneurs, corporates and governments to understand and better solve their talent constraints to growth,” commented Ian Merrington, CEO of the Cape Innovation and Technology Initiative (CiTi).
Findings also revealed that of the more than 500 entrepreneurial companies in the tech sector, 20% are working in e-commerce and SaaS sectors, with 15% working in fintech.
“The dynamism, productivity and high-impact companies of Cape Town’s tech sector make it stand out as one of the most successful models in sub-Saharan Africa. It has generated the continent’s most highly valued tech company as well as other software businesses that have reached scale, exited for significant sums, or grown to become leading businesses on the continent,” commented Rhett Morris, director of Endeavor Insight, which has similarly conducted research in tech hubs globally as part of the Global Entrepreneurship Research Network’s initiative to map entrepreneur communities.
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