Kenyan youths in the innovation startups space have been urged to capitalize on partnerships with key stakeholders which will enable them turn their ideas into viable business ventures.
Secretary, ICT – Security and Audit Control at the State Department of ICT and Digital Economy Emmanuel Kata Kimeu said that the youth play a key role in driving the country’s economic growth and the government’s digitalization agenda.
Speaking in Nairobi when Latitude59 held an event to celebrate the local technology ecosystem and connect startup communities around the world, Kimeu expressed appreciation to the Estonia delegation noting that events like this inspire and equip the youth with the tools and networks needed to transform their innovative ideas into impactful enterprises.
“This event being held in Nairobi reinforces Kenya’s position as one of the most preferred destinations by startups globally. We appreciate Lattitude59 whose aim is to support the growth, impact and global recognition of the local startup ecosystem and business,” said Kimeu.
Kimeu explained that Latitude59, Estonia’s flagship start-up and tech event held in Nairobi was the second satellite edition.
“The Inaugural event last year attracted nearly 800 participants and this year we expect to welcome over 2,000 technology and start-up enthusiasts from across the globe. This gathering serves as a bridge between Estonia and Kenya’s startup ecosystem fostering collaboration and exchange of ideas. Kenya’s dynamic and youth led tech community presents unique perspectives and solutions that can enrich the global tech landscape,” he highlighted.
Latitude59 provides a platform for not only African but also international founders to find connections that are valuable to them. With that, they have an opportunity to discuss different innovations they have created, forge partnerships and build on already international relations.
During a media engagement on the sidelines of the workshop, CEO Latitude59 Liisi Org called on all start-ups to ensure they prioritize sustainability in their business and more so, to ensure they position themselves positively in the eyes of prospective investors, by having established markets.
“We have met some really incredible wonderful people from the community and we really feel that we can call them friends now and Nairobi actually feels like home,” Org said.
She said that Latitude59 chose Kenya because the country has a lot of potential to become the next startup hub in the world and they aim to support growth, impact and global recognition of the local startup ecosystem and business environment.
Org explained that to date, African startups have raised $1.7billion compared to $2.9billion in 2023 and $4.6billion in 2022 adding that consolidation companies have also teamed up to survive and others got acquired.
“Kenya has over 55 million people, Africa overall has 1.5 billion people and these populations present really complex problems. To have solutions to the problems one needs to understand different perspectives, different societies, and how they operate. Start-ups should try to find clients or paid customers, and by doing so investors will be ready to put more money into their innovations which will enable them to hire more people and scale up,” added Org.
Panuka Agribiz Hub, a trailblazing agribusiness company based in Zambia and operating across Africa, also made remarkable progress in improving financial access for smallholder and emerging farmers in Kenya.
During the Latitude 59 event in Nairobi, the enterprise showcased its commitment to overcoming the longstanding financial challenges faced by farmers often deemed un-bankable by traditional financial institutions.
Speaking at the ASK Dome in Nairobi, CEO and Founder Panuka Agribiz Hub, Bruno Mweemba, highlighted the significance of relatable and accessible financial education.
“We are here to introduce the platform and seek funding to enhance our services and develop additional financial tools that complement the Agri edtech platform,” he explained.
With 23 years of experience as a chartered accountant and a farmer himself, Mweemba told the press that his experience means he uniquely understands the challenges farmers face, and unlike many financial literacy programs created by non-farmers, Panuka Agribiz Hub’s platform is multilingual and avoids technical jargon, making it practical and user-friendly for agricultural communities.
Overall, Latitude 59’s goal is to create a platform where African start-ups like Panuka Agribiz Hub can find valuable connections, discuss innovation and overcome obstacles with the support of the global community.
By Gift Maina and Patience Mabonga