- AfricaCom and Africa Tech Festival 2024, held at the CTICC, attracted over 15,000 tech leaders, investors, and innovators, spotlighting technology’s role in economic growth and solving global challenges.
- Cape Town and the Western Cape is positioned as Africa’s leading tech hub, home to over 450 tech firms and 40,000 skilled professionals, driving innovation and economic development.
- The festival spurred significant economic benefits for the region, boosting sectors like tourism, retail, and professional services, while strengthening its position as a key destination for tech innovation and investment.
Cape Town, 27 November 2024: Technology innovation and its potential to transform Africa’s diverse sectors took centre stage at AfricaCom and Africa Tech Festival 2024, the continent’s premier event for technology, telecoms, and digital infrastructure. Held in early November at the Cape Town International Convention Centre (CTICC), the festival’s 27th edition drew over 15,000 global tech leaders, innovators, and investors, spotlighting the transformative role of technology in driving economic growth and addressing some of the world’s most pressing challenges.
Wesgro, the official tourism, trade, and investment promotion agency for Cape Town and the Western Cape, partnered with the City of Cape Town to showcase the region’s thriving technology ecosystem. The festival reinforced the region’s position as Africa’s Tech Capital and provided a platform for local innovators to connect with global stakeholders.
Cape Town and the Western Cape is firmly established as the continent’s leading technology hub. The Cape Town-Stellenbosch tech corridor is home to over 450 tech firms, employing more than 40,000 professionals and contributing significantly to the regional economy. In addition, the region is home to incubators, accelerators, training providers and funders of Tech companies, which enables the growth of the ecosystem.
Wrenelle Stander, CEO of Wesgro, highlighted the region’s innovation landscape: "Cape Town and the Western Cape is renowned for its impressive concentration of tech talent and entrepreneurial spirit. This dynamic ecosystem not only drives technological advancement but also bolsters economic growth and positions our region as a leader on the global stage. Wesgro remains committed to supporting and promoting this vibrant sector, which plays a critical role in shaping Africa’s future."
Building a Strong Foundation
The region’s tech success is rooted in a robust start-up culture, a flourishing venture capital market, and a wealth of globally competitive talent. These strengths, coupled with world-class infrastructure, a supportive regulatory framework, and access to international markets, have made Cape Town a magnet for both local and foreign investment.
Alderman James Vos, Mayoral Committee Member for Economic Growth, spoke to the city’s commitment to enabling business growth: "Cape Town is not only a hub of innovation but also a city that actively supports businesses looking to thrive in the tech sector. Through strategic initiatives and partnerships, the City of Cape Town provides an enabling environment for start-ups and established companies alike. We are committed to cutting red tape, streamlining processes, and offering a range of incentives to ensure that businesses find it easier to set up and scale here. Our tech ecosystem, bolstered by over 450 firms, stands as a beacon for investment and collaboration, reaffirming Cape Town’s position as Africa's Tech Capital."
Events like the Africa Tech Festival play a pivotal role in advancing the tech sector while delivering economic benefits to the region. These gatherings attract global thought leaders, investors, and innovators, fostering collaboration and spurring growth across industries.
Dr. Ivan Meyer, Western Cape Minister of Agriculture, Economic Development, and Tourism, highlighted the event’s economic ripple effect. "Hosting major events like Africa Tech Festival brings significant economic benefits to Cape Town and the Western Cape. These events not only boost our hospitality and tourism sectors but also create opportunities for local businesses, drive job creation, and enhance global investment in our region. The ripple effect extends across industries, from transport and accommodation to retail and professional services, reinforcing our reputation as a world-class destination for business and innovation. By attracting thought leaders, investors, and innovators, such events further position the Western Cape as a hub for economic growth and development," Meyer said.
James Williams of Informa, the event organisers, added: “These events are essential platforms for fostering innovation and investment, bringing together global leaders, entrepreneurs, and investors to exchange ideas, showcase cutting-edge solutions, and explore growth opportunities. For regions like Cape Town and the Western Cape, they not only highlight the strength of the local tech ecosystem but also position us as a premier destination for technology and innovation in Africa. Such gatherings inspire partnerships that drive progress and create a positive ripple effect across industries and communities."
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