Catch Great Opportunities In Africa – Silicon Accra CEO Urges US Investors

The Director of Silicon Accra Technology City, Mr David Osei has called on American companies and investors to collaborate with Ghanaian businesses so that they do not lose big opportunities in the near future.

He hopes that Africa is developing fast and will soon become a great spot for trade and digital advancement in few years, and so it is crucial for American companies to make good use of the opportunities now.

Based on Mr Osei’s speech, Africans function well with American investors because of the huge advantages they get from partnering American companies.
Speaking in an interview via Skype on US-based CNBC, he elaborated that apart from investment, Americans are known to impart knowledge to those they work with by giving them detailed training that leaves them empowered long after a partnership has terminated.

He stressed that “Africans love Americans because when an American comes to do a partnership with you, they leave knowledge behind. They leave you with experience, they leave you with empowerment”.

He pointed out that, although Ghana has benefited from other foreign investors, it is important to note that the final effect of Americans is more enormous.
Mr Osei urged foreign investors not to be discouraged by the problems of doing business in Africa such as difficulty in getting the right partners and friendly atmosphere for business and urged them to move their tech companies to the Silicon Accra Technology City project.

Currently, Mr Osei is leading the project which is to be developed at East Legon Hills and will be home to research institutions, large companies and start-ups to provide answers to some of Africa’s digitization challenges.

 

The first phase of the project comprises of 20,000 offices to serve as a co-working space, 220 unit residential apartments and $5 million as seed money for investment for Ghanaians and African technology Small and Medium Scale Businesses.

Silicon Accra Technology City will be Africa’s technology innovation centre, instituted with the goal of advancing Africa’s economic growth. The goal is for the campus to become Africa’s global technology gateway, helping the local economy by nurturing ICT industry startups and entrepreneurs; driving partnership by pooling resources; creating business opportunities and escalating ICT adoption through strategic policies and partnerships.

The 60-acre park is already under construction. The master-planned grade A development will accommodate offices, education centres, retail complexes, residential blocks and recreation centres. The urban planning of the city is designed to house the digital, infrastructural, spatial planning and usability needs of today’s modern businesses. It will be one of the first master-planned technological business districts in Africa.

According to Mr David Osei, the vision is to make Silicon Accra Technology City a globally competitive plug and play business enclave, making it easy for local and foreign companies to set up their regional offices in Accra.

The city will not provide access to state of the art utilities like stable electricity, fibre internet connection among others but has already begun working with the Ghanaian government to structure incentives that will relieve doing business for local and foreign companies working from the park.

He stated, “The core components of the city will include; office blocks, residential blocks, retail complex, hotel and convention centre and a recreational park.
The project will enhance startups reckon the youth as the main vehicle by which Africa can take advantage of exponential technologies such as artificial intelligence, digital fabrication, digital biology to help the continent resolve some of its teething problems.

At Silicon Accra Technology City our goal is to form a global innovation environment that will empower entrepreneurs with the devices and resources to apply exponential technologies in solving some of Africa’s greatest problems in areas such as food security, financial inclusion, energy and others.

Again, Mr Osei said, “We are creating an ecosystem where early-stage startups have the best chance of building global success. Components of our ecosystem includes; the city-60 acre technology park in Accra, the fund-$25 million seed fund and the community local and global events and networking opportunities”.

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