West Africa is becoming a hotbed of dynamic startups, playing an increasingly important role in the regional economy. These innovative companies are attracting the attention of foreign powers such as France, Morocco, the United States, China and Russia, which seek to strengthen their influence in the region through strategic investments.
The emergence of startups in West Africa
West Africa is experiencing an entrepreneurial boom, with startups transforming key sectors from fintech to agritech. Hubs such as Abidjan and Lagos are emerging, supporting innovation through incubators and accelerators like the MEST Africa Challengewhich attract international venture capital funds.
In financial technologies (fintech), companies like Flutterwave in Nigeria facilitate online payments, allowing businesses and individuals to transact seamlessly and securely. Jumiaalthough primarily known for its e-commerce activities, also integrates innovative payment solutions to strengthen the regional digital ecosystem. In Senegal, Wave revolutionizes mobile financial services by offering more accessible options, particularly for unbanked populations, thus contributing to financial inclusion. These startups perfectly illustrate the profound transformation of the financial services landscape and open up new perspectives for the continent’s digital economy.
Agritech is a strategic sector for West Africa, where agriculture represents more than 30% of GDP. The region has historically low agricultural yields and faces rapid population growth. Agricultural entrepreneurship is therefore capable of providing innovative solutions to improve efficiency, reduce costs and strengthen the region’s food sovereignty. Companies like AgroCenta et Farmerline in Ghana illustrate this transformation. AgroCenta improves the supply chain by directly connecting smallholder producers with buyers, thereby reducing post-harvest losses and increasing farmers’ income. Farmerline uses mobile technologies to provide essential information, such as weather forecasts and practical advice, to optimize yields and improve productivity.
In this dynamic market, global and regional powers, such as the United States, China, France and Morocco, are forging strategic partnerships with local governments and local private actors. These nations see it as a lever to strengthen their economic and geopolitical influence. Through these investments, they support local innovation while integrating African markets into global value chains.
The influence game of foreign powers
West African start-ups find themselves at the heart of intense geopolitical competition, where each foreign actor adopts a specific strategy to increase its influence in key sectors such as technology, infrastructure and energy. This dynamic shapes local ecosystems and profoundly transforms the African entrepreneurial landscape.
Morocco positions itself as a key player, capitalizing on its strategic geographic position and its role as a bridge between Europe and Africa. Through initiatives such as the Mohammed VI Fund for Investment, the country is injecting millions of euros into the technology, health and agriculture sectors. For example, the Digital Morocco Fund has invested nearly 25 million euros in around twenty startups, making Morocco a regional hub for technologies.
France, for its part, continues to rely on its historical links with French-speaking Africa. Initiatives such as Digital Africasupported by the French Development Agency (AFD), aim to support African startups in various fields such as health and education. French companies such asOrange et TotalEnergies support young African businesses by investing heavily in digital infrastructure and promoting innovation in the field of renewable energy.
The United States is primarily focusing on strategic technology and infrastructure sectors to strengthen its influence in West Africa. American investments are often directed towards financial technologies (fintechs), supported by programs like those of USAID and by companies like Mastercardwho invested in fintechs African countries to improve financial inclusion.
China is adopting a targeted strategy by investing in the ecosystem surrounding startups, rather than in them directly, which creates a worrying dependency. Chinese giants ZTE et Huawei are developing all telecommunications and 4G infrastructures in Ivory Coast. This situation imposes a foreign monopoly, making Yamoussoukro vulnerable to the rules dictated by Beijing.
Although less visible than other players on the economic scene, Russia is gradually getting involved in West Africa, mainly in the field of renewable energies. A major example is the Sanankoroba solar power plant project in Mali, in collaboration with the Russian company Nova windbranches of Rosatom. This project, with a capacity of 200 megawatts, represents an investment of 120 billion CFA francs and will provide electricity to more than 350,000 homes by 2025. This initiative underlines Russia’s growing interest in the regional ecosystem, while offering an alternative to Western and Chinese models.
Future theater of economic war?
West African startups are becoming strategic tools for foreign powers. Investments, whether from China, the United States or Europe, offer prospects for growth and jobs, but also reveal a worrying risk of economic dependence.
Without a strategic vision, States risk becoming pawns on the global stage. To preserve their sovereignty, it is essential that regional decision-makers see these startups as engines of innovation, and not as capital flows. Otherwise, West Africa could see its economic future dictated by external interests, compromising any possibility of lasting emancipation.
Oscar Lafay
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