Technology leaders across Africa have called on startups and digital businesses to strengthen their resilience, pursue sustainable growth and attract more local investment as access to venture capital becomes increasingly challenging.
The call was made at the Moonshot 2026 conference in Lagos, where executives, investors and policymakers discussed the challenges facing Africa’s technology sector and the need to build businesses capable of surviving economic uncertainty.
The conference, organised by TechCabal under the theme “Courage and Conviction”, brought together stakeholders to examine funding constraints, business sustainability, technology development and the role of local capital in supporting African innovation.
Dotun Adekunle, chief operating officer and chief technology officer of OPay, emphasised that resilience was essential for technology companies operating in markets affected by currency fluctuations, regulatory changes and economic uncertainty. He argued that businesses needed to prepare for difficult conditions rather than depend on favourable market circumstances.
Adekunle also highlighted the importance of agency banking networks in supporting financial inclusion, particularly during periods of cash shortages. His remarks underscored the need for technology companies to understand the role their services play in the wider economy and to build systems that can withstand operational disruptions.
The funding environment was another major concern at the conference. TechCabal chief executive Tomiwa Aladekomo cited figures showing that African startups raised approximately $2.2 billion across 275 deals between January and August 2026. Although this represented a modest increase compared with the same period in the previous year, the availability and cost of investment remained significant concerns for founders seeking to expand their businesses.
Speakers urged startups to focus on sustainable business models, clearer paths to profitability and stronger operational planning. The discussions suggested that companies could not rely solely on repeated fundraising rounds to finance their growth, particularly when investors were becoming more selective about where they committed their money.
The conference also highlighted the importance of developing local sources of investment. Greater participation by African investors, pension funds and corporate institutions could help technology companies access capital that better reflects the continent’s economic conditions and long-term development priorities.
Nigeria’s National Information Technology Development Agency also highlighted efforts to support local innovation. At the conference, the agency announced a Builders Festival investment pipeline worth ₦3 billion, intended to connect organisations with problems to solve, local startups and potential investors.
Participants also stressed the importance of developing homegrown technology rather than relying exclusively on imported products. Stronger local research, intellectual property and technical capacity could help African businesses address challenges specific to their communities while creating opportunities to compete in international markets.
Artificial intelligence featured prominently in discussions about the future of the continent’s digital economy. Speakers warned that AI adoption should focus on measurable benefits for people and businesses, including improvements in healthcare, education and agricultural productivity. They also highlighted the risk that poorly planned deployment could deepen existing inequalities.
The conference reinforced the view that Africa’s technology sector needs more than investment alone to achieve sustainable growth. Access to capital must be supported by effective leadership, reliable infrastructure, sound business planning and technology designed around genuine local needs.
As investors become more selective, startups will face increasing pressure to demonstrate financial discipline and the practical value of their products. For African technology businesses, the challenge will be to maintain innovation and expansion while building stronger foundations for long-term survival.
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