PanAfrican Capital Holdings (PAC Holdings) has set up a venture capital project, to be known as The Catalyst, in a bid to identify and invest in growth to product-expansion stage companies. This is in line with its commitment to deliver exceptional services in chosen markets and create value for stakeholders.
As a proprietary investment company, PAC Holdings acknowledges the vital role of technology in driving economic growth in Africa.
According to the Venture Capital in Africa Report, 90% of all reported VC deals between 2014 and 2020 were in technology-enabled companies operating across a variety of sectors. Financials accounted for the largest share of VC deals by both volume (22%) and value (26%) from 2014 – 2020, with Information Technology (18%) and Consumer Discretionary (16%) accounting for the second and third largest share of VC deals by volume within the same timeframe. This trend is expected to continue with more opportunities for technology solutions arising post COVID-19.
Speaking on the newly launched catalyst venture, Toluwalope Oni, Global Coordinator of The Catalyst said, “The Catalyst Project has been set up to facilitate and finance the delivery of technology enabled solutions, as well as promote African entrepreneurship. Our industries of primary focus are pivotal gears of a digital African economy, and these include finance, education, health, agriculture and logistic.”
Some of the objectives for the initiative include driving a culture of innovation and contributing to the delivery of future based market value across Africa.
The identified sectors, given current macro-economic realities, represent the key underlying catalyst for Sustainable Economic Growth in emerging and frontier economies. Selected businesses that become successful would benefit from PAC Holdings access to an ecosystem of strategic investors and mentors, and enjoy product/service synergies.