Since 2010, the software venture landscape in Africa has experienced significant growth, with over 7,000 ventures operating in various sectors. Among these ventures, a number of African-based companies have achieved unicorn status, with 12 of them having valuations exceeding $1 billion. Notable examples include Interswitch, Jumia, Andela, and more.
In the past two decades, software has transformed the daily lives of Ghanaians through platforms like Twitter, WhatsApp, utility apps, mobile money, logistics apps, ride-hailing apps, and e-commerce platforms. These digital solutions have improved the quality of life for both individuals and SMEs, creating jobs, business opportunities, and stimulating entrepreneurship.
This research aims to explore what software ventures in Ghana need to achieve scalability and how they can be supported in their growth. Scale represents an opportunity for Ghanaian ventures to expand and deepen the impact of their businesses, creating a broader socio-economic impact through wealth and job creation. However this is still nascent among software ventures in Ghana. By understanding these factors, stakeholders can provide the necessary resources and assistance to empower Ghanaian software ventures to thrive.
