The challenge of attracting venture capital and fostering a supportive ecosystem for AI start-ups will be under the spotlight at the ITWeb AI Summit 2026 in a panel discussion on 22 April at The Forum in Bryanston.
Finely Chikwira, co-founder of online industry content and advisory service Mentormate, will join Nkosinathi Temba, CEO and co-founder of Thuto.io, an academic engagement and rewards platform, to drive the conversation.
Speaking to ITWeb ahead of his participation in the panel, Chikwira made it clear that SA must direct its own AI investment journey leveraging its own data resources. The objective should be to help solve real-world problems.
“Forget replicating Silicon Valley. South Africa’s AI investment goldmine lies in bespoke, scalable solutions that solve immediate regional challenges,” said Chikwira.
He urges South African organisations to stop chasing global trends and start capitalising on the country’s unique data landscape.
Doing this will unlock local market dominance and attract venture capital with real-world impact, he believes.
“My perspective is that South Africa’s AI investment opportunity lies in a more pragmatic reality. It is about building bespoke, scalable solutions that directly solve immediate regional challenges. The key takeaway for delegates is that successful innovation means stopping the chase for abstract global trends and instead capitalising on our unique local data landscape. This is how local start-ups unlock market leadership and attract venture capital driven by proven, real-world impact,” Chikwira added.
He pointed out that the scale of this investment opportunity is significant. “The South African AI market is projected to grow from approximately $809 million in 2024 to nearly $6 billion by 2033, reinforcing the relevance of this discussion within the broader national economic narrative.”
Digital sovereignty is also a significant cog in the AI wheel.
Chikwira said: “A second takeaway is that this shift is not just about efficiency, but about digital sovereignty. When AI systems are designed around local infrastructure, regulatory frameworks and socio-economic conditions, they become more resilient and commercially viable. This focus helps businesses move beyond the proof-of-concept phase and embed AI into core decision-making processes such as localised fraud detection or credit scoring, where return on investment is immediate and measurable.”
The AI Summit is an opportunity for business leaders to hear how a strong, vibrant AI ecosystem – founded on solid data infrastructure, ethical governance, skills development and cross-sector collaboration – drives sustainable and inclusive national growth.
The event will showcase how enterprises across industries are unlocking value through data-driven decision-making, automation, intelligent platforms and next-generation customer experiences.
For more information and to register, visit ITWeb AI Summit 2026.
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