African investors often champion the need for more local capital on the continent. Their argument is straightforward: local investors have on-the-ground knowledge and are better positioned to navigate local challenges than foreign investors operating from afar. It’s this belief that inspired Benue Capital, an early-stage, sector-agnostic VC firm investing in East African startups, to organise a summit educating Ugandan high-net-worth individuals on the value of Africa’s tech ecosystem. Benue Capital is also the first VC firm with Ugandan partners and LPs. “We believe that true ecosystem ownership starts with local investment. While international capital can accelerate growth, it often lacks a deep understanding of local dynamics and on-the-ground realities,” Marge Ntambi, venture partner at Benue Capital, told TechCabal. “Local high-net-worth individuals, on the other hand, bring not only capital but also strong local networks, business experience, and a real stake in the success of the ecosystem. When they invest, they’re investing in their communities, their economy, and their legacy,” she added. But convincing wealthy Africans to shift from familiar investments like real estate
