Why Africa’s Big Corporates Must Embrace Startups or Risk Extinction, Says GB Ventures’ Nada Shaheen

Nada Shaheen, the trailblazing managing director of GB Ventures, is sounding the alarm for African corporations: partner with startups or face obsolescence. As the corporate venture capital (CVC) arm of Egypt’s 26th largest public company, GB Corp, her firm is setting a bold example by injecting at least $500,000 into early-stage Egyptian startups, with potential follow-on rounds reaching $5 million, to drive innovation and agility in a fast-evolving market.

Unlike the global scene, where CVCs account for 36% of venture capital deal value, Africa’s corporate giants have largely shied away from startup ecosystems, sticking to core operations. Shaheen argues this is a fatal misstep. “Corporates that don’t align with startups’ innovation, agility, and scalability will die soon,” she warned, emphasizing that technology’s rapid pace leaves no room for complacency. GB Ventures, defying the trend, has backed five startups in four years, offering not just capital but strategic muscle—access to GB Corp’s infrastructure, client networks, and mentorship to fuel growth in aligned sectors like manufacturing and fintech.

Shaheen’s strategy is deliberate, focusing on startups that complement GB Corp’s core businesses. “We’re building an in-house ecosystem, integrating startups that enhance our sectors,” she explained, highlighting a model that prioritizes long-term synergy over short-term gains. This approach contrasts with the region’s sparse CVC landscape, where only a few players like Orange, Standard Bank, and Safaricom have ventured into startup investments.

As the first woman to lead a CVC in Africa, Shaheen is also pushing for inclusivity. Her recent roundtable in Morocco rallied corporate leaders to explore CVC, sparking interest from firms like Bosch and Egyptian banks eager to replicate GB Ventures’ playbook. “Four years ago, CVC was barely a term here. Now, I’m helping others build their funds. We’ll see the number of CVCs double this year,” she predicted, citing the urgency for corporates to adapt as startups reshape industries.

With Africa’s tech ecosystem projected to grow exponentially—evidenced by $2 billion in startup funding by August 2025—Shaheen’s call to action is clear: corporations must bridge the gap with startups to stay competitive, or risk being left behind in a tech-driven future.