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Latest News / South Africa and Nigeria lead Africa’s tech start-up investment

 

Nigeria and South Africa are the two most popular African regions for technology start-up investment, according to the latest Disrupt Africa Tech Startups Funding Report.

The report, which reflected positive growth in African tech start-up investment, also revealed Egypt has moved to fourth place in the rankings, behind Kenya, after experiencing a 100% increase in investment.

The top three ranked countries for tech start-up investment, Nigeria, South Africa and Kenya, accounted for over 80% of the funds secured by new ventures. With the dense amount of funding of this kind in Cape Town, South Africa has gained the region the nickname ‘Silicon Cape’, after San Francisco’s ‘Silicon Valley, where leading tech businesses such as Apple, Cisco and Google first became established.

Although net funding reduced overall, the number of start-ups gaining funding significantly increased in comparison to 2015.

Gabriella Mulligan, co-founder of Disrupt Africa, commented, “2016 was another great year for African tech start-ups and investors. Our ecosystem progressed in leaps and bounds over the course of the year, which is evidenced by strong growth in the number of start-ups raising funding and an encouraging expansion of ecosystem activity across the continent.”

Tom Jackson, also a co-founder of Disrupt Africa, said, “The fact more start-ups raised funding in 2016 than ever before demonstrates the vitality of this sector, and we expect investor interest to grow and grow over the course of 2017.”

You can learn more about the report here.


 

South Africa and Nigeria lead Africa’s tech start-up investment
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