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Nigeria Leads Africa in Start-Up Funding with $4.6B Raised Since 2019
Nigeria has raised $4.6 billion in startup funding since 2019, leading the African continent. Kenya ranks second with $3.4 billion in startup funding, showcasing its overachievement relative to its GDP.
Africa Boasts Nine Unicorns as Confidence in Scalability Grows
African startups secured $2.21 billion across 488 deals in 2024, a 22.73% decline from the previous year. The latter half of 2024 experienced a 24.96% surge in funding compared to the same period in 2023.
East Africa’s Startup Funding Surge: Kenya’s Dominance and Regional Investment Trends
East Africa secured 31% of total investment in 2020, with a marginal lead over West Africa. Since mid-2022, East Africa has accounted for 30% of all funding, surpassing other regions.
How agency banking is transforming financial access in developing countries
Only 49% of adults in sub-Saharan Africa own a formal bank account, with significant variations among countries. Agency banking has gained traction in Nigeria, providing convenience through proximity and responsiveness.
