International Finance

Tech Startup Funding Report illustrates Africa’s startup-investor boom

Africa, African startups, investments, startup investments, Kenya, Ghana, South Africa, Nigeria, Egypt, Uganda, funding
South Africa, Nigeria and Kenya are top destinations for tech investments in 2017

The Disrupt Africa Tech Startups Funding Report 2017 found tech startups in Africa secure funds more than US$195bn.

Disrupt Africa’s data report on tech investments is released for the third consecutive year. The growing rate increased to 159 startups and the funds went up 51% on 2016 investments.

Gabriella Mulligan, co-founder of Disrupt Africa, said, “We’re very excited to present this data on what has been a record-breaking year for African tech startups. More startups were given more funding than ever before, and the number of multi-million dollar rounds also shot up. There can be no clearer validation of the quality of innovation and businesses being built from within Africa.”

South Africa, Nigeria and Kenya are listed as top tech investor destinations in 2017. The categories for high ranking include number of deals and overall funding amount. Investor interest around the three destinations have significantly improved. Even Ghana, Egypt and Uganda are emerging to become the next startup-investor regions.

Tom Jackson, co-founder of Disrupt Africa said the ability to report record investment figures is inspiring as ‘funding for African tech startups close on US$200mn.

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