WeeTracker, a company that produces information on startups and funding in Africa, has released its H1 2018 African startups and investors report. People, it is promising: African startups raised $169 million in the first half of 2018 over 120 deals. In the whole of 2017, the number was about $170 million for a total of 201 startups.
People, money is dripping into Africa-focused startups. Last year [2017], about $170 million was invested in 201 of such startups. Generally, the continent recorded 28% year-on-year on startup investment dollars while the number of startups which received funding grew by 32%.
Here are snapshot of the report.
Report Summary – H1 2018
The Top funding within the Period is provided below
Nigeria Solidifies Its Position Leading South Africa and Kenya
Fintech Leads all Sectors
Major Investors during the Period
All Together
This is a positive trajectory. We’ll take it – one day it would hit $1 billion. African startups are ready-for business. On the same note, I invite you to read my (old) piece in the Harvard Business Review – Africa is Open for Business – which was translated into Chinese, French and other languages when it ran by local print newspapers. The European Business Review made it a part-cover piece.
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Simply, we cannot stop making the case: Africa is ready for business and investment.
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