Africa is gradually becoming the next big thing in innovation and tech. With a population of over 1.3 billion, the 54-state continent is seeing rapid growth in technology startups over the years.
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2019 was a record-breaking year. African tech start-ups raised US$ 2.02 Billion in equity funding, a 74% YoY growth. The fintech sector remained the most popular among investors, pulling in 41% of the total funding. For the lead markets, Nigeria and Kenya remained at the top, securing $747 million and $564 million, respectively. Egypt is gaining strong attention and ranked No.3; whereas South Africa though held its ground with the highest deal count, came last in funding volume (Partech 2019 Africa Tech VC Report).
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Innovation is the key to African stability and growth. The unleashed continent continues to make big moves and is proving to be the future.
