The Disrupt Africa has revealed that that 210 African start-ups secured $334.5 million worth of investments in 2018, with Nigeria leading other countries as the premier investment destination in the continent.

According to the report, Nigeria secured $94,912,000 funding with 58 start-ups from various sectors.
The firm disclosed this in its annual African Tech Startups Funding Report for 2018.

The report, which tracks total amount of funding raised by African tech start-ups each year, found that 210 start-ups raised a total of $334,520,500 in 2018. This, according to the report, was a substantial leap from 2017.

The number of start-ups that raised funds grew by 32.1 per cent, and total funding jumped by an impressive 71.5 per cent.

A key finding of the report was the emergence of Nigeria as Africa’s start-up funding hub, after years of playing second fiddle to South Africa.

Nigeria topped the list of African start-ups and was closely followed by South Africa, with 40 businesses raising $59,971,000. Kenya ranked third in terms of the number of start-ups that raised funds.

However, other African countries are emerging as more than viable alternative destinations for funding as investors increasingly look beyond the traditional “big three” start-up ecosystems.

This is a trend that has been slowly developing over the last few years.
Whereas in 2015, South Africa, Nigeria and Kenya accounted for more than 80 per cent of total funding raised, in 2018 that fell to 61.8 per cent.

Much of that was attributable to the rise of Egypt as a destination for funding, with the country’s start-ups raising $58.9 million in 2018, clearly establishing Egypt as a leading start-up hub on the continent. Companies in 16 other African countries secured investment.

In terms of sectors, the fintech space continued to dominate, showing a clear favourite among investors with $132.75 million seed fund, accounting for 39.7 per cent of total funds raised.

According to the report, this was an increase on previous years, but nonetheless there are strong signs of progress in other sectors, with multiple edu-tech, e-commerce, e-health, transport, logistics and agri-tech startups raising funding as investors saw opportunities in a large number of areas.

Analysing the report, the Co-founder of Disrupt Africa, Gabriella Mulligan, said: “It has been an incredible year for tech start-ups in Africa – and it’s a real pleasure to release this report and the impressive figures it contains.

The continent’s entrepreneurs have grabbed the attention of investors, accelerators, and media both locally and globally this year with their innovative solutions and business models, and it’s great to be able to report on such strong results across our ecosystem.”

Another Co-founder, Disrupt Africa, Tom Jackson, said: “The African tech space continues on its upward trajectory, with more start-ups than ever before securing record levels of funding in 2018.”

Source:
https://nipc.gov.ng/2019/02/08/nigeria-leads-in-african-start-up-funding-with-94-9m/?fbclid=IwAR1WqoIL4r7GxMpneHoYnTYRkxNihuJ9-U170MAjYggdcp6F8BRDDVCmZR4

Really

post=77888878:
Slow and steady our darling country will rise again and fulfill its vast potentials.

am sure you meant Slow and steady we would get to where we were.

Stop glorifying average or what you have progressed over.. you don't reduce your standard just to celebrate growth.

https://www.google.com/amp/venturesafrica.com/150900/amp/

This one that Nigeria is leading in something they should go and check it well it may be of no good cos we always lead in negative things

You will hardly see the perpetually bitter and frustrated souls aka enemies of Nigeria, here.

Nice


Wonder which major ones though


Jumia made news for NYSE listing

And you expect me to read all that?

I had a friend in the Uni back then. He founded a startup with some guys and they recently got funded 1.2M dollars

The future is in tech and it's good the wise youth are tapping into it. The foolish youth are busy doing the yahoo and hailing Internet criminals.

As for me, I'm hoping to open a detox, psychiatric and renal centre to treat all the idiots drinking codeine, Rophynol, Glue, Meth, Crack, SK, binge booze and all. 10 years from now, your families would be selling your inheritance to pay medical bills.

The money you and your generations worked for, I'm collecting it from you since you lot lack sense.

Ok, But we lead in .........

If you see anything bad that nigeria is leading in, go and check it, it is our population that is the problem.


The last time it was our GDP. My question is, it those leading countries have the population nigeria has will they still be able to boast of such GDP?

We need to try and control our Population that keeps skyrocketing. State governments need strong laws to control illegitimate births amongst the youths. You hear a 24year old jobless guy already has two kids and such guy will still blame the government.

Olodo24:
And you expect me to read all that?

Even if you read it from top to bottom and bottom to top, your brain is incapable of processing information.

Check your moniker.

Many of the firms that grabbed the investments are probably tech startups. Tech is the future!









Do you own a startup with a brilliant idea and you are looking for funding? Check my signature

Story story...

Chimaokigwe:


Even if you read it from top to bottom and bottom to top, your brain is incapable of processing information.

Check your moniker.

Lol .

Some kids are better left ignored on this forum.
You shouldn't have replied him!

Tech is the future of Nigeria.

kaen1317:
This one that Nigeria is leading in something they should go and check it well it may be of no good cos we always lead in negative things

Change your mindset sir.
Let positivity reeks around you.
Stop being a pessimist.

SillyMods:
You will hardly see the perpetually bitter and frustrated souls aka enemies of Nigeria, here.

They aren't here yet.

By 9am is when they have eaten 'mama thank you' from their mother's kitchens, they would start strolling in one by one like ducklings.

People who carry their mentality can't build something worthy of investment cos they only see problems and not solutions.

Esseite:


am sure you meant Slow and steady we would get to where we were pre 2015.

Stop glorifying average or what you have progressed over.. you don't reduce your standard just to celebrate growth.

https://www.google.com/amp/venturesafrica.com/150900/amp/

Must you always put a negative spin on every news? It's like you see everything about Nigeria from political lenses. That is just too bad dude.

WisdomFlakes:


Must you always put a negative spin on every news? It's like you see everything about Nigeria from political lenses. That is too bad dude.

But it's the truth backed with facts... only when we acknowledge truth, would we see true growth..

Nigerians hate truths..

Shikini:
[s]Yet, one unfortunate hypocrite leader claims Naija Youths
are lazy.

He himself was a former Head of State, a former PTF chairman etc
but could not develop himself beyond a fake school certificate[/s]

This is supposed to be a refreshing thread to acknowledge the growth of the startup (tech) scene in the country. This is not a thread to rant and spit bile

The fact that the country tops the list is a validation that VCs, Capitalits and investors in general are taking a bet on the country and the future looks bright-business wise.

Esseite:


But it's the truth....

Oh please. Your 'truth', as it pertains to Nigeria, seems to always have negative coloration. I wonder how some of you think politics 24/7. That must be a very bleeped up way to live. Just saying.

WisdomFlakes:


Oh please. Your 'truth', as it pertains to Nigeria, seems to always have negative coloration. I wonder how some of you think politics 24/7. That must be a very bleeped up way to live. Just saying.

That is because majority are fed with lies and propagandas from both divides, that is why it seems coloured to different folks at different times.

But truth would always be truth.

post=77889756:

Change your mindset sir.
Let positivity reeks around you.
Stop being a pessimist.

t&e day u tell me what we do in this country aside from selling oil and sharing the money and 2. why all we do is import stuff and have nothing of value to export...i will start being optimistic the day you can satisfactorily answer me

WisdomFlakes:


Oh please. Your 'truth', as it pertains to Nigeria, seems to always have negative coloration. I wonder how some of you think politics 24/7. That must be a very bleeped up way to live. Just saying.

They are bitter souls who have absolutely nothing to offer the country...They just hide behind their cheap data after eating their mother’s food and spit bile, hate and absurdities under faceless monikers.

A good number of them don’t even understand what the post is about. They can’t relate to startup life, tech entrepreneurship. They only know how to wail!

kaen1317:
t&e day u tell me what we do in this country aside from selling oil and sharing the money and 2. why all we do is import stuff and have nothing of value to export...i will start being optimistic the day you can satisfactorily answer me

Okay, kindly remain being a pessimist.
Enjoy your weekend!

Please define Nigerian Startup because we all know a poor Nigerian with bright ideas almost never gets any funding.

Esseite:


That is because majority are fed with lies and propagandas from both divides, that is why it seems coloured to different folks at different times.

But truth would always be truth.

No. You are the one with the problem if all you always see are negative sides of everything, every time. Take a chill pill dude.

philip0906:

This is supposed to be a refreshing thread to acknowledge the growth of the startup (tech) scene in the country. This is not a thread to rant and spit bile

The fact that the country tops the list is a validation that VCs, Capitalits and investors in general are taking a bet on the country and the future looks bright-business wise.

WisdomFlakes:


Must you always put a negative spin on every news? It's like you see everything about Nigeria from political lenses. That is just too bad dude.

It is always good to see that we still have some reasonable people like you men around here.
God bless you.
God bless Nigeria.

SillyMods:
You will hardly see the perpetually bitter and frustrated souls aka enemies of Nigeria, here.

They are always sad reading good news about the country.
And that bitterness and hatred for Nigeria will send them to their early, impromptu grave.
They can NEVER escape it.