African Startup Ecosystem: A Concentration of Activity in Key Hubs
The activity of African startups is mainly concentrated in a few dynamic hubs, with South Africa and Egypt leading the way. According to the data from the Global Startup Ecosystem Report 2025 published by Startup Genome, these two countries raised $467.8 million and $281.6 million respectively in 2024, confirming their position as regional leaders.
Behind them, Nigeria and Morocco follow with similar amounts, around $176 million each, while Kenya completes the top five with $172.2 million. These five countries alone account for more than 80% of the funds raised on the continent, highlighting a significant gap between the major tech hubs and emerging ecosystems.
Contrasting Regional Hubs
Nigeria stands out not only for its fundraising but also for its exceptional number of startups from the famous Y Combinator accelerator (57), proof of a mature and internationalized entrepreneurial ecosystem. South Africa and Egypt each have a unicorn, as does Senegal, which underscores the growing power of African innovations with high impact.
In North Africa, Tunisia and Morocco confirm their presence on the continental scene with $15.2 million and $176.9 million raised respectively.
In Sub-Saharan Africa, the ecosystems of Ghana, Rwanda, and Uganda are progressing slowly but show a certain dynamism, supported by a young entrepreneurial spirit and local incubation initiatives.
An Evolving Ecosystem
The year 2024 marks a consolidation of African ecosystems, driven by the acceleration of digitalization, the rise of fintechs, and the growing interest of international investors. However, regional disparities remain significant: only a few countries manage to attract significant capital, while others, such as Somalia or Namibia, remain at an embryonic stage.
For Startup Genome, the next step will be to strengthen connectivity between African hubs and improve access to financing for local startups, in order to transform the continent's potential into a true global innovation engine.
