We have partnered with Disrupt Africa to sponsor the production of The Nigerian Startup Ecosystem Report to make it available for all. We are confident that it will serve to raise awareness of the infinite potential inherent in Africa’s many agile startups and budding businesses, and ultimately the African economy as a whole.
The report found that Nigeria is the most popular investment destination on the continent. Between 2015 and 2022, 383 tech startups raised a combined US$2,068,709,445 - a higher total than any other country. As of August 2022, 107 Nigerian startups have raised funding - accounting for around one third of the continent’s funded startups so far this year. The country’s running total for 2022 stands at US$747,908,000 - closing in on the annual record total from last year, of US$793,790,000.
Lagos is the hub of Nigeria’s startup ecosystem, and has a claim on being the leading startup city on the continent, alongside the likes of Cape Town and Nairobi. Read the full report here.