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 , 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
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.
Simply, we cannot stop making the case: Africa is ready for business and investment.---