How African Startups and Investors Performed in H1 2018

How African Startups and Investors Performed in H1 2018

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 [2017],  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

H1 2018 Funding – Africa (source: WeeTracker)


The Top funding within the Period is provided below

Top funding deals (source: WeeTracker)


Nigeria Solidifies Its Position Leading South Africa and Kenya

Country total deals (WeeTracker)


Fintech Leads all Sectors

Fintech leads all sectors (source: WeeTracker)


Major Investors during the Period

Major investors during the period (Source: WeeTracker)


All Together

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.


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