Sub-Saharan Africa has experienced significant growth, making the region a hub of innovation. Kenya ranked 3rd among the top 10 African countries with thriving startup ecosystems.
According to the Global Startup Ecosystem Index, these countries have shown remarkable achievements in funding, deal count, and sector-specific advancements, attracting entrepreneurs and investors alike.
Kenya has become an innovative tech hub, especially for mobile payment solutions. Kenya’s pioneering status as a leading continental ecosystem is even more impressive considering the relatively low population compared to countries such as Nigeria.
South Africa leads with economically successful cities like Cape Town and Johannesburg, South Africa has a vibrant, private sector-led startup scene. Cape Town, in particular, has emerged as a tech hub and has attracted direct foreign investment as well as talented workers from around the country. It is also the most popular digital nomad hub in Africa.
Mauritius is the 2nd highest-ranked country in Africa, bypassing Kenya, Nigeria, and Egypt this year. With a small but healthy startup ecosystem, thanks to a tight-knit community of freelancers and entrepreneurs, Mauritius has a relatively developed physical infrastructure that serves as a solid foundation for new businesses.
Nigeria ranked number four with its massive consumer market, Nigeria and its capital, Lagos, have become a leading startup hub in Africa. The country now tops Africa’s unicorn charts, with companies such as Flutterwave and OPay rapidly expanding regionally.
The rest of the list includes Egypt, Ghana, Cape Verde, Senegal, Namibia and Tunisia.
In overview the Kenyan startup ecosystem is on the move. It is a leading hub for entrepreneurship on the continent thanks to several strengths, including a growing number of engaging international investors, a huge population with access to technology, and a growing number of startup support organizations active in the ecosystem.