Cities or “startup capitals” like Lagos, Nairobi and Cape Town attract the most funding in Africa, with Cairo and Johannesburg ranking close. But securing funds remains a challenge especially for early-stage startups. Funding still mainly comes from overseas investors. Fintech receives the lion’s share of funding. A country like Nigeria also has a demographic advantage. But there is need for more skilled tech talent. While other countries like Kenya, Nigeria and Egypt often surpass it for funded ventures or total funding, South African startups are by far the most successful when it comes to successful exits.
Source : CNBC Africa
