Africa is home to the world's fastest growing cities, and more than half of the world’s population growth will take place on the continent over the coming decades. By 2050, cities like Lagos and Kinshasa will be global megacities, each holding well over 30 million inhabitants.
Africa is also at the start of a technological renaissance. It was recently reported by WeAreSocial that 7 out of 10 of the world’s fastest growing internet populations are in Africa – the beginning of a trend that will likely reshape entire economies as new companies leapfrog established technology, ideas, and infrastructure.
A recently released infographic by GSMA shows the 300+ hubs that have emerged in the African tech startup ecosystem. Many of these hubs are inspiring new entrepreneurs and positioning to take advantage of the emerging Africa market, including the 360 million smartphone owners expected on the continent by 2025.
Investors are recognizing the potential as well. Last year, it was estimated that African startups raised a record-breaking total of $366.8 million in investment in 2016 with the top 10 destinations being Nigeria, South Africa, Kenya, Rwanda, Cote d’Ivoire, Tanzania, Egypt, Ghana, Senegal, Morocco, Tunisia and Uganda.
A snapshot of funding destinations in Africa
Lagos has one of the most valuable and vibrant tech ecosystems in Africa with over 700 tech focused startups in its tech ecosystem.
Cape Town is a home for sophisticated globally focused tech businesses and entrepreneurs who recognise the value of the tech community.
More than 150 startups have launched out of Kenya’s tech ecosystem and they have become one of the hottest cities for tech investors.
Rwanda’s tech ecosystem has made tremendous strides in the development of their tech startup scene.
Cote d’ Ivoire is growing quickly, positioning its tech startup ecosystem and attracting investment.
CcHub is a technology innovation center dedicated to accelerating the application of social capital and technology for economic prosperity.