- Nigerian start-ups raised $635mn, but four companies secured almost 70% of the total.
- Africa’s funding remains concentrated as smaller ventures and women-led businesses struggle.
ABUJA, NIGERIA — Nigeria has reclaimed Africa’s start-up funding crown with $635mn raised in nine months, even as early-stage investment becomes scarcer across the continent.
The West African economy attracted more capital than Egypt, Kenya or South Africa for the first time since 2022, according to Africa: The Big Deal. Yet four companies accounted for almost 70% of its total, illustrating a continent-wide shift towards larger investments in fewer businesses.
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