In 2024, African startups saw fewer investors financing deals of over $100,000. 850 startups received funding over $100,000 in 2021, but this number decreased to around 520 last year, according to findings from Africa: The Big Deal. The report also found that investors are less active than before, as 28 were involved in over ten $100,000 deals in 2022, but this number dropped to 8 in 2024. Who were the top investors in Africa in 2024? 54 Collective was the only investor participating in more than 20 $100,000 deals. The
African entrepreneurs are deeply committed to their startups, but the cost of this passion often impacts their mental health, a new report from Flourish Ventures reveals. The study, which surveyed over 160 founders across 13 African nations, found that more than 80% experience mental health challenges, with anxiety (60%), stress (58%), exhaustion (52%), and depression (20%) being the most common issues. Key Challenges Affecting Founders External pressures like fundraising, inflation, and economic instability weigh heavily on entrepreneurs. Nearly 60% of respondents said raising funds is their biggest stressor, followed by
Southeast Asian investment network XA Network has expanded to the African continent with the launch of XA Africa. XA Africa aims to connect local founders with international investors, offering both capital and mentorship to help scale their ventures globally. Co-founded by Nitin Gajria, former Managing Director of Google Sub-Saharan Africa, Black Angel Group Co-Founder Jason Scott, and YouTube marketing director Marek Dawidowicz, XA Africa brings a wealth of experience to the continent’s entrepreneurial landscape. Their mission is to equip African startups with the resources and expertise needed to solve critical
African venture capital (VC) firm Enza Capital has closed $58 million across its two funds and announced the launch of its Founder Partner Program. Enza Capital Enza Capital is a multi-stage venture fund that backs startups and founders using technology to solve meaningful problems across Sub-Saharan Africa. The Nairobi-headquartered firm invests in and partners with technology companies building in the fintech, logistics, health, human capital, and climate-smart sectors. The firm began its VC journey in 2019 when it launched an early-stage fund to find, back, and help build category-defining startups
Their stories are inspiring. Meet 9 young and talented entrepreneurs who are committed to solving problems within their communities. They have launched and built businesses from the ground up before 30; these founders are leaving incredible contributions to the tech world. We wanted to highlight stories of a few young African entrepreneurs making a big impact in their communities and across their continent. Jean Bosco Nzeyimana, Rwanda Founder: Habona Jean Bosco Nzeyimana was named one of Forbes 30 Most Promising Young Entrepreneurs in Africa in 2017. At the age of
