Nigeria is the leading African destination for foreign direct investments in technology startup businesses. Between 2015 and 2022, Nigerian technology startups have secured funding totalling just over US$2 billion. This is the highest amount of funding recorded by any country in Africa.
The “big-four” countries of Nigeria, Egypt, South Africa and Kenya, are leading Africa’s startup scene. They currently account for about a third of the continent’s start-up incubators and accelerators, and receive 80% of technology startup FDI into Africa.
