The Year 2023 surely has been interesting, and one that has a lot of memories, and achievements to remember. The data from our Exponential Africa (ExpA) Database, with more investigation and data from outside resources like news articles and websites of African startups, enabled us to compile a well detailed information on the …
The electric vehicle (EV) market in Africa, while in its early stages, is gaining momentum with significant government support and incentives. This aligns with the global trend towards environmentally friendly transportation. According to McKinsey & Company's report, "Why the Automotive Future is Electric," EVs are expected…
The global economy has been sluggishly combatting with high inflation rates, and challenging global and domestic financial conditions. However, Africa has been remarkably resilient. Overall, Africa retains a high growth trajectory with an average real GDP growth rate projected to grow by 4% in 2023/2024 relatively above the glo…
Africa’s big four which are: Nigeria, Kenya, Egypt, and South Africa accounted for much of Africa’s startup funding. Egypt got the most funding – $492.7 million. South Africa followed in second place with $254.2 million, while Nigeria ($52.6 million) and Kenya ($42.8 million) rounded up the top four. Ethiopia, Ghana, Morocco, M…
In this report we detail the value of funding flowing into Africa’s various markets, the number of funding rounds raised in each country and sector, average deal sizes, as well as standout deals. We have provided analysis of seven key markets across the continent, as well as details of funding…
