African startups raised $460 million in the first quarter of 2025, according to data from Africa: The Big Deal. This total includes all funding deals worth at least $100,000. Although promising, this marks a 40.5% drop compared to the $774 million raised in Q4 2024.
Startups raised the most in January 2025, collecting $289 million. However, February saw a sharp drop with $119 million, and March slowed further, with startups raising just $50 million. This made Q1 2025 the second-slowest quarter since Q4 2020, during the peak of the pandemic.
Still, the numbers aren’t all bad. When compared to Q1 2024, where startups raised $486 million, the drop is only 5.3%. While the first quarter of 2024 was also weak, it shows that early-year funding trends tend to be slower.
One highlight of the quarter was that 52 startups raised at least $1 million. This matches the average seen in 2023 and 2024, proving that investor interest remains strong in top-performing startups.
Nigeria and Kenya each secured 24% of the total funding in Q1 2025. Both countries raised over $110 million, showing strong momentum from the previous year. In 2024, Kenya led Africa with $638 million, displacing Nigeria as the top investment destination for two years in a row.
Still, Nigeria’s late rally in 2024 helped it regain strength, and that momentum has continued into 2025. South Africa also performed well, improving on its 17.9% share in 2024. Its startups kept the pace from their late 2024 boost.
Egypt, the fourth member of Africa’s Big Four startup ecosystems, raised $61 million, making up 14% of the quarterly total.
Togo completed the top five countries in Q1, thanks to Gozem’s $30 million Series B raise in February. The round was led by SAS Shipping Agencies Services and Al Mada Ventures.
Overall, 83% of Q1 funding went to the Big Four: Nigeria, Kenya, South Africa, and Egypt, showing that most of Africa’s startup investments remain concentrated in these countries.
This fresh effort from the payments giant targets students, recent graduates, and professionals at the beginning of their careers. Participants will explore in-demand fields such as cybersecurity, design, marketing, and product management.
The directive, signed by Amonia Opusunju on behalf of the Director of Compliance, emphasised that institutions must rigorously monitor both local and international watchlists. These include the United Nations Consolidated Sanctions List and the Nigerian Sanctions List, maintained under the Terrorism (Prevention and Prohibition) Act 2022.
Launched in 2022 but fully operational by 2023, Hydrogen’s explosive growth is largely attributed to its increasing transaction volume, a broadening partner network, and an aggressive efficiency strategy. The fintech offers an extensive service bouquet including InstantPay, POS systems, cards, switching infrastructure, and a robust payment gateway.
FibreX comes with renewed efforts to expand the country’s fibre optic backbone. MTN Nigeria is supporting the Federal Government’s push to extend national fibre capacity from 35,000 km to 125,000 km—an ambitious plan that includes an additional 90,000 km of fibre.
Despite this industrial promise, Ghana’s 5G journey has been riddled with delays. From the initial target of December 2024, deadlines have slid — first to January 2025, and now June.
At the GITEX Africa 2025 summit, Nigeria’s tech policy chief, Kashifu Inuwa, took the spotlight, urging the global tech ecosystem to keep AI development grounded in human values. Representing the National Information Technology Development Agency (NITDA), Inuwa joined global industry players to unpack how artificial intelligence is reshaping businesses across the world. During a panel […]
The West African Examinations Council (WAEC) has introduced the first computer-based WASSCE for school candidates in Nigeria. WAEC announced the major shift during a press briefing at its national office in Yaba, Lagos, on Thursday. Dr. Amos Dangut, Head of WAEC Nigeria, said the council is fully prepared to conduct the 2025 exam using digital […]
This marks the seventh edition of the accelerator, open to Seed to Series A startups that have at least one founder of African descent, a live product in market, and a responsible approach to AI innovation.
Vendease CEO and co-founder Tunde Kara confirmed the exit, stating the business had recovered its investment in Ghana within six months.
The new PoS system comes with a range of advanced features, including real-time monitoring, instant settlements, pay-by-link options, and a 100% transaction success rate. It’s also been optimised to suit businesses of all sizes, giving merchants a more reliable and efficient way to manage their payments without disruption.
This fresh effort from the payments giant targets students, recent graduates, and professionals at the beginning of their careers. Participants will explore in-demand fields such as cybersecurity, design, marketing, and product management.
The directive, signed by Amonia Opusunju on behalf of the Director of Compliance, emphasised that institutions must rigorously monitor both local and international watchlists. These include the United Nations Consolidated Sanctions List and the Nigerian Sanctions List, maintained under the Terrorism (Prevention and Prohibition) Act 2022.
Launched in 2022 but fully operational by 2023, Hydrogen’s explosive growth is largely attributed to its increasing transaction volume, a broadening partner network, and an aggressive efficiency strategy. The fintech offers an extensive service bouquet including InstantPay, POS systems, cards, switching infrastructure, and a robust payment gateway.
FibreX comes with renewed efforts to expand the country’s fibre optic backbone. MTN Nigeria is supporting the Federal Government’s push to extend national fibre capacity from 35,000 km to 125,000 km—an ambitious plan that includes an additional 90,000 km of fibre.
Despite this industrial promise, Ghana’s 5G journey has been riddled with delays. From the initial target of December 2024, deadlines have slid — first to January 2025, and now June.
At the GITEX Africa 2025 summit, Nigeria’s tech policy chief, Kashifu Inuwa, took the spotlight, urging the global tech ecosystem to keep AI development grounded in human values. Representing the National Information Technology Development Agency (NITDA), Inuwa joined global industry players to unpack how artificial intelligence is reshaping businesses across the world. During a panel […]
The West African Examinations Council (WAEC) has introduced the first computer-based WASSCE for school candidates in Nigeria. WAEC announced the major shift during a press briefing at its national office in Yaba, Lagos, on Thursday. Dr. Amos Dangut, Head of WAEC Nigeria, said the council is fully prepared to conduct the 2025 exam using digital […]
This marks the seventh edition of the accelerator, open to Seed to Series A startups that have at least one founder of African descent, a live product in market, and a responsible approach to AI innovation.
Vendease CEO and co-founder Tunde Kara confirmed the exit, stating the business had recovered its investment in Ghana within six months.
The new PoS system comes with a range of advanced features, including real-time monitoring, instant settlements, pay-by-link options, and a 100% transaction success rate. It’s also been optimised to suit businesses of all sizes, giving merchants a more reliable and efficient way to manage their payments without disruption.
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