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African startups raised over $2B in 2024, led by financial services, with emerging sectors gaining traction
  • The financial services sector attracted the largest share of funding at $806.3m, accounting for more than 40% of total startup investment.
  • Renewable energy secured $377.1m, showing strong investor appetite for sustainable solutions in Africa.
  • Telecommunications raised $316.0m, while mobility & logistics brought in $222.8m, highlighting infrastructure-driven growth.
  • Electric vehicles ($87.9m), e-commerce ($50.3m), and crypto/blockchain ($35.3m) attracted meaningful investments, signalling diversification beyond traditional sectors.

It took African startups an average of five years to hit unicorn status
Moniepoint achieved unicorn status after nine years of operation. Here is how long it took other African startups to reach the milestone.

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