Why over 50% of Africa’s startups might not survive
- The African tech ecosystem has been experiencing a boom since 2019, with startups emerging across the continent.
- Nigeria reportedly had over 3,360 startups in 2024, making it the country with the most startups in Africa.
- Less than half of the startups established in Africa make it past the first few years, with a global startup failure rate of 90%.
The challenges faced by African startups highlight the need for a supportive ecosystem that fosters communication and collaboration between founders and investors. Addressing these issues could lead to a more sustainable growth trajectory for the tech sector in Africa.
