Ten Most-Funded Tech Startup Industries Shaping Africas VC Scene [Video]

In this bird TenX, Seth Onyango looks at the top African tech industries attracting venture capital funding.

Africa (13 June 2024) – Africa’s tech ecosystem is attracting billions of dollars, thanks to dynamic startups whose innovation and creativity are reshaping industries and unlocking new opportunities. Youthful populations and digital connectivity are further fueling growth. From the fintech startups driving financial inclusion to the agri-tech startups improving food security, the impact of these startups is nothing short of transformational. Here are the ten most-funded tech industries:

1. Fintech (31.5%):

Fintech continues to dominate the African market, driven by a growing demand for digital financial services. Mobile money solutions are at the forefront, offering alternatives to traditional banking that appeal to millions of unbanked Africans. These digital options are attractive because they provide more portable and accessible financial services than traditional banking, which is often limited by paperwork and account maintenance requirements.

2. E-commerce and Retail Tech (11.3%):

E-commerce is booming as internet penetration rises …