Startups provide an avenue for economic diversification in Africa where traditional industries seem dependent on natural resources. Developing new industries like Fintech, Agritech, Healthtech, and Edtech can help Africa become less reliant on resource-based economies and create more robust economic systems. Fortunately, there are African cities already threading this path.
Africa is undergoing a dramatic economic shift, fueled by rapid technology breakthroughs, a growing young population, and a surge of entrepreneurial enthusiasm. At the core of this revolution is the rise of vibrant startup ecosystems.
Additionally, African startups are in a unique position to promote inclusive growth and social impact. A lot of these startups concentrate on finding solutions to urgent societal problems.
The African Startup ecosystem has been on the path of rapid growth in recent years. The Global Startup Ecosystem Index 2024 report by Startup Blink shows that several African regions are quickly becoming globally recognized tech hubs.
“Lagos is solidifying its status as the leading regional hub of Africa,” the report reads. “As the leading startup ecosystem of Africa, Lagos joins the top 70 for the first time,” it adds.
The report also reveals that there are a good number of African cities that rank in the top 20% of the world’s leading Startup ecosystems globally.
“The Africa & Middle East region has 56 cities ranked within 201 to 1,000, with 4 new cities joining the Index. Of these, 39 cities show positive momentum,” the report reads.
With that said, here are the top 10 best African cities for Startups in 2024.
To come up with the final score, Startup Blink’s algorithm is built on objective, measurable data, allowing for reliable rankings across regions, nations, and cities.
Top 10 best African cities for Startups in 2024
| Rank | City | Country | Global rank | |
|---|---|---|---|---|
|
1. |
Lagos |
Nigeria |
9.786 |
70th |
|
2. |
Cairo |
Egypt |
8.071 |
97th |
|
3. |
Nairobi |
Kenya |
6.642 |
113rd |
|
4. |
Cape Town |
South Africa |
5.311 |
128th |
|
5. |
Johannesburg |
South Africa |
5.011 |
139th |
|
6. |
Victoria |
Seychelles |
1.710 |
253rd |
|
7. |
Dakar |
Senegal |
1.595 |
261st |
|
8. |
Accra |
Ghana |
1.555 |
268th |
|
9. |
Port Louis |
Mauritius |
1.428 |
288th |
|
10. |
Addis Ababa |
Ethiopia |
1.116 |
328th |
