As Africa strives to drive technological innovation and connectivity within the region, we look at the overall top 10 startup capitals for technology in Africa.
10. Accra
Accra is the capital of Ghana on the Atlantic coast of West Africa. The capital currently has 12.2 companies per capita, with 0.17% receiving venture capital funding (VC) funding. Its average funding per company is US$0.64mn. Currently, within the capital it takes 14 days to start a business and eight days to complete the procedures.
Entrepreneurial culture index: 51.1
9. Tunis
Tunis is the capital of Tunisia, a country in North Africa, situated along Lake Tunis which is just inland from the Mediterranean. Currently Tunis has 16.6 companies per capita, with 0.12% receiving VC funding. The capital’s average funding per company is US$19.92mn, taking eight days to start a business, and six days to complete the procedures.
Entrepreneurial culture index: 43.3
8. Giza
Giza is an Egyptian city on the west bank of the Nile, not far from Cairo. Giza currently has a total of 3.2 and 0.25% receiving VC funding. The average funding per company is US$3.5mn and takes 12 days to start a business, and six days to complete the procedures.
Entrepreneurial culture index: 48.8
7. Cairo
Cairo is Egypt’s capital, which is set on the river Nile. The city currently has seven companies per capita and 0.22% receiving VC funding. The total average funding per company is US$3.35mn and takes 12 days to start a business. While the procedures take six days.
Entrepreneurial culture index: 48.8
6. Lagos
Lagos, Nigeria’s largest city, is situated inland from the Gulf of Guinea across Lagos Lagoon. Currently the city has 9.3 companies per capita, with 0.16% receiving VC funding. Per company. Funding within the city per company totals US$3.96mn and it takes 11 days to start a business. Procedures currently take eight days.
Entrepreneurial culture index: 57.9
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5. Cape Town
Cape Town, a port city in South Africa’s southwest coast, is located on the peninsula beneath the imposing Table Mountain. The city has 27 companies per capita with 0.13% receiving VC funding. The average funding per company is US$1.55mn and takes 40 days to start a business. Procedures currently take seven days.
Entrepreneurial culture index: 56.4
4. Johannesburg
Johannesburg, South Africa’s biggest city and capital of the Gauteng province, currently has 37.5 companies per capita, with 0.1% receiving VC funding. The time to start a business in Johannesburg is currently 40 days, with procedures taking seven days. The total funding per company is US$2.43mn.
Entrepreneurial culture index: 56.4
3. Nairobi
Nairobi is Kenya’s capital city. The capital currently has 24.4 companies per capita with 0.21% receiving VC funding. Within the city, the time to start a business is 23 days with procedures taking seven days to complete. Those receiving funding total an average of US$5.88mn per company.
Entrepreneurial culture index: 57.9
2. Plaines Wilhems District
Plaines Wilhems is a district in Mauritius. Within the district it currently takes five days to start a business, with procedures taking four days. The total companies per capita is 14.6, 0.28% of which are receiving an average of US$34.4mn per company in funding.
Entrepreneurial culture index: 49
1. Port Louis
Port Louis, the capital city of Mauritius and situated in the Indian Ocean. This final capital has 22.5 companies per capita, 0.2% of which are receiving VC funding, the average funding in the region totals to US$11.2mn. Within the city it takes five days to start a business, with procedures taking four days.
Entrepreneurial culture index: 49
For more information on business topics in Africa, please take a look at the latest edition of Business Chief Africa.
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