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African startups need an enabling ecosystem to succeed

Gerald Maithya, Startups Lead, Africa Transformation Office. [File, Standard]

The thriving African startup market is well-positioned to become a pillar of the continent's digital economy, fostering local innovation through relevant solutions to societal challenges.

According to research, funding for African startups more than doubled to $3.14 billion (Sh379 billion) in the first half of this year. Nigeria, Egypt, South Africa, and Kenya are the continent's top investment destinations, though funding is also increasing elsewhere, with financial technology (fintech) remaining the dominant sector.

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