Check out 4 graphs with information on revenue, investments and jobs in African startup scenes below, all from the 2015 Venture Finance in Africa research. Entrepreneurs across Africa are encouraged to contribute and fill in the new annual research survey: help unlock quality information on African startups!

In the beginning of this year the 2015 Venture Finance in Africa report was launched, shedding light on Africa’s startup funding scenes. VC4Africa was able to track 104 investments in the startups listed on the online platform, with a total amount of USD 27 million.

This year the research team is reaching out to all entrepreneurs across Africa, inviting ecosystem players to help reach startup founders in their local ecosystems with a new survey. The more early stage ventures can be reached, the more evidence will be gathered on progress in Africa’s startup communities. Below are 4 graphs with information on revenue, investments and jobs from the most recent research.


With over 70% of all ventures generating revenue, it is clear that the African market is full of opportunities. 49% of the ventures start generating revenue in their first year of operation. 19% start or expect to generate revenue in year two and 4% in year three.

Revenue Growth VC4Africa research


The majority of ventures are making less than USD 10K in their first year of business. By their fourth year, 34% of the ventures expect to book more than USD 100K in annual revenue. Almost one-third of the ventures surveyed turned profitable or at least reached their point of break-even.

Revenue Generation VC4Africa research


Last year we were able to track over 1000 jobs created up to 2013 and over 4000 jobs expected by the end of 2015, at the 257 entrepreneurs who responded to the 2015 Venture Finance in Africa research.

The average number of jobs created per company is 5,7. The average number of jobs expected per company is 21,3. Agribusiness, health services and education related ventures are the most capital intensive. The average team size for e-commerce companies is highly influenced by a few outliers.

The chart shows the median and average team size values of top 8 countries where the most ventures are located.

Team size VC4Africa research


End of 2014, VC4Africa was able to track 104 investments in startups across Africa listed on its platform, with a total amount of USD 27 million. The research done so far indicates African countries have very different startup scenes, with investments varying widely across the continent. The research shows South Africa has the largest startup investments, Nigeria has most startup investments, and Kenya the largest total startup investments. The average amount invested per venture increase from USD 130K to over USD 200K over the course of 2014.

Out of the 104 tracked investments, most were in Nigeria (24), followed by Kenya (19), Tanzania (12), South Africa (11), Ghana (10), Uganda (10), Cameroon (9) and Egypt (9). When looking at the averages of tracked startup investments in the 8 mentioned countries, we see the largest average investment in South Africa (250K), directly followed by Kenya (slightly lower, rounded off 250K as well). Behind this are Uganda (152K), and – at a distance – Tanzania (66K), Ghana (65K), Nigeria (57K), Egypt (42K), and Cameroon (28K). It is known that South Africa’s startup scene includes more mature ventures and explains the bigger ticket sizes. The research indicates this is also the case in Kenya, and that startup investments in other ‘startup hotspots’ Nigeria and Egypt are much smaller on average.

External Captial VC4Africa research

African startup entrepreneurs: Benchmark the performance of your own company and participate in this year’s research (survey now available in French too).

English survey:

French survey:

Incubators, funds and other ecosystem players: Curious to see how your ventures compare against others? Connect with Thomas van Halen ( to add your organisation. Presently, Global Entrepreneurship Network (GEN), LIONS Africa, African Development Bank and Orange came onboard as a global network partners. DEMO Africa, AfriLabs, the African Business Angel Network and the East Africa Venture Capital Association, African Innovation Foundation, ALN Ventures, Wennovation Hub, Seedstars World participate as outreach partners.

About The Author

CEO AfrikaTech

Comme beaucoup de personnes j’ai connu l’Afrique à travers des stéréotypes : l’Afrique est pauvre, il y a la guerre, famine… Je suis devenu entrepreneur pour briser ces clichés et participer à la construction du continent. J’ai lancé plusieurs entreprises dont Kareea (Formation et développement web), Tutorys (Plate-forme de e-learning), AfrikanFunding (Plate-forme de crowdfunding). Après un échec sur ma startup Tutorys, à cause d’une mauvaise exécution Business, un manque de réseau, pas de mentor, je suis parti 6 mois en immersion dans l’écosystème Tech au Sénégal. J’ai rencontré de nombreux entrepreneurs passionnés, talentueux et déterminés. A mon retour sur Paris je décide de raconter leur histoire en créant le média AfrikaTech. L'objectif est de soutenir les entrepreneurs qui se battent quotidiennement en Afrique en leur offrant la visibilité, les connaissances, le réseautage et les capitaux nécessaires pour réussir. L'Afrique de demain se construit aujourd'hui ensemble. Rejoignez-nous ! LinkedIn:

Related Posts

Leave a Reply

Your email address will not be published.