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As of 2023, Kenya led Africa in climate tech innovation, with ** climate tech startups that raised over 100,000 U.S. dollars. This achievement allowed the country to outpace major economies in the continent, such as Nigeria with ** startups, and South Africa ranking third, with ** startups. Overall, the countries with some of the lowest climate tech funding were DRC, Senegal, and Benin. However, the rise of climate tech startups across Africa reflects a trend of increasing investment in the continent's technology sector.

What does the startup funding landscape in Africa look like?

The climate tech sector’s growth can be considered a part of a larger wave of startup funding in Africa. Indeed, in the fourth quarter of 2024, some ** startups across the continent raised at least *** million U.S. dollars each, reaching a total of *** million U.S. dollars in funding. This represents a significant increase from the previous year but falls short of the peak recorded in the first quarter of 2022, when *** startups collectively raised *** billion U.S. dollars. These figures indicate the growing interest in investments in African innovation, especially in sectors that address global challenges such as climate change.

Startup funding by regionÌý

The overall funding landscape in Africa indicates significant regional variations. As of 2023, Kenyan startups across all sectors raised around *** million U.S. dollars, followed by Egypt and South Africa with *** million U.S. dollars and *** million U.S. dollars, respectively. However, there is a clear contrast in countries like Ethiopia and Guinea that only raised million U.S. dollars each, while startups in Mali, Somaliland, and Angola secured less than *** million U.S. dollars in funding. These disparities indicate the lack of opportunities in certain countries and the need for a more equitable distribution of funding and support of innovation across the continent.