🔥200+ companies that can fund your idea
This might be the most comprehensive list of companies that invest in African businesses
Hey, there!
It’s a great day to be alive…and in Africa.
Before we drop the exclusive list of companies funding African businesses in 2023 and beyond, here are some vital thoughts on the state of funding in Africa.
A recent report by Partech recorded an 8% uptick in YoY deal volume in Africa in 2022.
All things considered, 2023 will see an even higher rise in startup funding on the continent.
Of course, there’s been some concerns of a potential global recession-induced funding slowdown.
Yet, available data shows significant positive gains.
📑IMF Growth Projections For 2023
Nigeria🇳🇬: 3.2%
RSA🇿🇦: 1.2%
USA🇺🇸: 1.4%
Germany🇩🇪: 0.1%
France🇫🇷: 0.7%
Italy🇮🇹: 0.6%
Japan🇯🇵: 1.8%
UK🇬🇧: -0.6%
China🇨🇳: 5.2%
India🇮🇳: 6.1%
Russia🇷🇺: 0.3%
Full report here: IMF.org/WEO-jan23
“Recent tightening of monetary and fiscal policies will likely prove helpful in reducing inflation.” —Ayhan Kose, the World Bank’s Acting Vice President for Equitable Growth, Finance, and Institutions.
So I’m calling it a year of Africa to the world.
I feel strongly that African innovation ecosystem will be a preferred destination for many global players this year.
Nigeria trade volume is projected to rise to $12 billion between 2023 and 2027 with the implementation of the The African Continental Free Trade Area (AfCFTA). Source
That said, if you’re a startup founder, the graph below will show you crucial details of what investors need for various funding stages (Credit to Founder Institute):
Traction metrics by vertical:
Another crucial index for entrepreneurs yet to set up their venture is startup-friendly ecosystems. And on that front, Statista says the best country for startups in Africa in 2022 was South Africa, with a total score of 4.47 points, according to data provided by StartupBlink. Nigeria, Kenya, and Egypt followed in the ranking as best places for startups on the African continent.
Some of the leading cities for startups in Africa are Lagos, Johannesburg, Cape Town, Cairo, and Nairobi. Data below:
NOW before we finally release our best kept secret of 200+ investors that can fund your business idea, you might want to learn how to build a pitch deck.
First things first:
Download your favorite template here.
If you need help with the specifics of how to construct yours, feel free to shoot us an email via info(at)sfanonline.org.
That brings us to our big reveal…
…are you ready?!
🥁🥁🥁
🔥200+ Investors Funding African Entrepreneurs
We took the liberty to compile a list of 200+ reputable organizations that fund and support African businesses in 2023 and beyond.
SFAN In the News🎉
Our founder was recently tapped to lead the inaugural African Fashion Futures Incubation by Seedstars and African Fashion Foundation.
The incubator aims to encourage peer learning and cultural exchange among its participants as well as to future-proof them and instill excellent operational and business foundations to ensure growth.
The program also seeks to produce sustainable and financially viable enterprises. while honing the business capabilities of fashion designers.
ReadyforWork Alumni Spotlight🎉
Join us to congratulate ReadyforWork alum, Kezia who was recently selected for RMB Latitudes CuratorLab.
Kezia Ouomoye Owusu-Ankomah is a Ph.D. candidate at the department of painting and sculpture, and an art practitioner (Writer, Curator, Artist, and Mentor). Her contribution to the field of Fine Art has been as a Guest Curator at Kwame Nkrumah' University of Science and Technology, Kumasi where she also later took on the role of a 'Graduate Assistant'.
She is currently the Gallery manager at ADA contemporary art gallery in Accra Ghana. In her time there she has witnessed 14 successful shows. In July 2021, she curated an art exhibition titled Monologue of Voices which was held in 4 venues and hosted 16 artists at Sekondi, Ghana; a solo exhibition titled Hulu Shinyoo at the National Museum Accra, Ghana (November, 2022); The comeback, a group exhibition at Tse Addo, Accra Ghana (November, 2022); and Obaakofornsa II a solo exhibition at the National Theatre, Accra Ghana (December, 2022). She is presently the Operations Advisor at The African Art Hub UK.
Well done, Kezia!👏🏿
🔎ICYMI:
We recently shared a list of 250 scholarships you can take advantage of to further your career. If you missed that list, locate it here for free.↗️
We’ve put together the most comprehensive guide to make the best of your internship experience. And we’re giving out the ebook for free. If you want the book, download it here.↗️
Throughout this season of New Beginning, you can get 90% discount on Breaking the Limits book. Our founder wrote this book as my way of helping young professionals and entrepreneurs avoid painful mistakes he made earlier in my career. And I’ve received so many heartwarming testimonies on the book so far. You can snag a copy for yourself with a 90% discount using the Code: BTL_book (it’s case sensitive). Get your copy here.↗️
Thanks for reading!
Regards,
Ruth and the SFAN team.