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Key insights from the State of Tech in Africa 2021 report

AfricArena has released its State of Tech in Africa 2021 report. The aim of the report is to understand the innovation and investment developments seen in the ecosystem in the past 12 months.

Here are some key takeaways from the report:

Africa underperforms in VC activity in comparison to other global regions. Africa’s top-performing market, Nigeria, is an interesting case as it does not appear in the top five countries on the ranking of startups by country of incorporation – many startups that raise capital in Nigeria are not incorporated in the country. A

As Africa’s top ecosystem, Nigeria ranks considerably low in “Ease of doing business”. Africa’s second-largest ecosystem, Kenya, had a $5.80 per capita in VC investment in…

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