- African startups raised $110 million in April 2026, down 27.1% from March and the lowest monthly total since March 2025.
- Startups across the continent secured $708 million through 124 deals during the first four months of 2026, compared with $813 million across 180 deals a year earlier.
- Investors continued to favor lower-risk and more profitable business models amid high global interest rates.
African startups raised $110 million in April 2026, representing a 27.1% decline from March’s $151 million, according to data compiled by Africa: The Big Deal, which tracks transactions above $100,000.
The figure marked the lowest monthly fundraising total since March 2025, when startups raised $55 million. The amount also remained well below the 12-month monthly average of $275 million.
During the first four months of 2026, African startups raised $708 million across 124 transactions.
By comparison, startups on the continent raised $813 million through 180 deals during the same period in 2025. The figures reflected a 13% decline in funding value and a 31% drop in the number of transactions.
Energy and fintech companies accounted for the largest fundraising rounds in April.
Egyptian company MNT-Halan completed the month’s largest funding round with $41.3 million. Meanwhile, Kenya-based renewable energy company CrossBoundary Energy raised $40 million.
Togolese mobility platform Gozem secured $24.5 million in debt financing from the International Finance Corporation to support the expansion of its vehicle fleet in Benin, Cameroon, Republic of the Congo and Togo.
The so-called “Big Four” markets — Nigeria, Kenya, South Africa and Egypt — continued to dominate investment flows, although their relative share showed signs of moderate easing.
The funding contraction reflected a venture capital market that has become increasingly selective since the sector’s 2022 peak.
Investors now favor lower-risk transactions and startups with clearer profitability prospects as high global interest rates continue to pressure funding conditions.
Organizations such as the International Finance Corporation, Launch Africa, Partech, Norrsken22 and Digital Africa ranked among the most active investors since the start of the year.
At the same time, Asian investors, particularly Japanese investors, increased their participation in African startup financing rounds.
This article was initially published in French by Adoni Conrad Quenum
Adapted in English by Ange J.A de Berry Quenum
