Startup ecosystems are often evaluated based on the number of successful new companies, technology hubs, access to funding, and the overall business landscape.
African nations are changing the narrative of economic development through infrastructure and connectivity. They leverage unique resources and strengths while turning challenges into opportunities to foster a thriving environment for new businesses.
African governments are taking proactive steps to support entrepreneurial endeavours. Infrastructure development, policy reforms, and initiatives to promote digital literacy contribute to the enabling environment for startups to flourish.
International organisations and private investors also recognise the potential of African businesses and provide support through mentorship programs and funding.
As a result, data-driven insights from the Global Startup Ecosystem Index (GSEI) by StartupBlink have identified the best countries for startups on the African continent in 2023.
Established in 2017 to provide insights into the vitality and strength of new businesses, GSEI is an annual ranking and report that evaluates startup ecosystems worldwide. It aims to help researchers, policymakers, entrepreneurs, and investors learn the global landscape of entrepreneurship and innovation.
Below are the top 10 leading countries for startups in Africa in 2023, according to the Global Startup Ecosystem Index (GSEI) by StartupBlink.
| Rank | Country | Total Score |
|---|---|---|
| 1 | South Africa | 3 |
| 2 | Mauritius | 2.1 |
| 3 | Kenya | 1.97 |
| 4 | Nigeria | 1.94 |
| 5 | Egypt | 1.64 |
| 6 | Ghana | 0.73 |
| 7 | Cape Verde | 0.72 |
| 8 | Senegal | 0.63 |
| 9 | Namibia | 0.62 |
| 10 | Tunisia | 0.56 |
Source : Business Insider
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