By: Economic & Finance Report
International startups are down approx 30% from the previous year (2015 CB Insights data). Tech startups on the African continent are on an uptick though, leading the technology startup boom has been Kenya, who made a respectable close to $48 billion dollars in startup revenue. Other countries in Africa, that have followed suit have been Nigeria and South Africa respectively.
It is expected that more foreign investment will be infused in Kenya and the rest of the continent, especially for technology startups. As startups expand in development, key is high speed internet access. As high speed globalizes and revolutionizes the world; more global companies will be looking for the next “big thing” or technology boom; and they will be rearing they eyes on the continent with way over 1 billion people. -SB