Start-ups In Africa That Raised USD 1 Million In 2019

The majority of start-ups in Africa are struggling to remain afloat due to financial constraints.

Majority of start-ups depend on sourcing for funds, unlike Small Medium Enterprises that have long-term “business goals.”

There is a difference between a start-up and an SME. A start-up is a temporary form of business that mostly lasts up to 6 months and it is mostly through trial and error.

“It is a temporary organization designed to search for a repeatable and scalable business model,” says Steve Blank.

An SME is more permanent than a start-up and it starts out as a well-structured organization designed to deliver goods and services to an already known customer base.

There are various startups in Africa that have managed to get more than 1 million US Dollars in the first half of 2019.

The start-ups from Kenya are:

• BitPesa
• M-Tiba
• Shortlist
• Sokowatch
• Lori System
• MyDawa
• Twiga Foods
• Lynk

The start-ups from Nigeria are:

• Andela
• TeamApt
• OneFi
• Farmcrowdy
• Kudi
• mDaas
• Arnergy
• Max
• Opay
• 54gene

The start-ups from Uganda are:

• SolarNow
• Neopenda
• Safe Boda

The start-ups from South Africa are:

• WhereIsMyTransport
• The Sun Exchange
• RapidDeploy
• Wealth Migrate
• Retail Capital
• Aerobotics
• Valr
• Flexclub
• Centbee
• Intergreatme
• GovChat
• TymeBank
• LulaLand
• SweepSouth
• Enko Education

Mauritius had one start-up that managed 1 million USD in 2019:

• Daystar Power

The start-ups from Ghana are:

• PEG Africa
• mPharma

Tunisia, Zimbabwe, and Zambia had one start-up each securing 1 million US dollars in 2019:

• InstaDeep (Tunisia)
• PayitUp (Zimbabwe)
• Rent To Own (Zambia)

The start-ups from Egypt were:

• Swvil
• MoneyFellows

Here is how the countries ranked in terms of the number of start-ups:

• South Africa (15)
• Nigeria (10)
• Kenya (8)
• Uganda (3)
• Ghana (2)
• Egypt (2)
• Mauritius (1)
• Zimbabwe (1)
• Zambia (1)

What do you need for a start-up?

All you need for a start-up is an idea. Your idea must be smartest in the room and unique in the whole world if possible. Investors in start-ups invest in ideas. Your idea has to touch as many people as possible in terms of an impact if actualized.