The StartupBlink’s 2024 Startup Index has ranked Nigeria, along with 12 other African countries in the top 100 Global Startup Index, placing the countries among the top 100 nations with vibrant startup ecosystems.
According to the CEO, StartupBlink, Eli David Rokah, 2024 has been a very challenging year for startups around the world with the deteriorating funding landscape.
The report has been consistently updated since 2017. It aims at helping founders and other stakeholders evaluate potential ecosystems, considering both immediate benefits and long-term stability, to ensure their projects can survive and thrive in evolving conditions.
The publication, which includes the ranking of the top 1000 cities, also indicated that more Nigerian cities have made their marks in startup activities, a development which helped Nigeria retain its 64th position in the top 100 countries ranking.
African countries listed in 2024 top 100 Global Startup Index
According to the global startup research, 13 African countries were listed in the top 100 countries and include:
1. South Africa
South Africa ranked 52nd globally and first in the continent with four cities represented in the top 1000 global cities startup index.
2. Mauritius
Mauritius ranks second in Africa and 59th globally. The country has just one city represented in the top 1000 cities.
3. Kenya
Kenya ranks third in Africa and 63rd globally. It has three cities represented in the global 1000 cities ranking.
4. Nigeria
Nigeria ranks 4th in Africa and 64th position globally. Nigeria currently has six cities listed in the global top 1,000 with Lagos solidifying its position among the global top 100 cities by maintaining the top spot in West Africa.
5. Egypt
Egypt climbed from the 81st position to the 66th position globally and currently maintains its 5th position in Africa. The country has two cities in the top 1,000.
6. Cape Verde
The country has maintained its position at 78th globally and is ranked at 6th position in Africa. It also has two cities listed in the top 1000 cities.
7. Senegal
Senegal is ranked 86th place globally and 7th in Africa. It has just one city represented in the global 1000 cities ranking.
8. Namibia
Namibia is ranked in 87th place globally and 8th position in Africa. It has just one country represented in the global 1000 cities ranking.
9. Ghana
Ghana is currently placed in 88th position globally and 9th in Africa. It has just one city represented in the global 1000 cities ranking.
10. Tunisia
Tunisia moved up in ranking to 90th place. In Africa, Tunisia now holds the 10th position and has two cities represented in the global 1000 cities ranking.
11. Morocco
Morocco moved one place up to rank 92nd globally. It has remained stable at 11th in Africa with four cities represented in the global 1000 cities ranking.
12. Uganda
Uganda ranks 95th globally and 12th in Africa. The country experienced growth after setbacks in 2022 which made it exit the Index. It has one city represented in the global 1000 cities ranking.
13. Rwanda
Rwanda ranks in the 98th position globally and 13th in Africa. It has just one city represented in the global 1000 cities ranking.