As startup and innovation culture deepens across the continent with success stories ranging from big-ticket funding rounds to a billion-dollar IPO, new businesses are starting up everywhere.
But which cities are leading the way? RS Components have analysed a series of metrics to reveal the startup capitals of Africa.
RS Components looked at the number of companies, the percent of companies with VC funding, the number of companies per investor and the average time to start a business, amongst other metrics. Once all metrics were sourced, they were assigned a score based on how valuable they were considered to be – this valuation was used to form a score for each metric for every city.
These scores were added together to create an overall score, which is what each city was ranked by.
You can find the top ten startup capitals of Africa below.