Uncovering a wealth of opportunities in African startups

The NTU-SBF Centre for African Studies hosted Max Cuvellier Giacomelli, co-lead of Africa: The Big Deal, an online portal that tracks private equity deals across the continent. He told participants at a public lecture organised by CAS that after a two-year decline funding for start-ups in Africa has stabilised. In April 2025 African startups raised a total of US$343m. That was not just a solid rebound from a disappointing March, he said, but a clear signal that investors remain confident in the potential of the continent in an otherwise gloomy global economic outlook.

He also showed a heatmap of startup funding activity across the continent which put East Africa in the lead. Fintech remains the sector that attracts most investor attention in Africa followed by energy and then transport. Max Cuvellier Giacomelli is a long-time contributor to the NTU-SBF Centre for African Studies where his quarterly reports have become a regular feature.

Amit Jain presenting the Nigeria economic roadmap report published by the Centre and token of appreciation to Max Cuvellier Giacomelli.