Lagos has maintained its position as Africa’s premier startup hub for the fifth consecutive year, climbing six places to rank 70th globally in the StartupBlink Global Startup Ecosystem Index 2026. The city is home to 987 startups, representing nearly 67% of all tracked startups in Nigeria, with an ecosystem valuation of $17.8 billion.
Lagos remains the continent's highest-valued ecosystem, boasting four homegrown unicorns: Interswitch, Flutterwave, Moniepoint, and mobility fintech Moove. This concentration of high-value tech firms keeps Nigeria's commercial capital well ahead of other major African cities.
Cape Town Overtakes Johannesburg
Cape Town emerged as the standout performer in the 2026 index, climbing 24 places to rank 114th globally. This growth of 39.0% allowed Cape Town to overtake Johannesburg, which remained flat at 122nd globally with a modest 8.8% growth rate, down from 42.4% in the previous cycle.
Cape Town's rise was propelled by significant funding rounds, including Naked Insurance raising $38 million in a Series B2 round and payments infrastructure firm Stitch closing a $55 million Series B. The city also hosted OpenAI's inaugural AI Innovation Forum, solidifying its position in edtech, biotechnology, and healthtech.
Cairo Holds Global Top 100 Spot
Cairo slipped nine places to rank 99th globally after recording a modest 0.7% growth. Despite the decline, Cairo remains the only other African city alongside Lagos to secure a spot in the global top 100.
Egypt's capital is anchored by its sole unicorn, MNT-Halan, which has raised over $1 billion. To support further growth, the Egyptian government introduced the Egypt Startup Charter in 2026, aiming to mobilize $1 billion in public-private financing over five years.
Nairobi Slows Down as East and North Africa Shift
Nairobi dropped nine places to rank 116th globally, recording a growth rate of just 3.2%. While Nairobi remains home to major players like M-KOPA and ranks 22nd globally in agri-tech, its ecosystem is highly centralized, measuring 36 times larger than Mombasa, Kenya's second-ranked hub.
In East Africa, Kampala climbed 16 places to rank 285th globally on 34.1% growth, supported by Uganda's national ecosystem growth of 32.5% and the launch of the Uganda Deep Tech Centre of Excellence in 2025. Meanwhile, Accra grew 25.2% to rank 246th globally, though Ghana's national ranking fell six places to 87th.
In North Africa, Tunis grew 22.8% to rank 330th globally, while Tunisia's national ecosystem grew 36.6% to become the region's second-ranked country behind Egypt. Casablanca grew 23.1% to rank 318th globally, with Morocco's national ecosystem valued at approximately $1.1 billion.
Seychelles Enters the Top Ten
Victoria, the capital of Seychelles, secured the eighth spot on the continent, ranking 288th globally. Despite its small domestic market, Victoria has developed an internationally oriented fintech and digital services hub, featuring prominent platforms such as OKX, XT.COM, and Cellula.
While the broader Middle East and Africa region grew by 20.2%—nearly double the global average of 10.3%—capital distribution remains highly concentrated. In July 2026, 47 African startups raised a combined $102.2 million, but the top 10 recipients accounted for $88.85 million, representing 86.94% of the total funding.
