Nigeria has reclaimed its position as Africa's leading destination for startup funding, attracting $635 million in investments between January and September 2026. This marks a significant recovery for the country's technology sector, with funding increasing by 157% compared to the $247 million recorded during the same period in 2025.

According to Africa: The Big Deal, the latest figures represent Nigeria's strongest funding performance for the first nine months of a year since 2022. Much of this growth came from major investments in mobility, fintech and e-commerce companies.

Mobility financing company Moove secured $250 million, making it the largest contributor to Nigeria's funding total. Flutterwave followed with $100 million, while Jumia attracted $50 million and Yellow Card raised $40 million.

Together, these four companies accounted for $440 million, representing approximately 69% of the country's total startup investment. This shows that while investor confidence is returning, much of the funding continues to favour established companies.

Beyond the major deals, 77 Nigerian startups secured investments of at least $100,000, compared with 70 during the same period in 2025. Nigeria also outperformed Egypt, which raised $445 million, Kenya with $201 million and South Africa with $182 million.

Across Africa, startup investments reached approximately $2.16 billion during the nine months, although this represented a slight decline from the previous year.

Another notable development was the growing interest in mobility and transport businesses. The sector attracted $780 million, overtaking fintech, which recorded $760 million. Investments in companies such as Spiro and Moove contributed significantly to this shift.

However, fintech remained the leading sector by the number of funded startups, with 80 companies securing investments of at least $100,000.

At TheGreyIT, we believe Nigeria's return to the top of Africa's startup funding landscape reflects the strength and potential of its technology ecosystem. However, ensuring that smaller and emerging startups can access investment will be equally important for sustaining this growth.