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Lifestyle - June 24, 2021

20 Amazing Business Facts from Africa & the World

Here are some amazing business facts from Africa and the world. If it weren’t verifiable, some of these business facts would be hard to believe.

1. Uganda and Botswana have the highest percentage of women entrepreneurs

The MasterCard Index of Women Entrepreneurs 2017 listed two African countries, Uganda (34.8%) and Botswana (34.6%), as having the highest percentage of women entrepreneurs globally.

2. South Africa is the No.1 tech ecosystem in Africa

A recent report by fDi Intelligence ranks South Africa as Africa’s top startup ecosystem for having the highest fundraise, the most developed VC networks and the continent’s oldest startup incubator. 

3. Nigeria has the highest number of startups in Africa

According to Briter Bridges, Nigeria has over 750 startups. The highest on the continent.

4. The most popular startups in Lagos, Nigeria are PiggyVest, PalmPay and Hazina. 

5. The Netherlands is Africa’s biggest investor

The United Nations Conference on Trade and Development (UNCTAD) states that the FDI stock data through 2018 shows the Netherlands overtook France as the largest foreign investor in Africa

6. Nigeria remains Africa’s largest economy

Nigeria has the biggest gross domestic output in Africa, with a GDP of 443 billion dollars in 2020. Egypt’s GDP was worth 362 billion dollars, making it the continent’s second-highest. Following South Africa, the continent’s third-largest economy, Algeria and Morocco, both in North Africa, were next on the list.

7. East Africa is the fastest-growing region on the continent

According to the AfDB, East Africa is Africa’s fastest-growing region, despite COVID-19 disruption.

8. Only 10% of Female-led startups raised $1 million in 2020

A 2020 TechPoint report estimated that only 10% of west Africa-focused startups with at least one female co-founder successfully raised $1 million or more in the last decade.

9. The first Apple logo was pretty far from what we have today

Apple’s logo back in 1976 originally featured Sir Isaac Newton sitting under a tree, with an apple about to fall on his head, and a text on the frame of the logo that reads “Newton…A mind forever voyaging through strange seas of thought…alone”.

10. A “Phantom Vibration Syndrome” is when you feel your phone vibrate but it actually wasn’t.

Research suggests this occurs when someone is being over-involved with their phone

Read the full list (on page 68) in our latest edition below.

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