South Africa's start-ups raise the highest amount in venture capital funding but Nigeria gets the highest number of investments

A techie in Nairobi designing a 2D mobile game. (Reuters/Thomas Mukoya)

As the venture capital sector expands and matures across the continent more jobs are being created more frequently, says a new venture capital study. In particular the two largest economies, Nigeria and South Africa are attracting more investment that helps drive interest beyond their own borders.

With better funding options, as witnessed by Nigeria’s raising $1.2m seed capital, there is a suggestion that local start-ups are no longer just gamblers trying their luck. Young entrepreneurs on the continent have started to create jobs for themselves and many others by establishing ventures that are meeting the demands of their markets.

Read more: South Africa’s start-ups get the biggest fund rounds but Nigeria gets more investments – Quartz