Lagos is Africa's most valuable startup ecosystem

Lagos, Nigeria

Lagos has the most valuable startup ecosystem in Africa, with the local entrepreneurship scene worth US$2 billion, according to a new report.

The recently released Global Startup Ecosystem Report and Ranking 2017, produced by Startup Genome in collaboration with the Global Entrepreneurship Network (GEN), was based on conversations with entrepreneurs and data on startups.

No African country made the top 20, but Lagos, Cape Town and Johannesburg warranted mention in the report. At US$2 billion, the Lagos startup ecosystem is the most valuable in Africa continent, but only second after Cape Town in terms of the number of startups.

Read more: Lagos is Africa’s most valuable startup ecosystem