Lagos is officially the African city with the most valuable start-up ecosystem.
As reported by Disrupt Africa, the Nigerian city’s local entrepreneurship scene is valued at US$2 billion and comprises 400 to 700 start-ups, according to the Global Start-up Ecosystem Report and Ranking 2017.
This far surpasses Cape Town – which, even though it has the largest ecosystem on the continent with between 700 and 1 200 active tech start-ups, is worth a considerably smaller US$172 million.
At 59%, Lagos has the ninth-highest rate of founders who hold an undergraduate degree, while 93% have a technical background – ranking third highest globally.
Meanwhile, Johannesburg’s start-up ecosystem (valued at US$1.36 billion) was recognised as having the highest global connectedness.
