Forty startups across the continent raised more than $272 million in funding last month through deals worth at least $100,000. The figure marks a clear rise from $174 million in January and is slightly above the $254 million monthly average recorded over the past year.

Despite the rebound, most of the money went to only a few companies. Six startups accounted for about 80 percent of the total funding raised in February, highlighting how capital in Africa’s tech sector remains concentrated in larger ventures.

Among the biggest deals was Spiro, a Benin-based electric mobility company, which secured $57 million in debt financing across two transactions. Egyptian online grocery platform Breadfast raised $50 million in a pre-Series C round, while ride-hailing platform GoCab in Côte d’Ivoire announced $45 million in combined debt and equity funding.

Other significant deals included Terra Industries in Nigeria, which added $22 million to a previously announced funding round, education group Enko Education in South Africa with $22 million in debt, and South African fintech lender Lula, which secured $21 million from Dutch development finance institution FMO.

Equity investments accounted for 54 percent of the capital raised in February, while debt financing made up about 45 percent, showing that startups are increasingly turning to alternative funding structures as venture capital remains cautious.

From a regional perspective, West Africa attracted the largest share of funding, bringing in 53 percent of the total, followed by North Africa with 24 percent and Southern Africa with 21 percent.

Egypt led the continent with $64 million in funding, followed by Benin with $57 million, Côte d’Ivoire with $45 million, and South Africa with $44 million.

One notable shift was the sharp drop in East Africa’s share of funding, which fell to just three percent in February. The region had previously dominated Africa’s startup ecosystem, accounting for 34 percent of total funding in 2025.

With February’s rebound, African startups have now raised more than $446 million in the first two months of 2026, slightly ahead of the $417 million recorded during the same period in 2025.

The figures suggest that while investor activity has stabilised after a slow January, the continent’s startup funding environment remains uneven and heavily dependent on a small number of large transactions.

First Asset Management investment management rating just got an upgrade to ‘AA’ from ‘AA-’ by DataPro and affirmation of A+(IM) by Agusto & Co. This reflects how we are continuously improving to serve our investors better. Our funds levelled up too as Agusto & Co upgraded our First Asset Money Market Fund rating to A+ (f) (up from Aa‑(f)).

What its means for customers

It means you are investing with a firm that is getting stronger, smarter, and more disciplined. Our upgraded rating recognizes our solid performance track record, the strength of our parent financial group, and the systems we have put in place to manage investments responsibly.

We have also improved our governance and decision-making structure, with experienced professionals leading well-defined investment and risk committees. Behind the scenes, our team of seasoned investment experts constantly monitor markets, manage risks, and position portfolios to navigate volatility and capture opportunities.

At the same time, we have strengthened our risk management and compliance framework to ensure that everything we do meets global best practices. In simple terms, it means your money is being managed with discipline, transparency, and strong oversight.

Independent rating agencies — Agusto & Co and DataPro Limited recognize these improvements. Their ratings highlight our commitment to responsible asset management, strong governance, and operational systems designed to support stable long-term performance.

But beyond the ratings, what really matters is helping you build wealth over time.

That is why we offer a range of investment plans designed for different goals — whether you are just starting your investment journey, looking to grow your portfolio, or aiming to build long-term financial security.

If you are part of the next generation of investors, this is your moment to start early and stay ahead. The earlier you begin investing, the more time your money has to grow.

Jump on the First Asset investment journey. Explore our investment plans and start building your future with a firm that is getting stronger.

The National Institute of Credit Administration (NICA) has conferred its Professional Fellowship on Mrs. Uche Uzoebo, Managing Director of Shared Agent Network Expansion Facilities (SANEF).

The recognition was announced in Lagos during the investiture of Dr. (Mrs.) Markie Idowu as the Institute’s new President.

In his welcome address, Prof. Chris Onalo, Registrar/CEO of NICA, noted that the National Institute of Credit Administration distinguishes itself from other professional bodies through its unwavering commitment to advancing credit management, promoting professionalism, and empowering Nigerians with credit literacy.

“Unlike many other institutes, NICA recognizes that credit management is a lifeline of commerce, influencing every aspect of business, social, and economic life. Through this commitment, the Institute continues to shape Nigeria’s economic future towards sustainable growth,” he stated.

The Fellowship represents the Institute’s highest professional distinction and is conferred on individuals whose leadership has significantly strengthened Nigeria’s credit environment, institutional governance frameworks, and the integrity of the financial system.

This recognition also comes at a significant moment globally as the world commemorates International Women’s Day, underscoring the growing recognition of women’s leadership and contributions across industries, particularly in finance, governance, and economic development.

The ceremony brought together senior financial sector executives, policymakers, regulators, and distinguished guests to celebrate excellence in credit administration and professional practice.

The Institute described Mrs. Uche Uzoebo as a seasoned business executive and financial services leader with over two decades of professional experience spanning banking, digital payments, and financial services.

A proven change agent, she brings deep expertise across digital payments, financial inclusion, agency banking, product and business development, merchant acquiring, as well as corporate, commercial, and retail banking.

Her leadership has been instrumental in advancing secure and inclusive digital financial services, strengthening payment systems, and expanding last-mile access to financial services across underserved communities in Nigeria.

Through SANEF and related initiatives, she has supported economic empowerment and financial inclusion by expanding agent networks, promoting financial literacy, and championing innovative technology-enabled solutions.

Passionate about gender inclusion and women’s economic empowerment, Uzoebo is also a gender specialist and advocate with a strong focus on supporting women entrepreneurs and breaking structural economic barriers.

As a certified trainer, she designs and delivers high-impact capacity-building programmes for individuals, youth, women, and organizations, enabling sustainable growth and improved performance.