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.

4 April 2017
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