African startups perform poorly in comparison to their global counterparts when it comes to revenues, fundraising, and job creation, according to data released by startups pitching competition Seedstars World. Three African startups were among the finalists – Tanzanian micro-health insurance startup Jamii, Rwandan female health focused e-commerce platform Kasha, and Egypt’s social ride-sharing platform Raye7. For African startups, the average figure came to little over US$4,000. Similarly, startups in Africa performed worst in terms of job creation – joined by startups from the Middle East and North Africa (MENA) region. The best performing region was Latin America at an 18.4 per cent average; while Africa’s average came to 15 per cent.

Source: The North Africa Journal April 12, 2017 06:00 UTC