- Africa startup funding rebounded to about US$3.8 billion in 2025, but startups with at least one female founder received under 10% of capital.
- Women were involved in roughly 19% of equity deals yet captured only about 10% of equity funding, showing a persistent value gap.
- Female-CEO-led startups were most excluded, taking less than 1% of 2025 capital despite around 9% of deals.
- The gap widens at later stages (Series B+), while early-stage funding is comparatively less skewed toward male-led teams.
Read More
The investment landscape in Africa for 2025 illustrates a modest rebound in overall funding activity, including growth in average deal size and increased investor participation; yet structural inequalities persist, especially in capital allocation to female founders. While equity funding grew in deal count and value, firms with female founders remain marginalized, particularly as companies scale.
Briter’s ‘‘Africa Investment Report 2025’’ reports that out of US$3.8 billion disclosed funding, less than 10% went to startups with at least one female founder. ([briter.co](https://www.briter.co/insights/reports/africa-investment-report-2025?utm_source=openai)) Similarly, the ‘‘Africa Tech Venture Capital Report’’ from Partech confirms that while 19% of equity deals involved female founders, only around 10% of equity funding was captured by them. ([partechpartners.com](https://partechpartners.com/africa-reports/2025-africa-tech-venture-capital-report?utm_source=openai))
Female‐led firms—specifically those with women CEOs—show even lower capital access. From 2019 to 2025, only 13% of tracked equity deals involved a woman CEO and they secured just about 5% of total invested capital. In 2025, despite comprising about 9% of deals, they received merely ≈0.9% of funding. ([allafrica.com](https://allafrica.com/stories/202507090449.html?utm_source=openai))
The gender funding gap is most pronounced at growth stages. Series B and C rounds involving female co-founders represent about 14% of deals but only 11% of capital. For female CEOs, participation and capital share drop further. In contrast, early‐stage/pre-seed capital shows a less skewed distribution: female co-founder startups accounted for ~28% of deals and 24% of early‐stage funding; women CEOs secured ~15% of deals and 10% of early‐stage capital. ([allafrica.com](https://allafrica.com/stories/202507090449.html?utm_source=openai))
Several compounding factors appear in multiple reports: geographic concentration (Big Four countries: Nigeria, Kenya, Egypt, South Africa dominate funding flows) ([briter.co](https://www.briter.co/insights/reports/africa-investment-report-2025?utm_source=openai)); sectoral bias, with female founders underrepresented in capital‐intensive sectors like fintech infrastructure, mobility, connectivity, logistics, etc. ([partechpartners.com](https://partechpartners.com/africa-reports/2025-africa-tech-venture-capital-report?utm_source=openai)); investor network effects, risk perception, collateral requirements, and limited opportunity to scale. ([allafrica.com](https://allafrica.com/stories/202507090449.html?utm_source=openai))
Strategic implications are significant: without deliberate interventions, women founders will continue to be shut out of value capture in high growth opportunities. Investors seeking alpha may miss return upside from diverse founding teams. Policymakers must design enabling environments: reform finance access, target growth‐stage support for women, improve representation among decision makers, and foster sectorally diverse female representation. Open questions remain: What precise deal structures help bridge the gap? Do blended finance and debt instruments alter dynamics meaningfully? How does CEO gender interact with co‐founder gender in outcomes?
Supporting Notes
- In 2025, only 10% of equity funding in Africa went to startups with at least one female founder, with such startups making up 19% of equity deals. ([partechpartners.com](https://partechpartners.com/africa-reports/2025-africa-tech-venture-capital-report?utm_source=openai))
- Female CEOs were involved in just 13% of all tracked equity deals from 2019 to mid-2025, securing only 5% of total capital. In 2025, despite making up ~9% of deals, funding to female CEOs dropped to 0.9%. ([allafrica.com](https://allafrica.com/stories/202507090449.html?utm_source=openai))
- For Series B and C rounds, female co-founded startups accounted for approximately 14% of deals but obtained just 11% of the funding; female CEO-led companies fared worse. ([allafrica.com](https://allafrica.com/stories/202507090449.html?utm_source=openai))
- Early-stage/pre-seed level is less skewed: female co-founded startups had 28% of deals and 24% of early-stage capital; female-CEO startups ~15% of deals and 10% of capital. ([allafrica.com](https://allafrica.com/stories/202507090449.html?utm_source=openai))
- The ‘‘Big Four’’ markets (South Africa, Kenya, Egypt, Nigeria) dominated African startup funding in 2025, collectively capturing over 80% of disclosed capital, while other markets saw limited share, especially for female founders. ([briter.co](https://www.briter.co/insights/reports/africa-investment-report-2025?utm_source=openai))
- Sectors like agritech and insurtech approached or achieved near parity in female deal count or funding share; other sectors remain largely closed to female‐led ventures (e.g., logistic tech, connectivity). ([partechpartners.com](https://partechpartners.com/africa-reports/2025-africa-tech-venture-capital-report?utm_source=openai))