According to the latest monthly report of the specialized platform Africa: The Big Deal, in February 2026, African startups raised a total of $272 million.
This marks a clear rebound from January, when funding totaled $174 million, and is slightly higher than the average monthly figure over the past 12 months, which is estimated at $254 million.
In detail, the funding structure remains balanced: 54% of funds were raised through equity (shareholding), while 45% were raised through debt. The number of startups announcing fundraising rounds also increased compared to January, although it remains slightly below the 12-month monthly average of 46 deals.
“After slowing in January, activity returned to expected 2025 levels in February,” the report said. This puts 2026 ahead of 2025. In the first two months of the year, African startups raised more than $446 million, compared to $417 million in the same period a year earlier.
Geographically, fundraising was concentrated in a limited number of countries. Egypt leads with $64 million, followed by Benin ($57 million), Côte d'Ivoire ($45 million) and South Africa ($44 million).
At the regional level, Western Africa clearly dominated, accounting for 53% of total funding in February, ahead of North Africa (24%) and Southern Africa (21%).
In contrast, East Africa, despite leading with 34% of funding in 2025, saw a steep decline, to just 3% in February and barely 4% in the first two months of 2026.
Overall, funding remains highly concentrated, with the month's total largely driven by a small number of deals: six startups alone accounted for nearly 80% of the funds raised.
At the same time, the number of startups announcing funding rounds has increased compared to January, but is still not fully back to its normal pace, remaining slightly below the 12-month average (46 monthly deals).