Class of 2016: What surviving a decade actually requires

Ten years ago, one could easily count the African startups that raised venture capital in a single year. In 2016, 77 startups raised $367 million in venture funding, according to Partech. Nigeria, South Africa, and Kenya accounted for 79.4% of that funding. Financial inclusion attracted the largest share of capital at $206.3 million, or 56.2% of total funding, with fintech accounting for 19% of that investment. By today’s standards, these numbers look almost impossibly small. But they captured a technology…