A new report by Black Founders Fund impact shows promising growth in African tech ecosystem.
The Black Founders Fund Alumni Summit, held at iHub in Nairobi, last week showcased the unveiling of the BFF Impact Report, highlighting the sign cant progress and success of Black-led startups across Africa.
This annual event brought together 45-50 alumni from across the continent including Kenya, Nigeria, South Africa, Uganda, to celebrate their achievements and discuss the future of Africa’s digital economy, with a spotlight on the role of these startups in driving innovation, job creation, and scalable business growth.
The BFF Impact Report offers a comprehensive look at the remarkable impact that targeted support for black entrepreneurs has had on the African tech ecosystem.
The report reveals that BFFsupported startups have collectively raised $379 million, cre lated more than 6,000 jobs, and experienced 61 per cent faster growth than their peers, underscoring the importance of strategic investment in fostering sustainable innovation.
Through non-dilutive funding, mentorship, and networking, the Black Founders Fund has empowered entrepreneurs to overcome barriers, scale their businesses, and contribute to Africa’s digital transformation.
The BFF Impact Report demonstrates the pivotal role of the program in strengthening the continent’s startup ecosystem, enabling businesses to compete globally and attract significant investment.
Agnes Gathaiya, Country Director, East Africa, Google for Startups, remarked: “The Black Founders Fund is not just about financial support—it’s about creating an ecosystem of innovation, job creation, and opportunity.
The BFF Impact Report reflects the incredible progress Black entrepreneurs have made, and how the right resources can empower them to lead Africa’s digital future.
The impact we are seeing today will set the stage for an even more vibrant African tech landscape tomorrow.” Despite Africa’s growing recognition as a hub for innovation, black entrepreneurs continue to face substantial barriers, with access to capital remains a key challenge.
African startups raise less than one per cent of global venture capital, and womenled and marginalised entrepreneurs are particularly underrepresented.
Limited access to mentorship, networks, and markets exacerbates these difficulties, often hindering talented entrepreneurs from scaling their businesses.
However, initiatives like the Black Founders Fund are driving systemic change. Through non-dilutive funding, mentorship, and an expansive network, the BFF has empowered over 220 startups, enabling them to scale faster and break down these barriers.
Mariama Boumanjal, Black Founders Fund Manager Eu – rope, Google for Startups, said: “The BFF Impact Report proves that with the right support, Black founders can not only overcome these challenges—they can lead the way in innovation, job creation, and economic development.”
