Startups attract record $120m in venture capital
The nation’s startup ecosystem has recorded its strongest year yet, attracting a record-breaking USD120 million in venture capital funding within the first nine months of 2025.
The surge, driven by growth in fintech, agritech, healthtech, logistics, and e-commerce, reflects growing investor confidence and signals the country’s expanding role in Africa’s innovation landscape.
The latest data, compiled by Africa: The Big Deal, an investment-tracking platform, shows that Ghana now ranks among the continent’s top five destinations for startup investment, behind Nigeria, Kenya, Egypt, and South Africa.
This milestone represents a sharp rebound from the funding slowdown of 2022 and 2023, when global venture activity dipped amid inflationary pressures and post-COVID corrections.
Industry analysts attribute Ghana’s strong performance to an improving regulatory environment, increased digital adoption, and the resilience of young entrepreneurs who continue to innovate despite limited resources.
“This new wave of capital demonstrates growing confidence in Ghana’s capacity to produce scalable, tech-driven solutions for African markets,” one analyst said.
At a recent Startup and Innovation Forum in Accra, the Minister for Communication, Digital Technology and Innovation, Samuel Nartey George, praised the resilience of local entrepreneurs and reiterated the government’s commitment to developing a robust digital economy.
He emphasised that Ghana must move beyond being a consumer of imported technologies to become a creator and exporter of digital solutions.
“Ghana must not only consume technology but develop and export its own digital solutions,” the Minister said, highlighting ongoing investments in digital infrastructure and youth innovation programmes aimed at positioning the country as a regional tech hub.
Among the standout funding deals of 2025 are Zeepay Ghana, which raised USD15 million in a Series A extension led by Symbiotics Investments; Complete Farmer, which secured USD10 million to scale its agritech operations; OZÉ, a Ghana-based SME fintech platform, which attracted USD8 million for regional expansion; and Jetstream Africa, a logistics startup that closed a USD12 million equity round from international investors.
However, experts caution that sustaining this momentum will require consistent policy implementation, access to affordable credit, and improved digital infrastructure.
Kweku Awotwi, former Managing Director of Tullow Ghana and now an investor in renewable startups, highlighted the need for domestic financing.
“Ghana’s startup scene has proven its creativity and resilience. What we need now is long-term local financing to match foreign capital, so we can retain more value at home,” he stated.
To build on this growth, the government has announced plans to expand the National Entrepreneurship and Innovation Programme, which aims to provide early-stage financing and incubation support for at least 500 new startups over the next two years.
Additionally, discussions are underway to establish a Ghana Startup Exchange, a digital platform that will connect investors with emerging businesses across the country. Venture capital analysts project that Ghana’s total startup funding could surpass USD150 million by the end of 2025, positioning the country among Africa’s fastest-growing innovation ecosystems.
