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Startups in Ghana Smash Funding Records in 2025: Lessons from a $120 Million Boom for Global Entrepreneurs

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Andrew Takyi-Appiah, MD of Zeepay

Ghana’s startup ecosystem has marked a pivotal year with $120 million raised in 2025, a 95% increase in deal volume from 2023, spanning 31 equity, debt, and grant rounds.

This surge positions Ghana among Africa’s top five investment hubs, contributing to the continent’s 33% year-on-year funding growth to over $3 billion. Amid global economic headwinds, Ghanaian founders have channeled capital into solutions addressing local gaps in finance, agriculture, and logistics, offering scalable models for emerging markets worldwide.

The rebound follows a funding winter in 2023-2024, with early 2025 data showing $8 million across three equity rounds by May and an additional $4.25 million by June. Fintech captured 43% of investments, totaling $54.6 million, driven by demand for mobile money and remittance tools in a market where 40% of adults remain unbanked. Agriculture and foodtech followed with $25 million, supporting smallholder farmers amid climate pressures. Healthtech and logistics each secured about 15%, focusing on telemedicine and supply chain efficiencies, while e-commerce rounded out 10% for artisan marketplaces.

SectorFunding ShareKey Focus Areas
Fintech43%Mobile payments, remittances, SME credit
Agritech/Foodtech21%Farmer market access, yield optimization
Healthtech15%Rural telemedicine, genomic data tools
Logistics15%Cross-border trade, cold-chain storage
E-commerce6%Online platforms for local goods

This diversification reflects Ghana’s shift from fintech dominance to balanced growth, with 83% of Q1 African funding concentrated in Nigeria, Kenya, South Africa, and Egypt—leaving room for Ghana’s niche in practical innovations. A new policy mandates 5% of pension assets for venture capital, injecting up to $300 million annually and bolstering local funds like the Venture Capital Trust Fund.

Standout performers include Zeepay, a mobile financial services firm that raised $15 million to expand remittances, serving unbanked populations across West Africa. Complete Farmer, an agritech platform, secured $10 million in debt financing to connect smallholders with markets, building on $7 million prior funding. OZÉ, an SME financing app, added $8 million, enabling inventory management for 50,000+ businesses. Jetstream Africa drew $12 million for logistics, streamlining supply chains with international backers like Partech Africa. Oze, recognized in the 2025 Norrsken Impact 100, supports systemic SME growth through tailored financing.

These companies emerged from founders tackling everyday barriers: unreliable banking for Zeepay’s Andrew Takyi-Appiah, cocoa farm inefficiencies for Complete Farmer’s Desmond Koney, and consulting gaps for OZÉ’s Philip Agyeman. Their traction—processing billions in transactions and boosting farmer yields—has drawn global venture capital, with 373 investors active in 521 rounds.

Enablers include regulatory reforms like e-cedi digital currency adoption and hubs such as Meltwater Entrepreneurial School of Technology, which trained 100+ AI-focused startups. The Africa Ecosystem Catalysts Facility allocated $4 million for early-stage ventures in Ghana, Nigeria, and Tanzania.

Yet challenges persist: infrastructure deficits and currency volatility eroded 20% of revenues in devalued markets. Female-led startups received under 2% of funding, highlighting equity gaps.

For global entrepreneurs, Ghana’s model underscores prioritizing traction in underserved sectors—fintech rails processed 80% of 2024 African VC alongside logistics and energy. Events like Tech in Ghana 2025 and ALX Ventures Demo Day facilitate cross-border ties, while programs like Standard Chartered’s Futuremakers empowered 500 women-led initiatives. As Africa eyes $1 billion in H1 2025 funding, Ghana’s $120 million haul signals a blueprint for resilient scaling in high-problem, high-potential environments.

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‘Afritude’ to the World! Meet The Woman Buiding Africa’s First Global Sports Brand

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For decades, African nations have produced world-class athletes and champions on the global stage. But according to one entrepreneur, the continent has yet to produce the one thing that could transform its sports economy: a world-class brand of its own.

Nina Baksmaty Djamson, founder of Afritude, is on a mission to change that. Her company is attempting to disrupt the global sports industry through fashion, designing and manufacturing athletic apparel on the African continent for African teams—and, she hopes, eventually for the world.

“Africa has produced world champions. Now it’s time to produce world-class sports brands,” Djamson wrote in a social media post announcing the venture. “For too long we’ve worn everyone else’s story. Afritude is our attempt to change that. Not just to play the game. To own it.”

From Consumer to Creator

In a video accompanying the announcement, Djamson laid out the problem she sees at the heart of African sports culture.

“My name is Nina, and I’m the woman trying to disrupt the global sports industry through fashion,” she said. “For decades, every time we wear Nike, Adidas, or Puma, we are promoting somebody else’s culture, building someone else’s economy, and advertising someone else’s story, often for free.”

The question she asked herself was simple but profound:

What would it look like if Africa built its own?”

The answer is Afritude.

Designed in Africa, Made in Africa

According to Djamson, Afritude has already designed World Cup jerseys for three African countries. Crucially, she says more than 90% of the company’s spending has gone directly back to people on the African continent—from production and manufacturing to creative talent.

“This is not charity,” Djamson emphasized. “This is ownership. This is dignity. This is representation.”

The model stands in stark contrast to the traditional sports apparel industry, where global giants manufacture in low-cost countries outside the continent while selling branded merchandise to African consumers. Afritude aims to keep both the creative and economic value within Africa.

Playing With Dignity

Before becoming a major company, Afritude is already preparing to give back. Djamson announced that the brand plans to donate more than a thousand “chain guards and chain socks” to children.

“Every child deserves to play with dignity,” she said.

The gesture reflects a broader philosophy: that sports apparel is not just about performance or fashion, but about self-respect and representation. For young athletes across the continent, wearing locally designed and locally made gear could carry a different kind of meaning.

An Invitation to Own the Game

Djamson closed her announcement with a call to action directed at Africans everywhere.

“And if you believe Africa should build for itself, wear for itself, and profit from itself, welcome to Afritude,” she said. “Don’t forget to get your jersey.”

The brand’s website, www.Afritudeclo.com, features jerseys and apparel that draw on African aesthetics, colors, and design traditions. While still in its early stages, Afritude represents an ambitious attempt to carve out space for African-owned, African-made products in a global sports market dominated by Western and Asian conglomerates.

A Bigger Movement

Djamson’s initiative aligns with a growing pan-African movement toward economic self-determination. From music and film to fashion and technology, a new generation of African entrepreneurs is asking not just for a seat at the table, but for the ability to build their own tables.

In sports, where Africa’s talent has long been celebrated while its economic returns have often flowed elsewhere, Afritude offers a different vision: one where the continent’s athletes wear their own stories, advertise their own economies, and profit from their own success.

“Africa has produced world champions,” Djamson wrote. “Now it’s time to produce world-class sports brands.”

The game, she believes, is just beginning.

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US Eyes AI, Drones, and Rural 5G as Next Frontier in Ghana Partnership

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The United States is positioning emerging technologies including artificial intelligence, drone logistics, and rural 5G connectivity as the next frontier in its bilateral relationship with Ghana.

The move signals a strategic shift from traditional aid toward investment-driven partnership, Chargé d’Affaires Rolf Olson has announced.

Speaking at a celebratory event marking the 250th anniversary of American independence, Olson declared that the U.S.-Ghana relationship is entering a new phase defined by “not dependence, but resilience” and “a two-way exchange of investment, innovation, and expertise.”

Chargé d’Affaires Rolf Olson delivering remarks at the 250th Independence Day Celebration in Accra on June 10, 2026.

While acknowledging ongoing changes to the US foreign assistance framework, he emphasized that America remains the largest financial contributor to health emergencies across Africa — including $200 million to the current Ebola response — but pointed to commercial technology ventures as the model for future collaboration.

“As we greet this next phase of our partnership, we see enormous potential for U.S.-Ghana collaboration and commerce in emerging sectors – from digital technology to artificial intelligence, from advanced agriculture to cutting-edge energy techniques,” Olson told an audience of government officials, diplomats, and business leaders in Accra. “Ghana’s young innovators are positioned well to seize these types of opportunities.”

The Chargé d’Affaires highlighted concrete examples of technology-driven partnerships already underway.

He cited Zipline’s drone delivery network, which has completed 800,000 medical deliveries in Ghana since 2019, saving an estimated 10,000 lives, including 1,600 through emergency transport of snake anti-venom alone.

He also revealed US support for deploying “cutting-edge wireless technology at hundreds of base stations across Ghana,” aimed at expanding rural connectivity and bridging the digital divide across West Africa.

Olson framed the vision within a broader narrative of economic self-sufficiency, noting that more than 100 American companies are active in Ghana across energy, technology, and agriculture.

He pointed to Newmont, the single largest taxpayer in Ghana, where 99% of the workforce, including the Country Manager, is Ghanaian. Bilateral trade in goods and services reached approximately $4 billion last year, a figure Olson said “can grow.”

The diplomatic push comes alongside deepened security cooperation. Olson confirmed that just this week, US law enforcement handed over Sedina Tamakloe Attionu to Ghanaian authorities, fulfilling an extradition request, while Ghana has extradited multiple individuals wanted in the US for cyber-related fraud that has stolen tens of millions of dollars from American victims.

Reflecting on the historical ties that bind the two nations, from Richard Nixon meeting Martin Luther King Jr. in Accra in 1957 to Ghana being the first country to welcome Peace Corps volunteers in 1961, Olson concluded that the relationship is now mature enough to pivot toward technology, trade, and mutual resilience.

“Two hundred and fifty years into America’s independence and nearly 70 years into Ghana’s, we look to the future with optimism, confidence, and renewed purpose,” he said.

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How Ghana Is Selling Itself as Africa’s Factory Floor for Belarus

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President John Dramani Mahama has positioned Ghana as a manufacturing and distribution gateway for Belarusian industry, pitching the country as a strategic entry point to Africa’s unified market of 1.4 billion people under the African Continental Free Trade Area (AfCFTA).

Speaking at the maiden Ghana–Belarus Business Forum in Minsk, President Mahama announced that Belarusian manufacturers of mining equipment will visit Ghana next week, following an agreement between both nations.

The visit signals a potential shift in how Belarusian heavy industry could serve African markets – not merely through exports from Eastern Europe, but through locally established operations within Ghana.

“The investors who establish operations in Ghana gain access not only to a domestic market of 34 million people, but also to the wider African market through the AfCFTA,” President Mahama told the forum. He noted that the trade bloc covers 1.3 billion people with a combined gross domestic product of US$1.3 trillion.

The President’s pitch rests on three pillars: market access, infrastructure investment, and regulatory stability. He highlighted Ghana’s US$10 billion five-year Big Push Infrastructure Programme, which prioritizes roads, railways, ports, airports, energy systems, and logistics networks.

These investments, he said, are designed to improve connectivity, reduce business costs, and enhance competitiveness for firms that establish local manufacturing or assembly operations.

“Investors today seek certainty, stability, and market access, and I can assure you Ghana provides all these three,” Mahama stated. “Our political credentials are strong, our legal and regulatory systems are transparent, investor protection is robust, and we guarantee repatriation of profits.”

The President also noted that Belarusian companies possess relevant expertise in transport infrastructure, power systems, industrial parks, logistics, road construction, railway development, and renewable energy – all sectors where Ghana is actively seeking foreign partnership.

For Belarus, a nation under sustained Western sanctions, deepening economic ties with Ghana offers an alternative channel to participate in one of the world’s fastest-growing continental markets. Rather than exporting finished mining equipment from Minsk, Belarusian manufacturers could establish assembly plants or joint ventures in Ghana, taking advantage of AfCFTA rules to distribute across the continent without the tariff barriers that would apply to direct exports from Europe.

President Mahama framed the opportunity in unequivocal terms: “For businesses seeking a strategic gateway into Africa, Ghana remains one of the continent’s most attractive destinations.”

The upcoming visit by Belarusian manufacturers will test whether that pitch translates into concrete investment. Industry observers will be watching for announcements on local assembly facilities, technology transfer agreements, and the scale of Belarusian commitment to Ghana’s industrialization agenda.

If successful, the partnership could serve as a template for how other non-African manufacturing nations – particularly those from Eastern Europe and Asia – use Ghana as a beachhead to serve the continent’s rapidly growing demand for industrial equipment, infrastructure inputs, and heavy machinery. If not, the visit may produce little more than diplomatic communiqués.

For now, Ghana has made its case. The next move belongs to Belarus.

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