Zambia
Africa · Pop. 21.3M
Enterprise value · 2015–2025
Zambia grew 112.5× since 2015
Combined enterprise value of every tracked startup headquartered in Zambia that's still operating today — public and private companies combined, totalled by founding-year cohort.
Adjacent ecosystems by EV
Startup funnel
Zambia's power-law funnel
From the first cheque written to a $10B+ outcome. Each arrow shows what fraction of companies at one stage graduate to the next, tracked by founding cohort.
* C→Unicorn and Unicorn→Decacorn rates are derived from current counts (no founding-cohort data); the four mid-funnel rates use Dealroom's cohort tracking.
Academia
Zambia's academic flywheel
Companies founded by university alumni or spun out of research, plus the institutions producing the most founders tied to Zambia.
Vs. similarly-sized ecosystems
How Zambia stacks up
Peers chosen from the same Africa cluster within ±70% of Zambia's combined EV. The scatter plots growth × current size for the wider continent — outliers in the upper-right are ecosystems compounding fastest.
Top overview
Africa ecosystems — combined view
Top ecosystems in Africa ranked by combined EV. Zambia's row is highlighted.
| # | Ecosystem | Combined EV | 5-yr EV growth | Unicorns | VC invested | Tracked startups |
|---|---|---|---|---|---|---|
| 1 | South Africa | $18.8B | 8.2× | 2 | $406.5M | 969 |
| 2 | Nigeria | $18.2B | 12.5× | 6 | $227.5M | 919 |
| 3 | Egypt | $12.3B | 9.6× | 4 | $416.9M | 834 |
| 4 | Kenya | $8.9B | 10.2× | 0 | $269.6M | 520 |
| 5 | Seychelles | $3.1B | — | 1 | $15.8M | 46 |
| 6 | Senegal | $2B | 98.9× | 1 | $13.5M | 52 |
| 7 | Mauritius | $1.9B | 29.4× | 0 | $19.5M | 42 |
| 8 | Ghana | $1.6B | 5.3× | 0 | $146.9M | 193 |
| 9 | Tunisia | $1.1B | 37.2× | 0 | $5.1M | 110 |
| 10 | Rwanda | $705M | 5.8× | 0 | $13.2M | 57 |
| 11 | Morocco | $653.2M | 8.4× | 0 | $20.2M | 146 |
| 15 | Zambia | $351.5M | — | 0 | $4.4M | 43 |
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