# African startup equity funding rises 23 percent as debt falls

_Published Wednesday, October 7, 2026 at 5:19 AM EDT · Capital · Latest · Tier 2 — Notable_

![African startup equity funding rises 23 percent as debt falls — Primary](https://cdn.businessday.ng/wp-content/uploads/2026/10/IMG-20261007-WA0004.jpg)

African startups raised $1.5 billion in equity during the first nine months of 2026, up 23 percent year-on-year, Business Day reports using Africa: The Big Deal data. Debt financing fell 33 percent to $669 million, while combined funding reached $2.16 billion against $2.24 billion a year earlier.

Energy startups' debt financing fell to $93 million from $585 million, helping explain the broader decline in borrowing. Third-quarter equity reached $580 million, including Moove's $250 million Series C in August. Excluding that deal, quarterly equity would still have been about 40 percent higher than a year earlier. A single large energy debt facility could change the year's funding mix.

## Sources

- [Business Day](https://businessday.ng/technology/article/africa-startup-funding-enters-equity-era-after-three-years-of-debt-growth/)

---
Canonical: https://techandbusiness.org/newswire/Bxecbf5lMqVfe3P-JgF6hQ
Published: 2026-10-07T09:19:39.188Z
Story chronology: 2026-10-07T07:51:59.000Z
Retrieved: 2026-10-07T10:57:00.979Z
Publisher: Tech & Business (techandbusiness.org)