Start-ups led by women in Africa are facing significant challenges in securing funding, especially in later-stage investments, according to a report by Africa: The Big Deal.

• Only 13% of equity deals since 2019 involved a female CEO, securing just 5% of total funding.
• The report's co-author, Max Cuvellier Giacomelli, highlights a growing gender funding gap across 2,808 deals totaling over $14 billion.
• In 2025, women-led ventures accounted for a mere 0.9% of funding despite representing 9% of deals.