Baobab Network Archives – CEO East Africa

Ugandan Startups Raise USD 19M in 2024.

Jonathan N. LubwamaBusiness & Markets Entrepreneurship News & Analysis The Big Story The Executive TravelerJanuary 15, 2025January 20, 2025

Ugandan startups raised $19m in 2024, bouncing back from the lowly $4.8m that they raised in 2023 as per Africa: The Big Deal database. Africa: The Big Deal database is a database that captures African startups’ funding since 2019. For a startup to be classified as African, it must be operating in Africa with an HQ on the continent, or one with an HQ outside Africa but with African founders building for Africa. The database also captures publicly disclosed deals or those shared by investors/founders. It captures deals from $100k since 2021. The $19m raised in 2024 is way off…

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Ugandans Excelling Abroad: Inside the Mind of Christine Namara.

Jonathan N. LubwamaBusiness & Markets The Big StoryJuly 18, 2024August 12, 2024

“Do you know Christine Namara?” Godfrey Mutabazi, the founder of Karaa, an e-mobility startup in Uganda, asked me around 2022. “No, I don’t. Why do you ask?” I replied. “She wrote the investment memo of my startup as part of Dream VC!” Mutabazi explained. But this was the first time I had heard about Namara. I had been in venture capital for about two years and had built a strong database in my brain of people in venture capital, especially those in East Africa. But Namara was entirely unknown to me. I was intrigued. For starters, Namara was a Ugandan…

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