African startup funding regained its colour in October 2026. According to figures compiled by Nairametrics, investors committed $324.42 million across 38 disclosed deals, erasing the slowdown seen in September. Eight other startups, including three acquisitions, did not disclose amounts, so the real total could be higher.
One name towers over the rankings. Egyptian fintech MNT-Halan mobilised $150 million, roughly 46% of the month’s total on its own. This was no ordinary funding round: the group debuted on the Egyptian Exchange on 20 October, with its shareholder MNT Investments selling 20% of the company’s local business. The deal values the firm at around $770 million. Founded in 2018, the lending, payments and digital banking super app reported 1.9 million active users in Egypt at the end of June.
That success puts North Africa far ahead of the rest of the continent. The region accounts for $208.93 million, more than 64% of the total, from just nine deals. East and West Africa follow with just over $50 million each, but spread across more transactions: ten for the former and eleven for the latter. Southern Africa brings up the rear with $13.3 million.
In French-speaking Africa, Senegal’s Afreenergy Solar stands out in fifth place with $13.3 million. Here too, the type of financing matters: it is a €12 million senior debt facility from REPP 2, a fund managed by UK-based Camco. A specialist in rooftop solar for businesses, the company plans to refinance its existing installations and expand its capacity in Senegal from 2.7 to 14.9 megawatts peak, with battery storage added. It is a bet on industrial customers that still rely heavily on oil.
The most futuristic deal comes from Kenya. Satlyt, a startup founded by Kenyan-American engineer Rama Afullo and based between Nairobi and Sunnyvale, California, secured $8 million in seed funding from US fund Non Sibi Ventures. Its software lets satellites process data and run artificial intelligence directly in orbit. In the long run, the company aims to coordinate computing power across satellites owned by different operators to create genuine virtual data centres in space. It has already signed memoranda of understanding with the Kenya Space Agency and Angola’s GGPEN.
These monthly figures fit into a fairly good year. According to TechCabal Insights, African startups raised $3.02 billion in the first ten months of 2026, up 14.2% year on year. Still, October is a reminder of a familiar weakness: without a handful of large deals, the total shrinks quickly, as the ten biggest captured nearly 93% of the funds.