VC fundraising favors African CEOs who studied abroad

Hi Quartz Africa readers,

Besides being the chief executives of multibillion-dollar African startups, Olugbenga Agboola of Flutterwave, and Ham Serunjogi of Chipper Cash have one other thing in common: credentials from US universities.

In 2021, 73% of the over $4 billion raised by African startups was by CEOs whose latest degrees were masters’ or MBAs obtained from a university outside of Africa, according to LinkedIn profile analysis by Africa: The Big Deal.

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Originally published on Quartz : Original article

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