The publication finds that at least 490 tech startups were in operation across South Africa as of May 2022, employing over 11,000 people between them. Fintech is the most populated sector, with almost one-third of the country’s tech startups active in that vertical. Over 25 per cent of South African tech startups have undergone some form of acceleration or incubation, though diversity is an issue as less than 15 per cent have a female co-founder.