UK Emerges As Key Base For African Tech Startups

TLP Advisory, a cross-border venture law practice, released its third annual report in November 2026, highlighting the United Kingdom as a key international base for African tech companies. The report, "Home and Away: Tracking African Tech’s Global Footprint," examined 100 tech companies from Nigeria, Kenya, South Africa, Egypt, Ghana, and Morocco. This finding aligns with the UK government's March 2026 publication of Nigerian companies like Moniepoint, Kuda, and LemFi expanding operations there.

The report details how the UK offers a unique blend of incorporation, operational presence, and regulatory licensing, distinguishing it from other global markets. In contrast, the United States is primarily associated with financing-linked incorporation, often through Delaware, making companies easier to invest in. The United Arab Emirates largely serves as an operational base, providing access to the wider Middle East. Odunoluwa Longe, co-founder at TLP Advisory, emphasized that founders should be deliberate about their objectives in each market.

Figures from the report show that 84% of UK-affiliated companies are incorporated there, 47% maintain an operational presence, and 19% hold regulatory licenses. This contrasts sharply with the US and UAE, where only 3% and 4% of affiliated companies, respectively, hold licenses. The US remains the most common destination overall with 67% of companies affiliated, followed by the UK at 32% and the UAE at 23%. Notably, 81% of US-connected companies had incorporation as their sole link, whereas 87% of UAE-connected companies focused on operations.

The UK's appeal for African tech companies, especially fintechs, stems from its established market and a significant African diaspora. The 2021 UK Census recorded over 270,000 Nigeria-born residents in England and Wales, contributing to the $22.8 billion in remittances Nigeria received in 2025. This demographic provides an immediate customer base for remittance and payment companies, enabling them to serve users on both sides of the corridor. Additionally, the UK offers investor tax relief schemes like SEIS and EIS, and the Global Entrepreneur Programme.

The UK is actively positioning itself to attract African companies seeking capital at various growth stages, evidenced by revised listing rules and the upcoming PISCES sandbox in 2025. Over 110 African companies are already listed on the London Stock Exchange, with Airtel Money's October 2026 listing at £5.3 billion serving as a recent example. Furthermore, the UK's Financial Conduct Authority provides a unified national regulatory framework, offering a streamlined approach compared to the state-by-state licensing in the US or varied regulations across the UAE.