The State of Expansion in Africa, 2026 Report
The definitive report on how African businesses are expanding across borders, what is working, what is not, and what the data says about the next 12 months.
African business expansion has fundamentally changed in the last 24 months. The funding environment shifted. Regulatory frameworks tightened.
This report pulls together data from 40,000+ companies that have expanded across Africa using Norebase, combined with research on regulatory changes, market entry patterns, and the licensing landscape across 54 African countries.
What the Report Covers
The 10 most active expansion markets in Africa in 2026, ranked by incorporation volume, licensing activity, and investor interest.
The expansion patterns investors, founders, and operators should watch in 2026.
Country-by-country breakdown of incorporation timelines, costs, and regulatory requirements.
The fintech licensing landscape, which markets are open, which are tightening, and what the window looks like in 2026.
How the top 20 African fintechs structured their multi-market entry, the legal entities, jurisdictions, and sequencing they used.
The biggest compliance mistakes companies made in 2025 - present, and how to avoid them.
Who this report is for
Founders
Founders planning their first expansion out of their home market.
Investors & Fund Managers
Investors and fund managers tracking African market entry activity.
Multinationals
Global companies entering Africa for the first time.
CFOs & Legal
CFOs and legal teams at Series A+ companies building multi-country operations.
