Kenya becomes no 1 in startup capital raising in Africa

Kenya was No. 1 in funds raised by startups in Africa last year, beating Egypt, South Africa & Nigeria, bagging 28% of all funds raised on the continent. In East Africa, its share grew from 86% in 2022 to 91% in 2023, highlighting its regional dominance

Funding raised by startups in Africa in 2023: 1. Kenya: $800M 2. Egypt: $640M 3. South Africa: $600M.