Positive Sum Africa reposted this
🚀 In 2024 so far, #Kenya 🇰🇪 ($437m, 31%) and #Egypt 🇪🇬 ($373m, 27%) come out on top with a combined 58% of all the funding raised by start-ups in #Africa. For both of them, it is their highest share of funding on record since 2019. #Nigeria 🇳🇬’s share (15%, $218m) is comparable to what it was last year (14%). However, 2023 had seen quite a dramatic shift for Nigeria compared to previous years when the country had represented a much bigger share of the funding (35% between 2019 and 2022). With 9% ($125m) of the funding raised in 2024 so far, #SouthAfrica 🇿🇦 is at the moment recording its worst performance since 2019 in terms of its share of continental funding (6%), much below its average share in the past few years (18% between 2020 and 2023). So far this year, only 18% of the funding has gone to the ‘rest of Africa’ with 23 markets recording at least one $100k+ deal since January 1st. Only five of them have claimed at least 10 such deals since the beginning of the year: #Tanzania 🇹🇿, #Ghana 🇬🇭, #Morocco 🇲🇦, #Uganda 🇺🇬 and #Rwanda 🇷🇼... ... For more, check out my latest posts for Africa: The Big Deal analysing Q3 and year-to-date numbers and trends. Links below 👇👇👇 --- #startups #startupfunding #vcfunding #africatech #map