Browsing: Africa: The Big Deal report

• Startups in Africa have attracted over $1.2 billion in financing this year.
• Experts note that debt financing for startups in Africa is increasingly taking centre stage.
• In July, startups d.light, Va1U, Terrapay as well as Cartona all settled on debt financing to boost operations.

Startups in Africa have defied the odds in declining global capital flow, attracting a record $420 million in financing in July. This funding, which excludes exits, takes to $1.2 billion the amount of money channeled to startups in Africa this year and is the highest on record in 14 months.

“The numbers were heavily skewed by the two mega deals that were announced during the month: d.light’s $176 million securitisation facility and MNT-Halan’s $157.5 million raise. NALA’s $40 million Series A also deserves a mention. Combined, these three deals represent 90 percent of the funding raised,” an update by startup funding tracker, Africa: The Big Deal…

• 121 African startups secured $466M, marking a 27 per cent drop from the previous quarter; women-led startups got 6.5 per cent of the capital.
• About 87 per cent of startup funding in the three months to March went to entities in Nigeria, Kenya, Egypt, and South Africa.
• Gender imbalance persists as only 6.5 per cent of the financing went to female-led startups in Africa.

The big four economies of Nigeria, South Africa, Kenya, and Egypt continue to attract the highest share of funding going to startups in Africa, even as the ecosystem suffered a 27 per cent drop in financing to $466 million in the three months to March 2024.

The latest analysis from Africa: The Big Deal shows that 87 per cent of startup funding in the three months to March went to upcoming entities in Nigeria, Kenya, Egypt and South Africa.

Attracting $160 million, Nigeria’s economy accounted for …

• In East Africa, Kenya’s venture capital share grew from 86 percent in 2022 to 91 percent in 2023.
• Eastern Africa’s largest economy attracted $880 million (Sh139.9 billion) in 2023, representing 31 percent of all startup investments on the continent.
• Africa: The Big Deal report shows that startups in Kenya that raised $100,000 (Sh16 million) and above stood at 93.
  

Kenyan startups secured an impressive $800 million in venture capital funding in 2023, surpassing Egypt, Nigeria, and South Africa to emerge as the leading recipient of investments on the continent.

The latest findings from Africa: The Big Deal, a platform specializing in startup deals, reveal that Kenya’s share accounted for 28 percent of the total funds raised across Africa.

The report highlights that Egypt, which took the lead in 2022, secured the second position with $640 million in capital funding. South Africa followed closely with $600 million, while Nigeria …