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Browsing: Kenyan startups lead in attracting African venture capital
- 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 …