Browsing: startup funding

WAEMU economic region
  • Eastern Africa startups raised $1.2 billion in 2022 a 115 percent increase compared to 2021 where startups raised $600 million. 
  • Western Africa, despite a small decrease in funding in the period under review, remains firmly in the lead in the continent.
  • The region’s startups received funding worth $1.8 billion in 2022 from $2 billion in 2021. 

Eastern Africa startups raised $1.2 billion in 2022 a 115 percent increase compared to 2021 where startups raised $600 million. 

Latest data from The Big Deal indicate that this is a huge milestone as the region reached the $1 billion mark for the first time resulting in its revenue share for continental funding more than doubling from 12 percent in 2021 to 26 percent in 2022. 

According to the report, Western Africa, despite a small decrease in funding in the period under review,  remains firmly in the lead in the continent. The region’s startups