Browsing: startup news in africa

  • Investment in African startups in the energy sector more than doubled in 2022 to hit $874 million compared to $413 million in 2021 making it the biggest winner in 2022.
  • The energy sector was followed closely by the logistic & transport sector which experienced year on year growth of 38 percent, surpassing Fintech in Q4.
  • Retail came next at $455m in investment, while other significant sectors growing year on year included Telecom, Media & Entertainment, Agriculture & Food and Deeptech.

Investment in African startups in the energy sector more than doubled in 2022 to hit $874 million compared to $413 million in 2021 making it the biggest winner in 2022.

This is according to latest data from The Big Deal which attributes the growth to two huge investments made in the region during the period under review that includes PEG Africa’s acquisition by Bboxx estimated at $200m and Sun King’s …