Kenyan startups lead African investor funding in first half of this year

Startups in Kenya have received more equity funding from investors in Africa in the first half of 2023, as per data released by Briter Bridges.

The top four countries highlighted in the report are Kenya (US$520 million), Egypt (US$510 million), South Africa (US$400 million), and Rwanda (US$280 million).

Nigeria (US$280 million) ranks fifth on the continent in terms of funding volume.

Despite Nigerian startups ranking fifth, the country leads in the number of deals on the continent with 101 deals.

Kenya has closed over 80 deals so far, followed by South Africa with over 60 deals, Ghana with over 35 deals, and Egypt with over 15 deals in H1 2023.