Posted 1/9/2024, 8:55:38 AM
Kenya Overtakes Nigeria as Africa's Top Tech Funding Market in 2023
- Kenya overtook Nigeria in 2023 as the top African nation for tech market funding, receiving $800 million compared to Nigeria's $410 million
- The "Big Four" African tech markets (Nigeria, Kenya, Egypt, South Africa) attracted 87% of all African start-up funding in 2023
- Nigeria saw tech funding drop sharply from $1.2 billion in 2022 to just $410 million in 2023
- Egypt's total 2023 tech funding was $640 million, second highest of the Big Four countries
- South Africa received $600 million in tech funding across 70 start-ups raising at least $100,000 each