Kenya’s startups captured the largest share of investments in Africa, in H1 2018
(Ecofin Agency) - A recent Global Tech Media WeeTracker report revealed that between January and June this year, Kenyan startups captured the largest share of investments made in Africa.
Over the period, African startups completed 118 transactions and mobilized $168.6 million. Nigeria attracted the most investors handling 31 transactions for $29.41 million. However, Kenya realized 23 deals but captured the lion’s share of investments valued at $82.86 million. Egyptian startups came third followed by South African startups, in terms of transactions handled.
As far as ventures are concerned, the largest investment ($47.5 million) during the period was granted to Kenya’s online payment service supplier Cellulant, followed by micro-loan platform Branch ($20 million). Meanwhile, the power distributor M-Kopa Solar, raised $10 million.
Let’s note that overall, 28 African startups raised over $1 million in financing during the first half 2018.