Browsing: #African Tech Ecosystem

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African Tech Ecosystem Still Growing With $6.5 Billion Raised In 2022- Report

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-Amid the drastic pullback in global VC funding, the African tech ecosystem stands out with +8% growth from 2021.
-Debt funding doubled in volume to $1.5B, accounting for nearly a quarter of the total funding.
-Fintech, still leading, attracted 39% of the total equity volume; Nigeria retained the top spot with 23%
-Overall, Nigeria, South Africa, Egypt and Kenya remain the top investment destinations in Africa
-Nigeria retained the top rank, bringing in $1.2B in capital, despite a decline of 36% from 2021