{"id":12569,"date":"2023-02-08T17:26:06","date_gmt":"2023-02-08T17:26:06","guid":{"rendered":"https:\/\/www.africa-press.net\/cape-verde\/all-news\/african-tech-startup-funding-passed-3bln-in-2022-report-says"},"modified":"2023-02-08T17:28:52","modified_gmt":"2023-02-08T17:28:52","slug":"african-tech-startup-funding-passed-3bln-in-2022-report-says","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/cape-verde\/all-news\/african-tech-startup-funding-passed-3bln-in-2022-report-says","title":{"rendered":"African Tech Startup Funding Passed $3Bln in 2022, Report Says"},"content":{"rendered":"

Africa-Press – Cape verde. <\/strong><\/span>According to an annual report by startup news and research portal Disrupt Africa, the continent\u2019s startups have seen significant growth despite global economic slowdown caused by multiple factors, such as the fallout of the COVID-19 pandemic.<\/p>\n

In 2022, a total of 633 African tech startups received $3.33 billion in investment, which means that the $3 billion mark has been passed for the first time in history, the African Tech Startups Funding Report 2022 said.<\/p>\n

Although the total investment growth rate was smaller than the previous year (55.1% in 2022 against 206.3% in 2021) because of harsher global economic conditions, the number of funded startups is unprecedented and increased by 12.2% compared to 564 in 2021.<\/p>\n

The average deal size grew by 38.2% from $3.29 million in 2021 to $5.27 million in 2022. Since 2015, when the portal started publishing its reports, the total number of funded startups has increased by 406% (from 125 to 633), with the total funding growing by over 1,000%.<\/p>\n

According to the report, Nigeria, Egypt, South Africa, and Kenya remain the continent\u2019s \u201cbig four\u201d in terms of funding. However, startups from a record number of African countries \u2013 27 \u2013 secured investment in 2022.<\/p>\n

In February last year, the report says, Nigerian fintech startup Flutterwave secured an all-time Africa record, raising $250 million. In the list of the continent\u2019s startups with the best investment, it is followed by Nigerian mobility fintech Moove ($181.8 million) and Egyptian fintech platform MNT-Halan ($150 million), Algerian super app Yassir ($150 million), Kenyan retail-tech Wasoko ($125 million), Tunisian AI startup InstaDeep ($100 million), South African e-commerce startup Clickatell ($91 million), and Kenyan PAYG solar firm M-KOPA ($75 million).<\/p>\n

The number of disclosed investors grew by 28% \u2013 to 987 from 771 tracked in 2021 \u2013 with the most active investors being early-stage funds (e. g. Launch Africa Ventures, LoftyInc Capital Management, and Future Africa) and accelerators (including Y Combinator, Techstars, Flat6Labs, and Startup Wise Guy). Late stage-investors such as large global ones (Tiger Global, Sequoia Capital, and SoftBank) have become more active in the market.<\/p>\n

It was earlier reported that the Affirmative Finance Action for Women in Africa (AFAWA) initiative by the African Development Bank (AfDB) had reached $1 billion in approved funding. The program is mainly focused on small and medium-sized women-run businesses that play a key role in Africa\u2019s agriculture.<\/p>\n

In November 2022, Akinwumi Adesina, the president of the AfDB, called for more active investment in Africa, noting that the continent is \u201cnot as risky as you think\u201d and positively compared the investment climate in some African countries with a number of European ones.<\/p>\n

For More News And Analysis About Cape verde<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Cape verde. According to an annual report by startup news and research portal Disrupt Africa, the continent\u2019s startups have seen significant growth despite global economic slowdown caused by multiple factors, such as the fallout of the COVID-19 pandemic. In 2022, a total of 633 African tech startups received $3.33 billion in investment, which […]<\/p>\n","protected":false},"author":84,"featured_media":12568,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,9],"tags":[233,331,328],"class_list":["post-12569","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-miscellaneous","tag-africa-press","tag-africa-press-cape-verde","tag-cape-verde"],"yoast_head":"\nAfrican Tech Startup Funding Passed $3Bln in 2022, Report Says - Cape Verde<\/title>\n<meta name=\"description\" content=\"According to an annual report by startup news and research portal Disrupt Africa, the continent\u2019s startups have seen sig ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/cape-verde\/all-news\/african-tech-startup-funding-passed-3bln-in-2022-report-says\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"African Tech Startup Funding Passed $3Bln in 2022, Report Says - 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