{"id":110615,"date":"2024-01-10T16:05:53","date_gmt":"2024-01-10T16:05:53","guid":{"rendered":"https:\/\/www.africa-press.net\/kenya\/all-news\/kenyan-startups-led-africa-in-2023-with-sh127bn-funding"},"modified":"2024-01-10T16:46:45","modified_gmt":"2024-01-10T16:46:45","slug":"kenyan-startups-led-africa-in-2023-with-sh127bn-funding","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/kenya\/all-news\/kenyan-startups-led-africa-in-2023-with-sh127bn-funding","title":{"rendered":"Kenyan startups led Africa in 2023 with Sh127bn funding"},"content":{"rendered":"

Africa-Press – Kenya. <\/strong><\/span>Kenyan start-ups attracted $800 million (Sh127.2billion) in venture capital in 2023 surpassing, Egypt, Nigeria and South Africa to top the continent.<\/p>\n

A new report by Africa: The Big Deal, a platform for startup funding shows capital injection in Kenya accounted for 28 percent of all funds raised in the continent.<\/p>\n

Egypt which topped in 2022 came second with $640m(Sh101.8billion), followed by South Africa with $600 million (Sh95.4 billion) and Nigeria $410 (Sh65.2billion).<\/p>\n

In East Africa, Kenya\u2019s share grew from 86 percent in 2022 to 91 percent in 2023, stamping its dominance in East Africa.<\/p>\n

The report shows that startups that raised $100,000 (Sh16million) and above in the country stood at 93.<\/p>\n

\u201cIf we look at things from a regional point of view, 2023 has seen a rebalancing of start-up investments across the continent. While Eastern Africa comes out on top, the four key regions have attracted rather comparable amounts of funding last year,\u201d reads the report in part.<\/p>\n

With nearly half a billion dollars raised by Sun King and M-Kopa alone, Eastern Africa attracted $880m (Sh139.9billion) in 2023, representing 31 percent of all the start-up investment on the continent.<\/p>\n

It therefore took the number one spot up from position two in 2022 and four in 2021.<\/p>\n

Debt represented more than half (56 percent) of the funding raised in the region and overall 130 start-ups raised $100,000 or more during the period.<\/p>\n

Fintech is still king in attracting funding, accounting for about 45 percent of the total funding. But energy-led startups are increasingly gaining traction.<\/p>\n

For the first time, Northern Africa was the second-most attractive region on the continent. As start-ups from the region recorded a 39 percent decline year-on-year to $670m (Sh106 billion).<\/p>\n

Southern Africa emerged as the only region among the four primary regions to register a moderate yet positive growth of six percent year-on-year.<\/p>\n

None of the startups in the region secured funding exceeding $100 million, with the top three fundraisers \u2014Planet42, TymeBank, and E4\u2014accounting for only approximately one-third of the total regional funding, in contrast to 57 percent in Eastern Africa and 86 percent in Northern Africa.<\/p>\n

The percentage was even less in Western Africa at 23 percent, yet it boasted the highest number of ventures securing $100,ooo or more (191, constituting 39 percent of the continent’s overall total).<\/p>\n

Despite raising just over $600 million in funding, which is 2.6 times less than in 2022, the region fell from the top spot to fourth.<\/p>\n

This marks a significant decline in its performance since 2019 when the platform began monitoring deals.<\/p>\n

While being the only region to record a 33 percent year on year growth, from $51m in 2022 to $68m in 2023, Central Africa continues to represent a fraction of the total funding (2 percent), orders of magnitude smaller than its neighbours.<\/p>\n

The year 2023 marked the lowest funding for African startups since 2020\u2019s $2.1 billion (Sh332 billion). It\u2019s a 36 percent decline from 2022\u2019s $5 billion (791 billion) total. The funding streams shrunk as harsh economies bit.<\/p>\n

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

Africa-Press – Kenya. Kenyan start-ups attracted $800 million (Sh127.2billion) in venture capital in 2023 surpassing, Egypt, Nigeria and South Africa to top the continent. A new report by Africa: The Big Deal, a platform for startup funding shows capital injection in Kenya accounted for 28 percent of all funds raised in the continent. Egypt which […]<\/p>\n","protected":false},"author":84,"featured_media":110613,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5],"tags":[6857,7003,544],"class_list":["post-110615","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-africa-press","tag-africa-press-kenya","tag-kenya"],"yoast_head":"\nKenyan startups led Africa in 2023 with Sh127bn funding - kenya<\/title>\n<meta name=\"description\" content=\"Kenyan start-ups attracted $800 million (Sh127.2billion) in venture capital in 2023 surpassing, Egypt, Nigeria and South ...\" \/>\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\/kenya\/all-news\/kenyan-startups-led-africa-in-2023-with-sh127bn-funding\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Kenyan startups led Africa in 2023 with Sh127bn funding\" \/>\n<meta property=\"og:description\" content=\"Kenyan start-ups attracted $800 million (Sh127.2billion) in venture capital in 2023 surpassing, Egypt, Nigeria and South ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/kenya\/all-news\/kenyan-startups-led-africa-in-2023-with-sh127bn-funding\" \/>\n<meta property=\"og:site_name\" content=\"kenya\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2024-01-10T16:05:53+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-01-10T16:46:45+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/kenya\/sites\/28\/2024\/01\/sm_1704892294.892125.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1000\" \/>\n\t<meta property=\"og:image:height\" content=\"461\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/kenya\/all-news\/kenyan-startups-led-africa-in-2023-with-sh127bn-funding#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/kenya\/all-news\/kenyan-startups-led-africa-in-2023-with-sh127bn-funding\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/kenya\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Kenyan startups led Africa in 2023 with Sh127bn funding\",\"datePublished\":\"2024-01-10T16:05:53+00:00\",\"dateModified\":\"2024-01-10T16:46:45+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/kenya\/all-news\/kenyan-startups-led-africa-in-2023-with-sh127bn-funding\"},\"wordCount\":491,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/kenya\/all-news\/kenyan-startups-led-africa-in-2023-with-sh127bn-funding#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/kenya\/sites\/28\/2024\/01\/sm_1704892294.892125.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Kenya\",\"Kenya\"],\"articleSection\":[\"all news\",\"economy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/kenya\/all-news\/kenyan-startups-led-africa-in-2023-with-sh127bn-funding#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/kenya\/all-news\/kenyan-startups-led-africa-in-2023-with-sh127bn-funding\",\"url\":\"https:\/\/www.africa-press.net\/kenya\/all-news\/kenyan-startups-led-africa-in-2023-with-sh127bn-funding\",\"name\":\"Kenyan startups led Africa in 2023 with Sh127bn funding - 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