In the third quarter of this year alone, African fintech firms raised $906M. That represented more than 60 percent of all venture money that flowed into Africa last quarter, and more than all other sectors combined in the first half of 2021.
The venture capital scene in Africa has consistently grown, with an influx of capital from local and international investors reaching unprecedented heights in recent years.
Once bypassed by the tech boom, cities like Kigali in Rwanda are now home to a growing number of startups and increasing investment.
This year, these three companies brought in a total of $240 million in venture capital funding from 15 different Chinese investors, who’ve become increasingly active in Africa’s tech scene.
Abu Dhabi is doubling down on its push into the technology sector with a $250 million investment to support startups from the Middle East and North Africa region.
These 10 African tech startups who will showcase their ideas have a great opportunity to attract investment and gain exposure.
The year 2018 was record-breaking for African tech funding, with 210 startups secured $334.5 million worth of investment but 2019 is already looking on track to be another bumper year.
Global private equity investors remained bullish on their prospects in Africa in 2018, promising to increase their allocations and doubling down on their decade-long plans.
The refugee crisis in Europe has lent impetus to a new initiative to foster private sector investment in Africa, according to an official in the German finance ministry. Compact With Africa (CWA) is an initiative of the world’s 20 largest economies (G20) to promote private sector investment in Africa, including but not limited to infrastructure.
Dumi Jere, Chief Executive Officer of AfriCatalysts discusses infrastructure development, specifically at investment in the road, rail and air infrastructure as a catalyst to improve trans-African trade.