East Africa’s Startup Funding Surge: Kenya’s Dominance and Regional Investment Trends
- East Africa secured 31% of total investment in 2020, with a marginal lead over West Africa.
- Since mid-2022, East Africa has accounted for 30% of all funding, surpassing other regions.
- Kenya has raised $3.3 billion since 2019, representing 84% of East Africa's total funding.
The growth of startup funding in East Africa, particularly in Kenya, indicates a robust entrepreneurial ecosystem that could serve as a model for other regions. However, the challenges faced by companies like Copia, Twiga, and Wasoko highlight the volatility of the market, suggesting that while opportunities abound, risks remain significant.
