'Whereas in 2021, 80.1% of funded ventures hailed from either of Egypt, Kenya, Nigeria or South Africa, in 2022 that declined to 75.8%,' the report stated. fintechs equityfunding
African Fintech Startups Raised $1.45 Billion in 2022 — Sector's Share of the Continent's Total Funding Drops
As was the case in 2021, Nigeria is again the best-funded country after 180 of its startups raised a combined US$976,146,000 or 29.3% of the African continent’s total. Both the West African nation’s number of funded startups and their share of the continent’s total dwarfs those of Egypt, Kenya and South Africa.
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