Kenya had the highest growth rate in Africa in 2022, thanks to the continent’s enticing fundraising climate that year. During the period, venture volume reached a new high of $4.8 billion.
Due to more venture capital (VC) activity in the country, it got the largest share of regional funding in Eastern Africa, which reached $1.1 billion, or 86% of the total budget in the region. This made Eastern Africa’s VC investment volume the second highest after West Africa.
The $75 million round for M-Kopa, the $125 million Series B for Wasoko and the $260 million Series D for Sun King are all deals that stand out.