According to the report, Egypt emerged as the frontrunner on the list, securing a remarkable $402 million across seven deals. Following closely are South Africa, Kenya, and Nigeria, with funding amounts of $304 million, $280 million, and $90 million, respectively, achieved through 11, 13, and 31 deals, respectively.
Afridigest, a leading source for insights into Africa's tech ecosystem, conducted this ranking based on their tracking of financial activities from Week 1 to Week 26 in 2023.
This encompassed equity fundraises, debt fundraises, and mergers and acquisition deals (MandA), excluding grants to align with international best practices in deal reporting.
Source: Africa News Agency