The Disrupt Africa African Tech Startups Funding Report 2016 released on January 20, 2017 states that 146 startups from across Africa raised funds to the tune of US$129,113,200 in 2016, amounting to a 16.8% rise from the previous year (2015).
Among those countries, Tech investors invested more in South Africa, Nigeria and Kenya as they were the top 3 destinations in 2016. The fourth country is Egypt whose growth in fundraising is 100%.
Unlike the previous year, the number of startups raising fund shows substantial growth, although the overall total amount of funding recorded declined.
Of the nine sectors analysed in the report, the fintech sector received the most backing in 2016, with startups in this space raising a combined US$31.4 million, 24 per cent of the overall total.
Of note in the report are figures on the number of deals per location and average deal sizes, detailed information on funding activity in 8 African contries, “investor profile” and “entrepreneur profile”, a comparative analysis of the ecosystem over 2015-2016, etcetera.
Read the full report.