Kenya’s Growth Outpaces Rest of Africa in VC Market
Kenya emerged as one of many main enterprise capital markets in Africa, with clear tech and e-commerce attracting probably the most funding, in keeping with the not too long ago launched seventh African Venture Capital Association (AVCA) report.
Kenya’s VC Market Growing Faster than Rest of Africa
The report revealed that Kenya’s VC market grew sooner than the remainder of Africa over the yr ending June 2019. The whole worth of funding for Kenyan-based corporations elevated by greater than 18x since 2017. During this era, VCs invested US$309 million into Kenyan corporations, up from US$17 million in 2017 and US$12 million in 2016.
Clean Tech and E-Commerce Receive the Most Funding
The majority of this funding goes to the clear tech and e-commerce sectors. Clean tech corporations have attracted $59 million in VC funding between 2017 and 2019, whereas e-commerce corporations have pulled in $83 million. Other standard sectors embrace agrotech, EdTech, software program and logistics, which have all seen important will increase in funding over the previous three years.
Kenya at Forefront of Africa’s VC Market
Kenya is now firmly on the forefront of Africa’s VC market and is ready to proceed its sturdy development over the approaching years. Global buyers are starting to recognise the potential of the nation’s burgeoning know-how sector and entrepreneurs are more and more seeking to leverage Kenya’s beneficial financial and demographic situations to broaden their companies.
Kenya’s enterprise capital sector provides immense alternatives for each native and worldwide buyers. With the best funding and help, the nation will proceed to be a key participant within the African VC market.
Key Points:
- Kenya is now one of many main enterprise capital markets in Africa.
- Clean tech and e-commerce sectors are receiving probably the most funding capital.
- Global buyers are starting to recognise Kenya’s potential.
- Kenya provides immense alternatives for native and worldwide buyers.