top of page

Venture Capital Funding Continued To Grow In Africa Despite Global Slump

The African Tech sector was one of the few, if not the only, VC markets to boast net growth funding and deals in 2022.


VC funding grew 8% to $6.5 billion in Africa, whereas globally it fell 35% last year, according to the 2022 Africa Tech Venture Capital Report by Partech Africa. Debt funding doubled (+102% to $1.5B), compensating for a slight decline in equity rounds (-6% to $4.9B).


Despite a slowdown in the number of Fintech megadeals, Fintech remains the #1 funded sector in Africa (raising $1.9 billion or 39% of total raised). Cleantech claimed the #2 spot and made a big comeback in 2022 with over $863 million in equity raised (18% of total raised).


Source: 2022 Africa Tech Venture Capital Report by Partech Africa

12 views0 comments

Comments


bottom of page