Photo by Lewis Ngugi on Unsplash
The tech startup scene in the African continent is experiencing record-breaking growth and increased international attention. In 2017, African tech startups received over $560M in investment according to research by Partech Ventures (a 53% increase from $367M in 2016). While South Africa and Nigeria still lead in attracting tech investments for the continent, East Africa is rapidly grabbing diverting more attention and investment dollars, catalyzed by strong innovation hubs and incubators. Nairobi stands as the pillar and anchor of East Africa’s interest, attracting 26% of total investments into Africa.
Results from I-DEV East Africa Tech Survey showed strong evidence that Kenya continues to take a the lead in attracting attention and growing the ‘hottest’ companies to watch in East Africa, yet Rwanda and Uganda are beginning to attract investor interests as well.
When asked about the hottest companies to watch in East Africa, 95 % of the companies (77 of an incredible 82!) mentioned were Kenyan-based — an indicator that ecosystem thought leadership and knowledge is still focused predominately on Kenya. This article highlights the leading East Africa tech companies attracting survey respondents’ attention. Continue reading
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