December 2018 – Page 2 – Africa Tech Digest

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 Af...

This year, as is the case almost every year, the availability of funding proved a major talking point among African tech founders and innovators. In 2018, however, there was reason to cheer as halfway through the year, startup funding had reached $168.6 million—surpassing last year’s total. Crucially, there was more venture capital closer to home for startups as Partech Ventures launched a $100 million pan-African fund. Indeed, much of that increased investment was largely thanks to the hot streak of fintech companies, including big-ticket investment deals like Cellulant’s $47.5 million Series C round. Fintech companies across the continent providing key services in loans, savings and payment, have been increasingly rewarded wit...

Month: December 2018

The big tech and innovation trends in Africa for 2018