South Africa, Nigeria and Kenya top three destinations for tech investors in 2016- Report

South Africa, Nigeria and Kenya have been named as the top three destinations for tech investors in 2016, in terms of numbers of deals and total amount of funding.

According to the Disrupt Africa Tech Startups report 2016, African tech startups raised funding in excess of $129 million in 2016, with the number of startups securing funding up by 16.8 per cent compared to the previous year,

Sector-specific research shows the fintech sector received the most funding; while the agri-tech sector saw the biggest percentage growth as compared to the previous year, the report stated.

The report further notes that the number of African tech startups receiving funding in 2016 has risen by almost 17 per cent compared to the previous year.

The report which is the second of its kind touched on funding activities in eight different countries.

Figures on the number of deals per location, and average deal sizes, highlights of key deals across continent, sector-specific breakdowns across nine sectors, tracking of acquisitions in 2016, comparative analysis of the ecosystem over 2015 to 2016, an “investor profile” and “entrepreneur profile” are some of the areas the research focused on.

By Pamela Ofori-Boateng

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