In all, 397 startups raised an impressive US$701,460,565 in total funding. For the second year running, Kenyan startups raised a record amount of funding in 2020, securing a combined total of US$191,381,000. Accounting for 27.3 per cent of the continent’s total investment, this is the largest amount of funding ever achieved by a single country. Though minimal growth in terms of startup numbers, the total funding figure almost doubled 2019’s tally. Tunisia’s startup funding outlook has made marked progress in 2020, with 14 startups raising investment, though those companies raised only US$3,883,000.

Source: The North Africa Journal January 26, 2021 06:00 UTC