Kenya has managed to maintain its position in the African startup ecosystem by continuing to rise despite the general decline seen during the winter.
In 2023 and 2024, Kenya ranked at the top for startup funding in Africa, capturing 27% of the continent’s total funding last year and 31% this year.
Kenya has succeeded in attracting significant funding compared to the so-called “Big Four” countries—Nigeria, Egypt, South Africa, and Ghana—which hold over 80% of Africa’s startup funding.
This achievement is particularly notable given that Kenya accounts for only about 4% of the continent’s population.
As the seventh-largest economy in Africa, Kenya has been one of the top two countries for startup funding since 2019.
In 2023, Kenya ranked second, following Nigeria, and it has continued this success in 2024, again ranking second, this time behind Egypt.
