Cairo - Sharikat Mubasher: Egyptian startups secured $272 million during the third quarter (Q3) of 2024, seizing almost 43% of Africa’s total raised funding.

A recent report by Africa: The Big Deal showed that Egypt came at the top, followed by Kenya with $201 million in investments, representing 32% of the total funding.

Egypt and Kenya came out on top again with a combined 58% of all the funding raised in Africa during the first nine months (9M) of 2024. Egyptian startups raised $373 million in 9M (27%) while Kenyan startups secured $437 million (31%) in the same period.

In 9M-24, the fintech sector attracted the largest investments amounting to $600 million, trailed by the energy sector which secured investments worth $300 million.

Moreover, the total value of investments provided to startups working in the logistics and transport sector recorded $22 million during the first three quarters of 2024, while those working in the agricultural and food sectors secured $82 million.