Kenya claimed more than 80% of all financing for Eastern Africa in 2022.

Kenya had the highest growth rate in Africa in 2022, thanks to the continent’s enticing fundraising climate that year. During the period, venture volume reached a new high of $4.8 billion.

Due to more venture capital (VC) activity in the country, it got the largest share of regional funding in Eastern Africa, which reached $1.1 billion, or 86% of the total budget in the region. This made Eastern Africa’s VC investment volume the second highest after West Africa.

The $75 million round for M-Kopa, the $125 million Series B for Wasoko and the $260 million Series D for Sun King are all deals that stand out.