In August, startups in Kenya, Nigeria, and Egypt collectively raised Sh9 billion, dominating the Sh12 billion mobilized by African startups that month. This funding activity indicates a significant, albeit quieter than July, period for startup investment across the continent, particularly in these three nations.

• 33 startups secured $93 million (Sh12 billion) in deals exceeding $100,000, with approximately three-quarters of the funding coming from equity.
• The primary beneficiaries were startups in Kenya, Nigeria, and Egypt, accounting for the vast majority of the funding.
• Kenya led African startup funding in 2024, raising Sh82.3 billion ($638 million), surpassing Nigeria (Sh52.9 billion), Egypt (Sh51.6 billion), and South Africa (Sh51 billion).