Kenya leads Africa with 50 startup funding deals
The report by the Africa Investment Bridge initiative shows Nigeria followed with 34 deals, Tanzania with 24, South Africa 19 and Ghana 17, reinforcing Nairobi’s position as East Africa’s leading innovation hub. Kenya breaking news | Kenya news today |..
✨ Key Highlights
Kenya led Africa in startup funding deals in 2023, securing 50 deals, the highest on the continent according to the latest Germany-Africa Investment Report. This reinforces Nairobi's position as East Africa's leading innovation hub, with significant investor interest in AgTech and Fintech.
- Kenyan startups received 50 funding deals in 2023, outperforming Nigeria (34 deals), Tanzania (24), South Africa (19), and Ghana (17).
- African founders in AgTech and Fintech accounted for 51 percent of German-backed deals, with Health and Education also gaining momentum.
- Head of Programs at the Westerwelle Foundation, Sebastian Gentry, highlighted that African founders are building solutions in agriculture, financial services, health, and climate adaptation.
- African startup funding rebounded to $3.8 billion in 2025, with funding volumes rising 32 percent and deal counts increasing 8 percent.
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Part of the Day's Coverage
Kenya Launches Digital Radio Trial and E-Tuktuks; Startup Funding Reaches 50 Deals - February 2026
The Communications Authority of Kenya (CA) has launched Kenya's first Digital Sound Broadcasting (DSB) trial for radio services in Nairobi, marking a shift toward digital transmission. In the mobility sector, Skoot Technology introduced electric three-wheelers, the Skoot e3W, in Nairobi, which utilize a battery-swapping system to help operators reduce fuel costs. This wave of innovation is happening as a report reveals Kenya led Africa in startup funding in 2023, securing 50 deals. Additionally, CFAO Kenya has opened a new Case IH agricultural machinery showroom in Mombasa, aiming to support agricultural transformation with new technology.
