These 4 sectors are on the rise in Africa’s technology ecosystem

June 4, 2022

The African tech ecosystem had its best year ever in 2021 when it raised $5.2 billion (per Partech data), and it was predicted by investment tracking platform, Africa: The Big Deal, that the continent is on its way to raising $7 billion in 2022. It is not a surprise that fintech dominated last year’s total funding, accounting for 63% or $3 billion of the funding that went to African startups.

This year, so far, African startups have raised $2.1 billion, according to data from TechCabal’s funding tracker, with fintech still leading the way with $660 million.

While it doesn’t look like fintech’s dominance will wane anytime soon in Africa, there are other sectors on the continent getting significant funding, and you should be paying attention to them.

Read the complete article on Techcabal >

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