TechCrunch did a synopsis recently on Africa’s 2019 VC stats. Analyses from investment fund Partech and media outlets Disrupt Africa and WeeTracker came up with varied numbers, but there was a common trend: the top two countries for venture capital to startups across all three studies were Nigeria and Kenya.
TechCrunch covered a number of the major investments in those markets in 2019. Here’s a look at the VC numbers and the companies receiving rounds in Africa’s leading startup countries.
How much VC?
There’s some pretty significant variance in the estimates for annual venture funding in Africa. From high to low, Partech pegged total 2019 VC for African tech companies at $2 billion, compared to WeeTracker’s $1.3 billion estimate and Disrupt Africa’s $496 million.
The deviations come largely from the different methodologies used to define startups and venture funding.