E-commerce and clean tech were the leading sectors receiving VC funding in Africa in 2022.
Overall, the continent saw $5B in funding from VC investors.
- The main startups receiving funding in e-commerce were Wasoko and Market Force.
- Both are B2B platforms that allow informal traders to source goods from manufacturers.
- Copia also received a significant amount of VC funding. The company focuses on providing an e-commerce platform that serves customers in rural areas through its network of agents.
- Kenya showed the most robust growth in overall VC funding. In 2022 the country raised $1.1B, more than double what it raised in 2021.
