This archive report was first published on 14 October 2021.
Published on October 14, 2021, a report by the African Development Bank (AfDB) revealed that Kenya, Egypt, Nigeria, and South Africa attracted the majority of foreign direct investment in Africa over the past decade.
These four countries accounted for more than 80% of investment in Africa, highlighting a significant concentration of venture capital and private equity in the region.
According to the report, the growth of accelerators and incubators has led to an increase in support for innovation and entrepreneurship in Africa, with nearly 650 tech hubs established across the continent.
Key Findings ¶
The countries with the greatest number of accelerators also have the greatest share of venture capital financing, underscoring the importance of entrepreneurship in driving economic growth in Africa.
