Thursday July 18th, 2024
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Egyptian Startups Secure $101 Million in H1 of 2024

This places Egypt at third place amongst African startups in terms of funding, according to the ‘Africa: The Big Deal’ platform.

Raïs Saleh

Egyptian startups have raised around $101 million in the first half of 2024 according to ‘Africa: The Big Deal’ platform, ranking Egypt as third place in Africa in startup funding. This is a significant decrease compared to the same period in 2023, when Egyptian companies had raised up to $298 million.

Kenya came first on the continent, having raised $244 million, followed by Nigeria at $172 million. South Africa came in fourth place, securing $85 million.

Collectively, these top four countries account for 79% of the total funding amount of $780 million, which marks a 57% decrease compared to the same period last year.

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