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Today: October 11, 2024
August 5, 2024
1 min read

East Africa’s Thriving Venture Capital Scene: Top Deals Revealed


TLDR:

• Venture capital deals in East Africa surpassed other corporate finance deals in the first half of 2024.

• Agribusiness, manufacturing, and energy were the top sectors for corporate finance deals.

A new report has revealed that venture capital (VC) deals outperformed other corporate finance deals in East Africa in the first half of 2024. VC, which provides seed capital to start-ups, accounted for 38% of the total 68 investment deals made, with a total transaction value of $1.02 billion. This marked a shift from traditional private equity and mergers and acquisitions in the region. While the total number of deals fell by 9.3% compared to the previous year, sectors like agribusiness, manufacturing, and energy showed strong activity. The dominance of VC deals is expected to continue in the region, with foreign investors showing interest in African markets as the next global growth frontier. Despite economic challenges, the future looks bright for venture capital inflows in East Africa.


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