In the latest release from tech research firm ‘Africa: The Big Deal,’ the 2023 outlook on Africa’s tech market unfolds, exposing a notable reshuffling of investments across the continent. This realignment impacts the standings of the recognized Big Four tech markets.
Kenya emerges as the new leader, surpassing Nigeria in tech funding and securing the highest funds in Africa. Egypt and South Africa also significantly distribute tech financing across the continent.
Despite Nigeria’s historical dominance in tech investment, the 2023 report from ‘Africa: The Big Deal’ underscores Kenya’s overtaking due to its unprecedented tech funds. Furthermore, the report reveals a remarkable shift towards a more balanced distribution of tech funding among the four key markets, departing from previous disparities.