South Africa received the bulk of investment into Africa's ICT industry

24 February 2017

Mergers, Acquisitions and Financial Results

Report on funding over the past year shows that SA received the lion's share of investment of more than US$129 million.

South Africa has come out ahead of its counterparts on the continent as the top destination for ICT investors based on the number of deals as well as the total amount of funding. The Disrupt Africa African Tech Startups Funding Report 2016 reveals that the country attracted the biggest share of investment followed by Nigeria, while Kenya and Egypt secured third and fourth place.

The latest report, the second one in as many years from Disrupt Africa, contains information on funding activity in eight African countries in total, as well as comparative analysis of the ecosystem in 2016 to the previous year.

"African tech startups raised funding in excess of US$129 million in 2016, with the number of startups securing funding up by 16.8 percent compared to the previous year," according to the report's findings. Read the full article on ITWeb Africa here:

Source: ITWeb Africa 20 Febriary 2017