NAIROBI, Kenya Jun 21 - Yearly funding for Kenyan start-ups is projected to hit Sh100 billion in the next three years, this was revealed during the 7th Kenya breaking news | Kenya news today |
Kenya Shines as Foreigners Open Ksh29.3 Billion Money Tap
Kenyan Currency notes.
File
The report titled
Top Startup Destinations in Africa 2020, showed that foreign investors poured a substantial Ksh29.3 billion into the country.
According to the report, this represented 25 percent of the total funding channeled to Africa in 2020.
Kenya has been ranked as the leading investment destination in Africa.
File
Kenya toppled Nigeria, South Africa, Egypt and Ghana to emerge as the leading investment destination in Africa.
The industries that attracted the highest investments include renewable energy, Agritech and logistics.
Greenlight Planet, solar energy equipment supplier, emerged as the top-funded startup in Kenya securing Ksh9.9 billion, followed by Twiga Foods with Ksh3.2 billion and Komaza, forestry company in Kenya, got Ksh3 billion.