- Ranking results
- East Africa
- West Africa
- North Africa and Southern Africa down
According to the annual report « Africa : The Big Deal »Moroccan startups have raised $70 million, placing the country in fifth place on the African continent. The report, which has been produced annually since 2019, is dedicated to analyzing and tracking African startup financing to provide a comprehensive database of investments and trends in the sector.
Ranking results
Morocco ranked fifth, behind Kenya, with 638 million, Nigeria, 410 million, Egypt, 400 million, and South Africa, 394 million. These four countries accounted for almost 84% of the total funds raised on the continent at the end of last year, a total of $2.2 billion in the form of equity, debt and grants (excluding outflows ).
The East African region attracted the most investments for the second year in a row, reaching a total of $725 million or, in other words, one in three dollars on the continent in 2024. Kenya alone represents 88% of the total recorded in this territory, and 29% of all funds raised on the continent. However, the 2024 figure represents an 18% drop from 2023.
West Africa finished 2024 in second placewith $587 million (27% of funding) and rose to fourth place in the ranking in 2023.
This progression is explained by the economic growth of countries such as Nigeria, Ghana, Benin, Ivory Coast and Senegal, thanks to which the region only recorded a slight 3% decrease in funding in 2024 compared to the previous year.
-In regions like North Africa, investments have declined sharply: by 35% between 2023 and 2024, reaching $478 million (22% of total funding).
The main cause is the 37% recession in Egypt, the largest decline observed among « Big 4 ». Egypt accounted for 84% of total funds raised in the region last year and, according to the report, “although Morocco held up relatively well, this was not enough to offset the decline.”
Southern Africa accounted for 18% of total funding, with $397 million. However, it also saw a decline last year, with a contraction of 36%, driven by a 34% drop in South Africa. This decline weighed on the region’s figures, which accounted for 99.4% of all funding received in the region.
