In a report, Kenyan Startup Ecosystem Report 2022, released by Disrupt Africa in December 2022, Kenya was named the second most popular investment destination in the continent after Nigeria.
According to the survey, Nairobi is the leading hub for Kenyan tech, with 97.4 per cent of the startups tracked.
Also, the report detailed that Kenya has more female start-up founders compared to Egypt, Nigeria, and South Africa.
From the 308 startups included in the report, over 11,500 people have gained employment.
An aerial view of a section of Nairobi County.
“Kenya has a well-established reputation as a pioneer in Africa’s tech space, but its journey has been far from smooth,” Gabriella Mulligan, co-founder of Disrupt Africa, noted.
In addition, the co-founder stated the report tracked Kenya’s startups from 2015 following their development.
The nation was praised for being home to resilient and innovative startups that solve common problems in the country and Africa.
“Kenya is the leading hub for technology startups in Eastern Africa and holds exciting opportunities for the future,” Newtown Partners managing partner Llew Claasen remarked.
Claasen added that he was eager to see the advancement of the Kenyan tech ecosystem through collaboration between local and international players.
Another Disrupt Africa co-founder, Tom Jackson, stated that the annual reports were aimed at providing entrepreneurs with necessary information.
“It is core to our identity as a company that we offer entrepreneurs both active and aspiring access to pivotal information, resources, and opportunities with which to take their businesses to scale,” Jackson assured.
Notably, in 2022 at least 63 Kenyan startups raised funding, standing at Ksh62.2 billion ($506,686,000).
This is almost double the Ksh35.8 billion ($291,983,000) raised by Kenyan startups in 2021.
An aerial view of Lagos in Nigeria