According to the latest Africa Investment Report 2023 by UK-based research firm Briter Bridges, Kenya has emerged as the top investment destination on the continent. The report reveals that investors injected over Ksh131 billion (806 million USD) into Kenya, solidifying its position at the forefront of Africa's investment landscape.
Following closely behind Kenya are Egypt, Nigeria, and South Africa, with respective investments of Ksh110 billion (675 million USD), Ksh93 billion (575 million USD), and Ksh92 billion (565 million USD). These four countries are increasingly serving as regional hubs for companies expanding their operations into neighboring countries, according to the report.
Neighboring nations Tanzania and Uganda are also gaining traction as emerging investment ecosystems, drawing interest from investors in 2023.
In terms of the number of investment deals closed, Nigeria takes the lead with over 250 transactions, followed by Kenya with 160, South Africa with 130, and Ghana with 65.
Rwanda, ranking sixth, attracted Ksh57 billion worth of investment projects during the review period. Additionally, countries like Tunisia, Benin, and Ghana received notable investment volumes, indicating their rising prominence in the investment landscape.
The report highlights Tunisia and Rwanda's rapid growth in funding volumes, fueled by significant deals in companies like Zipline and InstaDeep.
Overall, these investments span various sectors, including fintech, cleantech, health, IT, agriculture, e-commerce, and entertainment, signaling diverse opportunities for growth and development across Africa.
