VCs set sights on African countries beyond the ‘Big Four’

Image Credits: Bryce Durbin

Over the last decade, the number of deals, ticket sizes and funding have all increased in Africa. Nine times the amount was raised from five years ago and the amount was doubled last year.

More than 70% of venture capital investment in Africa goes to four countries: Nigeria, Kenya, South Africa and Egypt.

In the last year, the number of startups reaching out to VCs in other countries has increased. According to Partech's report, investments outside of the Big Four increased to over $1 billion.

The interest in other African countries has suddenly increased.

Quality deals are what investors look for in these markets. The deals in the Big Four have become more expensive and competitive with the entry of foreign investors.