Kenya Tops Chart as Africa’s Premier Investment Hub – Report
In the most recent edition of the “Africa Investment Report 2023” by Briter Bridges, Kenya shines as the top pick for investors exploring opportunities on the continent.
Over the past year, Kenya has successfully attracted Sh131 billion ($806 million) in investments, securing its leading position. Egypt closely follows with Sh110 billion ($675 million), while Nigeria and South Africa have also become notable investment magnets, drawing in Sh93 billion ($575 million) and Sh92 billion ($565 million) respectively.
The report underscores how these four nations have fostered an investor-friendly environment, establishing themselves as strategic hubs for businesses eyeing expansion into neighboring regions.
Within this timeframe, Rwanda secured the sixth spot in investment attraction, accumulating a total investment of Sh57 billion across diverse projects. Other nations such as Tunisia, Benin, and Ghana also experienced substantial funding, amounting to Sh57 billion, Sh74 million, and Sh11 billion respectively.
Notably, Tanzania and Uganda have emerged as budding investment hubs in 2023. While Kenya, South Africa, and Ghana have taken the lead with over 500 collective transactions, other locations are now gaining attention as potential funding hotspots due to significant deals or new investors exploring previously untapped sectors.
Tunisia and Rwanda have notably made significant strides in securing funding that rivals the traditionally dominant four nations. This progress can be attributed to substantial investments in companies like Zipline and InstaDeep.
The funds have been distributed across various industries, including fintech, cleantech, health, IT, agriculture, e-commerce, and entertainment. Fintech, accounting for over 23% of the investments in 2023, experienced growth despite the introduction of specialized funds redirecting investments towards sectors like health and biotechnology, climate and cleantech, and logistics.
