Kenya passes the Blue Cheese Test. When I traveled Africa as a 23-year-old in 2010, I was struck by something unique in the typical Kenyan supermarkets: Blue Cheese. This didn't exist in other African countries I had visited. If Kenya had blue cheese (locally made by BrownsCheese) this meant there was a middle class, cold-chains and local entrepreneurship. Passing the Blue Cheese Test suggests Stainless Steel pipes, quality accountants, etc are also available. 14 years later the Blue Cheese Test still proves its value: Kenyan startups are the largest recipients of investment in Africa.
🌍 Start-ups in #Africa have raised $780 million in funding in the first half of the year. But which countries/regions attracted most of these investments?... The Big Four continued to dominate the charts: 🇰🇪 Kenya - $240m - 32% 🇳🇬 Nigeria - $172m - 23% 🇪🇬 Egypt - $101m - 13% 🇿🇦 South Africa - $85m - 11% 🌍 'Rest of Africa' - 18 countries - $158m - 21% 🏳️ 32 countries registered no significant activity ($100k+ deals) in H1 The Big Four's dominance influences heavily how the regional split looks: ➡️ Eastern Africa - $285m - 37.5% ⬅️ Western Africa - $270m - 35.5% ⬆️ Northern Africa - $115m - 15% ⬇️ Southern Africa - $87m - 11.5% ↔️ Central Africa - $4m - 0.5% To find out more, check out my latest post for Africa: The Big Deal Here: https://lnkd.in/ejujbXNk --- #startups #startupfunding #vcfunding #africatech #africarising #Kenya #Nigeria #Egypt #SouthAfrica
Finance Professional | Clean Energy | Sustainability
2wInteresting Have to wait and see how much the capital is actually harnessed and further progression