NextBillion - An Initiative of the William Davidson Institute at the University of Michigan

Tech startups in Africa’s “Big Four” markets—Nigeria, Kenya, Egypt, and South Africa—accounted for 92.13% of all investment raised on the continent in the first six months of this year, per BD Funding Tracker.

According to Peter Oriaifo, Principal at Oui Capital, “In uncertain times, investors will seek to de-risk an already risky investment by concentrating capital in markets where the revenue opportunity is exponentially large, capital will concentrate further on the big four markets.”