Kenyan startups raised Sh17 billion in the first half (H1) of this year, a new report shows, highlighting the country’s attractiveness among international investors.

Latest Africa: The Big Deal, an American newsletter for start-ups, shows that this was a 12 percent improvement from 2024 figures.

However, Kenya was eclipsed by Egypt, which raised Sh42.9 billion in the review period, followed by South Africa (Sh35.3 billion) and Nigeria (Sh20.9 billion).

“In line with previous periods, 84% of the funding has therefore been going to the ‘Big Four’,” the report added.

Fintech start-ups attracted most of the funds at Sh62.6 billion, and then health tech ventures (Sh19.3 billion) as well as energy start-ups (Sh13.7 billion).

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In total, start-ups raised $1.4 billiom in H1.

This comes after the country last year raised Sh82.3 billion, propelling the nation to the top position in Africa’s startup funding rankings.