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Monday, 12 April 2021

Egypt tops Africa in equity deals for tech-startups in 2020: IDSC

Egypt acquired 28% of the investments directed to the continent's fintech sector, about $21.8 million, as well as 50% of investments in logistics, mobility and educational technology

Doaa A.Moneim , Thursday 25 Feb 2021
Egypt
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The Egyptian cabinet’s Information and Decision Support Center (IDSC) published on Thursday an infograph showing that Egypt tops Africa in the number of equity deals for tech startups in 2020.

The infograph is based on the findings of a report titled ‘2020 Africa Tech Venture Capital’ issued by Partech Partners in February 2021.

Egypt saw a rise of 83 percent with 86 equity deals, putting it in the top spot in Africa, followed by South Africa with 72 deals, and Nigeria with 71 deals.

Egypt also ranked third in the total volume of deals with investments amounting to $269 million, after Nigeria and Kenya.

Egypt also acquired 28 percent of the investments directed to the continent's fintech sector, about $21.8 million, as well as 50 percent of investments in logistics, mobility and educational technology.

The value of investments in the health technology sector amounted to about $55 million, followed by the enterprise sector with investments of $42 million.

The 2020 Africa Tech Venture Capital report monitors the digital and technological venture capital equity deals that exceed $200,000 in African startups, excluding grants, prizes, loans, conventional debt, venture debt, non-equity/technical assistance, post-IPO, merger and acquisition deals.

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