ENERGY SECTOR CAPTURES 40% OF AFRICAN START-UP FUNDING IN 2015

(Ecofin Agency) – According to a recent report by Disrupt Africa, African start-ups have mobilized a total of $185.7 million in funding in 2015. In total 125 companies benefitted from various financing rounds.

By sector, energy has mobilized the most funding, accounting for 39.7% of investments. This performance was driven by the $19 million mobilized by the Kenyan company M-Kopa, which offers on demand solar energy services and devices. It was also driven by Off Electric Grid, based in Tanzania, which has mobilized nearly $25 million.

The report also indicates that financial technology companies ranked second with regard to the mobilization of funds, having mobilized 24.5%. This included smaller players such as Asoko Insight.

Geographically, 36% of the capital was channeled to South Africa, followed by Nigeria (24%), and Kenya (14.4%). Other beneficiary countries were Egypt, Tanzania, and Ghana.

Agence EcoFin