Last year Kenya received $800 million in Venture capital funding, emerging the leader in Africa by beating SA, Nigeria and Egypt! Looks like the same thing will happen in 2024! This is despite all the gossip about Kenyan companies shutting down and many of them relocating to neighboring Tanzania! 😅 Tanzania itself receives almost nothing in VC funding! In terms of FDI, Kenya’s attractiveness to investors is starting to wane compared to its regional peers! Like in 2023, Kenya attracted $1.504 billion in FDI, a decrease of 5.85% compared to 2022 when it got $1.597 billion! On the other hand Tanzania attracted $1.34 billion in FDI in 2023, an increase of 5.85% compared to 2022! Ethiopia is the leader in FDI investment since it attracted $3.26 billion followed by Uganda which received $2.89 billion in FDI in 2023! This dip in Kenya’s FDI inflows is as a result of red tape and corruption!
The information provided contains several inaccuracies and requires clarification. Let's address each point: 1. Venture Capital Funding in Kenya: Claim: "Last year, Kenya received $800 million in venture capital funding, emerging as the leader in Africa by surpassing South Africa, Nigeria, and Egypt." Clarification: In 2023, Africa attracted a combined total of $4.5 billion in venture capital and venture debt investments across 603 deals. Kenya's share of this funding was approximately $172 million, accounting for about 23% of the total. While this is a significant portion, it does not make Kenya the leader in Africa, as Nigeria, South Africa, and Egypt also received substantial investments. 2. Venture Capital Funding in 2024: Claim: "Looks like the same thing will happen in 2024!" Clarification: As of mid-2024, African technology and startups secured a total of $780 million in funding, reflecting a 57% decline from the previous year. This indicates a significant decrease in venture capital investments across the continent. 3. Kenyan Companies Shutting Down and Relocating: Claim: "This is despite all the gossip about Kenyan companies shutting down and many of them relocating to neighboring Tanzania!" Clarification: While some Kenyan companies have faced challenges, including financial difficulties and regulatory hurdles, there is no substantial evidence to suggest a widespread trend of companies shutting down or relocating to Tanzania. The business environment in Kenya remains dynamic, with both opportunities and challenges. 4. Tanzania's Venture Capital Funding: Claim: "Tanzania itself receives almost nothing in VC funding!" Clarification: Tanzania's share of venture capital funding is relatively smaller compared to Kenya, Nigeria, South Africa, and Egypt. However, the exact figures for 2023 are not specified in the available sources. It's important to note that venture capital funding can vary significantly year by year and is influenced by various factors, including the maturity of the startup ecosystem and investor confidence. 5. Foreign Direct Investment (FDI) in Kenya: Claim: "In terms of FDI, Kenya’s attractiveness to investors is starting to wane compared to its regional peers! Like in 2023, Kenya attracted $1.504 billion in FDI, a decrease of 5.85% compared to 2022 when it got $1.597 billion!" Clarification: Kenya's FDI inflows have experienced fluctuations. In 2023, Kenya's FDI increased by KES 101,915 million, indicating a positive trend. However, the exact figures for 2023 are not specified in the available sources. It's important to consider that FDI can vary due to numerous factors, including global economic conditions, domestic policies, and sector-specific developments. 6. FDI in Tanzania, Ethiopia, and Uganda: Claim: "On the other hand, Tanzania attracted $1.34 billion in FDI in 2023, an increase of 5.85% compared to 2022! Ethiopia is the leader in FDI investment since it attracted $3.26 billion followed by Uganda which received $2.89 billion in FDI in 2023!" Clarification: The specific FDI figures for Tanzania, Ethiopia, and Uganda in 2023 are not detailed in the available sources. However, it's important to note that FDI inflows can vary significantly year by year and are influenced by various factors, including economic policies, infrastructure development, and sectoral growth. 7. Reasons for Kenya's FDI Decline: Claim: "This dip in Kenya’s FDI inflows is as a result of red tape and corruption!" Clarification: While challenges such as bureaucratic hurdles and corruption can impact FDI inflows, attributing the decline solely to these factors may be an oversimplification. FDI trends are influenced by a complex interplay of factors, including global economic conditions, domestic policies, infrastructure development, and sector-specific opportunities. It's essential to consider a comprehensive analysis when evaluating FDI trends. Conclusion: The original statement contains several inaccuracies and requires a nuanced understanding of the current economic landscape. While Kenya remains a significant player in Africa's venture capital and FDI arenas, the dynamics are complex and influenced by various factors. It's crucial to consult up-to-date and reliable sources to gain an accurate perspective on these matters.
Wrong calculations 1/3 if that is what Kenya received meaning it is 33.33%
That is USD 200 million which means right now any industrial disruption is inevitable which will create a lot of billionaire every year
Wait wote ni wazungu kwani ?
99% inaenda Kwa walami hizi Ni story za ukoloni
Bana 😂 eeh
Last year Kenya received $800 million in Venture capital funding, emerging the leader in Africa by beating SA, Nigeria and Egypt! Looks like the same thing will happen in 2024! This is despite all the gossip about Kenyan companies shutting down and many of them relocating to neighboring Tanzania! 😅 Tanzania itself receives almost nothing in VC funding! In terms of FDI, Kenya’s attractiveness to investors is starting to wane compared to its regional peers! Like in 2023, Kenya attracted $1.504 billion in FDI, a decrease of 5.85% compared to 2022 when it got $1.597 billion! On the other hand Tanzania attracted $1.34 billion in FDI in 2023, an increase of 5.85% compared to 2022! Ethiopia is the leader in FDI investment since it attracted $3.26 billion followed by Uganda which received $2.89 billion in FDI in 2023! This dip in Kenya’s FDI inflows is as a result of red tape and corruption!
What percentage of these funds went to indeginous Africans??
The information provided contains several inaccuracies and requires clarification. Let's address each point:
1. Venture Capital Funding in Kenya:
Claim: "Last year, Kenya received $800 million in venture capital funding, emerging as the leader in Africa by surpassing South Africa, Nigeria, and Egypt."
Clarification: In 2023, Africa attracted a combined total of $4.5 billion in venture capital and venture debt investments across 603 deals. Kenya's share of this funding was approximately $172 million, accounting for about 23% of the total. While this is a significant portion, it does not make Kenya the leader in Africa, as Nigeria, South Africa, and Egypt also received substantial investments.
2. Venture Capital Funding in 2024:
Claim: "Looks like the same thing will happen in 2024!"
Clarification: As of mid-2024, African technology and startups secured a total of $780 million in funding, reflecting a 57% decline from the previous year. This indicates a significant decrease in venture capital investments across the continent.
3. Kenyan Companies Shutting Down and Relocating:
Claim: "This is despite all the gossip about Kenyan companies shutting down and many of them relocating to neighboring Tanzania!"
Clarification: While some Kenyan companies have faced challenges, including financial difficulties and regulatory hurdles, there is no substantial evidence to suggest a widespread trend of companies shutting down or relocating to Tanzania. The business environment in Kenya remains dynamic, with both opportunities and challenges.
4. Tanzania's Venture Capital Funding:
Claim: "Tanzania itself receives almost nothing in VC funding!"
Clarification: Tanzania's share of venture capital funding is relatively smaller compared to Kenya, Nigeria, South Africa, and Egypt. However, the exact figures for 2023 are not specified in the available sources. It's important to note that venture capital funding can vary significantly year by year and is influenced by various factors, including the maturity of the startup ecosystem and investor confidence.
5. Foreign Direct Investment (FDI) in Kenya:
Claim: "In terms of FDI, Kenya’s attractiveness to investors is starting to wane compared to its regional peers! Like in 2023, Kenya attracted $1.504 billion in FDI, a decrease of 5.85% compared to 2022 when it got $1.597 billion!"
Clarification: Kenya's FDI inflows have experienced fluctuations. In 2023, Kenya's FDI increased by KES 101,915 million, indicating a positive trend.
However, the exact figures for 2023 are not specified in the available sources. It's important to consider that FDI can vary due to numerous factors, including global economic conditions, domestic policies, and sector-specific developments.
6. FDI in Tanzania, Ethiopia, and Uganda:
Claim: "On the other hand, Tanzania attracted $1.34 billion in FDI in 2023, an increase of 5.85% compared to 2022! Ethiopia is the leader in FDI investment since it attracted $3.26 billion followed by Uganda which received $2.89 billion in FDI in 2023!"
Clarification: The specific FDI figures for Tanzania, Ethiopia, and Uganda in 2023 are not detailed in the available sources. However, it's important to note that FDI inflows can vary significantly year by year and are influenced by various factors, including economic policies, infrastructure development, and sectoral growth.
7. Reasons for Kenya's FDI Decline:
Claim: "This dip in Kenya’s FDI inflows is as a result of red tape and corruption!"
Clarification: While challenges such as bureaucratic hurdles and corruption can impact FDI inflows, attributing the decline solely to these factors may be an oversimplification. FDI trends are influenced by a complex interplay of factors, including global economic conditions, domestic policies, infrastructure development, and sector-specific opportunities. It's essential to consider a comprehensive analysis when evaluating FDI trends.
Conclusion:
The original statement contains several inaccuracies and requires a nuanced understanding of the current economic landscape. While Kenya remains a significant player in Africa's venture capital and FDI arenas, the dynamics are complex and influenced by various factors. It's crucial to consult up-to-date and reliable sources to gain an accurate perspective on these matters.