By The EastAfrican More by this AuthorFunding for Kenyan startups by international investors declined by $138 million last year amid a fall in the number of deals valued at more than $1 million. Data from American online platform Substack shows that funding for young Kenyan firms fell to $411 million last year from $549 million in 2020, a 25.1 percent drop. “Kenya had a particularly strong 2020, topping the table but failed to continue at the same levels in 2021. Last year’s plunge came after Kenyan startups recorded a funding growth record of $549 million in 2020, up from $184 million in 2019. Kenya is home to several startups, such as Twiga Foods and Komaza, attracting billions of shillings annually from international investors.

Source: Daily Nation January 18, 2022 16:45 UTC