Kenya's 🇰🇪 Fintech Startups 🚀 from 2022
Kenya's fintech ecosystem is an African tech success story. 4G Internet covers 77% of the Kenyan population, with 3G covering 94%.
Good afternoon,
Today, we are collaborating with an Australian 🇦🇺 based Africa focused venture fund Proximity Ventures led by Caleb Maru who also authors an incredible newsletter on the African startup scene Prox Weekly you can subscribe to here.
3 things you need to know:
98% of Kenya’s population had a mobile phone (the global average is 67%)
59% of the population has internet access and mobile money (called M-Pesa) was introduced in 2007 is used by 96% of Kenyan household)
The biggest raise? The digital commerce marketplace, Marketforce that facilitates trade among Africa’s informal merchants and consumer brands raised $40 million
Follow the money
Microsoft launched a $27m African Development Center in March, hiring 450 people.
Google announced a Product Development Hub, and will hire 100 people in the city.
Visa is launching an ‘Innovation Hub’ in Nairobi later this year.
AWSÂ also plans to set up a hub in Nairobi
[Africa The Big Deal Data is from January - July 2022]
→ From January to October 2022, 25 Kenyan fintech startups raised a total of $120.4 Million
→ The digital commerce marketplace, Marketforce that facilitates trade among Africa’s informal merchants and consumer brands raised $40 million
→ 43 Kenyan founders behind 25 Kenyan 🇰🇪 fintech startups that raised a total of $120 Million in 2022. The digital commerce marketplace that facilitates trade among Africa's informal merchants and consumer brands raised $40 million
Preamble Dark Mode
→ From January to October 2022 Kenyan fintech startups raised a total of $120.4 Million
→ The digital commerce marketplace, Marketforce that facilitates trade among Africa’s informal merchants and consumer brands raised $40 million
→ 43 Kenyan founders behind 25 Kenyan 🇰🇪 fintech startups that raised a total of $120 Million in 2022. The digital commerce marketplace that facilitates trade among Africa's informal merchants and consumer brands raised $40 million
Preamble Plus
Africa's 10 highest paid heads of states in U.S. dollars. Cameroonian head of state Paul Biya is the second-longest-ruling president in Africa and the highest paid with a salary of $620, 976 followed by King Mohammed VI of Morocco with a salary of $152, 000 and South African president Cyril Ramaphosa at $223, 500