A tech research firm, ‘Africa: The Big Deal’, has released report of the Africa’s tech market outlook in 2023.
It revealed the readjustment of investments that was experienced across the continent.
Given that readjustment, nations that were known as the big four tech markets saw their positions shifted.
Nigeria was seen to have lost its top spot to Kenya because it surpassed Nigeria in tech funding and attracted the highest funds in Africa.
Other African nations in the tech financing distribution were Egypt and South Africa.
For a long while, Nigeria took commanding lead in the amount of funds that was invested in its tech market.
But the ‘Africa: The Big Deal’, report stated that in 2023, Kenya had overtaken Nigeria because of its highest amount of tech funds on the continent.
Additionally, the report shows that for the first time in a while, tech funding across the four markets was distributed relatively equally.
