Africa’s 2023 investment hotspots list dominated by Kenya, Egypt, Nigeria and S.Africa — report

Kenya, Egypt, Nigeria, and South Africa have emerged as the top investment destinations in Africa for funding in 2023, as the quartet of markets collectively accounted for a dominant 68% share of the continent’s total investment influx last year, according to a new report.
The report entitled ‘The Africa Investment Report 2023’ provides a compelling narrative of growth and expansion that Africa’s investment landscape is now going through. According to the report, Kenya, Egypt, Nigeria, and South Africa have continued to solidify their positions as the ‘Big Four’ destinations for funding in Africa. Kenya received the highest $806 million, followed by Egypt with $675 million, Nigeria with $575 million, and South Africa closely behind with $565 million. According to the report, these countries have continued to solidify their positions as the ‘Big Four’ destinations for funding in Africa.
This concentrated growth reflects these nations’ attractiveness for investors and their increasing role as regional hubs for international companies looking to expand across Africa. The report also highlights the vigor of emerging markets, with countries like Tunisia, Rwanda, and Ghana quickly becoming hotspots for funding, with reflects a diversifying landscape that is attracting investors to new geographies and opportunities. Another interesting insight from the report revealed that Fintech remains the biggest sector, reeling in substantial investments and accounting for 23% of total deals in 2023. The report also spotlighted other burgeoning sectors such as health, education, and agriculture, each with at least a 10% slice of the investment pie.