Kenya knocked off Africa’s startup funding top spot

What founders should know

Business Daily reports that Kenyan startups raised $126 million in the first half of 2026, placing Kenya third in Africa behind Egypt at $327 million and Nigeria at $254 million. The article cites Africa: The Big Deal and describes Kenya’s total as its weakest first-half result since early 2021.

Kenya’s funding was down from $227 million in the same period of 2025, with founders under pressure to demonstrate sustainable business models. The figures excluded Spiro, which the article says raised $327 million during the period and would be classified as pan-African. The complete article may require a subscription.