Over $4.9 billion was attracted by Africa as investment deals, and Nigeria accounted for the lion share compared to funds received by other countries on the continent, a new report shows.
Nigeria topped South Africa, Kenya and Egypt in the boardroom deals, which was split into unannounced disclosed funding of $4.65 billion, and undisclosed deals of which accounted for $300 million.
This brought the total investment deals into Africa to $4.9 billion according to African Investment Report 2021 by Briter Bridges, which used data sourced from investors.
The $4.9 billion was secured in more than 480 deals which was led by Nigeria on the country segment, and Financial Technology (Fintech) on the market category.
According to the report, Fintechs accounted for 62 percent of the total funding, while 8 percent and 7 percent were of the capital went to health & biotech and logistics respectively.
A further breakdown showed that investors concentrated their funds on payments, solar home kits, assets financing, Point of Sales (POS), banking, while most of the deals were recorded by payment, transfers, banking, medical delivery, B2B commerce, and professional skill development amongst others.
Source: ripplesnigeria