West Africa retained its status as the continent’s most active region, accounting for 23% of total deal volume, with Nigeria alone responsible for 16%. The so-called “Big Four” markets—Nigeria, Egypt, Kenya, and South Africa—continued to dominate, representing 55% of total deal volume and 64% of deal value.
Fintech remained the top-funded sector, with 116 deals raising $1.4 billion (or 34% of all tech-enabled rounds). However, other sectors are beginning to emerge. Clean & ClimateTech accounted for 13% of tech-enabled deals in 2024—up from a five-year average of 7%. For the first time, AI broke into the top four verticals, with 42 deals raising $108 million.
