Kenya Named 2nd Most Popular Investment Country In Africa

Kenya has emerged the second most popular investment country in Africa.

In a report dubbed, Kenyan Startup Ecosystem Report 2022, Disrupt Africa named Kenya after Nigeria.

With 97.4 percent startups tracked, Nairobi was hailed for being home of innovative start-ups, further being ranked the leading hub of Africa tech.

“Kenya has a well-established reputation as a pioneer in Africa’s tech space, but its journey has been far from smooth,” Disrupt Africa co-founder Gabriella Mulligan said.

Newtown Partners managing partner Llew Claasen added; “Kenya is the leading hub for technology startups in Eastern Africa and holds exciting opportunities for the future.”

In February this year, Kenya was ranked among African countries with most developed startups ecosystems.

Kenya increased one spot to rank 61st globally, first in Eastern Africa and second in Africa.

Nairobi also ranked in the top 100 globally for Foodtech, Transportation Technology, and Energy & Environment Technology.

Contributing to the improvement in Kenya’s ranking for 2021, Mombasa is new to the rankings as the 2nd city in Kenya at 756th.

Elsewhere, Kenya was ranked the best country in Africa to start and run a business.

A latest ranking by the US News and World Report indicated that Kenya improved from position 39 in 2021 to position 26 globally.

Kenya was ranked top with 53.9 points ahead of other African countries such as Ghana which was ranked position 41 globally, Cameroon (position 50 globally) and Zambia (position 62 globally).

“The list is based on respondents’ association of various countries with five particular attributes: affordable, bureaucratic, cheap manufacturing costs, connected to the rest of the world and provides easy access to capital,” read the statement in part.