In 2024, Kenya led Africa in venture capital (VC) funding, securing $638 million, which represented 29% of the continent’s total $2.2 billion raised. This marked a decline from 2023, reflecting a broader trend of reduced funding across Africa due to economic challenges. The ‘Big Four’ ecosystems (Kenya, Egypt, South Africa, and Nigeria) collectively attracted 84% of the funding, with notable contributions from climate tech ventures. Despite the downturn, 188 ventures still raised over $1 million. East Africa, particularly Kenya, remained a key player, but experienced an 18% year-on-year drop in VC funding.