African Fintech Funding & Funding Deals in H1 2024, by Country

Fintech remained a powerhouse in Africa's VC landscape during the first half of 2024, securing $254.6 million across 69 deals, accounting for 35% of total funding and 23% of all deals. South Africa dominated the sector, attracting 61.7% of fintech funding with $157 million across 9 deals. Egypt followed, securing $44.2 million from 13 deals, while Nigeria, despite having the highest number of deals at 16, garnered $29.4 million. Kenya and Ghana also contributed, highlighting the widespread interest in fintech innovation across the continent. 

This surge in fintech investment highlights the critical role these technologies play in addressing the continent’s unique challenges, such as financial inclusion and the transition from cash-based economies to digital financial services. As fintech continues to break down barriers to banking and payments, it’s driving transformative change across Africa, making it a magnet for venture capital eager to tap into this evolution.