Funding for African startups increases to $160m

M-Kopa Solar Solutions Managing Director Jesse Moore speaks during the launch of a report. M-Kopa Solar received $10 million in African startups funding in the first half of 2018. FILE PHOTO | NMG

African startups have received more than $160 million in the first half of this year, driven largely by Kenyan and Nigerian firms, surpassing the 2017 funding.

A report by research and publishing firm WeeTracker shows that five Kenyan startups, mainly fintech firms, were among 10 companies that secured the highest amount of capital.