Uganda overtakes Rwanda, Tanzania in startup funding

Artificial Intelligence

An engineer supervising an automated AI robot arms used to control operations in a factory.

Photo credit: SHUTTERSTOCK 

Uganda has overtaken Rwanda and Tanzania as a leading destination for startup funding in East Africa, buoyed by rising support from Pan-African financiers and stronger local backing.

For the first time, Ugandan startups attracted more venture capital than their regional counterparts in Rwanda and Tanzania, signalling a change in regional investment dynamics.