{"id":658462,"date":"2025-01-12T00:00:00","date_gmt":"2025-01-12T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2025\/01\/12\/egypt-leads-startup-activity-in-africa-in-2024\/"},"modified":"2025-01-12T00:00:00","modified_gmt":"2025-01-12T00:00:00","slug":"egypt-leads-startup-activity-in-africa-in-2024","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2025\/01\/12\/egypt-leads-startup-activity-in-africa-in-2024\/","title":{"rendered":"Egypt leads startup activity in Africa in 2024"},"content":{"rendered":"<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Egypt continued to lead startup activity in the continent in 2024<\/strong>, accounting for over a third of the funding the continent received during the year despite seeing a 21% y-o-y drop, according to Magnitt's FY 2024 venture investment summary report. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The figures: <\/strong>Egyptian startups raised a combined USD 329 mn across 78 funding rounds during the year. MNT-Halan closed Egypt, Africa, and MENA\u2019s largest round during the period with its <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e4a054fb-6f5c-42cd-9a16-5181c0003446\/egypt%25e2%2580%2599s-mnt-halan-raises-usd-157.7-mn-from-international-investors\" style=\"\" rel=\"noopener\">USD 157.5 mn round<\/a> announced in July.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Zooming out: <\/strong>African startups raised a total of USD 1.1 bn during the year, marking a 44% y-o-y drop in funding. Startups across the continent closed 294 funding rounds in 2024, a 39% y-o-y dip. The total number of investors in the continent and exits also dipped \u2014 the number of investors fell 18% y-o-y to 385 and the number of exits fell 27% y-o-y to 22. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Brace for a more eventful 12 months on the funding front: <\/strong>\u201c2025 should be the year that some international VC capital returns to more frontier markets \u2014 think Egypt, T\u00fcrkiye and Pakistan \u2014 where it has been largely absent for the last few years,\u201d Endeavor Catalyst Managing Partner Allen Taylor said. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A glance at the region: <\/strong>The UAE led the region in volume of transactions with 188, capturing 41% of all MENA transactions during the year, while KSA dominated total transaction value, with Saudi startups raising some USD 750 mn.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Egyptian startups raised a combined USD 329 mn across 78 funding rounds during the year<\/p>\n","protected":false},"author":1,"featured_media":658463,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7258],"tags":[72,699,95,123,200],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-658462","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-startup-watch","tag-enterpriseam","tag-magnitt","tag-startup-watch","tag-startups","tag-venture-capital","wpautop","entry"],"acf":{"mongo_id":"6b0e3487-5d84-4f84-a5c2-62ad742c7597","order":"13","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2025\/1\/530.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Egypt leads startup activity in Africa in 2024","related_issue":[658439],"teaser":"Egyptian startups raised a combined USD 329 mn across 78 funding rounds during the year","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2025\/1\/.c8e76683-eb7c-46e4-b1a1-0741ef614b4b.mp3"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - 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Egypt saw nine transactions in November (tying with the UAE in first place), that included creative tech startup Argineering,\u2026","rel":"","context":"In &quot;Startup watch&quot;","block_context":{"text":"Startup watch","link":"https:\/\/enterpriseam.com\/egypt\/category\/companies\/startup-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":558208,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/08\/01\/egyptian-startups-raise-26-of-mena-funding-in-1h2021\/","url_meta":{"origin":658462,"position":3},"title":"Egyptian startups raise 26% of MENA funding in 1H2021","author":"enterpriseam admin","date":"1 August 2021","format":false,"excerpt":"Egyptian startups landed some USD 194 mn in venture capital finance in the first half of this year and accounted for 26% of all transactions inked across MENA in the same time period, ITIDA CEO Amr Mahfouz said last week in a statement (pdf). Mahfouz said in public comments that\u2026","rel":"","context":"In &quot;Startup watch&quot;","block_context":{"text":"Startup watch","link":"https:\/\/enterpriseam.com\/egypt\/category\/companies\/startup-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/8\/37.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":640647,"url":"https:\/\/enterpriseam.com\/egypt\/2024\/08\/29\/egyptian-startups-raised-usd-88-7-mn-in-the-first-half-of-2024\/","url_meta":{"origin":658462,"position":4},"title":"Egyptian startups raised USD 88.7 mn in the first half of 2024","author":"enterpriseam admin","date":"29 August 2024","format":false,"excerpt":"Local startups raised a combined USD 88.7 mn across 39 transactions during the first half of the year","rel":"","context":"In &quot;Startup watch&quot;","block_context":{"text":"Startup watch","link":"https:\/\/enterpriseam.com\/egypt\/category\/companies\/startup-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2024\/8\/2568.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":560757,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/03\/11\/fintech-startup-dayra-raises-usd-3-mn-in-pre-seed-funding-round\/","url_meta":{"origin":658462,"position":5},"title":"Fintech startup Dayra raises USD 3 mn in pre-seed funding round","author":"enterpriseam admin","date":"11 March 2021","format":false,"excerpt":"Egyptian fintech startup Dayra has closed a USD 3 mn pre-seed funding round that includes both equity and debt financing, according to a company press release (pdf). EFG EV Fintech, EFG Hermes, Tanmiya Capital Ventures and a number of angel investors all participated in the round, which closed after the\u2026","rel":"","context":"In &quot;Startup watch&quot;","block_context":{"text":"Startup watch","link":"https:\/\/enterpriseam.com\/egypt\/category\/companies\/startup-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/3\/171.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/658462","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=658462"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/658462\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/658439"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/658463"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=658462"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=658462"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=658462"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=658462"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=658462"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}