Investments in African firms across different sectors doubled in 2021 as global investors sought to tap into the growing opportunities on the continent.
According to the latest Africa Investment Report by Briter Bridges, 500 African startups raised a combined $5 billion, reflecting a surge of investor confidence in the continent’s market despite the Covid-19 pandemic.
Rwandan based firms also featured among the top recipients of investments, underlining the country’s goals to increase the ability of local firms, especially startups to mobilise capital.
Rwandan based firms that hauled in more capital include Ampersand, which is involved in electric motorcycles, and Zipline –which is involved in delivery of medical supplies using drones.
Other firms which have presence in Rwanda and received top funding include Zola Electric which is involved in renewable energy, Chipper Cash which is debuting the fintech sector, Andela among others.
Zipline raised…
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