Thread by @SheilahBirgen

In 2020, Kenyan startups raised combined total of US$191,381,000 (Kshs 21+ Billion). That was 27.3% of the continent’s total investment. It was the largest amount of funding ever achieved by a single African country.
@DisruptAfrica

This sooo HUGE! Let me explain why. A thread

Kenya is a small country by population with only around 53M people. Kenya is 7th in Africa, we are 3rd in East Africa, after Ethiopia and Tanzania. Accounting for 0.69 % of the world population. Ohh, and only 28 % live in the urban areas. So, mostly a rural majority populace.

According to Africa Infrastructure Development Index (2018) Kenya was ranked position 18 in Africa. The index looks at i) electricity; (ii)transport; (iii) ICT; and (iv) water and sanitation. All these are critical resources in growing a robust ecosystem.

According to GDP of African countries , Kenya is ranked 8th/9th (again, not even top in East Africa. In fact in almost all rankings, Kenya is behind Ethiopia and or Tanzania). This somehow affects purchasing power parity of a country.

So then, how does Kenya a lower middle income country, with a small population and lower GDP do this? Kenya is 3rd in Africa(technically first if you calculate as a % of the total population) in Africa with more that 40M internet users.
Internet is fairly stable &reliable

Reliable electricity, easy global transportation, multiculturalism, political stability*, lower language barrier and higher tech awareness by users are some of the factors. But also, Kenya is the most diverse and inclusive tech and digital ecosystem in Africa.

I can even break it down even further to:
Easy access to community,
accessibility and availability of human resource,
availability of business and investment support services,
robust digital media user base,
very fast developing e-commerce, social commerce and Fintech sectors

I am so bullish about tech in Africa! There are many reasons to be hopeful. In Kenya, definitely, innovation and technology are at the centre of whatever is happening. I hope whichever policies we pass in Kenya we look at these numbers and the long term game to improve biz!

BTW, also notice how many countries are setting up their innovation centres and Programs in Kenya. Japanese Ninja Accelerator, UK-Kenya Tech hub and other innovation+investments initiatives, Iran innovation Hub, Transsion Future Hub (Chinese), Founder Institute(US) etc