Nigeria has emerged as the top country for venture capital investments in 2022, a new report by the Africa Private Equity and Venture Capital Association, has revealed.
In its annual report, titled “2022 AVCA Venture Capital in Africa Report”, the continental body said that Nigeria outperformed other countries that made the list to account for 22 per cent
The report said, “By region, West Africa maintained the top spot for the second consecutive year, with Nigeria as the most active country both in the region and on the continent.
“West Africa attracted the largest proportion of venture capital deal volume in Africa (30 per cent), driven by Nigeria which was the most active country by volume at 22 per cent.”
On the continent, dealmaking was concentrated in the financials sector, which assumed 31 per cent of deal volume and 42 per cent of deal value.
Also, 77 per cent of investors active in Africa’s venture landscape in 2022 were international…