Nigeria leads Egypt, South Africa, and others in venture capital

Africa’s largest economy attracted the continent’s highest number of venture capital investments worth $6.5 billion in 2022, a new report from Africa Private Equity and Venture Capital Association (AVCA) has shown.

According to the pan-African industry body, which promotes and enables private investment in Africa, Nigeria outperformed four other countries that made the top list to account for 22 percent of the 853 investment deals worth about $6.5 billion on the continent.

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