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Presenting the 2022 Partech Africa Report: Resilient African Tech Ecosystem Still Growing with $6.5 Billion Raised in 2022

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Partech Africa

Partech Africa, the VC fund dedicated to technology startups in Africa, has issued its annual report on Africa Tech Venture Capital

DAKAR, Senegal, January 24, 2023/APO Group/ — 

Amid the drastic pullback in global VC funding, the African tech ecosystem stands out with +8% growth from 2021. Debt funding doubled in volume to $1.5B, accounting for nearly a quarter of the total funding. Fintech, still leading, attracted 39% of the total equity volume; Nigeria retained the top spot with 23%

Partech Africa, the VC fund dedicated to technology startups in Africa, has issued its annual report on Africa Tech Venture Capital. The report, which aims to provide a practical picture of the state of the ecosystem, revealed that despite the global VC downturn, the African tech ecosystem grew faster than all other markets globally. 

Total funding invested into tech startups on the continent reached $6.5B, an increase of 8% vs 2021, spread across 764 deals – compared to 724 rounds in 2021. The report, consisting of disclosed and confidential deals, saw debt funding more than double in volume, reaching $1.55 billion through 71 deals [65% YoY growth]. In comparison, equity rounds showed a slight decline, as 653 African tech startups raised $4.9B [-6%] in 693 equity rounds [2% YoY growth].

Focusing on the equity funding, the report revealed the ecosystem was still accelerating during Q1 and Q2 of 2022 compared to 2021, with the YoY comparison showing Q1 and Q2 at +127% YoY and +83% YoY, respectively. However, the global VC slowdown stifled growth in activity in Q3 [-65% YoY] and Q4 [-35% YoY]. In 2022, fundraising activities remained flat across all stages. At $1.4M, Seed+ ticket sizes averaged higher in 2022 [+12% YoY], while Series A remained the same at $8.5M. Later stages reverted to 2019 levels, as Series B and Growth round sizes dropped by -23% and -50% YoY, respectively. In addition, 2022 witnessed a significant reduction in the number of megadeals [over 100M], with only seven deals compared to 14 in 2021.

2022 was a particularly challenging year for the venture ecosystem worldwide, as venture and growth investors scaled back their investment by a third

Speaking on the launch of the annual report, Tidjane Deme, General Partner at Partech, said: “2022 was a particularly challenging year for the venture ecosystem worldwide, as venture and growth investors scaled back their investment by a third. However, by comparison, our report revealed the African tech ecosystem showed great resilience, as more investors have doubled their commitment to the continent by investing in local teams and funds dedicated to the market, which is proving to be the best way forward.”

Overall, Nigeria, South Africa, Egypt and Kenya remain the top investment destinations in Africa, with a share of total volume staying relatively steady at 72%. Nigeria retained the top rank, bringing in  $1.2B in capital, despite a decline of 36% from 2021; South Africa, Egypt, and Kenya each attracted over $0.7B in funding, with Ghana completing the top 5 with just over $0.2B. Overall, 28 countries attracted equity funding in 2022, 13 of them in Francophone Africa..

In light of the market downturn, the report’s findings also revealed that Fintech, which has historically attracted sizable investments, was the most impacted by the slowdown in the number of large rounds. However, fintech remains the most funded sector in Africa, and this across all sources of capital, with 39% of the total equity volume [$1.9B] and 45% of the total debt volume [$691M]. Other sectors have experienced substantial growth and gained a meaningful share of the equity funding activity this year, most notably Cleantech, which made a big comeback with 18% of total equity funding at $863M [+347% YoY] but also 39% of the total debt funding at $605M. 

The report’s findings also show:

  • Female-founded startups raised 22% of all equity rounds in 2022, up 2 percentage points from 20% in 2021. They also contributed $644 Million or 13% of the total equity funding, down 3 percentage points from 16% in 2021.
  • Outside of the top 4 countries, Ghana ($202 million), Algeria ($150 million), Tunisia ($117 million) and Senegal ($105 million) were the only other countries that broke the $100M funding mark.
  • Despite a slowdown in the growth rate of equity investors, Africa’s tech ecosystem attracted 1,149 unique investors for the first time [+29% YoY in 2021]. African tech has seen more investors committed, with 89 participating in 5 or more deals (compared to 65 investors in 2021).
  • The number of debt investors active on the continent is growing 2.5x YoY, with a good mix of local debt institutions, international lenders with emerging market vehicles and Development Finance Institutions.

Cyril Collon, General Partner at Partech, added: “Much of our methodology has remained the same over the years, and we, therefore, can provide a snapshot of how the African continent has evolved over the years. Nigerian and the fintech vertical have remained at the top spot; however, in an environment where equity funding is more challenging, debt has proved to be a solid alternative source of African tech startups in 2022, which signals a maturity within each sector.”

Headquartered in Dakar, Partech Africa is the largest VC fund dedicated to technology startups in Africa. With a focus on Late Seed, Series A and B equity rounds in startups which are changing the way technology is used across multiple sectors, including education, mobility, finance and healthcare, the VC has, to date, invested in 17 African startups, such as Wave (http://bit.ly/3J9lGqy) and TradeDepot (http://bit.ly/3R2IgD9). Using the same methodology as previous years, the seventh Partech Africa annual report on African tech start-ups only includes equity rounds where the total amount is higher than US$200K.

To download the full ‘2022 Africa Tech Venture Capital’ report, click here (https://bit.ly/3R5mChF).

Distributed by APO Group on behalf of Partech Partners.

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The Bench rebrands Africa Hospitality Investment Forum (AHIF) as Future Hospitality Summit Africa (FHS Africa) under unified Future Hospitality Summit portfolio

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At AHIF 2024, over $365 million in deals were signed, further solidifying the event’s role as a catalyst for investment across the region

DUBAI, United Arab Emirates, February 4, 2025/APO Group/ — 

The Bench (TheBench.com), a global leader in hospitality investment events, is rebranding the Africa Hospitality Investment Forum (AHIF) as Future Hospitality Summit Africa (FHS Africa). Doing so brings AHIF, Africa’s most influential tourism investment conference, under The Bench’s flagship Future Hospitality Summit, or ‘FHS’ brand, aligning it with FHS Saudi Arabia and the Dubai-based FHS World. This evolution is a response to a growing appetite for hospitality investment spreading across the whole Middle East and Africa (MEA) region.

For over a decade, AHIF has shaped Africa’s hospitality industry, bringing together global investors, government leaders, and hotel developers to facilitate high-value deals and meaningful discussions, ranging from investment opportunities to government policy and infrastructure developments. The event has catalysed billions of dollars in investment, strengthened regional partnerships, and provided a dedicated space for investors to unlock opportunities in Africa’s rapidly expanding hospitality sector.

The appetite for hospitality investment in Africa has never been stronger. The continent has a record-breaking pipeline of hotel developments, with over 300,000 new ‘keys’ projected by 2030. Cities like Nairobi, Casablanca, Cape Town, and Addis Ababa are leading this transformation, with Nairobi’s Average Daily Rate (ADR) increasing by 164% and Casablanca’s ADR rising by 141% compared to 2019.

Africa’s post-pandemic recovery has outpaced global expectations, with demand exceeding 2019 levels for nine consecutive months. International arrivals are projected to grow by 6-7% annually, reinforcing Africa’s position as an attractive destinatione for hospitality and tourism investment. At AHIF 2024, over $365 million in deals were signed, further solidifying the event’s role as a catalyst for investment across the region.

With Africa’s investment potential gaining global attention, FHS Africa will provide a focused, high-impact platform

Set to take place from 17-19 June 2025 in Cape Town, FHS Africa will provide a highly curated environment where investors, developers, and industry leaders will engage in forward-looking discussions tailored to the region’s opportunities and challenges. Key themes for 2025 will include:

  • Financing Models: Structuring investments to drive sustainable growth in Africa’s evolving markets.
  • Sustainable Investment & ESG: Making environmental and social governance a profitable venture rather than a cost.
  • Cross-Border Collaboration: Exploring policies and infrastructure advancements that can boost intra-African trade and tourism.
  • Branded Residences & Mixed-Use Developments: Understanding the rise of alternative asset classes in hospitality.
  • Technology & Innovation: The role of AI, blockchain, and digital transformation in African hospitality.

While FHS Africa remains, the leading event dedicated to Africa’s hospitality sector, its integration into the FHS ecosystem ensures that African stakeholders benefit from increased exposure at FHS World—the largest hospitality investment gathering in the region. This closer connection allows African markets to be positioned within a broader investment context, attracting more international capital, expertise, and strategic collaboration.

With its status as a global hub, Dubai serves as the operational headquarters for many international corporations, including The Bench, and plays a pivotal role in fostering investment into African markets. The city offers over 50 daily flights to major African destinations, enhancing accessibility for investors and business leaders alike. Dubai’s position as a financial and innovation hub makes it an ideal launchpad for deeper engagement with Africa’s growing tourism economy.

The FHS portfolio unites the hospitality sector’s most influential meetings under one roof. By consolidating its flagship events, The Bench enhances the industry’s ability to connect major stakeholders, drive investment, and foster cross-market collaboration. The presence of the world’s leading hotel groups, investment firms, and policymakers at all FHS events underscores its role as the premier hospitality investment network in the region.

“This transformation marks a pivotal moment for The Bench and the African hospitality sector,” said Matthew Weihs, Managing Director of The Bench. “With Africa’s investment potential gaining global attention, FHS Africa will provide a focused, high-impact platform, while FHS World ensures that African markets are showcased on the biggest investment stage. The synergy between these events will accelerate deal-making, policy engagement, and long-term industry growth.

He concluded: “With the launch of FHS Africa in 2025, The Bench is reaffirming its commitment to shaping Africa’s hospitality future through knowledge-sharing, investment facilitation, and strategic partnerships. As the industry continues to evolve, this rebranding ensures that stakeholders receive a more structured, globally integrated experience—designed to unlock Africa’s full potential as the next major frontier for hospitality investment.”

Distributed by APO Group on behalf of The Bench.

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Canon places in top 10 for 41 years running in United States (U.S.) patent ranking and ranks first for the 20th consecutive year among Japanese companies

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The United States, with its concentration of high-tech companies and its large market scale, is a particularly important region in terms of business expansion and technology alliances

DUBAI, United Arab Emirates, February 3, 2025/APO Group/ — 

In 2024, Canon (Canon-CNA.com) ranked ninth in the number of patents registered in the United States Patent and Trademark Office (USPTO), placing it in the world’s top 10 for 41 consecutive years, according to IFI CLAIMS Patent Services, a US-based patent research firm. Moreover, Canon ranked first among Japanese companies for the 20th consecutive year.

Canon emphasizes the importance of obtaining patents not only in Japan but also internationally. It promotes patent filing based on regional business strategies, as well as technology advancement and product trends. The United States, with its concentration of high-tech companies and its large market scale, is a particularly important region in terms of business expansion and technology alliances.

Top 15 companies by number of US patents obtained in 2024*

RankPatent holderNumber of patents
1Samsung Electronics Co Ltd6,377
2Taiwan Semiconductor Manufacturing Co TSMC Ltd3,989
3Qualcomm Inc3,422
4Apple Inc3,082
5Huawei Technologies Co Ltd3,046
6LG Electronics Inc2,768
7Samsung Display Co Ltd2,596
8International Business Machines Corp2,465
9Canon Inc2,329
10Google LLC2,054
11Intel Corp1,931
12BOE Technology Group Co Ltd1,870
13Micron Technology Inc1,796
14Toyota Motor Corp1,779
15Microsoft Technology Licensing LLC1,707

*Numbers of patents based on figures released by IFI CLAIMS Patent Services (as of January 15, 2025).

Canon makes maximum use of its intellectual property portfolio to enhance corporate value by supporting the evolution of management and business while examining various environmental changes to foresee future social and economic trends. In addition to focusing on the acquisition of intellectual property rights related to core business competencies, Canon devotes significant resources to the acquisition of intellectual property rights that anticipate future developments, including those related to versatile technologies in such fields as AI and IoT, industry standards, and the environment, to create new businesses. Leveraging its intellectual property portfolio, Canon is working to boost its business expansion by securing both its current competitive advantage and the freedom to conduct business in the future, while obtaining licensing revenues to compensate development costs.

Canon will continue its intellectual property initiatives with the goal of supporting its businesses, providing products and services with higher added value, and contributing to a better society.

Distributed by APO Group on behalf of Canon Central and North Africa (CCNA).

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Former Africa Finance Corporation (AFC) Executive Board Member Sanjeev ‘SG’ Gupta, Joins APO Group as Senior Advisor to the Founder and Chairman

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Mr Gupta will collaborate with APO Group to advise African leadership on crafting and implementing coherent, well-articulated communication strategies that are aligned to their strategic goals and development priorities

JOHANNESBURG, South Africa, February 3, 2025/APO Group/ — 

APO Group (www.APO-opa.com), the award-winning pan-African communications consultancy and press release distribution service, is pleased to announce the appointment of Sanjeev ‘SG’ Gupta as Senior Advisor to its Founder and Chairman, Nicolas Pompigne-Mognard (www.Pompigne-Mognard.com). In this role, Mr Gupta will assist APO Group in guiding African governments and corporations to harness the power of public relations and strategic communication to attract vital investments, amplify their competitive advantages, and unlock their growth potential. His experience will be invaluable in developing compelling and globally resonant narratives that not only highlight the unique opportunities but also inspire investor confidence and foster an environment primed for sustainable growth.

This strategic relationship highlights APO Group’s commitment to furthering its impact on the African continent by empowering African governments and the private sector to create coherent branding and communication strategies that is recognised internationally as a balanced and constructive argument on African realities and opportunities.

Gupta brings over three decades of distinguished experience in finance and investment, particularly within African markets. As the former Executive Director of Financial Services at the Africa Finance Corporation (AFC), a leading pan-African multilateral development finance institution, Gupta played a pivotal role in shaping Africa’s infrastructure and economic development landscape. During his tenure, AFC raised well over USD 10 billion from diverse funding sources and maintained an A3 investment-grade credit rating during what has been another decade of extreme turbulence and an enhanced risk environment for the continent. The Treasury team under his guidance was named “Best Supranational Treasury & Funding Team of the Year”. 

APO Group’s dedication to showcasing Africa’s potential resonates deeply with my own commitment to fostering sustainable development and investment across the continent

Mr Gupta has been a vocal advocate for integrating climate considerations into investment decisions, promoting sustainable development, and through his academic interests has nurtured young professionals globally to understand and appreciate the African relevance to global challenges better. 

A powerful orator and a passionate campaigner for a fair role for Africa on the global stage, he has been particularly successful in structuring significant investment flows into Africa along with African domestic capital to provide equitable returns to both private and public investors on transformational projects on the continent. 

Gupta has consistently highlighted that unlocking Africa’s demographic dividend is a vital priority, alongside the need for the continent to firmly establish itself as a leading source of solutions to critical global challenges.  

Nicolas Pompigne-Mognard, Founder and Chairman of APO Group, said: “Sanjeev’s extensive experience and visionary leadership in African finance are truly unique as we seek to work together to amplify the continent’s stories on the global stage. His expertise and extensive network will be instrumental in advancing APO Group’s mission to promote positive and impactful narratives about Africa.” 

Speaking on his new role, Gupta stated: “I am delighted to join APO Group and collaborate with Nicolas and his exceptional team. APO Group’s dedication to showcasing Africa’s potential resonates deeply with my own commitment to fostering sustainable development and investment across the continent. I look forward to contributing to APO Group’s efforts to ensure Africa is heard and accurately understood by all relevant stakeholders, so that both the African voice and the critical role it must play in building a better world are fully embraced and acted upon”. 

Distributed by APO Group on behalf of APO Group.

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