Over the past six years, Egyptian tech companies have dominated the North African region in terms of funding raised. Algeria has mobilized only 1% of the total funds raised in the region since 2015.
Egypt is considered to be the hub of technology companies in North Africa, as the country has attracted, since 2015, 80% of the total investments made in the region, says the platform Baobab Insights in a new report published October 4.
Tunisia, presented as the second largest technological pole in North Africa has concentrated only 11% of the total funding raised by start-ups in the region, since 2015. Morocco occupies the third position with 8%, while Algeria is only harvesting 1% of the overall amount raised by technology companies in the region.
In general, the number and value of transactions concluded by these North African companies over the period from 2015 to August 2021 have grown steadily, except for the years 2018 and 2020. For the first half of the year in Over the course, start-ups in the region have raised $ 166.1 million through 52 rounds of financing.
85% of the total funds were mobilized by 10 start-ups. Egyptian logistics and transport company Trella raised the highest amount in its first six months of the year, at $ 42 million.
If Egypt was able to count on its strong demographic growth and the rapid adoption of technologies by the populations to strengthen its entrepreneurial ecosystem, the Tunisian tech, on the other hand, took more advantage of the Start-up Act in 2018. This legal framework has stimulated the technological landscape and encouraged the emergence of start-ups, with funding and tax breaks.