2022: Nigeria emerges as top country for venture capital investment

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, made the revelation.

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 says, 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.

On the continent, deal making was concentrated in the financial 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 investors while 23 per cent were African investors.