Venture Capital in Africa: Promising Trends for 2024 and Beyond

The Current State of Venture Capital in Africa

Venture capital funding has played a crucial role in developing Africa’s digital ecosystem over the past decade. However, the year 2023 saw a significant decline in venture capital funds raised in Africa. According to reports, funding for African tech startups fell by 48% in the first nine months of 2023 compared to the previous year. This decline has had a severe impact on Africa’s startup scene, especially on growth-stage companies.