Browsing: Africa’s startup ecosystem

• Africa’s startup funding ecosystem experienced a decline in 2024, with total investments dropping by 25% to $2.2 billion amidst a global economic slowdown.
• However, a strong rebound in the second half, driven by two unicorn deals, highlighted the sector’s resilience and potential.
• Regional leaders Kenya, Nigeria, and Egypt continued to dominate, signaling sustained investor interest despite the challenges.

Africa’s startup funding ecosystem experienced a notable decline in 2024, reflecting the broader global funding drought that defined the year. Startups on the continent collectively raised $2.2 billion in equity, debt, and grants (excluding exits), a substantial amount but a sharp 25 per cent drop compared to the $2.9 billion secured in 2023.

Despite the downturn, the year was marked by pockets of resilience, strategic wins, and a glimpse of recovery in the latter half, an annual analysis by Africa: The Big Deal shows.

Startup funding in Africa

In 2024, an estimated …