Browsing: Sendy

• Africa’s venture ecosystem experienced a marked downturn in 2023, mirroring broader declines in venture capital to startups in the global market.
• Both the volume and value of venture capital investment decreased by close to a third in 2023.
•  Africa attracted a combined $4.5 billion in venture capital and venture debt investment during the year, across 603 deals.

The high investor flight seeking better returns from markets abroad negatively impacted on Startups in Africa, as venture capital deals dropped in 2023 amid a turbulent time that saw the closure of some key firms.

Africa’s venture ecosystem experienced a marked downturn in 2023, mirroring broader declines in venture capital to startups in the global market.

After a record-breaking year for investor interest in African ventures, with over 1,100 unique investors participating in deals in 2022, there was a dramatic reversal of this trend last year, industry data shows, as the number …

• In East Africa, cargo transportation costs are exorbitant, ranking among the highest globally
•  High logistics costs translate to expensive basic commodities like food across the continent
• Tech startups are collaborating with various stakeholders to enhance infrastructure and simplify trade, manufacturing, and logistics processes

In East Africa, cargo transportation costs are exorbitant, ranking among the highest globally. A Shippers Council of East Africa (SCEA) survey in 2021 revealed that transporters who use the Northern Corridor, a trucking route serving countries like Kenya, Uganda, Rwanda, Burundi, the DRC, and South Sudan, incur an estimated cost of $1.8 per km per container.

This figure is almost double the global average of $1 per km per container, making logistics complex and expensive for African businesses. The situation has been worsened by the current record-high fuel prices in Kenya, Uganda, and other East African countries.

To add to this, poor infrastructure in several parts of …