Browsing: startup funding in Africa in 2024

startup funding in Africa

African startups secure $1 billion funding in tough capital climate

Investing
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  • This milestone is, however, delayed given that startup funding hit $1 billion in April 2023, as early as February in 2022 and May in 2021.
  • One of the outstanding investments were d.light’s new $176 million securitization deal to enhance the uptake of solar powered equipment in Kenya, Uganda and Tanzania.
  • Another record was Egypt-based MNT-Halan’s $157.5 million raise to fuel their expansion.

With five months to go to the end of 2024, the state of startup funding in Africa looks promising with new businesses attracting over $1 billion by the end of July. According to the startup funding tracker, Africa: The Big Deal, July was “the most successful month in terms of fundraising in Africa in more than a year, and represents what was raised in the whole of Q2 2024.”

This milestone, however, appears to …