Data: African startups raised only $1.3B in the first nine months of 2023, below the $3.3B and $2.9B raised over the same period in 2022 and 2021, respectively (Sultan Quadri/Rest of World)

November 1, 2023

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Sultan Quadri / Rest of World:

Data: African startups raised only $1.3B in the first nine months of 2023, below the $3.3B and $2.9B raised over the same period in 2022 and 2021, respectively — As funding to Africa’s once fast-growing startup ecosystem dries up, industry insiders are worried that the ecosystem is unprepared.

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