How African startups raised funding in 2023
- VC investments in African startups dropped considerably in 2023, following a global funding slowdown.
- Investors diversified their risks with more funding and deals in French-speaking Africa.
- Fintech sustained its top position as the most funded sector, but there was continued sectoral diversification.
The drop in VC investments in African startups is concerning, but there are some positive trends such as increased funding in French-speaking Africa and sectoral diversification. However, the decrease in investor participation is worrying and may have implications for the future of the ecosystem. Fintech remains a strong sector, but there is a need for more investment in female-led startups.
