Decline in Investor Activity Marks H1 2024, But Local Capital Rises in Africa’s VC Market
- Africa saw a 29% YoY decline in the number of unique investors in H1 2024.
- Investors from South Africa, Kenya, and Nigeria experienced a 46% YoY drop in participation.
- Egyptian investors nearly doubled in number from H1 2023 to H1 2024.
The decline in the number of unique investors in Africa's venture capital market is a cause for concern, especially with the pullback from key markets like South Africa, Kenya, and Nigeria. However, the increase in local investor participation is a positive sign and indicates a growing confidence in the region's entrepreneurial ecosystem. It is crucial for international interest to be revitalized to further stabilize and drive growth in the market.
