As Decline Looms In SA, Push For ‘Long-Overdue’ Startup Act Intensifies
- 41% year-on-year drop in venture funding in 2022.
- South Africa slipped to 3rd and 4th place in Africa's tech ecosystems in 2023 and 2022 respectively.
- Emerging ecosystems like Ghana and Tunisia are building more startup-friendly environments.
The situation in South Africa's tech startup ecosystem is concerning, as the lack of a supportive regulatory framework and slow government response could lead to a further decline in innovation and investment. A proactive approach is essential to ensure that South Africa does not fall behind its competitors in Africa.
