In the first quarter of 2022, the US and Asia each recorded 1 per cent year-on-year declines in venture funding. While Africa’s growth in tech has been impressive, startup funding on the continent is still a drop in the ocean of global venture funding. According to CB Insights State of the Venture Report, it represented only 1% of the world’s venture funding in the first quarter of 2022. ).”Not all that glitters…Historically, the second halves of the years have seen more venture funding flow to African startups vis-a-vis the first. And if that hype cycle loses momentum, we might see a decline in startup funding.

Source: The North Africa Journal June 21, 2022 18:00 UTC