In the first half of 2023, startup funding on the continent plummeted to over $1 billion. Consequently, many African startups have also been forced to halt their operations due to decreased demand and funding scarcity. Some of these African startups include Dash, Sendy, Wabi, Lazerpay, Zumi, 54gene and Hytch. West Africa led venture capital (VC) deals across the continent, boasting the highest volume in the first half of the year. East Africa ranks second with South Africa and North Africa trailing behind respectively.

Source: The North Africa Journal December 25, 2023 08:17 UTC