Total investment into the African tech startup ecosystem fell by 27.8 per cent to US$2.4 billion in 2023 as the impacts of the global capital shortage began to make themselves felt on the continent. While the African tech space had an impressive 2022, bucking global trends to see total funding increase to beyond the US$3 billion mark for the first time on record, 2023 signified a reset of sorts. Nigeria, Egypt, South Africa and Kenya remain Africa’s “big four” from a funding perspective, securing a larger share of total funding between them than in 2022. With journalists roaming the continent to find, meet, and interview the most innovative and disruptive tech startups, Disrupt Africa is a true showcase of Africa’s most promising businesses and business ideas. Its research arm releases in-depth reports on various aspects of the African tech startup ecosystem.

Source: The North Africa Journal January 29, 2024 06:03 UTC