How was the Easter holiday?
Last week, we published a Q1 2023 report on the state of VC funding in Africa. Compared to Q1 2022, funding for African tech startups plunged by 36.8%, and the number of deals also dropped to 92 from 130, a 29.2% decrease.
Guess what? Nigeria’s situation is more dire as funding declined by 92.1% last quarter compared to the same period in the previous year. Analysts say that the continued global downturn is a critical factor for this slowdown.
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Last updated: December 20, 2024
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