In the third quarter of 2024, African startups raised $306 million, according to a report from Disrupt Africa, marking a notable drop of 40% compared to the same period of 2023. This decline is part of a more global economic context. uncertain, particularly impacting the financing of technology companies on the continent. However, despite this fall, some companies like NALA and MNT-Halan have managed to attract significant fundraising, illustrating signs of resilience within the ecosystem.
Over the year, African startups raised a total of $836 million, a figure down compared to the $1.4 billion raised over the first three quarters of 2023. This trend is explained by the increased caution of international investors in the face of to global economic challenges, but also by difficulties specific to emerging markets such as rising costs and political instability in certain regions of the continent.
The technology sector in Africa, although affected by this drop in funding, remains an area of interest for investors, with startups operating in sectors like fintech, health solutions and agricultural technologies continuing to show potential of growth. Investment funds and incubators are trying to adapt their approach to support young African businesses during this difficult period, by focusing on more sustainable and resilient business models.
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