Tech start-ups in Nigeria, Kenya, others suffer 57% decline in fundraising

Tech start-ups in Nigeria, Kenya, and other African countries suffered a massive 57% decline in fundraising in the first half of 2024.

A funding analytics company, Africa The Big Deal, disclosed this in a report released on Thursday.

The report revealed that approximately $780 million flowed into African start-ups in the first half of 2024.

However, the figure was 57% lower than the $1.638 million recorded in the same period in 2023.

The first quarter saw the highest activity with $466 million raised by the start-ups followed by $314 million in the second quarter.

By Ripples Nigeria,

Full story at Ripples Nigeria.