“Despite the growth, VCs and other investors aren’t keen on investing in the business.”Hmid said most VCs don’t reply his emails. Egypt led the pack with $823 million; Algerian followed with $152 million; Tunisia raised $119 million; and Morocco got $18 million. Libyan startups didn’t record any venture funding. Hmid believes they are building a business that can liberate Libya and inject fresh positive energy into the country. *Presto Eat’s financials have been updated to Libyan Dinar (LYD) from USD that was previously used in the article.

Source: Libya Today February 22, 2023 16:28 UTC