The weather is harsher in Nigeria as startup funding into the country’s startups has declined by 77 per cent. While the rest of the world was in a funding rut, African startups ate well for the first two quarters of the year. Paratech noted, “Despite this, African start-ups still closed record funding in the first half of the year. Over the last couple of years, the Middle East has curated events aimed at deepening relationships between both regions. She said looking beyond the traditional funding sources in the US and Europe could significantly increase the chances for more African startups to secure funding.

Source: The North Africa Journal August 21, 2023 10:19 UTC