In the dynamic landscape of Africa’s tech ecosystem this year, venture capital funding has not reached the heights seen in 2021 and 2022. However, the spotlight has shifted to regulatory measures aimed at standardizing the digital economy across the continent. As the physical and virtual realms converge, the impact of technology takes center stage.
This quarter witnessed venture funding falling short of the half-billion dollar mark, marking a decrease from the previous quarter. Conversely, the momentum in acquisitions remains robust, exemplified by Moniepoint, a Nigerian business banking startup, making strategic inroads into the Kenyan market through its first acquisition. Noteworthy regulatory developments in South Africa, Namibia, and Egypt reflect a favorable stance toward cryptocurrency and digital lending.
True to TC insights tradition, this report offers insights into key trends of the quarter, featuring quotes from experts and interviews with key stakeholders. Whether you are a venture capitalist, a startup founder, an executive, an employee, or a tech enthusiast, this summary provides a glimpse into the significant trends of the past quarter. It serves as both a retrospective and a crystal ball, offering foresight into what to anticipate in the upcoming months.
Download the full report using the link belowSOTIA-Q3-2023-deck-3-2.pdf (72 downloads )