It has been another difficult period for start-up investments in Africa. They raised just over US$300 million in Q2 2024 in equity, debt, and grants – the lowest quarterly performance since late 2020. Combined, start-up investments on the continent have reached $780 million in H1 2024, much lower than in previous periods. More encouragingly, there have been 101 ventures who raised at least US1 million in the first half of the year on the continent, a number pretty much comparable to H1 2023, though considerably lower than at the height of the heatwave in H1 2022.

Source : NTU-SBF Centre for African Studies