An optimistic way to think of 2023 is to consider it a seminal year for stakeholders in the African tech ecosystem. On the one hand, the global economic climate made it a challenging year for fundraising, especially among African startups that recorded an unprecedented 36% decline in funding from the previous year for reasons that have been well documented

On the other hand, the challenges have led to deeper thinking among investors, who are now looking at novel ways to adapt and build resilience for 2024. One such way is through the predicted rise of mergers and acquisitions. Another is a renewed focus on secondary markets for liquidity lifelines. These ideas and more have been captured in our newly released 2023 Watershed Report, which provides startups with the unique opportunity to solve huge problems using innovative solutions.

Here are a few highlights from the report:

  • A decade that has seen startups raise close to $20 billion in funding
  • Prospects of an emerging local venture capital market
  • Contending with economic headwinds vis-a-vis evolving regulatory directions
  • New ways to unlock value
  • Leveraging data and an informal approach backed by empirical evidence

To get actionable insights from this report, please visit:

Stephen Agwaibor Content and Project Associate

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