African Tech Startups Reach New Record in Funding: Africa Weekly
Staff Editor The African tech industry has seen a remarkable surge in funding this year, reaching record highs despite the global downturn. This is largely due to increased interest from international investors and venture capitalists who are looking for new opportunities on the continent.
In 2020 alone, African startups have raised more than $1 billion in venture capital investments from both local and international sources. This is an impressive feat given that overall global investment levels have decreased significantly since last year due to the pandemic-induced economic crisis.
This influx of money has allowed many innovative entrepreneurs across Africa to pursue their dreams of starting successful businesses without having to worry about access to capital or resources. It also demonstrates how resilient and attractive Africa’s technology sector can be even during times of economic uncertainty when other markets may be struggling or underperforming.
The success story doesn’t end here though; it’s just beginning! With continued support from investors, we can expect African tech startups will continue breaking records as they create solutions that benefit not only Africans but people all over the world too!
Read more at Quartz
