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Africa’s start-up funding giants are losing ground. Is a new investment order emerging?

African start-ups raising cash to scale up. Photo by Mikhail Nilov @Pexels
African start-ups raising cash to scale up. Photo by Mikhail Nilov @Pexels
  • Big Four attract just 46% of October funding.
  • Equity rises as fewer start-ups secure investment.

 

ACCRA, GHANA – Africa’s traditional start-up funding heavyweights lost ground in October as Morocco and Tanzania attracted major deals, exposing a changing but increasingly selective investment market.

Nigeria, Egypt, Kenya and South Africa secured just 46% of the $183 million raised, their lowest monthly share since November 2022.

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