Tech markets across the world are held partially captive by the unanticipated and hurried deceleration of venture capital investments. But, exceedingly unlike the concerning state of funding affairs in Europe, the United States, and Asia, Africa’s performance so far strongly suggests a steady course to yet another record-breaking year.
Per WeeTracker’s Deal Street, African tech ventures absorbed USD 2.54 B+ in H1 2022, roughly half of last year’s USD 4.08 B all-time chartbuster. Comparatively, figures from Africa: The Big Deal show that the region topped USD 3 B over the same period, quite close to the 4.4 B the publishers recorded in 2021.
In the wild wake of a worldwide economic dip, the continent’s emerging markets stand out only in terms of venture funding, flexing an immunity many have speculated as fleeting. It is feared that western investors would retreat, no thanks to gloom-ridden developments like inflation, war, high-interest rates, pandemic-regulated disruption, and the crypto crash quandary.