From about $800 million in funding raised in the first half of 2024, startups funding hit the $1 billion mark in July.
The report stated that things happened a little faster than expected through two mega deals announced since the middle of the month. This includes the d.light’s new $$176 million securitisation facility and MNT-Halan’s $157.5 million raised to fuel their expansion.
Earlier in the month, Africa: The Big Deal had reported that funding to Nigeria, South Africa, Egypt, Kenya and other parts of Africa dropped by 31 per cent in H1, 2024. “Geographically, the big four – Nigeria, South Africa, Kenya, and Egypt – continued to dominate the funding landscape, attracting four out of every five investment dollars. Within this group, Kenya emerged as the frontrunner, securing a third of the total funding,” it said.
Over the last five years, from 2019 to 2023, Nigerian startups received the largest portion of funds raised by African startups, accounting for 29 per cent of the $15 billion total investments.Before flagging, please keep in mind that Disqus does not moderate communities. Your username will be shown to the moderator, so you should only flag this comment for one of the reasons listed above.
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