Total investment into the African technology startup ecosystem fell by 27.8%, to $2.4-billion, in 2023, down from a record $3-billion in 2022, as the impacts of the global capital shortage began to make themselves felt on the continent, technology news and research company Disrupt Africa's 'African Tech Startups Funding Report 2023' shows. This is the first time the sector, which has expanded exponentially in the past few years, has declined since 2016, though a fall in funding of less than one-third is an improvement on projections from earlier in 2023, when a decline of 50% was deemed likely, the report notes.
