Africa Defies Global Trend With Funding for Startups Surging

Africa Defies Global Trend With Funding for Startups Surging

As funding for startups falls across the globe, Africa is standing out as a notable exception, with its under-served population outweighing the impact of inflation and slowing economies.

Funding for startups in the world’s second-largest continent more than doubled to $3.14 billion in the first six months of the year, according to research firm Africa: The Big Deal. That compares with a decline ranging from 3.7% in Europe to 43% in Latin American and the Caribbean.

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