Why Investors Are Piling into African Startups

In the past year, the technology sector saw an unprecedented influx of $5 billion in funding, surpassing the total raised in the preceding three years combined. The rate of expansion over the recent years has been remarkable in terms of the substantial increase in funding flowing into the continent. This surge can be attributed to heightened enthusiasm and interest from US investors, resulting in a significant upscaling of investments in the region. As a result, private companies may now attain valuations exceeding $1 billion.

Source: Bloomberg Originals