Next Wave: What African startups need to win in the future
- Venture funding in Africa dropped to $2.2 billion in 2024, a 25% decrease from the previous year.
- Only 385 startup ideas received VC backing in 2024, down from 600 in 2022.
- The naira lost over half its value in 24 months, affecting startup operational costs.
The current landscape for African startups presents both significant challenges and opportunities. While the decline in venture funding and currency instability pose risks, the shift towards building resilient and sustainable business models could lead to a stronger ecosystem in the long run. Founders must embrace regulatory changes and community engagement as integral parts of their strategy to thrive in this evolving environment.
