Business and Technology Reporter in Nairobi, Kenya
Nation Media Group
This year is proving to be the worst yet, since 2020, for startups and budding companies in East Africa, as investor funding halved in the first three quartres, signalling constrained financing for scaling and growing.
In the nine months to September 2024, the value of venture capital funding coming to startups in the region more than halved to $196 million from $480 million over the same period last year, the lowest level since 2020, latest data from the African Venture Capital Association (AVCA) shows.
