Crucial African agriculture, health startups lag behind in attracting seed capital
A youth examines vegetables at the hydroponic farm in Tana River County, Kenya. According to the African Private Equity and Venture Capital Association, the continent’s start-ups raised a total of $3.5 billion in the first half of 2022, a 133 percent growth compared with the same period in 2021. PHOTO | STEPHEN ODUOR | NMG
Business and Technology Reporter in Nairobi, Kenya
Nation Media Group
Start-ups in Africa have increasingly been accessing more financing in seed, early-stage and late-stage capital, signalling an improving investment landscape on the continent’s budding companies. However, start-ups in the most crucial sectors are still lagging behind.
Latest reports indicate that last year, African start-ups attracted unprecedented amounts of funding from venture capitals, hubs and accelerators among other investors, defying the difficult economic times that saw investors retreat from African financial markets.
