While global venture funding has been declining, the African startup ecosystem continues to be a story of record growth, with investments up 150% to $1.8 billion in Q1 2022 compared to Q1 2021. Last year, African startups raised nearly $5 billion, with fintech, logistics, and edtech leading the charge.
Part of the reason for this surge lies in the services startups are offering. Many startups in African and Latin American markets are solving fundamental challenges to economies and addressing the primary needs of businesses and consumers–from shortening and strengthening supply chains to enabling consumer credit.
While cutting costs is a natural reaction to news of global recession, companies that have strong sales or customer growth have a great opportunity to stand out as a bright light in a sea of bad news. InsiderPR is proud to be telling the stories of many visionary founders and entrepreneurs that are changing lives and funding success even in these market conditions.
Insiders in The News
News Highlights
- Why Ethiopia’s local fintechs are worried | Quartz
- How Two Africans Overcame Bias To Build A Startup Worth Billions | Forbes
- Why the crypto crash hits different in Latin America | Rest of World
- Investors show Latin American fintech startups the money | TechCrunch
- MFS Africa acquires GTP for $34M as it looks to issue prepaid cards to its clients | TechCrunch
- Why Africa is defying global trends in VC funding | Quartz
- Kenya wants to introduce a 20% tax for digital lenders | TechCabal
Upcoming Events
- Essence Festival: June 30th – July 3rd
- Invest in Africa Summit: July 1st – 2nd
- Solar Energy 20 Future Europe: July 6th – 7th
- Fintech Week London: July 11th – 15th
- Concordia Americas Summit: July 13th – 14th
- Bloomberg Crypto Summit: July 19th
- Bloomberg Sustainable Business Summit: July 27th
- Eurafrican Forum: July 28th – 29th
Resources
- Disrupt Africa’s South African Startup Ecosystem Report 2022 dives into the local ecosystem by analysing active startups, local support networks, and funding and exit activity over the last 7.5 years.
- Endeavor Nigeria’s Report: “The Inflection Point: Africa’s Digital Economy is Poised to Take Off.” reveals Africa’s digital economy and tech ecosystem is set to experience exponential growth periods and highlights important events in the continent’s tech ecosystem until this point, compares its journey with other emerging markets and provides guidance into the opportunities within various sectors.
- Endeavour Mexico’s Ecosystems de Venture Capital y Growth Equity shows how ecosystems in South America and Mexico have evolved from 2011 to 2021; 1728 startups have raised $35 billion.
Twitter Conversations
- Ido Sum, Partner at TLcom Capital outlines his views on how Africa’s startup economy can respond to a global market downturn and capital crunch.
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