- Business Insider Africa presents African startups that have shutdown in 2023
- Only 186 startups have secured investment this year, with a total of US$1.4 billion raised, representing a 48 per cent decline from the US$2.7 billion raised in the first nine months of 2022.
- This has triggered a chain reaction of consequences, including workforce layoffs, slashed valuations, startup sales, and, in some unfortunate cases, complete shutdowns.
Africa's tech ecosystem has steadily evolved into a hotspot for investors, driven by the continent's promising potential for remarkable growth. Fueled by a burgeoning population and its status as an emerging tech hub, Africa's market offers an array of opportunities waiting to be explored.
