Q3 2023 Venture Capital Activity in Africa

🌍 Africa in the Global Context

Despite a global funding winter and being the lowest contributor to global venture capital, Africa's venture ecosystem has shown resilience with a 28% increase in capital raised by African entrepreneurs during Q3 2023 compared to the same period the previous year.

Super-sized deals (US$100mn+) are propping up the continent’s venture ecosystem, but it remains to be seen how far the industry can push the funding needle in Q4 2023 to close the gap to the levels maintained in 2022. 

Read the full Q3  #VentureCapital Activity in Africa report report: 
https://bit.ly/3u8nQ4v

#AfricanVC #Entrepreneurship #GlobalInvestments #AfricaRising #InnovationInAfrica #AVCAResearch

📱 The Backbone of African Consumerism – Payments, Technology and E-Commerce - Claim Bulk of Volume and Value

#Financials, #InformationTechnology, and #ConsumerDiscretionary were the three most active sectors by volume in Africa in the first nine months of 2023, accounting for just under two thirds of all #venturecapital deals. #Startups providing Financial Services, Software & Services, and E-commerce were the driving forces behind the success of these three sectors.

This reflects Africa's evolving demography and the changing nature of African consumerism. #Africanentrepreneurs are bringing new products and services to market, and the innovative use of technology is modernising their distribution and accessibility to the mass market. As Africa's population grows and becomes more affluent, the demand for these services will only increase.

Read the full Q3  #VentureCapital Activity in Africa report report: 
https://bit.ly/3u8nQ4v

#AfricanVC #Entrepreneurship #InnovationInAfrica #AVCAResearch #FinTech #ECommerce