Steep Currency Devaluations and High Inflation have Dissuaded Skittish Investors from Writing Cheques in Africa

Yet there is good news, too. A financial squeeze is forcing startup founders to make tough choices in the name of efficiency: consolidating with rivals and cutting costs to hit profitability targets faster. Agility is the name of the game. Perhaps reflecting this, recent figures for funds raised by startups have improved: July was the best month in over a year. But part of the sense of resilience is optimism over green investments that focus on the energy transition or tackle problems related to climate change. What counts as a green deal is subjective. But a classification by Africa: The Big Deal puts their share of VC activity at 43%. 

THE ECONOMIST