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Africa Defies Global Trend With Funding for Startups Surging

  • Companies more than doubled funding in the first-half
  • All other regions have shown declines; Latin America fell 43%

As funding for startups falls across the globe, Africa is standing out as a notable exception, with its under-served population outweighing the impact of inflation and slowing economies. 

Funding for startups in the world’s second-largest continent more than doubled to $3.14 billion in the first six months of the year, according to research firm Africa: The Big Deal. That compares with a decline ranging from 3.7% in Europe to 43% in Latin American and the Caribbean.