African Startups Face Slump in Funding, Lowest March Since 2020

African startup funding experienced a significant decline in March, reaching its lowest point since late 2020. According to data from Africa the Big Deal, only $50 million was raised during the entire month, marking one of the slowest months for venture capital investment on the continent since early 2021. The dip is primarily attributed to smaller deals and reflects a less vibrant fundraising landscape than in previous months.