In 2023, with $3.5 billion raised from 547 deals, African venture capital (VC) experienced a significant downturn. Year-on-year, total funding and deal count declined by 46 percent and 28 percent respectively. This downturn marks a significant phase in the nascent and turbulent African VC journey. From challenges such as the Covid-19 pandemic and the collapse of Silicon Valley Bank to opportunities like the 2021 VC bull run, these events have collectively influenced African VCs to adopt a more cautious investment approach, resulting in more detailed due diligence.
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Thursday, April 25, 2024
Can real estate investment trusts lead to affordable home ownership?
By Lydia Owuor Partner
Cliffe Dekker Hofmeyr (CDH) Kenya
Kenya's affordable housing agenda is a government initiative aimed at addressing the housing deficit. This initiative aligns with the government's broader development goals outlined in its Vision 2030 blueprint.
Absa feels pinch as weak shilling inflates debt load by Sh4 billion
Business Reporter Nation Media Group
The weakening of the shilling lifted Absa Bank Kenya’s debt load by Sh4.2 billion to Sh24.02 billion in the 12 months to December 2023, despite the lender not making new foreign currency borrowings in the period.
How Somalia is removing barriers to foreign capital
Somalia has removed several investment screening regimes that barred the deployment of capital, giving foreigners the green light to wholly own their investments, repatriate capital and enjoy full protection in the country.
Fuel tax blocks aid to hunger-ravaged South Sudan, UN says
South Sudanese authorities are holding up United Nations fuel tankers over a tax dispute, jeopardising the delivery of millions of dollars of aid during a humanitarian crisis, the UN mission there said.
Kenya third best in Africa for immigrants targeting top pay
Kenya is the third most preferred African country by immigrants seeking high income, according to a new report that showcases what draws foreign investors.
Nigeria revokes 924 dormant mining titles, seeks new investors
Nigeria has revoked 924 dormant mining titles immediately and invites investors to freely apply for the affected licences which will be offered on a "first come, first served" basis, its minister of mines said on Wednesday.