African startups raised almost $5 billion in 2022

African startups raised a record $4.8 billion in 2022, despite a slowdown in the second half of the year.

This marks an increase from the $4.3 billion raised in 2021 and is expected to exceed $5 billion once all deals are accounted for. This prediction is based on the fact that December 31st roundups of funding are often underestimated, and deals are announced later on.