While counties like the U.S. have seen a “significant drop in deal activity,” Africa saw $1.3 billion invested through 151 deals this year. That figure is approaching the $1.6 billion invested last year in the sector. Increased access to cheaper internet services and smartphone ownership have contributed to the growing space.
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VC Funding in African Fintech Continues to Thrive Despite Global Slowdown
African fintech startups continue to buck broader downtrends as venture investment capital continues to flow freely. So reports Pitchbook.
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