2022 was an eventful year from all indications. Last year we witnessed several events that had wide ripple effects and put the global economy under strain, from Russia’s invasion of Ukraine to the US Federal Reserve hiking rates to reign in inflation. The spillover effects of these reinforced the lessons we took away from the year of COVID-19, 2020—that the world is more interconnected than we realise and that events happening in one geography have an effect in another geography even though separated by thousands of kilometres.
We can even see the effects of at least the Fed’s interest rate hikes on the funding flowing to Africa’s startup ecosystem. At the same time, the ecosystem had its own share of occurrences worth discussing. This article looks at four notable statistics about Africa’s ecosystem. So if you’re interested in getting a snapshot of what went down, keep reading.
$4.85 billion raised