According to figures issued by an industry association on Thursday, venture capital investments in Africa decreased marginally to $6.5 billion last year but avoided the severe decline witnessed in the majority of other worldwide areas.
The African Private Equity and Venture Capital Association (AVCA), which encourages private investment on the continent, disclosed that the investments, distributed over 853 projects, reflect a 1% decrease from 2021, a record year in Africa. This figure is in stark contrast to a 32% contraction in global venture capital, as seen in the American news publication, Reuters.
