Startup funding in Africa’s major tech hubs decline

Funding for Kenyan startups dropped from $47.3 million in 2015 to $10.5 million in 2016.

After a decade of optimism, buzz around Kenya’s tech potential has waned, as many startups failed to become profitable or went bankrupt.

Optimism was fueled by successes like mobile-money service M-Pesa and crowdsourced reporting and mapping platform Ushahidi, both created in Kenya a decade ago. Continue reading