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. (more…)
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