Africa Behind in VC Investment
Global VC (venture capital) data values highlight that Africa significantly underperformed other regions when it comes to receiving VC investment in 2020. Last year, a total of $259.4bn was invested globally. Of this amount, $132.9bn went to North America, $33.4bn went to Europe and $87.1bn went to Asia. Only $1.4bn was invested in African companies.
Despite the downturn in the global economy during the pandemic, the value of global VC and tech investment increased. However, according to Partech, African VC investment dropped by 29% in 2020to $1.43bn. This can be explained in part by the fact that a large proportion of Africa's population lives in frontier economies.
Frontier economies are generally considered to have politically manipulated mark...