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Punch Newspapers punchng.com 01 Aug, 2022 04:15 am

Nigerian startups, others may record negative growth – Report

Nigerian startups, others may record negative growth – Report
Startups in Nigeria and other African countries must raise at least $1.8bn in the third quarter of 2022 if they do not want to have a negative quarter-on-quarter growth.

, +125 per cent YoY) the amount that they had raised a year before ($1.Related News Nigerian startup launches platform Startup launches insurance product Nigerian startups raised 60% of African tech funding in 2021 – US “In the meanwhile, funding declined by -29 per cent YoY globally, with the US, Asia and Europe all recording a decline in the high twenties, and Latin America registering a -69 per cent YoY freefall.And we’re talking significant growth here: in Q2 ‘22, start-ups in Africa have raised 2.Back in Q2 ‘21, start-ups in Latin America had raised nearly 13x times more than start-ups in Africa ($7.

com 1st August 2022 Startups in Nigeria and other African countries must raise at least $1.This is expected to continue not only in Nigeria, but in other African countries, as inflation, food insecurity, bear markets, supply chain issues, and more, affect start-ups ability to grow and raise.

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