The Economist: African startups are raising unprecedented amounts
Sango Capital’s Richard Okello spoke to The Economist about the thriving venture capital (VC) landscape in Africa, the only region in the world currently experiencing growth in VC investment. In fact, African startups raised $5.2bn in the last year, well over the combined total investments over the past seven years. Okello explained this explosive growth is occurring partly because rich Africans are investing their wealth into new firms which are solving Africa’s marketplace inefficiencies. Past market failures have created supply-demand gaps that left the door wide open for a growing number of African startups.
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