Why investment in African healthtech is set for a major decline in 2024
Yomi Kazeem, Engagement Manager at Salient Advisory, and his colleagues explore the alarming trend of declining investments in African healthtech.
In 2023, amid a nearly 40% slump in investment across African technology ecosystems, funding for healthtech startups across the continent proved resilient, dropping by only 2% – but that is set to change.
Analysis of funding trends in the first of half of 2024 suggests that a major decline in healthtech investment is on the cards, with African healthtech innovations raising only $24 million – a 69% drop compared to the same period in 2023, according to data from Salient Advisory.
The drop in funding is driven by a decline in both deal count and value: the number of deals is down by 47% in the first half of 2024, and the average ticket size...