Venture capital funding has declined significantly across the world in 2023, and though there were initial hopes that the nascency of the African tech ecosystem might mean it avoided too much damage, the growing size of the continent’s “startup graveyard” suggests that is not the case.
South Africa’s Secha Capital has announced a first close of ZAR300 million (US$15.7 million) of its second fund, the target size of which is ZAR650 million (US$34 million).
Amazon is aiming to invest $1.8 billion in South Africa by 2029. The investment will be made towards cloud infrastructure in the region. The company estimates a $2.5 billion investment in the region between 2018–2029.More in #TCDaily.