Francophone Countries News Today : Breaking News, Live Updates & Top Stories | Vimarsana

1

(Bloomberg) -- Investors in West African countries are enjoying the best returns on the continent, and are shifting money flows to a region that’s performed well despite coups, radical economic overhauls and debt restructurings.Most Read from BloombergNvidia Surges After Company Proclaims AI Has Hit 'Tipping Point'Biden Touts $1.2 Billion in Student Loan Relief With Eye to 2024Tech Up in Late Hours on Nvidia’s Bullish Outlook: Markets WrapChina Tightens Grip on Stocks With Net Sale Ban at Open,

After defying the global funding slowdown of 2022, VC investments in African startups dropped considerably last year, mirroring the situation in other regions where capital taps were significantly turned off. Data trackers set the amount raised by African startups in 2023 at between $2.9 billion and $4.1 billion, from $4.6 billion to $6.5 billion in total funding the previous year. With equity funding becoming rare, several startups found it hard to survive, leading them to either cut down their teams or scale down operations and, in some cases, close shop.

The two West African countries are run by military juntas that seized power in coups.

The brick-and-mortar world is losing its power to those able to create and exploit the modern information architecture.