African startups are rewriting their funding playbook as the global artificial intelligence boom pulls venture capital toward the US, forcing emerging markets to compete for cash.
AI-related VC investment doubled to $259 billion last year from 2023, with three-quarters of it flowing to US companies. That’s prompting founders from across Africa to turn to domestic sources such as development-finance institutions, pension funds, debt providers and local VCs.
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The shift accelerates a reset for a startup ecosystem long dependent on overseas growth capital. Investors are now demanding clearer paths to profitability and ...