Africa’s venture capital market is undergoing a structural transition, as fresh data for the first nine months of 2025 points to a landscape where early-stage dealmaking is rebounding strongly while large, late-stage funding rounds continue to dry up.
The latest quarterly update from the Africa
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Royal Ibeh
Royal Ibeh is a senior journalist with years of experience reporting on Nigeria’s technology and health sectors. She currently covers the Technology and Health beats for BusinessDay newspaper, where she writes in-depth stories on digital innovation, telecom infrastructure, healthcare systems, and public health policies.
