African Startups Double Debt Funding as Equity Investment Drops

African startups almost doubled their debt fundraising in 2025, even as equity financing from venture capital firms declined.

Startups raised $1.8 billion in debt — a 91% increase from 2024 — accounting for 46% of the $3.9 billion secured by firms last year, according to a report released Thursday by the London-based African Private Capital Association.