In November 2024, 32 African startups raised $180 million in funding, pushing the total for the year to nearly $2 billion. The funding comprised 68% debt, 31% equity, and 1% grants. Notable deals included the International Finance Corporation’s $80 million backing of Sun King in Nigeria, accounting for 44% of November’s total. Kenyan and Nigerian startups attracted 76% of the funds, while significant exits included the acquisition of Elmawkaa by Saudi firm Ayen. Despite a positive outlook, the reliance on debt financing and funding disparities across regions highlight challenges within the African startup ecosystem.