According to Odaily, Swiss blockchain venture capital firm CV VC has released its latest report on venture capital in Africa. The report reveals that Africa secured $34.7 million in investments in the first half of 2024, marking a 74% decrease compared to $135.4 million in 2023. Despite the drop in funding, the number of transactions in the region increased by 9%.

Globally, blockchain financing has also seen a significant decline. The report states that the sector received $10.66 billion in funding in the first half of 2023, but only $5.74 billion during the same period in 2024, representing a 64% decrease. Additionally, there were only 678 transactions in 2024, a 49% reduction from the 1,306 transactions recorded in the first half of 2023.