10 African startups that shut down in 2025
- Four startups across Nigeria and East Africa shut down or suspended operations in the first quarter of 2025.
- Fintech sector experienced the highest number of shutdowns, with eight out of ten closures occurring in Nigeria.
- Joovlin, a fintech startup, shut down in January 2025 after struggling to scale its user base despite early traction.
The closures of well-known startups in Africa's tech ecosystem underscore the harsh realities of operating in a volatile market. While the decline in shutdowns and layoffs suggests a potential recovery, it raises questions about the sustainability of early-stage companies and the need for a more robust support system for startups to thrive amidst challenges.
