UN

as startups were getting over the effect of the COVID-19 pandemic and resulting lockdown
measures enforced not just in Africa, but worldwide. The pandemic changed the way we do
business and live. In Africa’s tech industry and across the world, many entrepreneurs had to
struggle to ensure that their businesses survive.
However, the pandemic hasn’t been bad news for all businesses as it provided opportunities
globally for certain sectors like financial services and healthcare to thrive. On the other hand,
sectors such as ride-hailing saw declines in passenger trips`of up to 70% in 2020.1 This decline was
observed in, among other things, the amount of funding received by ride-hailing startups.

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