More Kenyan startups falter as funding bonanza ends

A majority of local startups are either shutting down for good or scaling down amid a tough business environment in their respective sectors. [iStockphoto]

Kenyan-based startups are facing their biggest test in years amid an increasingly difficult business environment.

Kenya's fast-growing technology sector, nicknamed "Silicon Savannah" has in the last two decades drawn huge foreign investor interest, supported by an improved business environment.