Over the last seven years, 100+ 𝒔𝒕𝒂𝒓𝒕𝒖𝒑𝒔 𝒉𝒂𝒗𝒆 𝒃𝒆𝒆𝒏 𝒂𝒄𝒒𝒖𝒊𝒓𝒆𝒅 𝒊𝒏 𝑨𝒇𝒓𝒊𝒄𝒂'𝒔 𝒔𝒕𝒂𝒓𝒕𝒖𝒑 𝒆𝒄𝒐𝒔𝒚𝒔𝒕𝒆𝒎, with South Africa, Egypt, and Nigeria leading the way.
The acquisition of Paystack by Stripe in 2020 also ignited M&A activities in the fintech space in Nigeria.
Other sectors have also seen smaller yet significant mergers and acquisitions, like the acquisition of Lynk by EdenLife, the acquisition by Autochek of KIFAL Auto, CoinAfrique and most recently a majority stake in AutoTager.
𝑰𝒏 𝑸1 2023 𝒂𝒍𝒐𝒏𝒆, 𝒔𝒆𝒗𝒆𝒏 𝑴&𝑨 𝒅𝒆𝒂𝒍𝒔 𝒘𝒐𝒓𝒕𝒉 𝒐𝒗𝒆𝒓 $710 𝒎𝒊𝒍𝒍𝒊𝒐𝒏 𝒕𝒐𝒐𝒌 𝒑𝒍𝒂𝒄𝒆 𝒊𝒏 𝑨𝒇𝒓𝒊𝒄𝒂.
What are the causes of the M&A activities and is this the new normal in the African startup ecosystem?
I provide my perspective in this op-ed with African Business Magazine.
https://african.business/2023/07/long-reads/ma-set-become-the-norm-in-the-african-startup-ecosystem?utm_term=Autofeed&utm_medium=Social&utm_source=LinkedIn
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