A Record of Africa's Tech Startup Exits for The Past 10 Years

    Digest Africa Research Briefs
    IPO
    Listing
    Mergers & Acquisition

Globally, 2019 has been one of the most successful years when it comes to startup exits. From Uber’s $76 billion IPO to now the WeWork’s highly contested and dismally anticipated likely IPO of under $20 billion, there have been substantial amounts of money raised via IPO listings.

The same year has also seen Jumia Group list on the New York Stock Exchange, a move which made it the first African startup to list on the exchange. Unlike the US and Europe which have witnessed a multitude of wealth created, Africa is yet to witness generational changing exits. Though, that doesn’t mean that none is happening.

For African startups, exits - albeit with scanty transaction details - have been on a smaller scale judging by the players involved in the deals which are mainly and usually acquisitions. When it comes to IPOs, the continent - for now - can only point at Jumia’s as well as Egypt’s Fawry which listed on the Egyptian Stock Exchange raising $22 million in the process at a $330 million valuation.

Per Digest Africa, the number of exits is continuing to grow by looking at the trend and the numbers. In 2016, there were 10 exits recorded via an IPO and an acquisition. However, this number grew to 30 in 2018. So far, in 2019, the number stands at 23 and we are only coming to the end of the third quarter of the year. Who knows? It might exceed the 2018’s figure.

Below is a list of acquisitions recorded over time

FOUNDING YEAR EXIT YEAR TARGET COMPANY ACQUIRER MAIN SECTOR
12/23/1999 Thawte $575,000,000 Acquisition
6/9/2011 Fundamo $110,000,000 Acquisition
10/14/2013 ClaimSync Undisclosed Acquisition
8/20/2014 Saya Undisclosed Acquisition
4/30/2015 Jobberman Undisclosed Acquisition
5/15/2015 Weza Tele $1,700,000 Acquisition
11/11/2015 Fawry $100,000,000 Acquisition
6/20/2016 Buni.Tv Undisclosed Acquisition
11/1/2016 One Africa Media Undisclosed Acquisition
1/19/2018 TRACE Undisclosed Acquisition
2/3/2018 Konga Undisclosed Acquisition
2/8/2018 TransferZero Undisclosed Acquisition
3/5/2018 Popcorn Training Undisclosed Acquisition
3/6/2018 Kngine Undisclosed Acquisition
3/6/2018 Oltio Undisclosed Acquisition
3/15/2018 Gron Digital $1,200,000 Acquisition
3/28/2018 Cape Networks Undisclosed Acquisition
4/6/2018 Simulation Engineering Technologies $3,800,000 Acquisition
4/9/2018 RetailTower Undisclosed Acquisition
4/26/2018 AccTech Systems $8,500,000 Acquisition
4/26/2018 Dynamics Africa Services Undisclosed Acquisition
5/15/2018 Media Works Undisclosed Acquisition
5/21/2018 Teranga Solutions Undisclosed Acquisition
5/22/2018 Mubawab Undisclosed Acquisition
5/23/2018 OrderTalk Undisclosed Acquisition
6/4/2018 VTN Communications Undisclosed Acquisition
6/6/2018 Smart Integration Undisclosed Acquisition
6/11/2018 ISPartners $16,000,000 Acquisition
6/25/2018 Takealot Undisclosed Acquisition
7/4/2018 PropSys Undisclosed Acquisition
7/6/2018 Equinox International Undisclosed Acquisition
7/24/2018 Coders4Africa Undisclosed Acquisition
8/4/2018 MacroLan Undisclosed Acquisition
8/17/2018 Eazi.Com Undisclosed Acquisition
8/30/2018 Bamba Group Undisclosed Acquisition
9/3/2018 Clarotech Undisclosed Acquisition
9/10/2018 Open Connect Ltd Undisclosed Acquisition
9/10/2018 Steeple Undisclosed Acquisition
9/17/2018 Tpay Mobile Undisclosed Acquisition
9/18/2018 WeBuyCars $94,000,000 Acquisition
9/25/2018 SAI Undisclosed Acquisition
10/11/2018 Crossgate Undisclosed Acquisition
10/31/2018 Magnetic Software Undisclosed Acquisition
11/5/2018 Conor Solutions $48,000,000 Acquisition
11/12/2018 Bizense Undisclosed Acquisition
11/14/2018 FibreCo Undisclosed 100% Acquisition
11/14/2018 Medco Plast Undisclosed 74% Acquisition
11/14/2018 Simfy Africa Undisclosed Acquisition
12/7/2018 Badr Undisclosed Acquisition
12/10/2018 Compuscan $263,000,000 Acquisition
12/13/2018 Interpay Africa Undisclosed Acquisition
12/14/2018 Business Today Undisclosed Acquisition
12/18/2018 Artcaffe Undisclosed Acquisition
12/18/2018 Cassava SmarTech Undisclosed IPO
12/19/2018 Founa Undisclosed Acquisition
12/20/2018 Fintec Labs Undisclosed Acquisition
12/21/2018 Accugas Undisclosed Acquisition
12/23/2018 Kwese Iflix Undisclosed Acquisition
1/8/2019 HillCrest International $25,500,000 Acquisition
1/10/2019 C&I Leasing $10,000,000 70% Acquisition
01/15/2019 Touchsides Undisclosed Acquisition
1/25/2019 Teraco Data Environments Undisclosed Majority stake Acquisition
1/29/2019 Sintel Security Print Solutions Undisclosed 73.6 Acquisition
2/6/2019 Expo Centre Undisclosed 60% Acquisition
2/6/2019 Fairy Bottling Zambia Undisclosed Acquisition
2/7/2019 Saab Grintek Technologies Undisclosed Acquisition
2/8/2019 DotModus Undisclosed 51% Acquisition
2/8/2019 Telkom Kenya Undisclosed Acquisition
2/9/2019 M3Round Undisclosed Acquisition
2/10/2019 TravelCar Undisclosed Acquisition
2/12/2019 Jacaranda FM Undisclosed Acquisition
2/12/2019 Mediamark Undisclosed Acquisition
02/15/2019 Surf Undisclosed Acquisition
2/20/2019 Ritual Studio Undisclosed Acquisition
2/27/2019 MultiChoice Group Undisclosed IPO
3/4/2019 NET Newspaper Undisclosed Acquisition
3/14/2019 Otel Undisclosed 50.03% Acquisition
3/21/2019 Amplify Undisclosed Acquisition
03/28/2019 Hiltons Pharmacy Undisclosed Acquisition
3/31/2019 Machine Cutting Services Undisclosed Acquisition
4/2/2019 Knowlegde Factory Undisclosed Acquisition
4/3/2019 OLX South Africa Undisclosed Acquisition
4/5/2019 Axxela Limited Undisclosed 100% Acquisition
4/5/2019 ConnectMed Undisclosed Acquisition
4/12/2019 Jumia Group $196,000,000 IPO
4/18/2019 Meridian Fertilizer Group Undisclosed 85% Acquisition
5/1/2019 XOOM Wireless Undisclosed 91.6% Acquisition
5/2/2019 Ascendis $33,000,000 Acquisition
5/3/2019 Polyclinique Internationale Saint Anne-Marie $5,500,000 Acquisition
5/7/2019 ArqamFC Undisclosed Acquisition
5/7/2019 Ethomed $175,000,000 Acquisition
5/13/2019 IoT.nxt Undisclosed 51% Acquisition
5/13/2019 Pansmart Undisclosed Acquisition
5/13/2019 Safaricom Undisclosed Acquisition
5/13/2019 Tesla Water Undisclosed Acquisition
5/28/2019 Sureswipe Undisclosed Acquisition
6/4/2019 Misr Hytech Undisclosed Acquisition
6/6/2019 Biodelta Nutraceuticals $1,500,000 49% Acquisition
6/11/2019 Club Travel Group Undisclosed Acquisition
6/11/2019 Hearbeat Adventures Undisclosed Acquisition
6/17/2019 Bophelo Bioscience Undisclosed Acquisition
6/17/2019 Jumia House (Maghreb) Undisclosed Acquisition
6/19/2019 CompareGuru Undisclosed Acquisition
6/20/2019 Empty Trips Undisclosed Acquisition
07/15/2019 ROK Film Studios Undisclosed Acquisition
7/24/2019 Insurance For All Undisclosed 51% Acquisition
8/7/2019 College SA Undisclosed Acquisition
8/7/2019 Harmonica Undisclosed Acquisition
10/11/2019 StarterHub Undisclosed Acquisition
8/19/2019 MENAbytes Undisclosed Acquisition
10/23/2019 Conversio Undisclosed Acquisition
9/30/2019 eClat Healthcare Undisclosed 60% Acquisition
12/05/2019 Truckto Technologies Undisclosed Acquisition
11/28/2019 Daily Dish Undisclosed Acquisition
1/22/2020 Apposit Undisclosed Acquisition
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