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