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
2000 2011 Fundamo Visa Financial Services
2011 2013 ClaimSync GenKey Solutions Healthcare & Pharma
2011 2014 Saya Kirusa Healthcare & Pharma
2009 2015 Jobberman One Africa Media Commercial & Professional Services
2011 2015 Weza Tele AFB Financial Services
2012 2016 Buni.Tv TRACE TV Media & Entertainment
2012 2016 One Africa Media Ringier E-commerce & Retail
2012 2018 Konga Zinox Technologies E-commerce & Retail
2011 2018 Popcorn Training KnowBe4 Information Technology
2009 2018 Kngine Samsung Next Research
2004 2018 Oltio MasterCard Financial Services
2010 2018 RetailTower Kudobuzz Information Technology
1996 2018 Media Works FutureLearn Information Technology
2013 2018 Teranga Solutions HotelOnline Travel & Leisure
2010 2018 Mubawab Emerging Markets Property Group (EMPG) Real Estate
2011 2018 OrderTalk Uber Information Technology
2011 2018 Takealot Naspers E-commerce & Retail
2005 2018 Coders4Africa Gebeya Information Technology
1997 2018 Eazi.Com Pam Golding Commercial & Professional Services
2012 2018 Bamba Group MAXIMeyes (UK) Ltd Financial Services
1994 2018 AccTech Systems 4Sight Holdings Information Technology
2001 2018 Steeple PropertyFox Information Technology
2014 2018 Tpay Mobile Helios Investment Partners Financial Services
2001 2018 WeBuyCars Naspers E-commerce & Retail
2012 2018 Magnetic Software Silversoft Information Technology
2012 2018 Simfy Africa MTN Group Media & Entertainment
2011 2018 Medco Plast Indorama Ventures Retail
2006 2018 Badr Incorta Inc. Commercial & Professional Services
2014 2018 Interpay Africa Emergent Technology Holdings Financial Services
2013 2018 Founa Magasin Général E-commerce & Retail
2015 2018 Kwese Iflix Econet Global Limited Media & Entertainment
1965 2019 HillCrest International GEMS Education Education
2010 2019 DotModus Dynamic Technologies Information Technology
2016 2019 M3roud AMC Group E-commerce & Retail
2012 2019 TravelCar Groupe PSA Travel & Leisure
2017 2019 Ritual Studio Hoorah Digital Media & Entertainment
2015 2019 Amplify OneFi Financial Services
2013 2019 Haltons Pharmacy MPharma Healthcare & Pharma
2006 2019 OLX Nigeria, Kenya, Uganda, Tanzania and Ghana Jiji E-commerce & Retail
2017 2019 ConnectMed Merck & Co Healthcare & Pharma
2017 2019 ArqamFC StatsBomb Media & Entertainment
2015 2019 Pansmart Huge Group Telecommunications
2008 2019 Sureswipe Crossfin Technology, Apis Partners Financial Services
2017 2019 Heartbeat Adventures Cloud9XP Tours & Travel
2013 2019 CompareGuru SureStart Financial Services
2013 2019 Jumia House Mubawab E-commerce & Retail
2018 2019 Bophelo Bioscience & Wellness Halo Labs Agriculture
2002 2019 Biodelta Nutraceuticals Wuhan General Group Healthcare & Pharma
2013 2019 ROK Film Studios Canal+ Media & Entertainment
2014 2019 Insurance For All (IFA) AJ Capital & Investments Financial Services
2007 2019 College SA Future Learn Education
2017 2019 Harmonica Match Group Social Network
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