M&A set to become the norm in the African startup ecosystem

Over the past seven years, Africa’s startup landscape has witnessed the acquisition of more than 100 startups, with South Africa, Egypt, and Nigeria at the forefront of this activity.

The fintech industry, in particular, has been buzzing, ignited by the 2020 acquisition of Paystack by Stripe.

Further, multiple other sectors have experienced a flurry of significant, albeit smaller, mergers and acquisitions. Examples include EdenLife’s acquisition of Lynk, Autochek’s purchase of KIFAL Auto, CoinAfrique, and most recently, the acquisition of a majority stake in AutoTager.

In just the first quarter of 2023, the African startup scene saw seven M&A deals valued at over $710 million.

What could be driving this surge in M&A activities, and could this be establishing a new norm in Africa’s startup ecosystem?

Our Davidson Oturu lends his insights on these intriguing developments in this opinion piece for African Business Magazine.



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