The article discusses the trend of African scaleups in the tech sector engaging in mergers, acquisitions, and IPOs. Notable deals include the acquisition of the payment platform Adumo by Lesaka Technologies for $85K, which took place in May 2024. WeBuyCars, an online car auction platform in South Africa, made its public debut on the JSE, raising $44M more than its projected $420M. Furthermore, BuuPass, a Kenyan travel booking company, acquired QuickBus, which operates in Nigeria and South Africa and Rivia, a Ghanaian healthcare provider, acquired Waffle, a SaaS software company. These events underscore the vibrancy of Africa’s tech sector and reflect increasing investor confidence as evidenced by secondary listings on the Cape Town Stock Exchange (CTSE) and the rising interest in the Victoria Falls Stock Exchange. Anticipation builds as Flutterwave and Airtel Mobile Money gear up for NASDAQ IPOs next year, highlighting the sector’s prospective international appeal. The article also points out the impact of such activities on early-stage investments and the private equity market in Africa. Furthermore, it identifies other potential fintech scaleups in Africa that could undergo similar strategic developments, such as Onafriq, Cellulant, Hubtel, and Djamo from the KINGS countries.

Financial Technology, Stock Exchanges,Africa, United States