The African tech startup landscape witnessed significant consolidation in 2024, with numerous merger and acquisition (M&A) deals. The top 10 African tech startup M&A deals of 2024 demonstrate the continent’s growing importance in the global tech industry.
Egypt’s fintech sector led the way, with Telda’s $50 million acquisition of rival startup, Khazna. This deal strengthened Telda’s position in Egypt’s digital payments market.
South Africa’s Ozow acquired Kenya’s Ilara Health for $40 million, expanding its fintech offerings. Ozow’s strategic move enhanced its presence in East Africa.
Nigerian healthtech startup, Reliance Health, acquired Ghana’s CarePoint for $35 million. This acquisition solidified Reliance Health’s position as a West African healthcare leader.
Kenyan agritech startup, Twiga Foods, acquired Uganda’s FreshBox for $30 million. Twiga Foods expanded its East African footprint.
Egyptian edtech startup, Sprints, acquired Morocco’s Educ8 for $25 million. Sprints strengthened its North African presence.
South African logistics startup, Sendbox, acquired Nigeria’s for $22 million. Sendbox expanded its West African logistics network.
Ghanaian fintech startup, Float, acquired Kenya’s LipaLater for $20 million. Float enhanced its digital lending capabilities.
These top 10 M&A deals demonstrate Africa’s tech startups are maturing, consolidating, and expanding regionally. As the continent’s tech industry continues to evolve, expect more strategic acquisitions in 2025.
