African Technology Companies Secured 454 Deals In 2018

Written by Staff

Technology Firms in Sub-saharan Africa recorded over $1.19 billion from a total of 454 deals last year, 2018. In a new report released by Digest Africa INDEX, the estimated figure could have been higher if details of all deals were made public.

According to the 2019 report, the financial details of 103 deals, which makes up 22.7 per cent of the total deals in 2018, were not disclosed by companies involved – listed among such companies are Jumia and M-Kopa.

From Nairametrics. By Fakoyejo Olalekan

Technology
Photo by rawpixel on Unsplash

The most active investor in funding in Sub-saharan Africa last year was the European Investment Bank (EIB). The company participated in five investments which involve Partech Africa Fund managed by Partech Ventures ($70M), Novastar II managed by Novastar Ventures ($72.5M), Tide Africa Fund managed by TLcom Capital ($40M), Sawari Ventures North Africa Fund I managed by Sawari Ventures ($35M) and Africa Tech Ventures ($10M).

While the largest fundraising and commitment recorded in the year under review involved Naspers’ $314 million South Africa-focused fund. Meanwhile, 69.8 per cent of the funds raised were early stage focused and 47.7 per cent of them were sector agnostic.

Read more at Nairametrics.