African Tech Startups in 2024: Mergers, Expansions, and Funding Challenges
39 mergers and acquisitions (M&A) deals occurred in Africa's tech industry in 2024, a 34% increase from 2023. Southern Africa led with 16 startups being acquired, followed by West Africa with 10, East Africa with 7, and North Africa with 4.
Egypt's MaxAB co-founder exits company 2 months after merger with Kenya's Wasoko
Mohamed Ben Halim exits MaxAB two months after merger with Wasoko. MaxAB completed its merger with Wasoko in August 2024.
Is Safaricom threatened by Starlink
The merger between Wasoko and MaxAB, hailed as Africa's largest startup merger, was announced in Q4 2023. The new combined entity will be led by Daniel Yu, CEO of Wasoko, and Belal El-Megharbel, CEO of MaxAB.
Africa B2B Startups Wasoko and MaxAB Officially Complete Merger
African B2B e-commerce startups Wasoko and MaxAB have completed the continent’s largest-ever tech merger. The merged entity becomes a multi-vertical ecosystem for Africa’s informal retail sector.
African B2B e-commerce startups Wasoko and MaxAB complete merger: Interview with co-CEO Daniel Yu
Wasoko and MaxAB have completed a merger, creating a multi-vertical ecosystem for Africa’s informal retail sector. The merger involved integrating 16 subsidiaries across multiple countries.
