The African tech ecosystem is causing a positive paradigm shift on the continent’s development models. African start-ups have become essential and indispensable, actively participating in the continent’s economic transformation. According to Partech Africa, 234 start-ups who are representing a 74% year-on-year increase made a groundbreaking record of $2.02bn in capital through 250 funding rounds in 2019. Giving this outstanding breakthrough the continent’s unicorns continue to find favour with investors. From all four corners of Africa, these unicorns representing sectors key to the continent’s development, i.e. health, solar energy, e-commerce, fintech, logistics, digital, food and telecoms have collectively raised a total of about $600m over the past two years. Amongst these businesses, here are the top 6 African start-ups that are leading disruptive growth:
Category: Financial Technology (FinTech)
Flutterwave was founded in 2016 by a team of ex-bankers, entrepreneurs and engineers. Its mission is to simplify payments for endless possibilities. This makes it easier for Africans to build global businesses that can make and accept any payment across borders. With just one platform, payments can be done through Debit and Credit Cards, Bank Account, Mobile Money, POS, M-Pesa, Visa QR, Bank Transfer USSD. Furthermore, businesses can create and manage cards for their teams for instant use through mobile wallets and global websites.
Founded in September last year and headquartered in Delaware, in the US. 54gene was part of Google Launchpad Africa’s third cohort which recently graduated. Currently, the startup is busy collecting data from 10 of Nigeria’s largest research and public hospitals and aims to bring in 40, 000 samples of participants for its biobank. The startup stressed that all participants in its biobank will be asked to contribute their genetic material voluntarily and that the company will follow all internationally recognised standards to ensure data privacy and security. Also, it will enable it to continue building its pan-African biobank as it expands across the continent and to partner with research and development organisations around the world.
Daystar Power Group
This start-up provides businesses in West Africa with clean, continuous and affordable power. This is achieved provide our customers with continuous power, covering all consumers at a monthly fee and zero capital expenditure, by employing a combination of technologies, including solar power and battery back-up. The services are primarily provided to the banking, retail, agricultural and logistics industries.
Category: Financial Inclusion
Baobab+ was launched in late 2015 by Microcred Group, a digital finance company focusing on financial inclusion in Africa and China. Created to distribute innovative non-financial products to improve the daily lives of African people and create sustainable economic development. It is developing access to energy in West Africa (Senegal, Ivory Coast, Mali) and Madagascar. This is done through classical loans for Microcred clients or through Pay-As-You-Go models to make the solar products accessible to all. They aspire to provide clean, affordable and reliable energy to people living off-grid through quality products with adapted financial solutions. It is also working on access to pure water and providing to its clients, innovative water filters and digital educative tablets.
Ringier One Africa Media
ROAM (Ringier One Africa Media) operates and grows leading marketplaces in Sub-Saharan Africa. Across the continent, we are unified by our purpose: to connect Africans to Opportunities. They bring together people on our platforms who are at crucial decision points in three of the most important events of their life. Whether it is buying a car, buying a house, or finding your next job – the platform empowers each individual to find the best possible.