In a captivating review of predictions made by African investors for 2023, the tech landscape witnessed a mix of hits and misses.
🚀 More Series A Startups?
Caleb Maru foresaw a surge in Series A startups, but the gap between seed and Series A closed less than expected. However, the reduction in the gap hints at promising growth in this realm.
💸 Increase in Africa-Focused VC Funds?
Lesego Tladinyane's prediction of a rise in global VC funds targeting Africa proved true, with a slew of funds launched in 2023, totaling a staggering $383.5 million.
🔄 Rise in Consolidation Amongst Fintechs?
Lexi Novitske accurately predicted a wave of consolidation in fintech, supported by 26 announced African tech M&A deals. Fintechs took the lead, comprising over a third of total M&A activity.
💰 Drop in Startup Valuations?
Maya Horgan Famodu's foresight on valuations aligning with realistic figures manifested, emphasizing the importance of revenue over inflated valuations.
🔍 Scale for Identity Startups?
Lexi's confidence in the growth of identity startups materialized as Smile ID secured $20 million in Series B funding, leading the pack in this transformative sector.
🌍 Talent Relocation to Africa?
Jake Kendall's prediction on top global talent flocking to work in Africa found merit, with both push and pull factors influencing talent migration.
🔗 Mix of Blockchain and Fintech?
Luke Mostert's vision of fintech gravitating towards crypto, DeFi, and blockchain-based systems gained traction, showcasing a future where traditional finance meets crypto innovation.
As the crystal ball unravels, 2023 proved to be a year of dynamic shifts and significant strides for Africa's tech ecosystem.
Stay tuned for more insights as we navigate the tech future together! 🚀🌐
#TechPredictions #AfricanInvestors #2023TechReview
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