The Next African Tech Start-Ups That Might Turn Into a Unicorn

The Next African Tech Start-Ups That Might Turn Into a Unicorn

Investors and entrepreneurs should keep an eye on these flourishing African startups. 

Africa has started to emerge as the fastest-growing economy in the world. The largest continent offers the ideal environment for both investors and businesspeople.

The number of multi-million dollar companies on the continent is growing. African startups raised over $1 billion in the first half of 2021 alone. 

Why the Explosive Growth? 

The vast unbanked population of the continent is becoming more mobile and tech-savvy. It offers enormous potential for tech startups to enter the payments and e-commerce sectors. 

These businesses and upcoming ones will be able to enjoy Africa’s expanding economy. In comparison to Egypt, and Ethiopia, Nigeria will have a population of more than 800 million by the year 2100. 

A sizable part of the population has also been driven to digital payment and purchasing platforms. Moreover, the continent is much more connected than before. In terms of internet connections, Africa had the lowest statistics. This situation is, however, changing. 

Telecom companies and internet providers are reaching out to the untapped continent to expand their market. High-speed internet has become a normal utility. It is a great factor in increasing tech innovations in the area. 

World Bank Group is backing the African Union to connect every individual and business by 2030.

These ten startups from Africa listed below are worth keeping an eye on: 

  1. Immobazyme — South Africa

Ethan Hunter founded Immobazyme in December 2019. 

It was founded to design and create analytical platforms and immobilize enzymes. These ease the production of high-value goods. 

Immobazyme hopes to spur the growth of the African biotechnology sector. 

It works by fostering creative thinking and utilizing regional biological resources. 

Immobazyme, a spin-off business of the University of Stellenbosch. It is also a member of the University of Stellenbosch Enterprises Group. It is based in Stellenbosch, South Africa (Innovus). 

Immobazyme is creating systems and products that can be used to address common problems in various industries. It works by utilizing PepTrapTM. The company’s founders invented a proprietary novel enzyme immobilization platform.

  1. AURA — South Africa

AURA is the Uber of the emergency services industry. 

Open the app and request emergency help. A vehicle will be sent to your location depending on whether you need an ambulance or an armed response. 

This clever and straightforward tool could completely change the emergency response game!

  1. WootLab — Nigeria

Wootlab provides a service that benefits both businesses and jobless people. 

Wootlab connects companies with a pool of independent contractors and unemployed workers. These resources are primarily in Africa. It enables them to outsource their engineering and development teams. 

WootLab is the ideal solution for the growth of tech companies in developing nations. The platform also provides skills development services and bundle packages to aid SMEs.

  1. Strove — South Africa

Strove is a Cape Town-based startup. It provides a way to enhance employee well-being by providing incentives for physical activity. 

Employees can sync their Strava, Apple Health, and Google Health accounts with the Strove app. After they sign up, employees can receive rewards for achieving their exercise goals. 

The main goal of Strove is to support employees’ mental and physical health. It provides a way to reduce stress and burnout. The upcoming integrations with Fitbit and Garmin will aid in expanding their clientele. 

Strove also provides a white-labeled version for large corporations. Strove will now enter the UK market as its next step.

  1. ‍Piggyvest — Nigeria

This Nigerian start-up provides a platform that makes it easier for users to manage their money. 

It uses an automated system that saves small sums of money regularly. Further, it only permits users to access their savings on predetermined dates. The app effectively forces them to save money and enables users to save money over time. 

  1. Little — Kenya

Little is a leading super app company in 4 countries — Kenya, Uganda, Tanzania, and Ethiopia. They take pride in being reasonable and dependable, even providing free WiFi on all rides! Little started as a ride-hailing business in 2016. It began as a partnership with Safaricom, an African fintech powerhouse. 

Since then, Little has expanded to provide a wide range of services, including ride-hailing, delivery services, utility bill payments, the ability to buy airtime, and merchant payment options. 

It transports more than 20,000 corporate customers every day. Plans are already in motion to expand operations to Ethiopia.

  1. Thndr — Egypt

This fintech startup in Egypt wants to make investing simple and available to everyone. 

Like many other investment platforms, this one has no minimum investment requirement. The app does not charge a commission on the earnings of its users. 

Users of Thndr can invest in both public companies and different mutual funds. It also provides users access to various market data and educational resources. These resources do a fantastic job of demystifying a procedure many people find very unfamiliar.

  1. Eden Life — Nigeria

Let’s face it, doing chores around the house can be annoying. 

If you’re putting in extra hours to meet the deadline, Eden Life can help. This startup uses an app-based solution to automate your household chores. 

With top quality as one of its main values, the Eden Life platform makes it simple to find someone to handle your cooking, cleaning, laundry, grocery shopping, and gardening.

Related Post: 6 Reasons why LLC is the right choice for your Startup

Bottom Line 

To sum up, the startup scene in Africa is still in its infancy, but it is expanding and changing quickly. Furthermore, we expect that more startups will soon reach that status. The current trend will grow if venture capitalists remain as optimistic as they have been lately.

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