Baobab Developments: Product and Market Updates in Southern Africa Q3 2020

Published 30 November 2020
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Entrepreneurs in the Southern Africa region have had a busy quarter. Our deal tracking recorded 43 funding rounds totalling $80.917 million USD. In particular, our analyst’s noted that the FinTech sector saw a lot of activity in the form of deals, acquisitions and company announcements.

The acquisition of cryptocurrency exchange Luno in September by US-based Digital Currency Group brings the number of company acquisitions in Q3 2020 to 4 across the FinTech and E-commerce sectors. Additionally, we also saw a significant number of companies announcing strategic partnerships or regional expansions throughout the quarter.

Perhaps this is an indication of companies beginning to find a new business-as-usual as markets begin their tentative steps towards fully reopening. While 2020 has not been short of surprises, these signs are optimistic news for founders and investors alike.

In this report we bring you Q3 2020 investment trends across Southern Africa region, and highlight some of the key market developments and company announcements made throughout the quarter.

Total funding into Southern African technology companies by sector since 2015

This report was first published in October 2020.