Why more exits don’t mean more liquidity for Africa’s tech ecosystem
- Africa's tech ecosystem produced 181 verified VC-backed exits from 2011 to 2026.
- Exits increased by 36% while funding declined by 33%, indicating a backlog of companies needing liquidity.
- Acquisitions account for 73% of all exits, with Nigeria, South Africa, Egypt, and Kenya making up 81% of these exits.
While the increase in exits is a positive sign for Africa's venture capital landscape, the underlying issues of funding decline and limited buyer pools suggest that the ecosystem still has significant challenges to overcome. The focus on internal acquisitions is promising, but it needs to expand beyond financial services to foster a more robust market.
