African tech in 2021 reached great heights, unseen before within the industry. We reached out to a few tech leads across Africa’s ecosystem to ask them what their thoughts were on 2021, as well as their predictions for the ecosystem in 2022
In 2021, Africa recorded its highest number of unicorns - a startup valued at over US$1 billion, in one year with five new unicorns (out of the total of seven), including Andela, Chipper Cash and Flutterwave. Investment into the ecosystem also reached a record high as a total of US$4 billion was invested into the ecosystem from both local and international investors. In 2022, we expect even more growth, building on the success of last year.
Reflecting on 2021, and predicting 2022, here's what Africa's tech leads had to say:
What’s the best thing that happened in African tech in 2021:
What is your 2022 prediction for the African technology sector?
Just like us, a lot of our respondents were excited about the funding that was poured into the African tech ecosystem in 2021 which led to the largest number of unicorns in a single year. For 2022, most are not just hoping for even more funding and more unicorns, but also more mergers and acquisitions, IPO launches, a focus on sectors outside of fintech, and the emergence of more African female-founded and funded startups, amongst others.
It's the start of the year, and the ecosystem is well on its way to smashing all its previous records, we are here for it!
To keep up to date with the latest news and movements in the African tech space, sign up to the monthly AfriTech XYZ newsletter!
About the author
Tosin Omowole is a Content Creator at AfriTech XYZ, working on key content assets to support the community. She is also a PR professional with vast experience working on African fashion, lifestyle and technology companies.