01/24 Tech Roundup: 2023 Year in Review & 2024 Projections

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Episode Summary:

In this episode, we reflect on the remarkable events and trends in technology across Africa over the last year and share our projections for the year ahead. 

We kick off with discussions around the key highlights from the previous year in the tech ecosystem based on various reports. We discussed the decline in tech investments across Africa, talked about investor portfolio realignment, and highlighted the retreat of global investors like Tiger Global from the market. 

We don't shy away from the tough questions either, scrutinizing the murky details of big acquisitions and stressing the need for clarity in such deals. The episode moves through the tough tides of venture debt, currency devaluation, and how these are reshaping startup survival strategies.

Despite the challenges such as currency devaluation and market slowdowns, we delve into the promise of 2024. We predict a possible pickup in growth stage investments, anticipation of a major African startup exit, and increased investments in Africa's secondary markets.

Tune in for an episode jam-packed with thoughtful analysis, critical insights, a dash of banter and perhaps the fuel for your next big idea. Remember to join the conversation with your own forecasts at @vizibleafrica on Twitter!

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Episode Chapters:

• 2023 Investment Highlights [00:00:16 - 00:06:46]

• Realigning Global Portfolios [00:06:47 - 00:08:19]

• The Role of DFIs and Venture Debt [00:09:11 - 00:10:59]

• Challenges in Growth Stage Investing [00:10:59 - 00:14:59]

• Startup Market Retractions and Expansions [00:17:04 - 00:20:06]

• Startups and Currency Devaluation Impact [00:21:55 - 00:23:44]

• Francophone Expansion Interests [00:26:41 - 00:29:21]

• Acquisition Activities and Transparency [00:35:36 - 00:44:50]

• Predictions for 2024 [00:45:22 - end]

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Transcript:

https://docs.google.com/document/d/1dnLmbsZha_IwQkXiBaLppbme27cyrZd_WkNwLRJ1CoQ/edit?usp=sharing

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Some of the things we referenced:

• Partech 2023 Africa Tech Venture Capital Report

• How African startups raised funding in 2023 by TechCrunch

• Briter Africa Investment Report 2023

• Africa: The Big Deal Report 2023

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You can find Vizible at:

• Website: ⁠https://www.vizible.africa/

• ⁠Substack: ⁠

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• Twitter: ⁠https://twitter.com/vizibleafrica⁠

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You can find us at:

• Dami's Twitter: ⁠https://twitter.com/LongLiveDumi⁠

• Dami's LinkedIn: ⁠https://www.linkedin.com/in/damilolaoludumila/⁠

• Yemi's Twitter: ⁠https://twitter.com/YemiA_⁠

• Yemi's LinkedIn: ⁠⁠https://www.linkedin.com/in/yemiadegbayi/⁠

• Tage’s Twitter: ⁠https://twitter.com/ulonnaya⁠

• Tage’s LinkedIn: ⁠https://www.linkedin.com/in/tage-kene-okafor/