African logistics startups are part of a “third wave” of Africa’s tech revolution that is attracting investors because of its access to high profile customers, clear paths to profitability, and expert founders. Logistics as a sector is on the rise in Africa, with startups across the continent tackling bottlenecks and inefficiencies in all sorts of areas. Opportunities in the sector are only set to grow as the African Continental Free Trade Agreement (AfCFTA) comes into effect, and investors that would not normally consider Africa to be a happy hunting ground are taking note. According to the latest edition of the African Tech Startups Funding Report released each year by Disrupt Africa, logistics startups had a record-breaking 2019. The number of startups that secured investment went up by 91.7 per cent on 2018 numbers, while total funding increased by 264.6 per cent to US$69,627,000. Total annual funding in this sector has been growing at hugely impressive rates, jumping an astonishing 6,746 per cent since 2016, and these numbers are set for further improvement in 2020.
SOURCE: DISRUPT AFRICA
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