Paystack acquisition by Stripe: Major win for Africa
As soon as the news dropped, the whole media went agog. This coincided with the #EndSars protest making the entire ecosystem making it a major win to the Nigerian youth. I particularly got excited that a company barely 5 years from founding and having two young Nigerian as Founders made a huge and clear statement. The returns on initial investment is rumored to be ~9000%.
I am briefly explaining the advantages of this:
i.) Founders all around Africa understand that the next Zukerberg can be an African, there’s really no limit to the dream. As long as you are creating doing something epic with potential to scale, then the sky is not the limit.
ii.) Our local investors will be more encouraged to invest in the African ecosystem. I mean more than 50% of the returns on this exit goes to foreign investors.
iii.) Foreign investors are looking in our direction: It used to be unclear on how exits were going to happen. Now it is clear
I predict within the next 12 months we should get mega-exit announcement of Flutterwave another major payments processor.
We need more of this:
An early investor :)