Top 5 African Tech Companies that can Become Unicorns in 2025

Do you know what a unicorn is? A unicorn company is a private startup that is projected to be worth more than $1 billion during a venture capital investment. According to Wikipedia, a unicorn is a startup company valued at over US$1 billion which is privately owned and not listed on a share market.

Africa’s tech ecosystem is experiencing unprecedented growth, with startups driving innovation across industries such as fintech, health tech, agritech, and edtech.

In 2024, African startups secured over $2 billion in funding. While this figure marked a slight decline from the previous year, the continent made strides in global competitiveness and recognition. This progress demonstrates that Africa is no longer in a phase of merely catching up—it’s shaping the future of innovation.

While the continent currently boasts several unicorns, many emerging companies are on the cusp of achieving billion-dollar valuations in 2025. This article identifies the top five African tech companies likely to reach unicorn status.

Top 5 African Tech Companies that can Become Unicorns in 2025

1. Andela

Andela is revolutionizing the tech talent space by connecting skilled software developers from Africa with top companies worldwide. It is a tech company with African roots and global ambitions.

It was founded in 2014 by Jeremy Johnson (American), Christina Sass (American), Iyinoluwa Aboyeji (Nigerian), and Ian Carnevale (Canadian). Originally established in Lagos, Nigeria, Andela was designed to address one of the continent’s biggest challenges: the lack of access to opportunities for talented software developers.

Andela has grown into a multinational company with headquarters in New York. It connects businesses worldwide with a pool of skilled software developers. These developers are vetted through a selection process. Everyone who gets into the network is about the top 1%.

Andela provides remote work opportunities, therefore bridging the gap between Africa’s tech talent and the global demand for skilled developers.

Initially, Andela focused on training and hiring developers from Nigeria, Kenya, and Uganda before expanding to include talent from across Africa. In 2020, the company transitioned into a fully remote model, which has made it possible to recruit developers from over 80 countries.

Andela has expanded its operations beyond Africa to recruit talent worldwide. In light of this, they have garnered support from high-profile investors, raising over $381 million in funding.

The company’s Series E round in 2022 brought in $200 million, valuing it at $1.5 billion.

In 2025, Andela’s revenue is projected to grow by 35% annually as demand for remote tech talent continues to rise. Analysts predict that Andela’s valuation could exceed $3 billion by 2025, making it a prominent force in the global tech ecosystem.

This has made Andela one of the top African tech companies that will become unicorns in 2025.

2. Wasoko (Kenya)

Wasoko, formerly Sokowatch, is transforming Africa’s informal retail sector through its B2B e-commerce platform. It is changing how small retail shops restock their goods. The company connects small retailers with suppliers, streamlining inventory and delivery processes.

Founded in 2015 by Daniel Yu, this Kenyan-based startup lets shop owners order products via SMS or a mobile app with same-day delivery.

They’ve already made waves in Kenya, Tanzania, Rwanda, and Uganda, and their $143 million Series B funding round in 2022 signaled big ambitions. As it expands into new markets and offers more financial services like inventory credit, Wasoko is well on its way to becoming a unicorn.

Wasoko operates in six African countries and has recorded over $300 million in annual transaction volume. In 2022, the startup raised $143 million in Series B funding led by Tiger Global, achieving a valuation of $625 million. Its model addresses a massive market gap, with over 90% of retail sales in Africa occurring in informal markets.

Industry analysts, including Disrupt Africa, project that Wasoko’s continued growth and market dominance could attract an additional $150 million in funding, solidifying its unicorn status.

Here is another top African tech companies that will become unicorns.

3. Yoco (South Africa)

Yoco is one of the top African tech companies that will become unicorns in 2025. It provides small businesses in South Africa with point-of-sale (POS) devices and digital payment solutions. The company has carved a niche in enabling cashless transactions for underserved markets.

South Africa’s Yoco is on a mission to empower small businesses by providing easy-to-use payment solutions. Founded in 2015 by Katlego Maphai, Carl Wazen, Lungisa Matshoba, and Bradley Wattrus, Yoco helps entrepreneurs accept card payments without the hassle of dealing with traditional banks.

Yoco’s sleek POS systems and business management tools are a hit with small and medium-sized enterprises. They’ve already served over 200,000 businesses and processed more than $2 billion in payments. With $107 million raised so far and a growing push toward cashless payments in Africa, Yoco is primed for massive growth in 2025.

With over 300,000 merchants using its services, Yoco processes billions of dollars in transactions annually. They have an expanded customer base.

The company raised $83 million in 2021 to develop new products and expand across Africa.

The COVID-19 pandemic accelerated the adoption of cashless payments, increasing demand for Yoco’s solutions.

According to Business Insider Africa, Yoco’s plans to scale operations across Sub-Saharan Africa could lead to a $200 million funding round, elevating its valuation to unicorn status. It has become one of the top African tech companies that will become unicorns in 2025.

4. mPharma (Ghana)

mPharma is a Ghanaian health-tech company addressing one of Africa’s most pressing challenges: access to affordable and high-quality medicines. Founded in 2013 by Gregory Rockson, Daniel Shoukimas, and James Finucane, mPharma uses technology to manage prescription drug inventory for pharmacies, hospitals, and patients.

Based in Accra, mPharma operates across multiple African countries, including Nigeria, Kenya, Zambia, and Rwanda, providing innovative solutions that improve pharmaceutical supply chains and healthcare delivery.

They’re on a mission to make medicines more accessible and affordable for patients across Africa. The company achieves this by managing prescription drug inventory for pharmacies, hospitals, and other healthcare providers. With technology, they optimize procurement, reduce inefficiencies in the supply chain, and ensure consistent availability of medications.

One of the features that stand out in their operation is its Mutti Program, which allows patients to access medications through flexible payment plans. This innovative approach has helped thousands of underserved Africans to get life-saving drugs without the financial burden of paying upfront.

mPharma’s operations have expanded steadily, with the company entering markets like Ethiopia and Uganda in 2023. In 2024, mPharma was operating in over 10 African countries and managing a network of 400+ pharmacies. This growth is fueled by partnerships with global organizations; World Health Organization (WHO) and the Bill & Melinda Gates Foundation.

In 2021, the company secured $35 million in a Series D funding round to accelerate its growth and expand its reach.

mPharma’s revenue is projected to grow by 40% annually, driven by increased adoption of its Mutti Program and pharmacy management services.

By 2025, the company aims to operate in over 20 African countries, managing a network of 1,000 pharmacies.

Having raised $65 million so far, their innovative approach to healthcare could easily propel them to unicorn status in 2025.

5. Twiga Foods (Kenya)

This is one of the top African tech companies that will become unicorns in 2025.

Twiga Foods is revolutionizing Africa’s agricultural supply chain by connecting farmers directly with vendors through its tech-enabled platform. It connects rural producers to urban consumers using mobile phones. This reduces inefficiencies and ensures fair pricing for both parties.

Founded in 2014, the company solves problems in the food industry, minimizes losses after the harvest, and sets equal prices for the primary seller and the final buyer.

Twiga uses technology to address quality produce and food availability and increase farmers’ income stability. Their business model brings value by encouraging responsible farming and improving the well-being of urban society.

Agriculture contributes over 20% to Kenya’s GDP, and Twiga is at the forefront, which highlights the potential for scalable solutions in this sector.

The company raised $50 million in a Series C round in 2021, bringing its total funding to $110 million.

Additionally, Twiga has introduced credit services for vendors, enhancing their purchasing power.

Analysts at Forbes Africa estimate Twiga Foods could raise an additional $100 million to expand across Africa, pushing its valuation to unicorn levels.

It is one of the top African tech companies that will become unicorns in 2025.

Why Am I Confident About the Above Listed Companies?

Africa’s tech startups raised $6.5 billion in 2022, according to Partech Partners. This upward trajectory is expected to continue as global investors recognize the continent’s potential.

The population of Africa is young and tech-savvy. This population is projected to reach 1.7 billion by 2030, and they are the drivers of the demand for innovative solutions across sectors.

Many African countries are introducing favorable policies to attract tech investments, including tax incentives and startup funds.

Conclusion

The African tech is brimming with potential, and these five companies are at the forefront of driving change and innovation. They’re the top African tech companies that will become unicorns.

As they expand their services, attract funding, and tap into underserved markets, their journey toward unicorn status is not just likely but inevitable.

Investors looking to capitalize on Africa’s booming tech scene should closely monitor these rising stars in 2025.

In conclusion, these are the Top 5 African Tech Companies that can Become Unicorns in 2025.

References

Disrupt Africa – Analysis of Wasoko’s growth and funding milestones.
Business Insider Africa – Insights into Yoco’s market impact and investment potential.
Crunchbase – Data on Healthlane’s funding and strategic plans.
Forbes Africa – Projections for Twiga Foods and Africa’s agriculture sector.