3 big predictions for 2022

About Fatu
By Fatu Ogwuche

Top of mind: Happy New Year! What an honour to be back in your inbox. I hope you had a fantastic holiday.

My goal this year is to experiment. As I told Revue in their 2021 end of year newsletter, I’m experimenting with design, content, and partnerships. I’ll love your feedback – I know you have strong opinions. Let me know what you think when you notice changes.

Let’s get into 2022.

3 big predictions:

  • All hail crypto
  • Billions of dollars
  • An African IPO

#1 prediction: Africa’s crypto community will 10x in 2022

Credit: Finance Monthly

The short: I’m sure you heard a lot about crypto from friends and family over Christmas dinner. I’m happy to tell you that’s not ending anytime soon. More than ever, people are trading cryptocurrencies. Last year, crypto exchange app Coinbase surpassed TikTok and YouTube to become the most downloaded app in the iOS Store, twice.  

Ponzi-lite: Crypto’s fanbase is as polarising as Dave Chappelle’s – it’s love or hate. Enthusiasts claim crypto is the Apple of Web3, while others are not as bullish. Nevertheless, it’s hard to argue against a system that enriches early adopters as new users are onboarded.

Up Satoshi!

Better news: All the foundational work for adoption happened in 2021 and more crypto startups are investing in educating users about web 3 to accelerate adoption. Plus, your favourite fintech apps are integrating crypto features to match organic in-app activity. It’s an exciting time to learn about web 3, no such thing as too late. Africa’s crypto community will 10x in 2022, and we’ll see more entrepreneurs build exciting web 3 projects. 

God speed.

#2 prediction: African startups will raise $10b+ in funding

Google CEO Sundar Pichai in Lagos

The short: This one’s a no-brainer. If last year’s net raise of $4.3 billion is any indication, we’ll see more foreign investors write bigger checks to back African startups. There’s a tech renaissance on the continent. No VC wants to be left behind (like Shaq). 

Numbers: In 2021, the growth of the continent’s tech ecosystem was immense. Investment more than doubled from 2019 and 2020. Five unicorns were born, $100M+ funding announcements became hot topics, and Egypt attained tech’s Mt Rushmore status, joining Nigeria, South Africa, and Kenya as Africa’s top startup cities. 

2022 got a good head start.Good Year: I’m super excited for this year in African startups. 2o22 will be a monumental year for companies that take bold risks. Rewards will be plenty, mistakes will be made, but the industry will be better for it.

#3 prediction: An African startup will go public

New York Stock Exchange | Credit: NYSE

The short: 2021 was a fearless year for African startups – domestic acquisitions, baller fundraises, market expansions, product launches, etc. What took Interswitch 17 years to achieve, startups are attaining in less than 5.

Early ecosystem leaders have laid the foundation for this era’s startups to thrive. Now, there’s a community of innovative leaders making bold moves. 

Big bets: Despite an influx of capital from local and foreign investors, the wave of global IPOs has long eluded Africa. Coinbase’s NASDAQ listing was the last IPO to create a buzz in Silicon Valley. There’s more work to be done, but I think the ecosystem is ripe for an IPO. If for anything, to give emerging startups the freedom to move fast and break things

Bottom line: Let’s talk in December, if I’m wrong about this I’ll give a random subscriber an Oculus Quest 2. Revv your prayers up!

Please do us a solid by sharing the newsletter with your network of tech enthusiasts. Invite them to join the party 🙂

That’s it for the week. See you next Sunday!

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