If I had to guess, I think the first of such acquisitions would be a fintech startup. Maybe Paystack or Paga (Square? Paypal?).
And by the way, I don’t think there’s going to be any M&A of any sort until like 2023-ish. The industry is still young and internet and smartphone adoption is still penetrating Nigeria.
I initially thought Deal Dey could position themselves perfectly for a Groupon acquisition in 4 years but my opinion has changed on that for some time now. Not sure Jumia will ever reach that point but hey, I could be wrong.
Also, what do you think it would take for the market to make the startups look ripe enough for acquisition to these companies?