How to buy an
African internet
business.
From browsing your first listing to closing the deal — a step-by-step guide for first-time and experienced acquirers operating across Africa.
The buying process
Every acquisition follows this 7-step workflow — from your first browse to the day funds transfer. Click any step to explore the detail.
Browse & Shortlist
Explore verified listings filtered by category, country, revenue range, and multiple. Save businesses that match your criteria and budget.
Sign NDA & Access Data Room
For businesses you're seriously interested in, sign a digital NDA. This unlocks the full data room: verified P&Ls, traffic data, customer metrics, and seller contact.
Preliminary Due Diligence
Review the data room thoroughly. Use our AI-powered diligence tools to surface red flags, benchmark metrics, and draft your initial questions for the seller.
Submit Offer & Sign LOI
Submit a formal offer through the platform. Negotiate terms, agree on price and structure, then sign a Letter of Intent to begin exclusivity.
Full Due Diligence
Deep dive into every aspect of the business. Our structured DD framework covers financial, technical, legal, and operational areas.
SPA & Legal Docs
Both parties sign the Sale and Purchase Agreement. Our AI legal tools help you review and negotiate the SPA, non-compete, and transition agreement.
Escrow & Asset Transfer
Fund escrow via Paystack or Stripe. Assets transfer systematically per the checklist. Escrow releases once all conditions are confirmed by both parties.
What type of business should you buy?
Each business model has different valuation drivers, risk profiles, and operational requirements. Match the category to your skills and goals.
SaaS
E-Commerce
Content / Media
Agency
AI Business
Marketplace
Pro tip: Your first acquisition should be in a category where you bring operational skill or industry knowledge. Buying a SaaS business when you have no technical background significantly increases your execution risk.
Due diligence checklist
This checklist covers the four critical areas of business DD. Skipping any area is how buyers get surprised post-close.
Financial
Traffic & Product
Legal & IP
Operations
Buyer Membership includes our AI-powered due diligence assistant — it surfaces questions specific to the business category and flags common risk patterns automatically.
Get membershipFunding your acquisition
You don't always need 100% cash. Here are the four most common ways buyers fund acquisitions on Africa Acquisition.
Cash Purchase
Best for deals under $200K or buyers with capital reserves
Seller Financing
When seller is motivated to close quickly or bridge a valuation gap
Earnout Structure
When buyer and seller disagree on future performance
SBA / Local Bank Loan
For larger deals ($250K+) with strong financial documentation
Negotiating the deal
Five principles that separate buyers who close deals they're proud of from those who either overpay or lose good deals entirely.
Understand the seller's motivation first
Are they burnt out? Relocating? Need cash quickly? A seller's motivation shapes their flexibility. A founder who needs a fast close will trade price for speed. A founder who is relaxed won't.
Always start with an LOI before legal fees
Never commission a full legal review before you have a signed LOI. The LOI confirms intent, establishes exclusivity, and prevents you wasting thousands on a deal that's not agreed.
Use data, not emotion
Back every counter-offer with specific data: churn trends, margin compression, single points of failure. Sellers respect buyers who've done their homework. "Your comp set trades at 2.5× and you're asking 4×" is more powerful than "that seems expensive."
Negotiate the terms, not just the price
Price is one number. Deal structure has dozens of variables: payment timing, earnout metrics, transition length, non-compete scope, reps & warranties cap, working capital targets. Often you can close a gap by adjusting structure.
Know your walk-away before you start
Set your maximum price (and minimum acceptable terms) before talks begin. Buyers who don't know their ceiling end up overpaying. Write it down before the first call.
Closing & onboarding
The deal isn't done when you sign — it's done when the business is running in your hands. Here's how to protect yourself through close and nail your first 90 days.
Days 1–7
Closing week
- Fund escrow via Paystack / Stripe
- Receive and review asset transfer list
- Domain, hosting, social accounts transferred
- Code repositories and data migrated
- Confirm completion checklist with seller
- Escrow funds released upon sign-off
Days 1–30
Transition period
- Daily check-in calls with previous owner
- Introduction to key staff, vendors, clients
- Shadow owner on all core business functions
- Document all undocumented processes
- Review and pause any unnecessary subscriptions
- Observe — don't change anything major yet
Days 30–90
First 90 days
- Set 3 measurable goals for your first 90 days
- Run first marketing experiment (don't skip this)
- Audit all tech and vendor relationships
- Build relationships with top 10% of customers
- Identify the #1 growth lever you'll pull first
- Establish your new operating rhythm
Success stories
Buyers who followed this guide
"Followed the DD checklist meticulously. Found a $40K discrepancy that would have killed the deal post-close. Negotiated a 12% price reduction and closed anyway."
David Mensah
Acquirer · Nairobi, Kenya
"The financing section changed my approach entirely. Structured a seller-financed deal at 20% down. Closed a $380K business with $76K cash."
Priya Naidoo
First-time acquirer · Johannesburg
"The 90-day onboarding framework is worth the membership alone. Revenue up 28% in my first quarter. I actually followed the guide step by step."
Adaeze Eze
Serial acquirer · Lagos
FAQ
Buyer questions answered
No. We serve international buyers regularly — diaspora investors, PE funds, and global operators. The business must be based in Africa, but the buyer can be anywhere. Our escrow supports international wire transfers and multi-currency payments.
Our listings start from approximately $50K asking price. With Buyer Membership ($280/yr), you get full access to all listings. Budget-wise, plan for the asking price plus 3–5% for legal fees, due diligence, and onboarding costs.
All verified listings (KYC badge) have had their revenue authenticated against bank statements by our team. You also get direct access to bank statement summaries in the data room. For deals over $250K, we recommend commissioning an independent financial review as part of due diligence.
Absolutely. We provide AI-assisted document templates but strongly encourage buyers on larger deals ($200K+) to engage a lawyer familiar with African digital business transactions. We can refer you to our vetted legal partner network across 5 countries.
Post-completion performance is the buyer's responsibility. The seller's liability is limited to what's specified in the SPA's reps and warranties section — typically capped at the purchase price for 12 months. This is why thorough due diligence is non-negotiable.
From first NDA to escrow release, the average is 38 days. Simple deals (under $100K) can close in 2–3 weeks. Complex deals ($500K+) with extended due diligence typically take 8–12 weeks. Buyer Membership holders close 40% faster on average due to faster data room access.
Your next acquisition
starts here.
Browse verified listings, unlock full financial data, and close your deal with our escrow-protected pipeline.
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