Remarkable achievements and innovative approaches are at the core of some of Africa’s most inspirational entrepreneurs.

These individuals are often called "unicorns", a term created by Aileen Lee in 2013 to describe startups valued at over $1 billion.

Here are some of the inspiring “unicorn” companies in Africa that achieved notable success.

Jumia: Founded in 2012, Jumia is a leading e-retailer platform in Africa. It has expanded to 14 countries and offers several products, from electronics to fashion. Jumia's success can be attributed to its strategic partnerships and innovative logistics solutions.

M-Pesa: M-Pesa is a mobile money service, brought to life in 2007, that enables users to send and receive money via their mobile phones. It has become a staple in many African countries, with over 40 million users. M-Pesa's success is a testament to the power of mobile technology in driving financial inclusion.

Andela: Founded in 2014, Andela is a talent accelerator that connects top African developers with global companies. Andela's success highlights the potential of African tech talent.

Walmart's investment in Africa: Walmart acquired a majority stake in South Africa’s Massmart in 2011. Walmart's success in Africa underscores the importance of strategic partnerships and market understanding.

Lessons learned

Adaptation to local markets: African unicorns have thrived by understanding and adapting to local markets. Jumia, for instance, has tailored its services to meet the unique needs of each country it operates in.

Innovative solutions: Companies such as M-Pesa have developed innovative solutions to address specific challenges, such as financial inclusion. This approach has allowed them to tap into underserved markets.

Partnerships and collaboration: Strategic partnerships have been crucial for African unicorns. Andela's success, for instance, is built on its partnerships with global tech giants.

Embracing tech: African unicorns have leveraged technology to drive growth and efficiency. Jumia's use of logistics technology has enabled it to expand its operations across multiple countries.

The success stories of African unicorns are a testament to the entrepreneurial spirit and innovative potential of the continent. By embracing local markets, developing innovative solutions, fostering partnerships, leveraging technology, and demonstrating resilience, these companies have achieved remarkable success.