A former e-commerce platform in Kenya that collapsed due to operational debt and failure to secure funding.
Inside Africa’s tech layoffs: What the data says (2023–2026)
Africa's tech ecosystem raised a record $4.65 billion in 2022, but funding fell by 37.2% to $2.92 billion in 2023. Alerzo, a Nigerian B2B e-commerce startup, laid off over 400 staff in March 2023 due to over-hiring and macroeconomic conditions.
Former Copia Executives Launch Stahili E-Commerce Platform Amid Kenya’s Startup Recovery Questions
Stahili, a new e-commerce platform, has been launched by former Copia Global executives. The platform offers cashback, discounts, and mobile data rewards to engage users.
Weeks after Copia’s collapse, co-founder, top executives quietly registered new startup
Copia Global collapsed in May 2024 under operational debt and failed to raise funding. Former Copia executives launched Stahili, a new e-commerce platform, in June 2024.
3 Risks African Startups Face Scaling Operations
Funding for African startups has decreased by 50% to $1.1 billion in 2024, with high borrowing costs complicating cash flow management. Twiga Foods has effectively managed cash flow by negotiating supplier terms and adopting subscription-based revenue models.
African Tech Startups in 2024: Mergers, Expansions, and Funding Challenges
39 mergers and acquisitions (M&A) deals occurred in Africa's tech industry in 2024, a 34% increase from 2023. Southern Africa led with 16 startups being acquired, followed by West Africa with 10, East Africa with 7, and North Africa with 4.
