A Nigerian B2B e-commerce startup focusing on logistics and financing for merchants, recently pivoting to traceability services.
‘You can’t hustle forever’: Sabi’s Okubadejo calls for systemic thinking among African founders
Olumide Okubadejo warns that 70-80% of African startups fail within their first five years due to infrastructure challenges. Funding for African startups decreased by 22.73% in 2024, highlighting the need for resilient systems.
The Gender Divide in Africa’s Most Funded Startups
Over 2,200 startups in Africa have raised more than $100 million in funding since 2019. Only 3 out of the Top 100 most funded African startups have women as CEOs.
E-Commerce Startup Sabi Lays Off 20% of Staff as It Shifts Focus to Global Commodity Trade
Sabi has laid off approximately 50 employees, representing 20% of its workforce. The startup is shifting its focus from retail services to exporting traceable, ethically sourced commodities.
After raising $38M, African e-commerce startup Sabi lays off 20%, pivots to traceable exports
Sabi laid off around 20% of its workforce, approximately 50 employees, as part of a restructuring effort. The company is pivoting from a retail-focused platform to a growing business in commodity exports.
Sabi cuts staff as it narrows its focus to commodities’ trade
Sabi laid off roughly 50 staff members, about 20% of its workforce, in a restructuring effort. The company is pivoting to focus on its TRACE platform for tracking minerals and agricultural goods.
