Why startups fail: The overlooked role of people processes
12 startups shut down in Africa in 2024, with 25% due to people and operations-related challenges. 18 startups failed in the previous year due to lack of operational licenses and poor HR processes.
4 African startups that shutdown in Q1 2025
African tech startups secured $780 million in funding in the first half of 2024, a 57% decrease from 2023. 54gene, a Nigerian genomics company, and Sendy, a Kenyan logistics startup, shut down due to funding problems.
EXCLUSIVE: Earnipay cuts workforce amid profitability push
Earnipay has laid off a portion of its team as part of a strategic shift towards its most profitable segment—business lending. The layoffs come after Earnipay raised a $4 million seed round to scale its earned wage access platform across Nigeria.
54gene founder breaks silence on resignation, opens up about personal struggles
Dr. Abasi Ene-Obong's LinkedIn post clarifies circumstances of his departure from 54gene. He described his resignation as part of a 'hostile takeover' attempt.
10 African startups that have closed during the “funding winter”, and some that are battling on
Venture capital funding globally almost halved in the first six months of 2023. African tech startups raised just shy of US$500 million in Q3, down 48% compared to the previous year.
