This year will mark the milestone of 8 billion people living on Earth. Whenever the global population is discussed the 1.4 billion Chinese and 1.3 billion Indians are touted. The other group of 1.4 billion people live on the continent of Africa.
It’s almost time for Africa Eats’ annual “Gathering”, where all of the bizi founders fly to Nairobi for two days of facilitated discussions including a deep dive into building the missing business infrastructure for African SMEs, including a plan to unlock the capital markets. This event is unlike any other we know of. It is the day after Sankalp, but far more interactive...
It’s quite rare when the U.S. media has something nice to say about Africa. This week was an exception, in The New York Times, in an interactive digital article about the population growth and economic growth of the African continent. The median age in Africa here in 2023 is just 19 years old, nearly a decade younger than in India and the rest of South Asia. By 2050, more than 1/3rd of all...
Which sounds and feels biggest? $2.83 million per month $8.5 million per quarter $34 million per year Back in mid-2020, when Africa Eats was founded, we were touting total aggregate revenues across the whole portfolio of companies as $7 million. That was the actual revenue earned by the “bizi” in 2019. In the three months of Q2 2023 (April-June), the bizi earned $8.5 million. That is...
Venture capital and angel investing are realms filled with unspoken assumptions. One such assumption is that companies should burn through substantial capital before even considering profitability. This notion is misguided! Countless startups, often overlooked by these investors, are compelled to be profitable to survive. If these investors took a moment to recognize these startups, they would...