For a startup that once promised to rewire fast-moving consumer goods distribution across southwest Nigeria, the footage has drawn renewed attention to mounting questions about the company’s viability.
The capital injection from Kua Ventures will enable Continental Seeds to scale its operations, reach more farmers, and encourage youth participation in agriculture.
Nigeria, hitherto Africa’s largest economy, painted a grim picture for dLocal. Revenues fell to $2.1 million in Q3 2024, a mere 1% of total company revenues, down from $55 million during the first nine months of 2023.
Although YoLa Fresh is registered as a U.S.-based entity, its operations and market are primarily localized in Morocco, granting the Moroccan Competition Council oversight in assessing its market impact.
develoPPP Ventures, which has already seen success in other major African markets — including Ghana, Nigeria, Kenya, Tanzania, Rwanda, and South Africa.
As pressures mount in Africa's nascent startup scene, more founders turn to familiar sources for support - and it's rarely their investors or even their colleagues.
In 2023, Ghana received US\$2.4 billion in personal remittances, which is estimated to account for about 6% of the country’s GDP. This makes Ghana the second largest recipient of remittances in sub-Saharan Africa, after Nigeria.
Google states that past beneficiaries from the Black Founders Accelerator and Black Founders Fund, spanning Africa, Europe, Brazil, and the United States, have collectively received over $30 million in funding to expand their businesses.
For a startup that once promised to rewire fast-moving consumer goods distribution across southwest Nigeria, the footage has drawn renewed attention to mounting questions about the company’s viability.
Across 29 disclosed deals, African startups and growth-stage companies raised at least $340.5m in February. The number tells one story. How the money moved tells a different one.
