The only thing that really matters for a startup is having a product that people really want, and ideally can’t help but tell others about.
That’s probably 90% of the game. All the other startup accoutrements that we all hem and haw about are worth the other 10%.
60% of SMEs close shop every 18 months.
90% of payment transactions in Africa are in cash.
40%+ of African adults can't read or write.
Any startups solving for pain points of SMEs can't ignore these facts.
"I am a startup founder in Africa, I want to raise funding in early 2023, which investors should I talk to?"
Here's a list of ALL the active investors (1,600+) in the continent with details on the deals they've closed since 2019. DM us for discount.
👉https://t.co/sG25aBUWG0
A UN report found:
Africa is the least connected region with 60% of the population offline.
For those that are online, Africa has the most expensive internet data (15x more than in Europe).
The true market size of many startups might be smaller than the decks say.
There is no greater skill to master than mastering the art of the cold email.
Vastly underestimated, make it precise, targeted and personal enough and even the biggest of big will respond.
Do the work, put in the time and do not give up.