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If you go by the book, it's actually easier to start operations in Rwanda than it is in some states of the US South. And that's being charitable to the American
by fakedang 3y ago
If you go by the book, it's actually easier to start operations in Rwanda than it is in some states of the US South. And that's being charitable to the Americans. But Rwanda is one small country in Africa that's unlikely to give you the VC level returns that are expected by your investors.
Indeed, there are some Africa-centric startups that started in Africa and ended up expanding outside (Flutterwave is one, started in Nigeria; then there's the massive flop named Swvl which started in Egypt, before expanding to other countries in the Middle East).
- rvba 3y agoWikipedia page about swvl is fascinating: the backstories of the people behind look like something written by themselves or by their marketing department (never corrected to neutral point of view). Then we learn that some spwcial purpose vehicle purchased it and stsrted layoffs nearly immediately? Purchase at last day of march and layoffs in may? How was the due dilligence made? Were those people not needed? 99% loss of value too
- fakedang 3y agoDue diligence in the Middle East? Haha! The founder rode on the coattails of Careem and its founders. He was even feted by the sheikh of Dubai on Twitter. Careem (itself a former unicorn sold to Uber at $3.1B, now recently sold to a telecom for $400m) exited their position just before the Swvl SPAC.