70% of African startups fail in the first 5 years; Clarus believes it’s a go-to-market problem
- Joovlin, a Nigerian fintech, shut down after failing to grow its user base sufficiently to sustain operations.
- Experts estimate that around 70% of African startups fail within their first five years, with funding issues often cited as a primary cause.
- Clarus, founded by Victor Ekwealor, aims to help startups build repeatable growth systems and focus on operational maturity.
The challenges faced by startups like Joovlin highlight the need for a fundamental shift in how African startups approach growth and sustainability. Emphasizing operational discipline and structured go-to-market strategies could foster a healthier ecosystem that prioritizes long-term success over short-term gains.
