Food delivery startup OyaNow is targeting the 1% to break even by Q1 2026
OyaNow projects to break even by Q1 2026, focusing on affluent consumers. Competitors like Jumia Food and Uber Eats have exited the Nigerian food delivery market due to unsustainable economics.
How can female founders find capital in a world where investors are not looking for them?
In 2024, women-founded startups in Africa received just 1% of total VC funding, marking a five-year low. Investment experts discussed systemic biases in venture capital that sideline female founders at a roundtable organized by Spurt! and the UK-Nigeria Tech Hub.
Chowdeck restructures workforce amidst Ghana expansion Plans
Chowdeck reduced its contract workforce by 68% as part of operational streamlining. The company has automated processes, allowing teams to operate with significantly fewer staff.
A beginner’s guide to investing in Nigerian startups
Moniepoint hit the unicorn milestone. Paystack's acquisition in 2022 validated Nigeria's tech ecosystem.
Profitable FoodCourt laid off nearly 100 staff after process restructuring in May
Redesign of cooking processes led to nearly 100 redundancies in May 2024. FoodCourt aims to reduce meal preparation time to 20 minutes.
