A Silicon Valley playbook is being forced onto fragmented markets, where patience, not speed, is the key to survival.
The Graveyard Grows Bigger
In Nairobi, the buzz around Sendy used to feel electric. Its bright-orange delivery bikes zipped through traffic, symbolizing possibility and speed. Then the silence came. Investors pulled back, growth slowed, and the company, once backed by Toyota and valued at tens of millions, folded. Stories like this are no longer rare. In just the first quarter of 2025, four African startups, including Lipa Later, shut down despite raising over $15 million.
The dream sold by venture capital has started to fray. African startups attracted $3.6 billion in Venture Capital (VC) funding in 2024, even after a 20% decline from the previous year. On the surface, this looks like momentum. But underneath, the numbers tell a different story. More than half of these startups fail. In some countries, failure rates approach 75%. Why? Because the VC model wasn’t built for Africa. It expects speed, scale, and exits. Africa demands patience, context, and staying power.
A Silicon Valley playbook designed for mature markets with. . .
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