Do white founders in Africa have an easier time getting capital?
The topic of inequity in funding local startup founders in Africa is a recurring one in the continent.
Even as investor interest in the continent strengthens and funding for African startups increases, the reality is that most of it goes to startups led by white people. A longstanding view is that it’s easier for them to raise funds for their projects in Africa, regardless of their experience in the continent or understanding of it.
Take the recent case of Robin Reecht, a French national who recently provoked the ire of Kenyans on social media when Techcrunch reported that his food startup, Kune, had raised $1 million to launch an on-demand food service. His narrative and basis for the funding, including points about Kenya having neither “great food at a cheap price” nor “a strong food culture” was problematic. He realized the “market gap” in just three days of being in Kenya. All this, Kenyans on social media said, pointed to white privilege in startup funding in Africa.
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