This page is dedicated to providing information about Fintechs that have gone out of existence despite the huge funding's they received from Western Venture Cpaitalists and why in my opinion i think they MUST go bust despite the funding's. This is not a thread for casting aspersion on the entrepreneurs, but studying & learning from their mistakes.

In no particular Order, i am starting from Zazzu ~ the latest to bite the dust!

Latest to bite the dust!
Zazuu, a London-based fintech that built a marketplace for African remittance companies and raised more than $2 million, has shut down, citing a lack of funding. Two fuvking million dollars!!!!

Zazuu, the fintech marketplace for cross-border payment networks in Africa that raised over $2 million from investors like Launch Africa and Founders Factory, has shut down after failing to raise funding. “We explored every option before making this decision,” the company said in a LinkedIn post announcing the closure.

Zazuu was founded by Nigerians;
Kay Akinwunmi (CEO),
Korede Fanilola (COO),
Tosin Ekolie (CTO), and
Tola Alade (CDO) in 2018.

They raised a $200,000 seed round from Launch Africa and ODBA in August 2021.

A year later, the company raised $2 million from Launch Africa, Founders Factory Africa, ODBA, HoaQ, Tinie Tempah, Jason Njoku, Babs Ogundeyi, and other angel investors.

Did anyone notice something? These guys simply took tribalism further, to running a company! They must think the Brits who allows the Indians & others to run their country must be fools who have no Englishmen capable enough to be PM.

As for Zazzu, tribalism killed the promising LLC. Say NO to tribalism!

So how the heck is Bigkoko Group Inc. managing to stay in business when many others are going bust? Not only were we able to hold our head above water, we were also able to launch a branch in Sweden, thus providing a veritable bridge between Africa and mainland European. By 2nd quarter 2024, we hope to launch another branch in New York City USA!

So far, the MD/CEO has committed over $50k of personal funds to see this up.

Bigkoko Group Inc. building African most successful Startup!

Use Bigkoko Gift Cards ~ Your Pan African Gift Cards! Available & Accepted by Vendors in Rwanda, Kenya, Uganda & Nigeria!

One of the reason why Bigkoko Group Inc is still afloat despite zero funding from VC & Angel investors is because our Business & Scale up model is different from Western models. We are using the Igbo Apprentice model. You serve & get compensated.

But most of these Fintechs going bust takes out so much from the business because they are not the ones providing the fundings. Our ancestors once said that when you carry your own water, you will learn the value of each drop!

Africa is not a Grave yard for Fintechs, Bigkoko is a perfect case of study!

This one na GREED kill am. Imagine paying himself $50k per month? Even fear go catch Dangote to receive that as monthly pay!

Dash ~ a Ghanaian Fintech, after raising $86.1 million shuts down! . This one na sure cash out for the boss!

Dash, the Ghanaian fintech has shuttered after a tumultuous run. The company did not achieve its vision to solve cross border payments for Africans by connecting mobile money wallets.

Dash, the Ghanaian fintech company with a mission to connect mobile money wallets and bank accounts across Africa, has confirmed that it is shutting down operations. The startup’s closure was first reported by WeeTracker.

Dash was founded in 2019 by Prince Boakye Boampong, and investors were excited by the problem the startup wanted to solve. Dash was working to ensure interoperability between mobile money wallets and bank accounts across Africa; its solution would have made sending money across Africa easy and efficient.
The startup raised $86.1 million in five years and attracted big-name investors. It raised $32.8 million in a seed round—the second largest seed round for an African startup—in 2021. Insight Partners led the round and other investors, like Global Founders Capital, 4DX Ventures and ASK Capital, participated. It went on to raise additional funding with convertible notes and debt financing from October 2021 to 2022.

In 2021, Dash began sharing eye-popping growth numbers. Per one publication, Dash claimed to have processed transactions worth $1 billion and said it had acquired a million users from Ghana, Nigeria and Kenya. Those numbers represented a 5x increase in its users in only five months.

In February, at least two publications reported suspicions about Dash’s user numbers and metrics, and later that same month, Prince Boakye Boampong was suspended as CEO. Internal audits of Dash’s numbers proved that Boampong misrepresented and exaggerated user numbers. He was eventually fired and replaced by Kenneth Kinshua.

New reporting suggests that the damage was already done by the time Kenneth Kinshua became CEO. The publication claimed that upon another audit of the company’s account, there was a shortfall of at least $25 million that was unaccounted for. With a reported burn rate of $500,000 per month and no revenue, Dash’s primary problem appeared to be its high overhead, as it had operations across five countries.

As reported by WeeTracker, Boampong was earning $50,000 per month and allegedly diverted at least $8 million. There are claims that the money was used to buy property and luxury cars. Boampong has not spoken publicly about any of the allegations.

What is the meaning of "Zazuu"?

You claim you don't intend to cast aspersions on companies, but you clearly ridicule Zazuu here.

In Africa, the only LLC that would compete with Bigkoko Group Inc. is Flutterwave. I have gone to the other side and saw that and i believe they have also seen it too! Wont say much!

In Africa its going to be Bigkoko & Flutterwave. The rest go exit business space for us to rule Africa! And Las las Bigkoko go swallow Flutterwave

With Bigkoko Pan African Gift Cards, even Visa, Master Card go bow when i finish cooking my cocoction!

No idea other than Zazzuu has gone to swim with the fishes after gulping over $2 million fvcking dollars!

immortalcrown:
What is the meaning of "Zazuu"?

Bigkoko:
No idea other than Zazzuu has gone to swim with the fishes after gulping over $2 million fvcking dollars!

I just found out that "Zazuu" means "Are you certain?" So, the company was not certain if it would be serious with its business.

Remember to ask, buy or use Bigkoko Pan African Gift Cards for cross border transactions.

By first Quarter 2024, we are opening an office in Enugu, and moving our regional office from Abuja to Enugu!

Bigkoko Group Inc. na we get Africa Solutions in terms of Finance & Business Technology!

Hahahahhahaahha..... certainly they were not that serious . No wonder after $2 million dollar, they just go out of business.
Western business scale up model can not work in Africa, just like their democracy. After months of reading research works from archives and personal initiatives, i have come to the conclusion that any Fintech the West Scale up do not last because, easy money means laziness and lack of innovative steps to survive. So me thinks the investment is a deliberate move to knock them out.

I suspect global Finance Cabals complicit, so that Visa & Master can continue to be that strong . See it like spend some few millions to buy over and render a potential competitor in Africa useless!

immortalcrown:
I just found out that "Zazuu" means "Are you certain?" So, the company was not certain if it would be serious with its business.

Flutterwave CFO, two finance executives resign months after company touted IPO plans.

Flutterwave’s Chief Financial Officer (CFO) Oneal Bhambani has resigned just 18 months after joining the fintech startup, raising questions about the company’s plans to list on the stock market.

“Last week, I made the difficult decision to end my tenure at the company,” he shared in a LinkedIn post on Tuesday. “Thank you to Flutterwave for a seat on its journey to scale payments across Africa… I wish everyone at Flutterwave the best, and I will be rooting for you.”

“Oneal Bhambani has decided to pursue new opportunities,” said Flutterwave in an email to TechCabal. “Israel Koledowo, Head of Finance for Africa, will lead the finance department on an interim basis as we embark on a global search for a new CFO.”

Bhambani joined Flutterwave in May 2022 as Africa’s most valuable startup contended with allegations of financial improprieties and employee bullying. He arrived at the payments company from American Express, where he was CFO of the US fintech’s small business lending arm, formerly called Kabbage, now American Express Business Blueprint. With two decades of experience working in finance, his arrival was expected to steady the ship, and he helped the company navigate fraud allegations in Kenya, East Africa’s largest economy, where Flutterwave didn’t have a license.

Bhambani joined Flutterwave alongside two other finance executives from Kabbage with experience in corporate audits and treasury work. Those executives, Rebecca Mendel and Oscar Lan. have also left the company. According to their LinkedIn pages, they both exited the company in October.

After Kenyan prosecutors withdrew their charges of financial impropriety against the company, Flutterwave has since returned to high growth territory and touted its plans to list on the stock market although it has declined to give a timeline for an IPO. The company launched a new currency swap product for the Nigerian market and released its redesigned international payments app called Send App. Flutterwave is also doubling down on consumer payments in addition to its primary business segment, which has fueled its growth for years.

Bhambani’s exit represents the most high-profile exit from Flutterwave since 2018, when its co-founder and then CEO, Iyin Aboyeji, left the company. The CFO’s departure, however, raises major questions about the fintech, which is backed by Tiger Global and valued at $3 billion, and its IPO plans.

Las las na only Bigkoko & Flutter wave go remain. And after the struggle, Bigkoko go swallow Flutter wave!

Use Bigkoko Pan African Gift Cards for Africa wide payment solutions. Ditch the Dollars! 21+ African countries to be covered in a single platform via official rates determined in Africa, not in London, DC, Brussels or Paris.

Okada Books, Nigeria’s pioneer digital publishing and bookselling platform, will shut down on November 30, 2023, citing rough macroeconomic conditions. “We explored various avenues to keep our virtual bookshelves alive but, unfortunately, the challenges we face are insurmountable,” said Okechukwu Ofili, the company’s CEO, in a statement shared on social media platform X.

Okada Books was launched by Nigerian writer Okechukwu Ofili in 2013 “to simplify distributing and selling books in Nigeria.” For Nigerian writers, getting publishing contracts has always been tough and self-publishing is also expensive. Okada Books was built on making self-publishing easy while connecting writers to people who would pay for their work.

With its Android application and online platform, authors could share their books directly with readers and profit from their work. According to its website, Okada Books took a 30% commission on every sale. The average book on the platform cost between N250 – N500, but pricing could be higher depending on the author’s choice.

“Okada Books created a market where none existed, so it’s quite sad to see them shut down. But I am looking forward to what fills this gap,” Ruth Zakari, editor-in-chief at Zikoko, told TechCabal.

Okada Books was among 12 startups selected for Google’s Launchpad Accelerator Africa in 2017. The digital publisher claimed to house a library of over 40,000 original books and 400,000 registered readers. Now that it is pulling the plug on its operations, writers who rely on the platform to monetise their works would be forced to find alternatives.

The shutdown comes amid a shaky macroeconomic market for African startups. Last week, TechCabal reported that Zazuu, the fintech marketplace for cross-border payment networks in Africa that raised over $2 million from investors, shut down after failing to raise funding.

This one na bad government kill am. Especially Emilokanomics!

Bigkoko:
Okada Books, Nigeria’s pioneer digital publishing and bookselling platform, will shut down on November 30, 2023, citing rough macroeconomic conditions. “We explored various avenues to keep our virtual bookshelves alive but, unfortunately, the challenges we face are insurmountable,” said Okechukwu Ofili, the company’s CEO, in a statement shared on social media platform X.

Okada Books was launched by Nigerian writer Okechukwu Ofili in 2013 “to simplify distributing and selling books in Nigeria.” For Nigerian writers, getting publishing contracts has always been tough and self-publishing is also expensive. Okada Books was built on making self-publishing easy while connecting writers to people who would pay for their work.

With its Android application and online platform, authors could share their books directly with readers and profit from their work. According to its website, Okada Books took a 30% commission on every sale. The average book on the platform cost between N250 – N500, but pricing could be higher depending on the author’s choice.

“Okada Books created a market where none existed, so it’s quite sad to see them shut down. But I am looking forward to what fills this gap,” Ruth Zakari, editor-in-chief at Zikoko, told TechCabal.

Okada Books was among 12 startups selected for Google’s Launchpad Accelerator Africa in 2017. The digital publisher claimed to house a library of over 40,000 original books and 400,000 registered readers. Now that it is pulling the plug on its operations, writers who rely on the platform to monetise their works would be forced to find alternatives.

The shutdown comes amid a shaky macroeconomic market for African startups. Last week, TechCabal reported that Zazuu, the fintech marketplace for cross-border payment networks in Africa that raised over $2 million from investors, shut down after failing to raise funding.

If you are not serious, don't up the death rate! ALLOW only those ready to compete genuinely against western LLC to thrive! The hustle is real

The lack of liquidity in the market, and the sudden difficulties startups used to regularly raising capital are now facing in convincing investors, has hit a certain type of African startup hard. Well-funded ventures pursuing fast-paced “growth at all costs” strategies are either having to pivot hard, or close up shop. Africa’s “startup graveyard”, until this year relatively empty of “star names”, is filling up fast.

In August, Kenyan end-to-end fulfillment startup Sendy shut down operations and announced a fire sale of assets (it didn’t call it that), with reports saying reduced order volumes and fuel price hikes meant it was making deliveries at a loss, and had a monthly burn rate of US$1 million. Sendy raised US$20 million in capital as recently as January 2020, but in the current climate further funding was not to be found.

enyan fulfillment and logistics enabler Sendy has announced funding from MOL PLUS, the corporate VC arm of Mitsui O.S.K. Lines, as part of a new undisclosed round to help it scale fulfillment services in Kenya, Uganda, Nigeria, and Ivory Coast.

Sendy provides an easy way for businesses of any size to move goods, with thousands of companies using its platforms and APIs to sell and deliver goods to their consumers. The company was founded in Kenya and has since grown to Uganda, Ivory Coast, and Nigeria, with plans to expand across Africa in the near future.

The funding from MOL PLUS, which comes as part of a wider round, will be used to further that goal.

“The opportunities to improve logistics and supply chain inefficiencies across Africa are great. We believe our financial and operational partnership with MOL PLUS and MOL Logistics will drive a huge impact not only for the growth of Sendy and its fulfillment network but also for the merchants we serve as we continue to offer more value add and solutions to help them grow and trade more. We will work with MOL Logistics to leverage their strengths and expertise in logistics and cross-border fulfillment, to grow our services and network of businesses we serve,” said Mesh Alloys, founder and CEO of Sendy.

The coming together of Sendy and MOL paves the way for synergies that will simplify logistics for business. MOL will partner with Sendy to provide its customers in shipping and freight with additional mid-mile and last-mile services.

“We were very specific in choosing to invest in Sendy because of the solution that they offer; we share a common goal. We all want to democratise logistics and support businesses in Africa to move their goods reliably and affordably. We look forward to an exciting partnership with Sendy as we forge this joint mission. We endeavour to work with partners with innovative ideas like Sendy through creating synergies and collaborations that will generate value,” said Takuya Sakamoto, representative of MOL PLUS.

SENDY is gone! I remember the Kenyans who were laughing Bigkoko in 2021, saying we are a brief case company! Lol. We are still swimming, heads above water!

Bigkoko:
The lack of liquidity in the market, and the sudden difficulties startups used to regularly raising capital are now facing in convincing investors, has hit a certain type of African startup hard. Well-funded ventures pursuing fast-paced “growth at all costs” strategies are either having to pivot hard, or close up shop. Africa’s “startup graveyard”, until this year relatively empty of “star names”, is filling up fast.

In August, Kenyan end-to-end fulfillment startup Sendy shut down operations and announced a fire sale of assets (it didn’t call it that), with reports saying reduced order volumes and fuel price hikes meant it was making deliveries at a loss, and had a monthly burn rate of US$1 million. Sendy raised US$20 million in capital as recently as January 2020, but in the current climate further funding was not to be found.

enyan fulfillment and logistics enabler Sendy has announced funding from MOL PLUS, the corporate VC arm of Mitsui O.S.K. Lines, as part of a new undisclosed round to help it scale fulfillment services in Kenya, Uganda, Nigeria, and Ivory Coast.

Sendy provides an easy way for businesses of any size to move goods, with thousands of companies using its platforms and APIs to sell and deliver goods to their consumers. The company was founded in Kenya and has since grown to Uganda, Ivory Coast, and Nigeria, with plans to expand across Africa in the near future.

The funding from MOL PLUS, which comes as part of a wider round, will be used to further that goal.

“The opportunities to improve logistics and supply chain inefficiencies across Africa are great. We believe our financial and operational partnership with MOL PLUS and MOL Logistics will drive a huge impact not only for the growth of Sendy and its fulfillment network but also for the merchants we serve as we continue to offer more value add and solutions to help them grow and trade more. We will work with MOL Logistics to leverage their strengths and expertise in logistics and cross-border fulfillment, to grow our services and network of businesses we serve,” said Mesh Alloys, founder and CEO of Sendy.

The coming together of Sendy and MOL paves the way for synergies that will simplify logistics for business. MOL will partner with Sendy to provide its customers in shipping and freight with additional mid-mile and last-mile services.

“We were very specific in choosing to invest in Sendy because of the solution that they offer; we share a common goal. We all want to democratise logistics and support businesses in Africa to move their goods reliably and affordably. We look forward to an exciting partnership with Sendy as we forge this joint mission. We endeavour to work with partners with innovative ideas like Sendy through creating synergies and collaborations that will generate value,” said Takuya Sakamoto, representative of MOL PLUS.

Next to bite the dust was 54gene, a genomics research company that had raised US$45 million across three funding rounds. It was revealed last month that it had started winding down its operations. 54gene, which has had three CEOs in the last 12 months, said it “could not continue to operate financially”. See the trend?

Wahala be like wetin again? After $46 million & three CEOs within one year, they still kaput?

The biggest problem I have with Fintechs in Africa is that they seem to oversimplify the problems and believe that African problems can be solved with Western ideas.
The only Fintechs I know apart from Flutterwave in Nigeria are Loanapps,the Loanapps in Nigeria can never survive in Western countries because over there they are regulated and consumer focused society.
Most financial institutions in Nigeria love this emergency Fintechs because they do a lot of under the table deals with them
In Kenttimo Limited,we are working on a project that will change and revolutionize the way property is documented in Africa using Nigeria as a launchpad
Like I said, solving African problems using local solutions with a global outlook
If you are interested,click this link and purchase our product.The revolution will start from here:
https://www.nairaland.com/7905627/introducing-strongtower-estate-ode-omi#126875204

Well said! Wishing you all the best with your Tech Solutions!

Faiththatworks:
The biggest problem I have with Fintechs in Africa is that they seem to oversimplify the problems and believe that African problems can be solved with Western ideas.
The only Fintechs I know apart from Flutterwave in Nigeria are Loanapps,the Loanapps in Nigeria can never survive in Western countries because over there they are regulated and consumer focused society.
Most financial institutions in Nigeria love this emergency Fintechs because they do a lot of under the table deals with them
In Kenttimo Limited,we are working on a project that will change and revolutionize the way property is documented in Africa using Nigeria as a launchpad
Like I said, solving African problems using local solutions with a global outlook
If you are interested,click this link and purchase our product.The revolution will start from here:
https://www.nairaland.com/7905627/introducing-strongtower-estate-ode-omi#126875204

Kenyan B2B e-commerce startup Zumi closes after failing to secure funding.
Kenyan B2B e-commerce startup Zumi has closed down after failing to secure the necessary funding to continue operations.

Launched in 2016, Zumi began life as a female-focused digital magazine, before closing down and pivoting into e-commerce in 2020. The end-to-end marketplace connected retailers with suppliers and facilitated the entirety of a transaction between the two, including payments and logistics.

According to co-founder and CEO William McCarren, the startup achieved over US$20 million in sales, acquired 5,000 customers, and built a team of 150 people, but it is now set to close after failing to secure investment.

“The current macro environment has made fundraising extremely difficult, and unfortunately, our business was not able to achieve sustainability in time to survive,” he said.

Kune, a Kenyan food tech startup that delivered ready-to-eat meals at affordable prices, is closing down today, the company’s founder and CEO Robin Reecht announced.

In a statement posted to his LinkedIn page, Reecht cited a stifled economy and inflated food prices as circumstances that contributed to Kune’s closure. “With the current economic downturn and investment markets tightening up, we were unable to raise our next round. Coupled with rising food costs deteriorating our margins, we just couldn’t keep going,” he said.

The announcement comes just 4 months after the startup began its commercial operations at established meal centers around Nairobi. Around that time, Kune leadership also declared its intentions to raise $3.5 million in its second round of funding.

But while Kune was well-liked by its customers, the startup’s journey wasn’t without its fair share of controversy. Last June, Reecht faced the mighty lash of Kenyans on Twitter (best known as KoT) after he shared in a TechCrunch interview

that he was inspired to launch Kune after taking a trip to Kenya in November 2020 and having trouble finding affordable, ready-to-eat meals.
“After three days of coming into Kenya, I asked where I can get great food at a cheap price, and everybody tell [sic] me it’s impossible,” he said. “It’s impossible because either you go to the street and you eat street food, which is really cheap but with not-so-good quality, or you order on Uber Eats, Glovo or Jumia, where you get quality but you have to pay at least $10.”

Reecht, who is white and French, founded Kune just one month later.

Kenyans were aggrieved by his comments, and did not hesitate to voice their critiques. They argued that Reecht’s ability to secure funding so quickly was due more to his white privilege than his business plan, which some believed aimed to solve a nonexistent problem. Those discussions gave way to a larger conversation about white privilege and favouritism in tech, as well as Kenya’s neglect of its local founders.

In his statement, Reecht said that even though Kune had sold more than 55,000 meals and acquired more than 6,000 individual customers and 100 corporate customers since the start of the year, its $3 per meal price point wasn’t enough to sustain its growth.

Addressing Kune’s investors, he said, “Not only did you invest in Kune but you gave us your time, brain-width, connections, and emotional support. I am deeply sorry that Kune’s vision didn’t come true. To betray your confidence is something for which I will never forgive myself.”

NAIROBI, Kenya, April 20 – E-commerce platform Copia is exiting Uganda about a year after entering the market.

The decision, the startup says, was informed by the need to make profit and build a sustainable business model, among others.
It also attributes the exit to an array of external factors, such as an economic downturn and constrained capital markets, which are expected to persist.
Moreover, it will also be pausing its Africa expansion plans.
“To accelerate Copia’s drive to profitability, the company is pausing its Africa expansion plans and suspending its recently established Uganda operation during this period,” the firm said in a statement.
“This decision is consistent with many of the best companies in Africa and across the world, which are responding to the market environment and prioritizing profit.”
Copia entered the Ugandan market about a year ago, looking to grow its marketshare from its home base in Kenya.
It paid off in November last year after the startup opened a 24,000-square-foot facility in Kampala, covering 14 districts in the country.
It also doubled up as a key depot for the region.
“This highly focused approach will ensure that Copia is well positioned to pursue its pan-African ambitions with its proven formula for successful expansion, to serve the 800 million middle and low income consumers through the power of e-commerce.”
Copia Global provides e-commerce solutions for the rapidly growing 750 million middle-to-low-income African consumers through mobile applications, agent networks, and an innovative last-mile logistics system.

.” Another Kenyan retail-tech startup, MarketForce, is also facing challenges. The company raised US$40 million in funding in February of last year, back in the boom times, but stunningly, certain VCs that had committed funds backed out. In all, US$8 million of that capital was never wired. MarketForce has struggled to raise more capital, announced a bunch of layoffs, and recently turned to crowdfunding to get some cash in the bank.

Our prime focus is to offer an alternate gifting option for continental needs. Use Bigkoko Gift Cards.
Available in Nigeria, Rwanda, Uganda & Kenya.

Bigkoko:
Latest to bite the dust!
Zazuu, a London-based fintech that built a marketplace for African remittance companies and raised more than $2 million, has shut down, citing a lack of funding. Two fuvking million dollars!!!!

Zazuu, the fintech marketplace for cross-border payment networks in Africa that raised over $2 million from investors like Launch Africa and Founders Factory, has shut down after failing to raise funding. “We explored every option before making this decision,” the company said in a LinkedIn post announcing the closure.

Zazuu was founded by Nigerians;
Kay Akinwunmi (CEO),
Korede Fanilola (COO),
Tosin Ekolie (CTO), and
Tola Alade (CDO) in 2018.

They raised a $200,000 seed round from Launch Africa and ODBA in August 2021.

A year later, the company raised $2 million from Launch Africa, Founders Factory Africa, ODBA, HoaQ, Tinie Tempah, Jason Njoku, Babs Ogundeyi, and other angel investors.

Did anyone notice something? These guys simply took tribalism further, to running a company! They must think the Brits who allows the Indians & others to run their country must be fools who have no Englishmen capable enough to be PM.

As for Zazzu, tribalism killed the promising LLC. Say NO to tribalism!

So how the heck is Bigkoko Group Inc. managing to stay in business when many others are going bust? Not only were we able to hold our head above water, we were also able to launch a branch in Sweden, thus providing a veritable bridge between Africa and mainland European. By 2nd quarter 2024, we hope to launch another branch in New York City USA!

So far, the MD/CEO has committed over $50k of personal funds to see this up.

Bigkoko Group Inc. building African most successful Startup!

How did tribalism killed the company?

Can you substantiate that assertion? There are companies with major stakeholders coming from same ethnicity by design or by circumstance that are still succeeding despite all odds, some are even family business. While there are others with people from different ethnicities, nonetheless still failed.

If all your argument is because they are all from same ethnicity, that certainly is not a convincing argument. If you have other possible reasons you believe could be responsible, then let us have it.

No one or business is immuned from challenges and bankruptcy, we all pray to reap our sweat.

Waiting to hear more from your perspective as per the real reasons they "failed"

I agree with you that no business is immune from challenges & bankruptcy, however there is more that meets the eye. As i do not know you or what this information might mean to you or against Zazzuu, i will just leave it at this. If you like accept it, if you like don't. No be for my mouth you go hear how tribalism kill Zazzuu.
They have winded down operations & over 2 million quids has gone to swim with the fishes. Na here we dey now!

page9:


How did tribalism killed the company?

Can you substantiate that assertion? There are companies with major stakeholders coming from same ethnicity by design or by circumstance that are still succeeding despite all odds, some are even family business. While there are others with people from different ethnicities, nonetheless still failed.

If all your argument is because they are all from same ethnicity, that certainly is not a convincing argument. If you have other possible reasons you believe could be responsible, then let us have it.

No one or business is immuned from challenges and bankruptcy, we all pray to reap our sweat.

Waiting to hear more from your perspective as per the real reasons they "failed"

Opari exit Payday, welcome Bitmama!

Payday, fintech backed by Moniepoint, is in talks to be acquired by BitMama, a Nigerian crypto exchange startup, three months after Tech Cabal exclusively reported that Payday was speaking to potential buyers.

What a year 2023 was indeed. A grave yard for Tech companies!

The Mantra should be "Use Local" Patronize Local"

One year old Pivo, a Nigerian Startup backed by Y-Combinator, which raised $2 million has shut down!
Pivo offers banking services to Nigerian customers.

2023....was indeed a graveyard for African Fintech!

At the End, only Bigkoko Group Inc. and that Nigerian Fintech with a money laundering history in Kenya will remain!

Bigkoko ~ Your Local Tech Company!