The original business model at Paniel Meat Processing was for 100% of the animals to be raised by Rwandan smallholder farmers. The “high class” problem in the last year is that demand increased so quickly that the only reasonable path was to build out some in-house animal production, starting with chickens. A hatchery for day-old chicks, six chicken houses, and an abattoir. Enough...
December 3, 2024 – Africa Eats (EATS) is the latest company to list on the Stock Exchange of Mauritius (SEM), along with two of our bizi: Ziweto (ZWTO) and Paniel Meat Processing (ELIT). These three companies are the first three listings on the SEM X, a new segment on the SEM’s Official Market for high-growth, profitable companies. A segment designed to help companies with a history...
The GDP per capita metric is helpful to gauge the level of economic development within a region, but misleading in that the metric gets skewed by extraction-based industries like mining and oil (which is why Botswana, Namibia, and Gabon) are higher than their neighboring countries). Visual Capitalist has published a map of the per-capital GDPs of most of the African nations (in most cases rounded...
Luni and Jumaane, the co-founders of Africa Eats have published a book, “Berkshire Africa” that explains how our unique investment company has applied the learnings of venture capital, business accelerators, and Berkshire Hathaway toward solving hunger and poverty across Africa. We’ve explained this before, in brief, but now have a 160-page book with far more details, including...
Over half of all working age Sub-Saharan Africans work in agriculture. More than 1/3rd in Nigeria, the most populous country. 1/3rd in Kenya. Even 19% in South Africa, despite its head start development. As a comparison, less than 2% of Europeans and less than 2% of Americans work in agriculture. The contribution of agriculture to GDP disproportionate, but that is an artifact of the way GDP is...
Gertrude Matche of Diversity Connector talked with Luni Libes, Africa Eats’ co-founder/CEO about the challenges of solving hunger and poverty in Africa, and the path Africa Eats has taken to impact those pressing issues… as a for-profit investor.
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It’s almost time for Africa Eats’ annual “Gathering”, where all of the bizi founders fly to Nairobi for two days of facilitated discussions including a deep dive into building the missing business infrastructure for African SMEs, including a plan to unlock the capital markets. This event is unlike any other we know of. It is the day after Sankalp, but far more interactive...
It’s quite rare when the U.S. media has something nice to say about Africa. This week was an exception, in The New York Times, in an interactive digital article about the population growth and economic growth of the African continent. The median age in Africa here in 2023 is just 19 years old, nearly a decade younger than in India and the rest of South Asia. By 2050, more than 1/3rd of all...
Which sounds and feels biggest? $2.83 million per month $8.5 million per quarter $34 million per year Back in mid-2020, when Africa Eats was founded, we were touting total aggregate revenues across the whole portfolio of companies as $7 million. That was the actual revenue earned by the “bizi” in 2019. In the three months of Q2 2023 (April-June), the bizi earned $8.5 million. That is...
Venture capital and angel investing are realms filled with unspoken assumptions. One such assumption is that companies should burn through substantial capital before even considering profitability. This notion is misguided! Countless startups, often overlooked by these investors, are compelled to be profitable to survive. If these investors took a moment to recognize these startups, they would...