Why even well-funded startups struggle
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Nairobi, Sept. 21 -- Last week, certain news sent ripples through the burgeoning startup ecosystems in Kenya. It revealed that eight well-funded startups were facing significant challenges.
This revelation surprised a nascent market such as Kenya, which had not been accustomed to witnessing such a phenomenon.
It prompted many to ponder a question repeatedly asked in startup communities worldwide: Why do well-funded startups fail?
While the Kenyan Government has shown responsiveness to startups, external factors such as inflation and currency fluctuations can harm their operations. This could explain why companies such as Twiga actively cut operational costs to weather the financial storm.
To maintain competitiveness against global gia...
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