What’s on Goodwell’s radar? - August 2025
Currency depreciation, founders’ insights, shifting markets, and making practical impact on the ground; what articles sparked the most conversation in among the Goodwell team this month?
How can Africa’s startups thrive in the face of uncertainty?
Currency fluctuations and devaluation are, unfortunately, an unavoidable risk for many investments in Africa. The continent’s tech startups, in particular, are feeling the effects of perceived volatility and remain vulnerable to impacts of global uncertainty and rising interest rates. After the investment slump of 2024, capital is cautiously re-entering the African market, with investors particularly drawn towards fintech, cross-border payments, and climate resilience. Disrupt Africa took a closer look at how Africa’s startups could grow this momentum to build independence from externally driven capital cycles.
Facing the realities of African entrepreneurship
One such casualty of currency depreciation was Okra, a pioneering Nigeria-based fintech company. When its closure was announced earlier this summer, it set off alarm bells for fintech investors and founders alike, while providing valuable lessons for those left standing in its wake. This Afridigest panel – which includes Okra founder, Fara Ashiru – quickly made its way around our team chat. A candid discussion, these panellists generously share their stories of, and insights on, the realities of African entrepreneurship.
The shifting investment landscape of Q2
With that in mind, we found ourselves reading this TechNext24 piece with a sense of determination: while South Africa is leading the continent’s rebound in investment capital, another of our focus markets, Nigeria, is having a tougher time so far this year. Nigeria accounts for just 8.7% of the total $300 million equity funding in Africa in Q2 of 2025. South Africa, on the other hand, took 32% of that $300 million. Are these trends going to continue?
Making practical impact on the ground
Looking up from the balance sheet is, of course, central to impact investing. Tobi Obasa, co-founder of our portfolio company Haul247, recently gave a wonderfully transparent interview on the daily logistics challenges happening across Africa. With transport accounting for as much as 60% of a product’s final cost in parts of the continent, making haulage more efficient has hugely beneficial, immediate impacts on day-to-day life. A worthwhile and illuminating read – and a confirmation of why we invested in Haul247 in the first place!