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Firt published 07 July, 2024
Unfortunately, startups that go into administration are basically deadTheres a dark joke circulating in the Kenyan startup scene right now that once a startup enters administration, which is technically a form of bankruptcy, it will never recover. The end usually involves administrators selling off assets to repay creditors, leaving founders with nothing but a series of explanations to make.
Few companies in Africa emerge from administration, I have been told by over five industry experts.
But is this always the case? What leads to such failures, especially when founders have poured their heart and soul into the product and survived increasingly cautious investors demanding rigorous due diligence?
