Funder likes and funding gaps force African startups to be “foreign local firms.”
The statement above might come off as profound stuff, possibly from some deep thinker or revered speaker in a panel discussion at a conference in Cape Town, or on Clubhouse. Except that it’s not.
Full Disclosure: Those words actually form the title of one of the many hard-hitting pieces that were published on WeeTracker last year.
In a nutshell, that story probed a popular trend that sees Africa-based startups choosing to have roots that can be traced all the way to countries outside Africa and outside their areas of operation; like the U.S., the U.K, Singapore, Hong Kong, Germany, Cayman Islands, Luxembourg, or Dubai.
Or even Mauritius, which happens to be the one African nation with that kind of pull.