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Meet the "Unprofitables"?🚴🏼‍♂️🤷🏽‍♀️

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Fri, Feb 17, 2023 05:50 PM

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Issue #139: Tech startups and scale-ups in the logistics sector might have figured out fast deliveri

Issue #139: Tech startups and scale-ups in the logistics sector might have figured out fast deliveries. But profit? Not so fast.                                                                                                                                                                                                                                                                                                                                                                                                                 [Open in app]( or [online]() [Meet the "Unprofitables"?🚴🏼 ♂️🤷🏽 ♀️]( Issue #139: Tech startups and scale-ups in the logistics sector might have figured out fast deliveries. But profit? Not so fast. [VENTURES AFRICA]( Feb 17   [Save]()   Hello Venturer, How did your week go? If you’re reading from Nigeria, I already know it was eventful, to say the least. Queues at fuel stations are not getting any shorter, fuel is not getting cheaper, and in the last few weeks, we’ve all become experts in economics, thanks to the CBN. Do you know who else is having a hard time? The logistics market. But no, it’s not simply because of fuel scarcity. It costs $4,000 to move a 40-foot container from Shanghai to Lagos, Nigeria. Yet, somehow, it costs the same $4000 to move the same container from the seaport in Apapa to Lagos mainland, a 20km trip. Who makes a profit in that kind of market? Well, so far, not the tech bros in the game. This week, we explored how tech-enabled firms like Gokada and Sendy have been scrambling for elusive profits in the logistics market. These firms might have gotten a massive customer base by making quick deliveries to their doorsteps. But as Yvon Chouinard says, “Profit is what happens when you do everything else right.” Oluwatosin Ogunjuyigbe Staff Writer, Ventures Africa. Thank you for reading VA's Newsletter. This post is public so feel free to share it. [Share]( [Leave a comment]( What’s new? [The ride to profit is bumpy for Nigerian tech-enabled logistics startups]( The last few months have been tough for Nigeria's logistics sector. But even more notable is the streak of worrisome updates from tech-enabled players like Gokada, who are struggling to ride their way to profit. [Read more](. [Share]( [Some market trends shaping Africa’s informal retail sector]( Africa’s informal retail sector is experiencing rapid growth. It now accounts for up to 80% of total retail sales in some countries, contributes $2.6 trillion to the region’s nominal GDP, and drives $1 trillion in annual sales. Here are some notable tech trends driving its growth. [Read more]( [Why the CBN went head-to-head with the Supreme Court over the cash swap deadline]( February 10th (Friday) was the CBN’s final deadline for Nigerians to swap old banknotes for new ones. But a contention between the apex bank and the Supreme Court— the highest court in Nigeria— has lingered after the latter passed a ruling to stall the deadline. [Read more](. [Share VA's Newsletter]( [How megaprojects are changing the face of the real estate market in Ibeju-Lekki]( The Bar Beach in Lagos was once famous for being the execution site of notorious criminals like Lawrence Anini and Dr Oyenusi. But through a series of megaprojects, its surrounding environment has rebranded into one of the most in-demand real estate markets in Nigeria. [Read more]( [Amidst towering poverty levels, elections in Nigeria remain expensive]( Nigeria’s poverty levels have spiked, with 133 million residents living in multidimensional poverty. Meanwhile, the country is on track to conduct its most expensive election ever. [Read more](. [Meta’s next legal loss might come from Africa]( Just last December, Meta agreed to pay $725 million after losing a class-action lawsuit that claimed it gave third parties access to user data without their consent. And now, the social media giant is in hot water again, this time in Africa. [Read more](. [Pledge your support]( [How Nigeria’s new carbon tax policy can expedite its economic and environmental growth.]( The effects of climate change in Nigeria and Africa are no longer abstract but a lived reality. Sea levels are rising, inundating their banks and destroying lives and properties, and intense droughts are leading to widespread food insecurity across the continent. How will a carbon tax policy intervene? [Read more](. [My Pivot Journal: Victor Otubor’s journey to becoming a Lagos photographer](. Making a career switch is not a decision that is easy to make, sometimes. But for Victory Otubor, switching from his administrative role in a big medical supplies outfit in Lagos to photography was an adventure worth the risk, one he savours with every click and shutter. [Read more]( [From a Nobel prize to a spate of conflicts: How Ethiopia’s conflicts reimaged Abiy Ahmed’s regime]( Abiy Ahmed was the proverbial apple of Africa’s eyes when he became Ethiopia’s Prime Minister in 2018 at the age of 41. The future looked promising for the young African leader until a spate of internal conflicts began to taint his admirable regime in 2018. [Learn more](. [Kenya is making giant strides to be Africa’s EV hub]( For a while, Kenya has been an active player in Africa’s renewable energy space. And now, it wants to take on South Africa to become the continent’s home for electric vehicles (EVs). [Learn more](. [ICYMI: A state of disaster, a $3 billion ecosystem and Zimbabwe’s new oil money]( Last week, South Africa’s president declared a “national state of disaster” due to ongoing power outages that have disrupted the country, while Zimbabwe discovered large oil and gas reserves in the northeastern part of the country. Also, we found out that investment in Africa’s tech startup ecosystem passed the $3 billion mark for the first time in 2022. [Learn more](. Holiday Jollof Read our [special holiday issue]( on the events, businesses, people, and policies that impacted Africa in 2022. Click the image below to read. #VANUGGET VA's Newsletter is free today. But if you enjoyed this post, you can tell VA's Newsletter that their writing is valuable by pledging a future subscription. You won't be charged unless they enable payments. [Pledge your support](   [Like]( [Comment]( [Share](   Read VA's Newsletter in the app Listen to posts, join subscriber chats, and never miss an update from VENTURES AFRICA. [Get the iOS app]( the Android app]( © 2023 VENTURES AFRICA 548 Market Street PMB 72296, San Francisco, CA 94104 [Unsubscribe]() [Start writing]()

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