Flourish Ventures, an early-stage VC firm with a purpose, just released a survey on founder wellbeing across Africa.
Titled Passion and Perseverance: Voices from the African Founder Journey, the survey, conducted with partners like Endeavor and Launch Africa, captures insights from over 160 founders in 13 countries.
It shines a light on the emotional demands founders face—and the urgent need for better support across the African startup ecosystem.
The Big Picture
Despite a love for the journey—81% of founders enjoy the role, and nearly two-thirds would do it again if their startup fails—most experience high levels of stress and burnout.
Yet, few openly discuss these challenges, exposing a crucial gap in founder support across the continent.
Key Takeaways:
- High Pressure, High Purpose: African founders are resilient and passionate, but 86% report a negative impact on their wellbeing. Anxiety (60%), stress (58%), burnout (52%), and even depression (20%) are common, affecting even those with “thriving” startups.
- Economic Stressors: Founders cite global and local economic instability as top stress drivers. Fundraising (59%), inflation (44%), and macroeconomic challenges (40%) rank as major stressors, adding to an already challenging journey.
- Alone at the Top: Loneliness is pervasive, with 78% agreeing it’s a solitary job and only 14% feeling fully open about their struggles. Those who rely on personal relationships, exercise, and healthy habits report higher wellbeing, underscoring the value of community and self-care.
- Investor Disconnect: The founder-investor relationship often intensifies stress. Only 17% of founders feel comfortable opening up to investors, and just 11% feel their investors care about their wellbeing. Founders crave investors who offer more than capital—trust, respect, and realistic expectations matter just as much.
The Bottom Line
Founder wellbeing is closely linked to startup success, yet African founders often lack the support systems they need. As the VC ecosystem in Africa matures, fostering founder resilience should become a strategic priority.
“Our hope,” said Flourish’s Efayomi Carr, “is that this research sparks a deeper conversation on building a healthier, more sustainable startup culture.”
Read the full report for insights from founders like those of FairMoney and Flutterwave, and learn about Flourish’s African investments here.
