Prioritizing Founder Wellbeing: A Strategic Imperative For Startup Success in Africa

Africa is home to a rapidly growing startup ecosystem, where early-stage founders, investors, accelerators, and other stakeholders are propelling innovation and growth across the continent.

While the motivation and drive of entrepreneurs are high, these founders face immense pressure as they navigate a fast-paced and often grueling environment. They contend with macroeconomic challenges, long working hours, and high stress, making it clear that focusing on resilience and wellbeing is not just important for their personal lives, but essential for the long-term success of their businesses.

Despite the increasing importance of mental health and resilience, the well-being of founders has not been widely discussed or researched. In a bid to provide the first large-scale data on founders’ wellbeing across Africa, Flourish, an early-stage global venture capital firm carried out a recent survey, which gathered responses from over 160 startup founders across 13 African countries. This groundbreaking research highlights the experiences of early-stage entrepreneurs and brings to light the significant pressures they face.

In the survey, high-performing founders reveal that they face intense pressure. Surprisingly, 76% of founders with thriving startups reported a negative impact on their well-being. Most of the startups’ growth milestones, while celebrated, often amplify stress due to increased competition and scrutiny.

It is interesting to note that the African startup environment is shaped by global economic shifts and local volatility. Inflation, particularly in countries like Nigeria and Egypt, exacerbates the inherent difficulties of entrepreneurship. In Nigeria, 66% percent of founders listed inflation as a top stressor, while Egypt accounted for 57%.

Facing global economic shifts and local volatility, these founders are navigating a landscape fraught with stress and uncertainty.

“The external stressors factors largelyoutside our control are big contributors to stress and burnout for most entrepreneurs. As an investor, I try to help my founders focus on what they can control and let go of what they cannot.” lyinoluwa Aboyeji Co-founder, Andela & Flutterwave

The top three sources of stress come from external challenges, which include raising funds, inflation and currency devaluation, and other macroeconomic challenges. Other stressors are company management, Co-founder relationships, and investor relationships. Female founders face additional stressors, including loneliness, work-life balance challenges, and fear of failure.

Although founders often rely on family and friends for emotional support, these relationships lack the professional insights needed to address business-specific challenges. Many founders hesitate to discuss their struggles with peers or mentors, leading to isolation and further compounding their stress. Therapy offers a valuable avenue for addressing stress, but barriers such as cost, time, and access prevent many entrepreneurs from seeking professional help. This highlights a critical opportunity for investors and stakeholders to reduce these obstacles and encourage healthier conversations around mental well-being.

Furthermore, founders revealed that despite constant social interactions, they are very lonely. 78% of founders say being a founder is a lonely job. They often feel the company’s weight rests solely on their shoulders. To keep their teams’ morale and productivity high, they don’t feel they can speak openly about their business concerns and stressors.

Therapy can be a valuable resource for founders, helping them identify core stressors and develop effective coping strategies, but many entrepreneurs refrain from seeking professional support. Access to, the right therapist can present an obstacle, as it often requires time and financial resources which both tend to be scarce for founders. Despite the growing recognition of the benefits of therapy and coaching, many founders still face stigma within their communities, with 50% reporting negative perceptions around seeking help from, a therapist or counselor.

Resilience the ability to bounce back from adversity is a hallmark of successful entrepreneurs. However, unchecked stress can harm both personal health and business outcomes. Founders must identify personalized coping strategies to maintain their mental health and sustain high performance.

Notably, the survey revealed that Investors also play a pivotal role in the well-being of founders. While they provide essential funding and strategic guidance, their expectations often become a significant source of stress. Most founders perceive their investors as a significant source of stress rather than support. While investors provide important financial resources and strategic insight, founders may struggle to manage investor expectations and pressures.

This creates an environment where founders are hesitant to have open conversations with their investors. Fewer than 2 in 10 founders are completely comfortable having an open conversation with their investors, and only 1 in 10 believe investors truly care about their wellbeing. 41% of founders believe that investors don’t care at all about their wellbeing, or that they only care when it affects their returns.

To foster a healthier relationship, founders seek investors who:

Engage constructively and get to know them as individuals.

Avoid unrealistic demands and offer transparency around funding decisions and timelines.

Founders value a comprehensive support system from investors that goes beyond financial backing. Resources like leadership training, co-founder coaching, and well-being programs help entrepreneurs navigate challenges, build resilience, and strengthen community ties.

The African startup ecosystem continues to evolve, and the importance of prioritizing founder wellbeing cannot be overstated. By creating an environment that acknowledges and supports mental health, stakeholders can ensure the long-term success of founders and their ventures.