From Scarcity to Scale

Africa does not only need more capital. It needs investment frameworks built for the realities of African markets.In this episode of From Scarcity to Scale, Daniel Maloba speaks with Tomi Davies, one of Africa’s most experienced angel investors and a leading voice in the continent’s startup ecosystem, about what happens when venture principles travel but the assumptions underneath them do not.The conversation explores the difference between Silicon Valley’s venture model and African operating environments, why culture and mindset shape entrepreneurship, how education systems influence the quality of future founders and investors, and why intergenerational knowledge transfer matters for long-term economic development.Tomi also breaks down his POEM framework — Proposition, Organisation, Economics and Milestones — for assessing whether a startup is genuinely investment-worthy, and reflects on the journey from building ventures to investing in them.But the deeper question is about Africa’s path to scale.If African founders, investors and institutions simply copy models developed in very different environments, they may reproduce the visible structures of successful ecosystems without reproducing the conditions that made those structures work.This episode is about separating universal principles from local assumptions, understanding what investors should actually look for, and thinking more carefully about how Africa can move from scarcity to sustainable growth.From Scarcity to Scale is a podcast about building and backing enduring ventures in Africa.Because scarcity changes the rules.Build from reality. Build to last.Chapters01:33 Introduction and context of Africa's unique challenges03:41 Silicon Valley model vs. African ecosystems06:21 Universal principles and cultural assumptions in investing11:56 The importance of mindset and intergenerational transfer17:32 Changing education systems for the future23:13 Innovative approaches to learning and technology29:07 The role of culture and mindset in economic development35:45 The POEM framework for startup success39:16 Investment journey and key milestones43:54 Africa's path from scarcity to growthFollow Tomi DaviesLinkedIn: https://www.linkedin.com/in/tomidee/Diaglocal: https://www.diaglocal.com/Pre-order the book — From Scarcity to Scalehttps://forms.gle/ZzFWzWSKT5EwsE5Z7Follow Daniel MalobaLinkedIn: https://www.linkedin.com/in/danielmaloba/Listen to From Scarcity to ScaleYouTube: https://www.youtube.com/channel/UCe0SB5ONEzZudf_R2BXC_-ASpotify: https://open.spotify.com/show/033MvCMApple Podcasts: https://podcasts.apple.com/us/podcast/from-scarcity-to-scale/id6789160442If you enjoyed this episode, please subscribe to the channel, like the video, and share it with someone interested in African startups, venture capital, investing, entrepreneurship, startup ecosystems, or building enduring companies on the continent.It makes a big difference for a growing channel and helps these conversations reach more people.#FromScarcityToScale #TomiDavies #AfricanVC #VentureCapital #AfricanStartups #AfricanInvestors #StartupInvesting #Entrepreneurship #InvestingInAfrica #VentureBuildingMusic licensed through Soundstripe.Code: CULP5Q3W8ZRZWLDT, VAXVENWSFXBY4JIN

Yuha Jin has spent more than a decade building businesses connected to Africa, moving between Korea, East Africa and the wider global startup ecosystem. Her experience gives her a rare perspective on what changes when founders and investors operate in African markets rather than in the conditions that produced the Silicon Valley venture model.In this episode, we discuss what Yuha learned from building TELLA, creating hundreds of jobs across East Africa, navigating cultural differences, raising capital, working with government-backed startup ecosystems and coaching African founders.We also explore why Africa is not a smaller Silicon Valley, which startup principles remain universal, which assumptions break under different market conditions, why grant dependency can create “zombie businesses”, how trust shapes business relationships, and why investors may need different capital models and exit expectations when investing on the continent. Pasted text Pasted textLater in the conversation, Yuha reflects on South Korea’s economic transformation and what African economies can learn from its investment in human capital, entrepreneurship, industrial capability and coordinated resource allocation — without assuming that African countries should simply copy Korea. Pasted textChapters00:56 Introduction to Africa's Tech Landscape06:04 Yuha Jin's Entrepreneurial Journey10:54 Africa vs. Silicon Valley: A Comparative Analysis15:33 Principles and Assumptions in Startup Ecosystems20:19 Funding Challenges in African Startups21:42 The Role of Government in Startup Ecosystems26:10 Navigating Funding Challenges in Startups30:58 Trust and Business Relationships in Africa36:19 Lessons from Korea's Economic Transformation52:35 Key Takeaways and Future CollaborationsConnect with Yuha JinLinkedIn:https://www.linkedin.com/in/yuhajin/Email:[email protected] with Daniel MalobaLinkedIn:https://www.linkedin.com/in/danielmaloba/From Scarcity to ScaleYouTube:https://www.youtube.com/@FromScarcitytoScaleFrom Scarcity to Scale explores how founders and investors build in markets where the assumptions behind conventional startup and venture capital playbooks do not always hold.The podcast also contributes to the research behind Daniel Maloba’s forthcoming book, From Scarcity to Scale: Building and Backing Ventures in Africa.Music LicenceMusic licensed through Soundstripe.Code: 2TBWZK9LD7A1IQGR, NXIAWGRDVP3CSNRZ#FromScarcityToScale #YuhaJin #AfricaBusiness #AfricanStartups #AfricanEntrepreneurship #SiliconValley #StartupEcosystem #VentureCapitalAfrica #InvestingInAfrica #KoreaAfrica #EmergingMarkets #StartupFunding #AfricanFounders #Entrepreneurship #BuildingInAfrica

In this episode of From Scarcity to Scale, I speak with Sabrine Chennaoui, founder of MONSAPO, about what it takes to build a circular-economy hardware company from Tunisia.Sabrine started MONSAPO from her kitchen, producing natural cleaning products from used cooking oil. The business later evolved into SapoCircle, an automated system that enables hotels and other commercial customers to turn used cooking oil into professional cleaning products on site.We discuss customer trust, competing with better-funded businesses, the shift from cleaning products to hardware, funding deep tech in Africa, prototyping, regulation, international incorporation, expansion strategy and what creates a defensible moat.Sabrine also explains why founders should focus less on selling the sophistication of their technology and more on the outcome the customer is actually buying.Chapters00:25 Introduction to Sabrine Chennaoui and MONSAPO02:04 The Journey of Entrepreneurship: From Kitchen to Business04:24 Overcoming Challenges and Competitors07:09 Building Trust and Community Engagement11:12 The Shift from Cleaning Products to Hardware Solutions17:59 Navigating the Hardware Landscape in Africa23:13 Challenges in Hardware Startups27:17 Investment Landscape for Deep Tech30:31 Navigating Regulations and Market Dynamics34:40 Expansion Strategies and Market Focus37:16 Building a Competitive Moat38:10 Empowering the African Startup EcosystemConnect with Sabrine ChennaouiLinkedIn: https://www.linkedin.com/in/sabrinechennaoui/Learn more about MONSAPOWebsite: https://monsapo.com/Connect with Daniel MalobaLinkedIn: https://www.linkedin.com/in/danielmaloba/From Scarcity to ScaleYouTube:    / @fromscarcitytoscale  Spotify: https://open.spotify.com/show/033MvCM...Apple Podcasts: https://podcasts.apple.com/podcast/id...Book pre-order: https://forms.gle/ZzFWzWSKT5EwsE5Z7Music LicenceMusic licensed through Soundstripe.Code: A4QCUUUERHGGYJGL#FromScarcityToScale #SabrineChennaoui #MONSAPO #CircularEconomy #UsedCookingOil #DeepTech #HardwareStartup #ClimateTech #AfricanStartups #Entrepreneurship #Tunisia #AfricanInnovation

What does it take to build agritech that works in the realities of farming — not just in a pitch deck?In this episode of From Scarcity to Scale, Daniel Maloba speaks with FG Adriaanse, Co-Founder of Adagin Technologies, about building precision agritech from the farm up.FG shares how Adagin started with a simple grape-picking harness designed to solve a real labour-efficiency problem, then evolved into a broader “plant to pallet” system spanning smart scales, RFID, traceability and farm operations. The common thread is deliberately simple: technology should fit into the farmer’s existing workflow rather than create more work.The conversation explores one of the hardest questions in hardware entrepreneurship: how do you know whether you are solving a real problem before spending heavily to build the product?FG talks candidly about rapid prototyping, asking customers to pay, learning from rejection, co-founder dynamics, profitability, raising capital, and why founders need to distinguish between “vitamins” and genuine painkillers.They also discuss what happens to startup moats as AI makes software dramatically easier to build. FG argues that the defensibility of an agritech business increasingly sits beyond the code: hardware, distribution, logistics, installation, after-sales service, domain expertise and the trust required to operate in a tight agricultural market.It is also a conversation about the less glamorous work of company building — cash flow, operations, accountability, culture and making sure customers are willing to keep paying.At the centre of it is a question that runs throughout From Scarcity to Scale: when resources are constrained, what should founders build, what should they ignore, and what actually creates an enduring advantage?Scarcity changes the rules. Build from reality. Build to last.

What happens when African corporates say they want innovation — but still treat startups as a risk?In this episode of From Scarcity to Scale, Daniel Maloba speaks with Nada Shaheen, Founder and Managing Director of GB Ventures, the corporate venture capital arm of GB Corp, about what it really takes to build corporate venture capital in Africa.Nada explains that CVC is not simply corporate money invested into startups; it is meant to create strategic value through access to customers, expertise, partnerships and the parent company’s broader capabilities.The conversation explores why more African corporates are not backing startups, how Nada had to educate and convince GB Corp before a CVC model could even exist, and why building trust between startups and corporates often requires someone who can interpret the language of both sides.Daniel and Nada also test a broader question behind the From Scarcity to Scale book: Africa is not a smaller Silicon Valley.Using the conventional CVC playbook as a reference, they discuss long-term thinking, tolerance for failure, venture talent, independence, incentives, and whether global CVC principles need to be redesigned around African realities. Nada argues that in Egypt, one of the first challenges is often not how to run CVC, but convincing corporates that they need it at all.The episode also examines what CVC success actually means, why strategic alignment matters, how corporates can support startups without over-controlling them, and whether Africa needs more local corporate capital to build a more self-sufficient venture ecosystem.

Mark Kleyner is the co-founder and co-CEO of Dream VC, an Africa-focused venture capital institute and ecosystem platform helping train and connect the next generation of investors across African and emerging markets.In this episode of From Scarcity to Scale, Mark explains how venture capital really works — from the role of VCs, LPs and GPs, to fund mandates, limited partnership agreements, return expectations, power laws, and why many founders misunderstand how investment decisions are made.But this conversation goes beyond the mechanics of VC.Mark argues that Africa does not only need more startup funding. It needs better capital, stronger investor talent, deeper fund-building capacity, and more local and corporate participation in the venture ecosystem.We explore why African startups receive a small share of global VC funding, why many African-focused investors historically came from outside the continent, how Dream VC is building investor capability, and why corporate venture capital could become one of the most important sources of new capital for African startups.This episode is a deep dive into the other side of the startup equation: not only who builds the companies, but who builds the investors capable of backing them.From Scarcity to Scale is a podcast about building and backing enduring ventures in Africa.Because scarcity changes the rules.Build from reality. Build to last.---Follow Mark Kleyner:https://www.linkedin.com/in/markkleyner/Dream VC:https://www.dream-vc.com/Pre-order the book — From Scarcity to Scale:https://forms.gle/ZzFWzWSKT5EwsE5Z7Follow Daniel Maloba:https://www.linkedin.com/in/danielmaloba/---Listen to From Scarcity to Scale:Spotify: https://open.spotify.com/show/033MvCMpADBiJkCFvzOvT3Apple Podcasts: https://podcasts.apple.com/podcast/id6789160442If you enjoyed this episode, please subscribe to the channel, like the video, and share it with someone interested in African venture capital, startups, investing, fund building, or entrepreneurship.It makes a big difference for a growing channel and helps these conversations reach more people.#FromScarcityToScale #MarkKleyner #DreamVC #AfricanVC #VentureCapital #AfricanStartups #AfricanInvestors #VentureBuilding #StartupFunding #InvestingInAfrica

Cecil Senna Nutakor is the founder and CEO of eCampus, a Ghanaian edtech company helping people measure, analyse, and predict readiness for exams, employability, and compliance.In this episode of From Scarcity to Scale, Cecil shares his journey as a founder, father, non-conformist, and education entrepreneur.This conversation goes beyond edtech. It explores parenting, education, applied knowledge, entrepreneurship, and why founders should become obsessed with the problem before falling in love with the solution.Cecil’s story is a powerful example of how African ventures are often born from lived experience and institutional gaps. Where systems fail to provide clarity, founders build tools. Where education does not fully recognise potential, entrepreneurs create new ways to measure readiness.From Scarcity to Scale is a podcast about building and backing enduring ventures in Africa.Because scarcity changes the rules.Build from reality. Build to last.---Chapters00:00 Introduction and Cecil Nutakor’s Background02:04 The Importance of Understanding the Problem04:00 From Exam Frustration to Building eCampus07:53 Education, Skills and Entrepreneurship11:58 Identifying Passion, Skills and Career Direction16:03 Entrepreneur vs Enterprising Person20:00 Solving Problems at Scale24:05 The Origin Story of eCampus28:08 Advice for African Tech Founders30:59 Problem Immersion and Flexibility32:07 Closing Thoughts---Follow Cecil Senna Nutakor:https://www.linkedin.com/in/cecilnutakor/eCampus:https://ecampus.camp/Pre-order the book — From Scarcity to Scale:https://forms.gle/ZzFWzWSKT5EwsE5Z7Follow Daniel Maloba:https://www.linkedin.com/in/danielmaloba/---#FromScarcityToScale #CecilNutakor #eCampus #AfricanStartups #EdTech #AfricanEntrepreneurship #VentureBuilding #EducationTechnology #Ghana #AfricanInnovation

Biotech founder Wessel Myburgh reveals what it really takes to build African deeptech with limited resources and why founders on the continent often have to make “champagne on a beer budget.”Wessel is the co-founder and CEO of Urobo Biotech, a South African biotech startup developing biological recycling technologies for bioplastics. Urobo is working on enzymatic and microbial processes that break down used bioplastics and convert them into higher-value products, including chemical products, biogas, and green energy.In this episode of From Scarcity to Scale, Wessel speaks about the reality of founder life, the funding gap facing African deeptech startups, the challenge of moving from university research to commercialisation, and why African founders often build with a level of grit and resourcefulness that global investors underestimate.This conversation also explores co-founder dynamics, investor bias, the pressure of fundraising, and why founder well-being matters when the company depends so heavily on the person building it.From Scarcity to Scale is a podcast about building and backing enduring ventures in Africa.Because scarcity changes the rules.Build from reality. Build to last.Chapters00:00 The Reality of Being a Founder03:05 Why Fundraising Is So Difficult07:05 Why Investors Say Deeptech Is Too Early08:56 The Missing Middle in Deeptech Funding12:47 How African Biotech Compares Globally17:11 Investor Bias and Building in Africa18:46 What Urobo Biotech Actually Does20:18 Is Anyone Else Doing This in Africa?22:37 Bridging the Context Gap With Investors24:02 The Grit of African Founders28:49 Why Investors Chase Flashy Ideas34:46 From Scientist to Biotech Founder40:55 Why Co-Founders Matter44:54 Ego, Equity and Founder Vesting49:05 Choosing a Co-Founder Like a Life Partner53:30 Founder Well-Being and the Cost of Hustle Culture59:22 Built in Africa, For the WorldListen to From Scarcity to Scale:Spotify: https://open.spotify.com/show/033MvCMpADBiJkCFvzOvT3Apple Podcasts: https://podcasts.apple.com/podcast/id6789160442Follow Wessel Myburgh:https://www.linkedin.com/in/wessel-myburgh-20939525a/Urobo Biotech:https://www.urobobiotech.com/Pre-order the book — From Scarcity to Scale:https://forms.gle/ZzFWzWSKT5EwsE5Z7Follow Daniel Maloba:https://www.linkedin.com/in/danielmaloba/

Today’s guest is Diego Castillo, PhD, co-founder and CTO of Biomine Health, a South African biotech company working at the frontier of microbiome science, personalised health, and deeptech commercialisation.Diego’s background sits at the intersection of genetics, microbiome research, metagenomics, and bioinformatics. Through Biomine, he is helping turn complex microbiome science into practical health tools, including at-home gut microbiome testing and personalised insights for South African consumers.But this conversation is not only about biotech. It is about what it takes to build a deeptech company from Africa, where capital is scarcer, the ecosystem is thinner, and founders are often forced to execute with fewer resources than their global counterparts.And that is exactly why Diego is such a fitting first guest for From Scarcity to Scale.In this episode, we talk about the journey from scientist to founder, the realities of building biotech in South Africa, why constraint can become an advantage, and what it means to commercialise science in a market that is still being built.