All these answers quoting American sources. Have people here not yet realised how TechCrunch thinking does not apply in Africa?
If you ask me, the number one reason for start-up failure in our context is that most people are not in situations that allow them to persist with their ideas for long enough to succeed. Persistence is the most important quality for success. We’ve all heard of how Linda Ikeji persisted with her blog for 5 years till she eventually struck gold, but how many Africans can afford to do that? In Africa most people can only afford to experiment with a business for a few months before a myriad of 3rd world pressures start to relentlessly bombard you in the face. Even amongst the funded start-ups, I know of many founders who have diverted investor funds to traditional hustles like farming after only a few bad months at the start.