In this episode, Eunice Ajim discusses the challenges and risks associated with building a company in Nigeria. She highlights the negative impact of the African press on the perception of African startups and emphasizes the need for more positive coverage. Eunice also emphasizes the importance of due diligence in the investment process and shares her experiences in detecting fraudulent practices. She discusses the consequences of fraud for founders and the legal implications, especially for international investors. Finally, she provides recommendations for investors to mitigate risks and encourages ethical business practices.
Takeaways
- The African press should focus on sharing positive stories and successful use cases of African startups to counterbalance the negative perception.
- Due diligence is crucial for investors to identify and mitigate risks associated with fraudulent practices.
- Fraudulent practices can have severe consequences for founders, including reputational damage and difficulty in raising future funding.
- International investors should be aware of the legal implications and potential challenges when investing in African startups.
- Investors should consider working with experienced funds or syndications to leverage their expertise in conducting thorough due diligence.
Chapters
00:00 Introduction and Setting the Context
01:17 The Role of African Press in Shaping Perceptions
02:12 The Importance of Due Diligence in Investing
03:10 Detecting Fraudulent Practices
05:00 The Consequences of Fraud for Founders
07:22 Legal Implications and International Investors
08:16 Recommendations for Investors
09:16 Conclusion
Make sure to connect with Eunice Ajim on various platforms:
Ajim Capital Website: https://www.ajimcapital.com/
Eunice Ajim Website: https://euniceajim.com/
LinkedIn: https://www.linkedin.com/in/euniceajim/
Twitter: https://twitter.com/euniceajim/
Instagram: https://www.instagram.com/euniceajim/
TikTok: https://www.tiktok.com/@euniceajim
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