Stop Chasing Sexy Startups: Why Boring Businesses Win in Africa
Fifteen years ago, Kyle Schutter had a choice: get a PhD in biofuels or move to Africa and start a biofuel company. He chose the second option — and landed in Kenya after what he calls the “blue cheese test”: if a country could produce local blue cheese, it probably had enough cold chain, middle class and basic infrastructure to build serious businesses.
His first venture, a biogas company selling to low-income farmers, raised money and revenue… but never made a profit. His second, a Thai restaurant in Nairobi buying from poor farmers and selling to rich Nairobians, was profitable from month one. That contrast led him to a simple conclusion: a good entrepreneur in a bad business will still lose.
Today Kyle runs Kuzana, an investment and acceleration platform that backs what he proudly calls “boring and profitable businesses” — soybean aggregators, agri-SMEs, and other non-flashy companies that feed the economy and can grow without burning cash. Kuzana offers small, fast capital (starting around $20k), plus a 12-week programme focused on focus, professionalisation and community. On average, companies in the programme 2x their revenue and gross profit in just 12 weeks.
We talk about why tech in Africa is often overbought, why SMEs face 100% interest locally while the same trade can be financed at 10% in Europe, and what it takes to mint 1,000 millionaires from “boring” businesses. Along the way, Kyle shares concrete stories — like Greenwells, a soybean aggregator that 4x’d in seven months and produced Kuzana’s first on-paper millionaire.
If you care about where real, scalable wealth in Africa will come from, this episode is a sharp, honest reality check.
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