From over 5 years of practice, I have noticed one extremely important legal agreement that most start-ups in Africa are either unaware of or haven’t fully taken advantage of. This agreement is referred to as “the Vesting Agreement”. Quickly, before we go into the nitty-gritty of a vesting agreement, I will like to explain what a “vesting” is and what are “vesting agreements or clauses”, strictly in the context of its functionality to an African start-up. Vesting is a process by which benefits, privilege, authority, rights, or interest in an asset or......
Last month, I wrote an article on “The Afroprenuer” titled “Attracting and retaining your first users as a virtual start-up”. Now, this month, I’ll be writing on important tips that can literally move your business from hundreds to thousands or millions of customers (or users for technology start-ups). As a recap, in the previous article, which was centered on research carried out on five successful start-ups: Konga, Jumia, Uber, Airbnb, and Jobberman, we explored three main points for attracting and retaining first customers, which are: Think like your customer and market, create......