Businessman asking a Light Bulb
I recounted this story last week while having dinner with Dr. Ola Brown. But in these current times, where there is a cash crunch and capita(lite) is the new normal, cash is everything; where there is no cash, only cash matters.About a decade ago, I was speaking to a Nigerian founder of a multi-million-dollar revenue business. He had achieved this level of massive wealth creation without raising venture capital. He had received interest from some European venture capitalists and was asking for my opinion on whether he should accept the money and form a partnership with these new investors. At first, I was positive (it was around 2014 when I was still optimistic about the Africa venture model), selling him the growth story and explaining why it would unlock his potential to build a continent-wide business. The only downside I mentioned was the need to be transparent and increase reporting requirements. He didn't really understand what I was referring ...