African entrepreneurs are deeply committed to their startups, but the cost of this passion often impacts their mental health, a new report from Flourish Ventures reveals.
The study, which surveyed over 160 founders across 13 African nations, found that more than 80% experience mental health challenges, with anxiety (60%), stress (58%), exhaustion (52%), and depression (20%) being the most common issues.
Key Challenges Affecting Founders
External pressures like fundraising, inflation, and economic instability weigh heavily on entrepreneurs.
Nearly 60% of respondents said raising funds is their biggest stressor, followed by inflation (44%) and navigating Africa’s volatile macroeconomic conditions (40%).
Even those leading thriving startups aren’t immune—70% of them also reported mental health challenges.
Despite the difficulties, African founders remain remarkably resilient, with 81% expressing a strong commitment to their entrepreneurial journeys.
However, they are calling for change: almost half have asked investors to set more realistic expectations and recognize them as individuals, not just financial contributors.
“Founder wellbeing has a direct impact on business success,” said Ameya Upadhyay, a venture partner at Flourish Ventures.
“We hope this data sparks conversations about supporting founders globally.”
Coping Strategies and the Importance of Support Networks
To manage the intense pressures, many founders turn to exercise (59%), relationships (49%), sleep (45%), and healthy eating (42%).
The report also highlights the importance of personal connections, with founders who have strong support networks reporting 13% higher well-being.
However, stigma surrounding mental health persists. Only 14% of founders feel comfortable discussing their struggles, largely due to fears of judgment or lack of empathy from investors.
“Founder stress and burnout are pervasive, yet founders are resilient,” Efayomi Carr said.
“This conversation is crucial for building a supportive ecosystem that ensures long-term success for everyone involved.”
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