Nigerian Startup, Future Africa employees are resigning, while some are being laid off. According to reports, the employees are leaving or being laid off due to the memo given by the company.
The startup in the memo stated that it is transitioning from being a VC to a venture studio for its Fund III deployment. This is a move that would require a few teams.
“The company wishes to invest money in fewer startups so that it can focus on helping them build and scale, and this would require a lean workforce,” the employee said.
With this, some employees resigned immediately while some will be staying till January 2023 when their exit will take effect.
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How Many Employees Have Resigned So far?
The startup did not, however, give the exact number of employees who have resigned, a report from TechCabal confirmed that four employees have left already. One of the employees who left was one of its partners, Caleb Zipperstein, an Isreal VC operator.
What Future Africa Saying About The Employees’ Resignation
Aboyeji also revealed that they are undergoing a rebranding for a month. The logo of its website is also changed with no content. Going to the website, a teaser statement pops up, stating, “Something new is on the way!”
Conclusion
We however hope, that this decision and move of their yield a better result, especially now that the company has become a venture studio.
