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Q1 Project: A Research Paper on The spending habits of Africa's top 10 economies, and what it means for founders.
Founders often think Africa is "too complex," but the data proves otherwise. I mapped household spending across Africa’s 10 largest economies.
Here are the key findings:
• Food is the ultimate TAM: It consumes 40–61% of income everywhere. Lowering food costs in Lagos or Accra beats most Series B SaaS markets.
• Africa isn't one market: Payment rails are your entry strategy (e.g., telco rails in Kenya vs. fintech in Nigeria).
• Income > Geography: A household's income level predicts its spending behavior far better than national borders.
• Subscriptions fail: Payment timing must match income timing. Asset financing or harvest-cycle billing works better.
• GDP sizing is flawed: Sizing Nigeria solely on dollar GDP ignores its massive $2.25T PPP-adjusted reality.
The full paper includes 10 country profiles, opportunity maps, and 8 case studies.
This is the intro to my ICM series, read the full paper below 👇🏽
drive.google.com/file/d/1cUo36J…
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