According to a founder wellbeing study conducted in Africa with the collaboration of Launch Africa, Madica, Endeavor, Econa, and Startup Snapshot, the majority of tech founders across the continent (81%) enjoy the journey of being a founder.
Although founding a startup comes with side effects like stress, burnout, and anxiety, many founders are content with this path and would even prefer to start a new venture over taking a job if their business fails.
While 86% of founders have external motivations like wellbeing in their ventures, internal motivations also hold a significant place in their lives.
The study collected data from over 160 entrepreneurs across 13 African countries, revealing that 52% experience burnout, 20% report depression, and 60% deal with anxiety. Yet, despite these challenges, 81% of founders are passionate about their work and satisfied with their journey.
The study highlights that the top sources of stress for founders include fundraising (59%), inflation (44%), and macroeconomic challenges (40%). To manage their stress, 59% of founders turn to exercise, 49% rely on personal relationships, 45% focus on getting sufficient sleep, and 42% aim for a healthy diet.
