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In an interview with TechCrunch, CEO Onayemi, a lawyer by profession, said the idea for Norebase came after various conversations on how his clients and colleagues in tech could leverage AfCFTA for their businesses. It allows founders and businesses to start and scale across several African countries at once or periodically.
According to Dario Giuliani , the firm’s director, the research organisation avoided using geography to define an African startup due to factors contributing to business identities like taxation, customers, IP, and management team. Mauritius-headquartered companies received $110 million while African startups headquartered in the U.K.
But various sources say the company’s issues were more inward than outward, as they described Capiter as a workplace with poor management, no structure and a business with a high burn rate. the holding company initially based in Mauritius and now in Abu Dhabi. In contrast, Capiter Egypt has only two board members: the Nouh brothers.
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