Luni Libes on Building 'Berkshire Africa' & Transforming Food Investment
Hi friends,
Get ready for another insightful episode of Africa Tech Talks! Almost two weeks ago, we sat down with Luni Libes, the visionary CEO of Africa Eats, a unique for-profit impact investment firm that's tackling hunger and poverty by backing African SMEs in the food and agriculture sector.
Luni shared the incredible journey of Africa Eats, including their recent groundbreaking listing on the Stock Exchange of Mauritius (SEMX), the launch of their innovative "Tuesday Markets" platform to solve liquidity challenges, and their compelling "Berkshire Africa" investment philosophy.
🎧 Tune in to discover:
Inside the Episode: Key Insights from Luni Libes & Africa Eats
This conversation dives deep into how Africa Eats is rewriting the rules for investment in one of the continent's most vital sectors. Here are some highlights:
Addressing Chronic Underinvestment: Luni starkly points out the massive gap in funding for Africa's food and agriculture sector – citing only $100 million in PE/VC investment last year for a continent of 1.4 billion people, compared to single tech funding rounds exceeding that elsewhere. Africa Eats aims to bridge this gap.
Strategic SEMX Listing: Learn why Africa Eats chose to list on the Stock Exchange of Mauritius – a move designed to unlock the trillions available in global stock markets. Mauritius was selected for its pan-African accessibility, stability, and crucially, its US dollar-denominated trading, aligning perfectly with Africa Eats' operations.
Solving Illiquidity with "Tuesday Markets": African stock markets often suffer from illiquidity. Luni explains how Africa Eats launched "Tuesday Markets," Africa's first equity market maker, to guarantee instant trading for shares of companies like Africa Eats, Elite Meat, and Zoetto, making investment more attractive.
The "Berkshire Africa" Philosophy: Africa Eats combines three powerful elements:
Venture Capital: Taking minority stakes in existing, growing companies.
Hands-On Support: Providing deep operational guidance, helping build management teams (even covering initial salaries!).
Long-Term Hold: Inspired by Warren Buffett, they aim to hold investments "forever," focusing on building sustainable, profitable African businesses, not quick exits.
Real-World Impact & Growth: Hear inspiring stories of portfolio companies like:
Golden Pot (Tanzania): From $24k revenue to $2.2M, becoming Tanzania's only breakfast cereal maker, empowering women farmers.
Elite Meat Processing (Rwanda): From a $35k operation to Rwanda's largest chicken processor ($1.8M revenue) and also listed on the SEMX.
Transformative Tech (It's Simpler Than You Think!): Discover how basic tools like cell phones and trucks, combined with off-the-shelf software, are drastically reducing post-harvest losses from 30-50% down to just 2-3% in their supply chains.
Future Vision: Luni shares Africa Eats' ambitious goals for the 2030s: a portfolio of 50-100 companies, billions in aggregate revenue, and half the portfolio listed on African exchanges.
"We get rid of poverty because we buy their food for cash... We get rid of the post-harvest losses. And how do we do that? Yeah, we do that with cell phones and trucks." - Luni Libes
Meet Our Guest: Luni Libes
Beyond being the driving force behind Africa Eats, Luni Libes is a seasoned entrepreneur and investor with a deep commitment to impact.
Serial Entrepreneur: Luni has a rich history in the tech world (including time at Microsoft) and has founded multiple companies.
Founder of Fledge: He's the founder and managing director of Fledge, a global network of conscious company accelerators that helps impactful startups refine their models and connect with investors. Africa Eats actually grew out of the Fledge network!
Author & Educator: Luni has authored "The Next Step" book series, providing practical guidance for entrepreneurs navigating the startup journey, particularly those focused on social or environmental missions.
Global Impact Focus: While based in Seattle, Luni's work through Fledge and now Africa Eats demonstrates a profound dedication to supporting entrepreneurs building sustainable and impactful businesses worldwide, with a significant focus on Africa.
Luni's blend of tech-savvy, entrepreneurial experience, and dedication to conscious capitalism makes him a unique voice in the impact investing space.
More on Luni Libes: https://www.lunarmobiscuit.com/
Ready to dive deeper?
Listen to the full conversation with Luni Libes to get the complete picture of how Africa Eats is pioneering a new model for investment and impact in Africa's food sector.
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We hope you enjoy the episode! Let us know your thoughts.
Best regards,
The Africa Tech Talks Team