{"data":{"type":"company_profile","id":98542,"entity_id":"wefunder:company:98542","attributes":{"canonical_url":"https://wefunder.com/africaeats","generated_at":"2026-06-19T17:43:09Z","updated_at":"2026-06-19T05:00:38Z","entity_ids":{"company":"wefunder:company:98542","slug":"wefunder:company_slug:africaeats"},"profile_visibility":{"owner_published":true,"public_search_results":true,"site_search_listed":true,"privacy_mode":"promote","invite_only":false},"provenance":{"source":"wefunder_public_company_profile","as_of":"2026-06-19T17:43:09Z","claims":{"total_amount_raised":{"source":"FrontCompanySummary#amount_raised","last_verified_at":"2026-06-19T05:00:38Z","as_of":"2026-06-19T17:43:09Z","confidence":"high"},"total_investors":{"source":"FrontCompanySummary#number_of_investors","last_verified_at":"2026-06-19T05:00:38Z","as_of":"2026-06-19T17:43:09Z","confidence":"high"},"active_raise_states":{"source":"Fundraise.visible(nil, nil)","last_verified_at":"2025-02-06T01:17:55Z","as_of":"2026-06-19T17:43:09Z","confidence":"high"},"latest_fundraise_state":{"source":"Fundraise.visible(nil, nil).order(funding_started_at)","last_verified_at":"2025-02-06T01:17:55Z","as_of":"2026-06-19T17:43:09Z","confidence":"medium"}}},"company":{"id":98542,"entity_id":"wefunder:company:98542","slug":"africaeats","name":"Africa Eats","tagline":"For-profit solutions to hunger and poverty in Africa","elevator_pitch":"We help companies grow. Specifically, a few dozen companies in Africa, all run by native Africans, all building the food supply chain to feed Africa, collectively working with tens of thousands of farmers who they then pull out of poverty. We do all this as a for-profit company, ultimately earning money for our investors while solving these critical problems.","story":"We thank all of the crowdfunders in 2022 who helped fund Africa Eats. That turned out to be quite a good investment. Shares were purchased in 2022 at $1.00/share, and are being repurchased at $2.25/share. More than doubled in just over two years!This due to the big news that Africa Eats is about to be a publicly listed company!Coming soon to the Stock Market of MauritiusOnce listed, anyone will be able to buy and sell shares directly, using the new Tuesday app.","location":"Seattle, WA","website":"https://africaeats.com","total_amount_raised":127100,"total_investors":153,"is_funded":false,"is_active":false,"quality_score":2,"related_urls":["https://wefunder.com/africaeats","https://africaeats.com"]},"media":{"share_image_url":"https://uploads.wefunder.com/uploads/company/header_media_photo/98542/xxl_blob.jpg","logo_url":"https://uploads.wefunder.com/uploads/company/logo/98542/large_cropped_Africa_Eats_-_800x800.png","header_media_url":"https://uploads.wefunder.com/uploads/company/header_media_photo/98542/standard_blob.jpg","cover_photo_url":"https://uploads.wefunder.com/uploads/company/header_media_photo/98542/standard_blob.jpg","profile_video_url":"https://wefunder.wistia.com/medias/w46y9xktf5"},"links":{"company_url":"https://africaeats.com","linkedin_url":"https://linkedin.com/company/66298179/","twitter_url":"https://twitter.com/AfricaEats","youtube_url":"https://youtube.com/@AfricaEats"},"highlights":[],"quick_facts":[{"index":1,"claim_id":"claim-fact-1","value":"Lowering hunger and poverty by building the food/ag supply chain in Africa"},{"index":2,"claim_id":"claim-fact-2","value":"Doubling the income of smallholder farmers"},{"index":3,"claim_id":"claim-fact-3","value":"Lowering post-harvest losses from 30%-50% to \u0026lt;5%"}],"team":[{"id":2128791,"entity_id":"wefunder:company_role:2128791","user_entity_id":"wefunder:user:2039940","role":"founder","name":"Luni Libes","title":"Co-founder \u0026 CEO","bio":"30+ year serial entrepreneur. Founder of Fledge, a global network of business accelerators. Author of \"The Next Step\" books for entrepreneurs. Creator of \"The Angel Accelerator\". Taught entrepreneurship at multiple business schools.","avatar_url":"https://uploads.wefunder.com/uploads/company_role/custom_photo/2128791/square_cropped_Luni__white_.jpg?1714672611","profile_url":"https://wefunder.com/lunilibes","personal_url":"http://africaeats.com","related_urls":["https://wefunder.com/lunilibes","http://africaeats.com"]},{"id":2128835,"entity_id":"wefunder:company_role:2128835","role":"founder","name":"Jumaane Tafawa","title":"Co-founder \u0026 Executive Director","bio":"20+ year expert on corporate growth, having started and grown multiple multi-hundred million-dollar African companies and also helped expand Fortune 1000 companies across the African continent. Harvard Kennedy MPA.","avatar_url":"https://uploads.wefunder.com/uploads/company_role/custom_photo/2128835/square_cropped_Jumaane.jpg?1714672611","linkedin_url":"https://www.linkedin.com/in/jumaanetafawa/","related_urls":[]}],"featured_investors":[{"id":9252,"entity_id":"wefunder:company_investor_profile:9252","investor_profile_id":1001625,"investor_profile_entity_id":"wefunder:investor_profile:1001625","subject_entity_id":"wefunder:user:1475550","name":"Rex Wardlaw","avatar_url":"https://uploads.wefunder.com/2021/user_default_icon_circle.png","profile_url":"https://wefunder.com/rexwardlaw","endorsement_quote":"Investing in Africa Eats is a direct way to support African entrepreneurs who are reducing food scarcity by improving food quality and offering healthy nutritious options to Africans. The rapid growth experienced by this company is a testament to both the burgeoning consumer demand and ability to scale up to meet the increased demand. Continued growth requires additional investment, which provides a true opportunity to invest directly in the economic growth that is happening in Africa today.","investment_total":15000,"investment_info":"Invested $5,000 this round \u0026 $10,000 previously","is_lead_investor":true,"related_urls":["https://wefunder.com/rexwardlaw"]}],"investor_memos":[],"tab_counts":{"posts":0,"ask_questions":19,"featured_investors":1,"faq_entries":5},"active_fundraises":[{"id":117835,"entity_id":"wefunder:fundraise:117835","state":"successful","offering_type":"4(a)(6)","funding_type":"note","structure":"ttw","security_type":"","currency":"USD","testing_the_waters":true,"min_purchase":100,"max_purchase":9,"funding_target":123999.75,"minimum_target":"50001.75","maximum_target":"123999.75"},{"id":51944,"entity_id":"wefunder:fundraise:51944","state":"successful","offering_type":"4(a)(6)","funding_type":"note","structure":"equity","security_type":"equity","currency":"USD","testing_the_waters":false,"min_purchase":100,"max_purchase":9,"funding_target":100000.0,"funding_started_at":"2022-01-21T23:33:11Z","funding_closed_at":"2022-03-24T05:01:58Z","auto_close_at":"2022-03-23T03:59:59Z"},{"id":51945,"entity_id":"wefunder:fundraise:51945","state":"successful","offering_type":"4(a)(6)","funding_type":"note","structure":"ttw","security_type":"equity","currency":"USD","testing_the_waters":true,"min_purchase":100,"max_purchase":9,"funding_target":200000.0,"funding_started_at":"2021-09-19T22:54:14Z"}],"latest_fundraise":{"id":117835,"entity_id":"wefunder:fundraise:117835","state":"successful","offering_type":"4(a)(6)","structure":"ttw","testing_the_waters":true,"can_invest_now":false,"funding_started_at":null,"funding_closed_at":null,"terms":{"eb":null,"nb":"$1.7M","txt":"pre-money valuation"}},"recent_posts":[],"q_and_a":[{"id":171436,"entity_id":"wefunder:comment:171436","question":"Great concept to provide support to enable African entrepreneurs and farmers. Could you clarify the terms - if you are raising $500k at that valuation does that mean wefunder investors will hold half the equity in the company?","author_name":"Justin A","votes":4,"created_at":"2021-09-27T22:45:18Z","canonical_url":"https://wefunder.com/africaeats#question-171436","answers":[{"id":171575,"entity_id":"wefunder:comment:171575","answer":"Normally, your interpretation would be correct. At the moment we're \"testing the waters\" to gather the interest of this investment opportunity. Once we hit the goal we'll do a \"first close\" with the final terms. Those should be $1/share of preferred equity, and the pre-money should be lower than the reported $500,000.","author_name":"Luni Libes","votes":0,"created_at":"2021-09-28T21:33:29Z"}]},{"id":290689,"entity_id":"wefunder:comment:290689","question":"Can you explain how Africa Eats gets it's revenue? The deck spends a lot of time on the revenue of the companies Africa Eats works with and getting those companies on the stock exchange. The way the deck reads Africa Eats works with 21 companies with growing revenue and these 21 companies work with Africa Eats for free. It's not too clear how Africa Eats gets it's revenue. Also, the Financials tab has 0 revenue for Africa Eats.","author_name":"Kevin Brown","votes":2,"created_at":"2024-08-18T11:25:00Z","canonical_url":"https://wefunder.com/africaeats#question-290689","answers":[{"id":290735,"entity_id":"wefunder:comment:290735","answer":"Africa Eats SPC will earn revenues by charging the companies for the guidance it provides in getting the companies ready to be listed. Arica Eats the multinational (see answers to previous questions) owns minority ownership stakes in those companies.","author_name":"Luni Libes","votes":1,"created_at":"2024-08-19T05:00:09Z"}]},{"id":285827,"entity_id":"wefunder:comment:285827","question":"Great to see the progress in your portfolio companies since the last round. While Africa Eats itself also be listing in Mauritius or somewhere else? How can US investors trade Mauritius stocks?","author_name":"Justin A","votes":1,"created_at":"2024-06-26T07:11:29Z","canonical_url":"https://wefunder.com/africaeats#question-285827","answers":[{"id":285930,"entity_id":"wefunder:comment:285930","answer":"An app is under development that will let US investors buy and sell the shares of Africa Eats once listed on the Stock Exchange of Mauritius, along withe the other companies that Africa Eats is helping to list on that exchange. iPhone, Android, and web.","author_name":"Luni Libes","votes":0,"created_at":"2024-06-26T19:04:00Z"}]},{"id":193043,"entity_id":"wefunder:comment:193043","question":"Hi, if the projected revenue for 2022 is $1M what is the net profit from that revenue and cash flow generated? Finally, when will you be self sustaining business? Thank you","author_name":"Kapeesh Bhaghavathula","votes":1,"created_at":"2022-02-17T22:06:56Z","canonical_url":"https://wefunder.com/africaeats#question-193043","answers":[{"id":194383,"entity_id":"wefunder:comment:194383","answer":"The expectation is that Africa Eats will be self sustaining in 2023, and every year afterwards.","author_name":"Luni Libes","votes":0,"created_at":"2022-02-28T04:20:05Z"}]},{"id":190779,"entity_id":"wefunder:comment:190779","question":"Is there any plan to pay dividends in the next few years?","author_name":"Simone Zortea","votes":1,"created_at":"2022-02-02T05:16:56Z","canonical_url":"https://wefunder.com/africaeats#question-190779","answers":[{"id":191471,"entity_id":"wefunder:comment:191471","answer":"There are no plans to ever pay a dividend. Instead we are copying the Berkshire Hathaway model of holding company, recycling profits into more growth. See the latest update for the 10x growth over the last five years and the expectations for 2022.","author_name":"Luni Libes","votes":0,"created_at":"2022-02-07T23:31:14Z"}]},{"id":179374,"entity_id":"wefunder:comment:179374","question":"I'm trying to get a better understanding of the corporate structure. It sounds like Africa Eats Ltd. is the investment arm/holding company that owns equity in the portfolio companies. However, investors are not getting a piece of that entity. Instead - as you state in response to another question - they will get equity in \"the piece of the whole that operates services for the portfolio companies.\" What is the name of the \"piece\" investors will get equity in, and what's the formal name of the parent company of the various subsidiaries?","author_name":"Kevin Hardman","votes":1,"created_at":"2021-11-15T03:36:59Z","canonical_url":"https://wefunder.com/africaeats#question-179374","answers":[{"id":179817,"entity_id":"wefunder:comment:179817","answer":"We wish this were simpler too, but we've set up this corporate structure in as simple of a manner as we could to keep in compliance with both U.S. and Mauritius regulations. Investors from Wefunder are buying preferred shares in Africa Eats SPC, a Washington State social purpose corporation that operates some of the services listed in the pitch deck, while Africa Eats Ltd. is a Mauritius limited liability company that invests into the portfolio companies and which operates the other services. In setting up the terms of the preferred shares in Africa Eats SPC, the goal is for shareholders of that company to have as close to identical returns as investors in Africa Eats Ltd. as possible. Corporate tax rules differ between American and foreign companies and thus the returns won't be identical, but our goal is the same pre-tax return for all investors.","author_name":"Luni Libes","votes":0,"created_at":"2021-11-18T00:42:36Z"}]},{"id":175920,"entity_id":"wefunder:comment:175920","question":"1) I love the goal and want to support the mission, but frankly speaking, there’s not enough meat on the bone here to help me understand exactly what you do and how you do it. Ergo, I had to do outside research to get a better handle on the company. (For example, it turns out that Africa Eats is a holding company, but that’s not mentioned anywhere on your campaign page.) Anyway, one of the things I came across was a Forbes article which states: “Farmers also get a 1% ownership stake in Africa Eats and another 1% per year, every year in perpetuity.” One percent per year in perpetuity doesn’t seem possible, so can you explain this? Also, how will it affect investors? 2) What’s the average amount of equity that Africa Eats has in each portfolio company?","author_name":"Kevin Hardman","votes":1,"created_at":"2021-10-26T14:47:02Z","canonical_url":"https://wefunder.com/africaeats#question-175920","answers":[{"id":179334,"entity_id":"wefunder:comment:179334","answer":"For (1), see the answer to the oldest question. Africa Eats Ltd. is indeed an investment holding company. That corporation is the investment arm of the multi-national group of companies that comprises Africa Eats as a whole. As a whole, the mission is simple: to lessen hunger and poverty by supporting the efforts of homegrown, for-profit African companies that are building the food/ag supply chain. As explained in the pitch deck, Africa Eats does that with a series of services offered to our companies, with the initial services being: financial management, solar leases, truck leases, savings \u0026amp; credit, and insurance. The companies are charged a fee for those services, and sign up as the services help the companies be stronger and grow faster. Answering (1a), the 1% per year dilutes all existing investors, just as this crowdfunding dilutes all existing investors. Both processes create new shares. That may lessen the value of the existing shares, but it doesn't replace or eliminate those shares. Thus it is possible to share the value created by Africa Eats in perpetuity without ever giving away the whole company to the farmers. For (2), Africa Eats Ltd. currently owns an estimated 10% of the total equity across the companies, with plans to increase that ownership over time through additional investments.","author_name":"Luni Libes","votes":0,"created_at":"2021-11-14T17:01:42Z"}]},{"id":171524,"entity_id":"wefunder:comment:171524","question":"The pre-money valuation is $500k but you already raised $1.8m according to articles published. Can you explain that?","author_name":"Kyle Schutter","votes":1,"created_at":"2021-09-28T17:56:12Z","canonical_url":"https://wefunder.com/africaeats#question-171524","answers":[{"id":171581,"entity_id":"wefunder:comment:171581","answer":"Global businesses seem simple on the surface but are often complicated internally. For example, when the press talks about Coca-Cola, we generally think of the corporation based in Atlanta. What we ignore are the hundreds of other companies fully and partially owned by Coca-Cola which are incorporated in hundreds of other countries. Its the sum total of those companies which together are Coca Cola. Africa Eats Ltd. has raised over $2 million. That is the investing arm of Africa Eats. This crowdfunding campaign is for the piece of the whole that operates services for the portfolio companies. Together these two pieces are \"Africa Eats\", as simple of a corporate structure as we could create to do get the work done, and far simpler than Coca Cola or other giant multi-national corporations. Ultimately all these entities are tied together into a whole such that upon success there is no significant difference to equity investors which piece they own.","author_name":"Luni Libes","votes":2,"created_at":"2021-09-28T21:47:44Z"}]},{"id":293988,"entity_id":"wefunder:comment:293988","question":"Hi, love the mission. I have a few questions: 1. What is Africa Eats Ltd's revenue and net income? How much stock in portfolio companies does it own? 2. How was the change in share price from $1 to $2.25 determined? 3. What share price and valuation is Africa Eats Ltd going to list on the Stock Exchange of Mauritius at? 4. Will it's stock trade in Mauritius rupees? Will the brokerage app convert currencies? Thanks","author_name":"Felix Vayssieres","votes":0,"created_at":"2024-10-11T02:22:32Z","canonical_url":"https://wefunder.com/africaeats#question-293988","answers":[]},{"id":292041,"entity_id":"wefunder:comment:292041","question":"Got an amazing project that needs investors? I'm here to help you get the attention and support your campaign deserves! on Wefunder, I'll ensure your campaign reaches the right people to help you achieve your goals. KINDLY CONTACT THROUGH THIS LINK https://shorturl.at/hKkuR","author_name":"Dammy Branding Company","votes":0,"created_at":"2024-09-11T02:21:22Z","canonical_url":"https://wefunder.com/africaeats#question-292041","answers":[]},{"id":285776,"entity_id":"wefunder:comment:285776","question":"Hello! Love the concept. Are you profitable or are any of the businesses in the portfolio profitable? Do you see a potential exit without selling to a large multinational corporation?","author_name":"Andrew Neely","votes":0,"created_at":"2024-06-25T21:06:51Z","canonical_url":"https://wefunder.com/africaeats#question-285776","answers":[{"id":285779,"entity_id":"wefunder:comment:285779","answer":"(First question of the new campaign, so I'll start with the fact that Africa Eats SPC is one part of a multinational whole, which I'll just call Africa Eats for simplicity) Yes, Africa Eats is profitable. All the companies Africa Eats works with have been profitable, and most were profitable last year. Those companies are all working in the food/ag sector, and as such severe weather can cause unexpected losses, and historically in any given year a few of the companies fail to break even. In the OVERVIEW, the 5th image shows the history of profitability. As for exits, the plan is purposefully no exits. We fly in all the founders to Nairobi once per year and we've asked them what their plans are for their companies. Out of two dozen founders in the room, only one or two are envisioning an exit. The rest are envisioning building large companies that they operate until retirement. To help them with that vision and to help those that want to exit grow faster, we're working to publicly list the fastest growing companies, so that they can raise the capital they need to grow, and so the founders who don't want to ever sell their companies can sell a portion of their shares to benefit from all the value they've created.","author_name":"Luni Libes","votes":0,"created_at":"2024-06-25T22:01:21Z"}]},{"id":224220,"entity_id":"wefunder:comment:224220","question":"Hi Luni, did I see somewhere that you are doing another raise?","author_name":"Mario M Teel Jr.","votes":0,"created_at":"2022-10-30T00:53:57Z","canonical_url":"https://wefunder.com/africaeats#question-224220","answers":[{"id":224269,"entity_id":"wefunder:comment:224269","answer":"Africa Eats SPC filed a Form D withe the SEC from an investment by an accredited investor. We've no plans right now for any additional crowdfunding raise.","author_name":"Luni Libes","votes":0,"created_at":"2022-10-30T20:37:54Z"}]},{"id":197113,"entity_id":"wefunder:comment:197113","question":"Hi, if the projected revenue for 2022 is $1M what is the net profit from that revenue and cash flow generated?","author_name":"Kapeesh Bhaghavathula","votes":0,"created_at":"2022-03-19T04:42:28Z","canonical_url":"https://wefunder.com/africaeats#question-197113","answers":[{"id":206448,"entity_id":"wefunder:comment:206448","answer":"The goal is break even in 2023","author_name":"Luni Libes","votes":0,"created_at":"2022-05-26T17:10:25Z"}]},{"id":192601,"entity_id":"wefunder:comment:192601","question":"One more question Luni. Since the entity the investment is in is an LLC, can you tell me whether the LLC elects to be treated as a partnership or a corporation under the United States tax laws? I'm Canadian, which is why I'm asking. Thanks","author_name":"Christopher Gora","votes":0,"created_at":"2022-02-16T06:07:07Z","canonical_url":"https://wefunder.com/africaeats#question-192601","answers":[{"id":192676,"entity_id":"wefunder:comment:192676","answer":"That is a question for Wefunder, as they operate the LLC that makes the investment into Africa Eats SPC. SPCs are taxes as corporations.","author_name":"Luni Libes","votes":0,"created_at":"2022-02-16T17:58:39Z"}]},{"id":192154,"entity_id":"wefunder:comment:192154","question":"Hi, a few things: 1) where can I find the pitch deck? 2) Still am not quite clear what the rights and restrictions are on the preferred shares. Is that disclosed anywhere? The overview states that these are not equity interests, so I'm confused. 3) Is the planned liquidity event for this company's investors really an IPO (is that doable for an SPC) ? Thanks, great concept and very interesting business model for this entity.","author_name":"Christopher Gora","votes":0,"created_at":"2022-02-13T06:09:00Z","canonical_url":"https://wefunder.com/africaeats#question-192154","answers":[{"id":192183,"entity_id":"wefunder:comment:192183","answer":"The crowdfunding overview are the slides from the pitch deck. We're using the open source Series Seed agreement for the preferred shares. The overview says \"Priced Round\" which is Wefunder's way of saying investors are buying equity. SPCs are for-profit companies with all the same rights and abilities of C corporations. The only difference is that SPCs exist to have a positive social purpose rather than existing solely to make as money as possible. That said, we're capitalists, we just believe that solutions to hunger and poverty require profitable companies rather than relying solely on philanthropy.","author_name":"Luni Libes","votes":1,"created_at":"2022-02-13T19:00:39Z"}]},{"id":191547,"entity_id":"wefunder:comment:191547","question":"The last two updates have talked about the success that the portfolio companies are experiencing, which is great. However, based on your previous responses, those companies are not part of what investors will receive in this offering, correct? Or has the business model changed such that investors will now receive equity in the portfolio companies? (And if the investment opportunity hasn't changed, can you provide a similar update on the companies that investors actually will get equity in?)","author_name":"Kevin Hardman","votes":0,"created_at":"2022-02-08T17:32:39Z","canonical_url":"https://wefunder.com/africaeats#question-191547","answers":[{"id":192182,"entity_id":"wefunder:comment:192182","answer":"Africa Eats SPC provides services to the companies shown in the map and talked about in the update. The bigger the revenues from those companies, the more potential revenues from those services.","author_name":"Luni Libes","votes":0,"created_at":"2022-02-13T18:56:15Z"}]},{"id":190059,"entity_id":"wefunder:comment:190059","question":"You have several businesses listed including leasing solar panels and leasing trucks. Are these separate revenue streams? Are you planning to encourage the adoption of solar in Africa and, if so, how do you plan to make these leases equitable? There's a long history of Westerners \"helping\" Africans in a way that is ultimately exploitative.","author_name":"Andrew Neely","votes":0,"created_at":"2022-01-27T18:29:40Z","canonical_url":"https://wefunder.com/africaeats#question-190059","answers":[{"id":190199,"entity_id":"wefunder:comment:190199","answer":"Yes, these are all revenues stream for Africa Eats. As for helping vs. hurting, the company exists to help alleviate hunger and poverty. We do expect to earn a profit while having that impact, but we didn't start this company to maximize the profits of Africa Eats, but to help maximize the growth of the portfolio companies and their impacts. Fundamentally, the thesis is that the only way the world will solve hunger and poverty is through for-profits whose products/services alleviate those issues, with the profits of those companies helping growth the impacts to national, then regional, then continental scale. There simply isn't enough philanthropy in the world to provide the capital to reach the same scale.","author_name":"Luni Libes","votes":1,"created_at":"2022-01-28T07:59:55Z"}]},{"id":189601,"entity_id":"wefunder:comment:189601","question":"how will investors be able to monetize their investment? Plans for a listing? Share buybacks? Any plan for a dividend?","author_name":"Perry Boyle","votes":0,"created_at":"2022-01-24T19:15:45Z","canonical_url":"https://wefunder.com/africaeats#question-189601","answers":[{"id":189806,"entity_id":"wefunder:comment:189806","answer":"Share buyback.","author_name":"Luni Libes","votes":0,"created_at":"2022-01-26T00:27:32Z"}]},{"id":189472,"entity_id":"wefunder:comment:189472","question":"So doing the math on your aggregate revenues and profits chart you made around 2.86M revenue and 515k profit in USD in 2020? Also did you meet revenue and profit estimates for 2021?","author_name":"Albaro Escalera","votes":0,"created_at":"2022-01-22T16:58:11Z","canonical_url":"https://wefunder.com/africaeats#question-189472","answers":[{"id":189808,"entity_id":"wefunder:comment:189808","answer":"Note that the chart in question is the aggregate revenues and profits of the portfolio companies. We are still gathering the 2021 actuals from the companies. Typically that takes 45 days after the end of the year. So far, most companies are exceeding our estimates and the total should thus meet or exceed the prediction made a year ago.","author_name":"Luni Libes","votes":0,"created_at":"2022-01-26T00:29:25Z"}]}],"faq":[{"question":"Great concept to provide support to enable African entrepreneurs and farmers. Could you clarify the terms - if you are raising $500k at that valuation does that mean wefunder investors will hold half the equity in the company?","answer":"Normally, your interpretation would be correct. At the moment we're \"testing the waters\" to gather the interest of this investment opportunity. Once we hit the goal we'll do a \"first close\" with the final terms. Those should be $1/share of preferred equity, and the pre-money should be lower than the reported $500,000."},{"question":"The pre-money valuation is $500k but you already raised $1.8m according to articles published. Can you explain that?","answer":"Global businesses seem simple on the surface but are often complicated internally. For example, when the press talks about Coca-Cola, we generally think of the corporation based in Atlanta. What we ignore are the hundreds of other companies fully and partially owned by Coca-Cola which are incorporated in hundreds of other countries. Its the sum total of those companies which together are Coca Cola. Africa Eats Ltd. has raised over $2 million. That is the investing arm of Africa Eats. This cro..."},{"question":"1) I love the goal and want to support the mission, but frankly speaking, there’s not enough meat on the bone here to help me understand exactly what you do and how you do it. Ergo, I had to do outside research to get a better handle on the company. (For example, it turns out ...","answer":"For (1), see the answer to the oldest question. Africa Eats Ltd. is indeed an investment holding company. That corporation is the investment arm of the multi-national group of companies that comprises Africa Eats as a whole. As a whole, the mission is simple: to lessen hunger and poverty by supporting the efforts of homegrown, for-profit African companies that are building the food/ag supply chain. As explained in the pitch deck, Africa Eats does that with a series of services offered to our ..."},{"question":"I'm trying to get a better understanding of the corporate structure. It sounds like Africa Eats Ltd. is the investment arm/holding company that owns equity in the portfolio companies. However, investors are not getting a piece of that entity. Instead - as you state in response...","answer":"We wish this were simpler too, but we've set up this corporate structure in as simple of a manner as we could to keep in compliance with both U.S. and Mauritius regulations. Investors from Wefunder are buying preferred shares in Africa Eats SPC, a Washington State social purpose corporation that operates some of the services listed in the pitch deck, while Africa Eats Ltd. is a Mauritius limited liability company that invests into the portfolio companies and which operates the other services...."},{"question":"So doing the math on your aggregate revenues and profits chart you made around 2.86M revenue and 515k profit in USD in 2020? Also did you meet revenue and profit estimates for 2021?","answer":"Note that the chart in question is the aggregate revenues and profits of the portfolio companies. We are still gathering the 2021 actuals from the companies. Typically that takes 45 days after the end of the year. So far, most companies are exceeding our estimates and the total should thus meet or exceed the prediction made a year ago."}]}}}