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Sabi Cuts Workforce Amid E-Commerce Funding Decline

6/25/2025

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Summary

Story summary

Sabi, a Nigerian startup, reduced its workforce by 20% to concentrate on commodity exports amid B2B e-commerce challenges.
Established in 2020, Sabi secured $38 million in Series B funding to improve commodity trade traceability.
African e-commerce funding fell by 47.2% to $11.3 million in Q1 2025, indicating investor caution.
Nigeria's e-commerce market is expected to grow to $7.04 billion by 2025.

History

Historical Context

Established in 2020, the African Continental Free Trade Area (AfCFTA) aims to enhance intra-African trade by eliminating tariffs on 90% of goods, potentially boosting trade by 52%. However, Nigeria's e-commerce sector faces challenges, evidenced by Sabi's 20% workforce reduction amid a 47.2% drop in funding in early 2025, highlighting the need for startups to adapt to shifting market conditions.

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Story summary

Sabi, a Nigerian startup, reduced its workforce by 20% to concentrate on commodity exports amid B2B e-commerce challenges.
Established in 2020, Sabi secured $38 million in Series B funding to improve commodity trade traceability.
African e-commerce funding fell by 47.2% to $11.3 million in Q1 2025, indicating investor caution.
Nigeria's e-commerce market is expected to grow to $7.04 billion by 2025.

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