Africa Eats: Ending Hunger and Poverty in Africa Through Profitable Ventures
- Africa Eats: Ending Hunger and Poverty in Africa Through Profitable Ventures Devin Thorpe 25:40
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Devin: What is your superpower?
Luni: I call it “if only.” So there are so many people out there that talk about the problems, the SDGs or any way you want to talk about the problems of the world. Usually, they’ll sit back and say, “Well, if only this existed, we could solve this problem. If only that existed, we could solve this problem.” I’m one of those people who does sit around and say, “if only.” And then I go make it happen.
In today’s episode of Superpowers for Good, I had the pleasure of welcoming back a dear friend and visionary entrepreneur, Luni Libes, the CEO of Africa Eats. Luni is not only an inspiring leader but also a key investor in the super crowd. His innovative company, Africa Eats, is on a mission to end hunger and poverty in Africa through a unique for-profit model, currently Crowdfunding on WeFunder.
Luni shared the story of how Africa Eats operates differently from traditional non-profits and government initiatives. “We’re jumping in as a for-profit company to lower hunger and to literally pull people out of poverty,” Luni explained. This approach allows Africa Eats to scale its impact sustainably and efficiently.
The company has invested in over 20 enterprises across Africa, focusing on enhancing the food and agriculture supply chain. Luni highlighted how Africa Eats supports small-scale farmers by aggregating their produce and selling processed food in urban markets, thereby doubling the farmers’ incomes. “We’ve seen it grow from a few hundred farmers to thousands of farmers,” Luni shared, illustrating the substantial Growth and potential of these ventures.
One of the most compelling aspects of Africa Eats is its commitment to reducing food loss. By managing the supply chain professionally, the company cuts down food loss from the typical 30-40% to just 5-6%, making a significant impact on both food Security and economic savings for the continent.
Luni’s vision extends beyond just a few companies. He envisions replicating this model across sub-Saharan Africa, empowering more entrepreneurs and scaling operations to new heights. “We could replicate this. We can either bring this company to the next country over or find another entrepreneur in another part of the continent that wants to do the same thing,” Luni said, underscoring the vast potential for growth.
The journey of Africa Eats is a testament to the power of combining profit with purpose. As Luni confirmed, “When you are doing good profitably, the good becomes infinite.”
Watch all of today’s episode to hear more about Africa Eats’ transformative work and how you can be part of this incredible mission.
Tl;dr:
Introduction of Luni Libes and Africa Eats:
Luni Libes is an investor and recurring guest on the show, currently involved in a crowdfunding campaign on WeFunder for Africa Eats, a company he founded to combat hunger and poverty in Africa.
Mission and Approach of Africa Eats:
Africa Eats operates as a for-profit investment company, supporting over 20 companies in Africa’s food and agriculture supply chain. By purchasing from small farmers and reducing food loss, they increase farmer incomes and save costs on food imports.
Success and Impact:
Since its inception, Africa Eats has significantly grown its portfolio companies, demonstrating substantial increases in revenue and farmer support. For example, Peniel Meat Processing in Rwanda grew from $30,000 to over a million dollars in revenue, becoming a major chicken processor.
Funding Strategy:
Africa Eats combines traditional funding from accredited investors with crowdfunding campaigns to democratize investment opportunities. The goal is to eventually make Africa Eats a public company, allowing widespread participation in its growth and impact.
Luni Libes’ Superpower and Vision:
Luni’s “if only” superpower involves identifying unmet needs and making them a reality. He emphasizes the importance of networking, having built a network of over 21,000 contacts to support his ventures. His next goal is to establish market makers in Africa to enhance liquidity and capital market functionality.
How to Develop “If Only” As a Superpower
Luni’s superpower is his ability to take ideas that begin with “if only” and turn them into reality. Rather than waiting for others to solve problems, he identifies needs and takes action to address them, creating impactful solutions.
Luni noticed that African stock markets lacked market makers, which are crucial for liquidity and efficient trading. Seeing this gap, he founded the first market maker in Mauritius, developed a business plan, secured funding, and built the necessary Technology. This initiative addressed a critical need and demonstrated his proactive approach to solving problems that others overlook.
Tips for Developing the Superpower:
Identify Needs: Constantly look for gaps and unmet needs in your environment.
Take Initiative: Don’t wait for others to act; take the first steps to address the problems you see.
Network Extensively: Build a broad network of contacts and maintain those Relationships. This can help you find resources and support when needed.
Document Contacts: Keep a detailed record of people you meet and reach out to them when you need advice or assistance.
Embrace Entrepreneurship: Be willing to start new ventures and projects, even if they seem daunting.
Hire Strategically: Hire individuals who can manage day-to-day operations, allowing you to focus on big-picture visionary work.
Push Beyond Comfort Zones: Even if you’re an introvert, push yourself to meet new people and expand your network.
By following Luni’s example and advice, you can make “if only” a skill. With practice and effort, you could make it a superpower that enables you to do more good in the world.
Remember, however, that research into success suggests that building on your own superpowers is more important than creating new ones or overcoming weaknesses. You do you!
Guest Profile
Luni Libes (he/him):
CEO, Africa Eats
About Africa Eats: Solving hunger and poverty in Africa by building the profitable food/ag supply chain.
Website: africaeats.com
X/Twitter Handle: @africaeats
Linkedin: linkedin.com/company/africa-eats
Other URL: wefunder.com/africaeats
Biographical Information:
Luni Libes is a 30+ year serial entrepreneur turned mentor, author, and teacher.
Africa Eats is a pan-African investment company focused on feeding Africa. This company is a spin-off of Fledge, a global network of impact-oriented accelerators. Realize Impact is a public charity that makes it easy for anyone to make an impact investment, and The Angel Accelerator teaches early-stage impact Investing.
In addition, Luni was an Entrepreneur in Residence and faculty at The Bainbridge Graduate Institute and an Entrepreneur in Residence Emeritus at the University of Washington’s CoMotion Center for Innovation and Impact.
Luni is the author of The Next Step series of books and podcasts, guiding entrepreneurs from idea to startup, The Pinchot Impact Index, a way to measure, compare, and aggregate impact, and Berkshire Africa, explaining how to use the lessons of Berkshire Hathaway in tackling hunger and poverty in Africa.
X/Twitter Handle: @lunarmobiscuit
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