Monday, November 28, 2022
HomeNewsAfrica54Gene, Swvl, Wave… Start-ups are laying off staff at every turn

54Gene, Swvl, Wave… Start-ups are laying off staff at every turn

Its fall has been as meteoric as its rise. At the end of October, Abasi Ene-Obong, co-founder and CEO of 54Gene, one of Africa’s leading biotech start-ups, announced he was stepping down from the management of the venture he had founded in 2019.

This follows the decision of its co-founder, Ogochukwu Francis Osifo, who resigned in September. The 36-year-old Nigerian geneticist remains a senior advisor to the company, which in just four years of existence has had to weather two major external crises.

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