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Good Morning Africa
Meet The CEO : Kanessa Muluneh, Founder Nyle
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Welcome to the first Meet the CEO episode of the month.
This time, we feature Kanessa Muluneh, founder of Nyle
. Her vision is clear — unlocking Africa’s investment potential through profitable, high-impact ventures.
For 2026 alone, Nyle is targeting investments in more than 270 real estate and agriculture projects, 210 entertainment projects, 55 manufacturing ventures, and 37 mining and trade projects.
Buckle up as Kanessa dives into mentorship, scaling businesses, and navigating successful exits.
Meet Kanessa Muluneh — Founder, Nyle.
Welcome to the first video episode of the month. This time we each a lesson we make on the mile. For 2026 alone, now let's target investments in more than 270 real estate and agriculture projects, 210 entertainment projects, 55 in manufacturing, and 37 in mining and trade. So buckle up as Kanessa dives into mentorship, scaling businesses, and also navigating exits in Africa. Meet Kanessa Mulune, Thunder Nile. From over 2,400 cities and 179 countries, we bring you the Good Morning Africa podcast. Good morning Africa. Welcome aboard your course on Everything Business in Africa. I am Ritha Dong. For more follow-ups on Twitter at the K Financial News, and you can find me at Ritha Dong.
SPEAKER_00Canessa, I'm very, very uh excited to have you on the Good Morning Africa podcast. Thank you so much for having me. I'm excited to be here as well.
SPEAKER_01Of course, we start really easy with uh getting to know who you are, who is Kanessa Mulune. I hope I have pronounced that well. You have, you have. It's Kanessa Mulune. Oh, okay. So when you're not running around and trying to make uh can you know companies work and scale, who are you?
SPEAKER_00So Kanessa uh is my name. I am a mom of three. Uh born in Ethiopia. I was raised in Europe. Um, but I decided to return five, six years ago to the African continent and try to spread my uh you know, my reach within the continent because I believe that Africa is really the next uh chapter. Um or actually it is already happening, I should say. Um I travel a lot to to get myself introduced into the various cultures within Africa, because I think Africa is quite connected through many things, but we're also very much different from each other. So I enjoy doing that. And um, yeah, that's me in a nutshell.
SPEAKER_01So you have built quite a number of companies. Uh Niel, I hope I'm pronouncing that right as well, is one of your core babies. Uh, what was the reason that made you, you know, sit up and say, This uh I need to start a company called Nile, and this is what it needs to do. What was the gap you were trying to fill when you founded uh Nile?
SPEAKER_00So Nile is something I started uh last year um as a passion project because I started investing in Africa by myself and saw how different the whole market was compared to other uh Western markets, where you know investment is quite straightforward. There are rules, regulations um that protect you. In Africa, it's a little different. It doesn't mean you can't invest, but you really have to know what you're doing. So I was kind of documenting my journey and you know, taking it forward. And I saw that a lot of people were interested in my journey and you know they wanted to do to do the same. But um unfortunately, you know, some people got into some sticky situations along the way. So I said, you know what, maybe it's best I create one platform, um, introduce them to the people I work with, you know, offer the uh the offer it as a service, basically, so they know that they're dealing with the right people within the continent, but also use the regulations, the right regulations, um, and the right path in order to make investments within the company. And um specifically, the target audience that I specifically target is um are the diaspora uh Africans, African diaspora, and with African diaspora, I also kind of referring to African Americans to some extent. Um, so I'm trying to encourage them to return.
SPEAKER_01So, in conversation with I think the African Diaspora Network, uh I think maybe two, three months back, she said, you know, that there seems to be a lot, not seems to be there is a lot of money, but it's always looking for a vehicle. Is this maybe uh is this part of the reason that NAL is started? And also when they say that there's a lot of money in the diaspora, for many of us, we look at that in terms of remittances and not exactly as investment. Why is there such a you know a um a different outlook as to what diaspora money looks like? And and and then that also leads me up this is a long question to why Nile is here.
SPEAKER_00I think there are a lot of trust issues within our community. Um, and I understand why, but you know, we have to start somewhere. Um, I mean, foreigners are investing in Africa, why can't we do it? But there is this um thing around investment in Africa that scares us simply because um of the experiences maybe our parents been through or family been through, even ourselves been through. Um, so we need to educate people on how to take the right path. But trust issues is by far the biggest reason why people are hesitant.
SPEAKER_01From what I have read, you are taking on uh companies that are starting to scale. Uh they have the idea, they have built the idea, and they just want to start to scale. Why are you starting at that stage specifically and not from uh, let's say, ideation?
SPEAKER_00The reason why is um because I'm dealing with uh an audience that is quite, you know, uh, like I said, dealing with trust issues. I have to kind of prove myself first. You know, the firm is relatively new and scale-ups are generally safe because they have a proven track record. So I have data that backs up my um, you know, my belief basically. So it's not just uh following my gut feeling, but we have actual data that proves that this concept is a proven concept or people are willing to spend on this business. Um, so with that, I do think that the scale-ups are the safest to invest in right now. Doesn't mean I don't invest in uh or I don't want to invest in uh startups ever. Uh it's just that for the stage that we are at as an investment firm, uh it's just the best to prove it to the audience that I'm dealing with.
SPEAKER_01Okay, so from your um I see that the project goal for 2026 is very ambitious. I'm seeing 270 agriculture, real estate, 210 entertainment, 25 manufacturing, and 37 mining and trade. What criteria went into determining these sectors that you have chosen uh for the project goal?
SPEAKER_00So good thing that you mentioned the numbers. So in in terms of numbers, we are hitting the amount of companies that we we speak with, you know, we run due diligence on. Um, but I learned the hard way that not every company is ready for investment. Um so a lot of investments eventually uh do not go through, uh, unfortunately. So, but we still have hopes that um we meet our deadline, or it's not a deadline, but it's it's like it's like uh uh call it a manifestation in a way. Uh we we still hope to to reach those numbers soon. Um and we specifically targeted just real companies because with Africa, the infrastructure, the foundation is still being laid out. Um so uh if if we are working on the foundation, then I don't, or we as as you know, the board don't think that tech or all the other non-tangible uh you know industries are now priority. We should prioritize the the economy builders, which is construction, uh mining, agriculture, anything that people within Africa, but also outside Africa need from us.
SPEAKER_01That's a really, really uh great answer. Uh and and you know, talking about you know the the the sectors that you've chosen, like you said, there's a heavy, heavy, heavy, heavy um investment and focus on fintechs, ed techs, and sometimes maybe maybe agri tech, but health tech, ed tech, and fintech usually take a huge portion of um a lot of the investment that's coming. In your work funding, these other sectors that are not necessarily what the rest of the investors are focusing on, what are some of the lessons you're learning in picking what you know is is not the juiciest or the most romantic looking uh sectors on the continent?
SPEAKER_00Oh, that's a good one. That's a very good one. I think uh there are many like that. I um I think one of the um underestimated sectors is definitely transportation in of any kind, by the way, goods like cool transportation or storage as as such, so temperature controlled uh uh storage or transport. Um because let's be honest, transport of any kind is very like it's it's a pain in the continent. Getting something from point A to B, especially outside the capital or big cities, is a very big issue. But uh agricultural goods are all outside the big cities. So how do I make sure that um the good from the farm uh can be transported safely, temperature controlled, uh, you know, without it being affected by by you know the weather? There isn't a high demand, but we still couldn't find great partners to work with uh to solve this issue. So I think this is one of the hidden um you know the hidden industries or hidden businesses that I think will skyrocket soon or is a high in high demand.
SPEAKER_01Uh thank you so much. Um just maybe adding on that, uh you could also let us know some of the lessons you have learned from building and backing companies across uh Africa's traditional digital sectors. I know you've already hinted on it, but in the very what does traditional African um companies look like and also the digital sectors, what do they look like? And you know, uh a compare and contrast sort of thing uh in lessons in building in both fields.
SPEAKER_00Okay, so traditional company, how we uh classify traditional companies is kind of the the everyday necessities. That's how we classify traditional companies. So things you need everyday. So it could be anything food related, housing related, not necessarily just real estate, but it could be construction, plumbing, anything of that kind. Um resources that Africa has, so mining in this case, um they are in everyday like people's lives. So um that's how we classify traditional ones. And what I learned from uh this industry is that um, you know, most people work, um how do you say it? It's like the the old-fashioned way. So not as when you run due diligence sometimes as an investor, not everything is documented, or you cannot get the right paperwork all the time. I mean, a farmer uh he doesn't do, he might not do his bookkeeping uh as you expect from, let's say, a tech company. So um you have to be aware that when you run due diligence, it's a little bit different than any other uh modern company, let's say, um, or office job company. So it it's um yeah, it's a it's a little bit different. But we see the potential in those because we think it's recession proof. Um no matter what the world or economy goes through, uh these industries will remain because it's everyday need um of the popular, or not necessarily just for the population, for everyone in this world. I mean, we always eat, we always need to live somewhere. Um so yeah, this is this is what I can tell you.
SPEAKER_01Um let's talk about the realities of scaling ventures in emerging markets. What does that look like? Uh for you who's giving people money and saying, look, I see potential in you. Uh I think you can scale, I think uh you need money. Uh, and this is what's available. You have helped quite a number of you know, companies scale. What are the realities of helping venture skill in Africa? And also how do you help them navigate uh cross-border growth?
SPEAKER_00I think um what I can tell you from my experience is that it's not just money. I I know money obviously funds is is a big part of it, uh, but opening up your doors to a network is even more valuable. So knowledge imports with that. So it's it's um we we are in the process of um investing in a skincare brand in Kenya, and we visited them, and I saw that you know the the way they were working is not up to uh European standards or the standards that we are used to. So I was like, okay, these people obviously have potential, but they need a mentor. So we bring in a mentor that basically guides them and uh like you know, tells them how the process would look like if they want to tackle you know the outside world, so any any market outside of Kenya. You really need um protocols, you really need to set a standard in order to sell. You need to test your products. How do you test it? What kind of data do you gather? So I think uh knowledge or network access is even worth more. So you sometimes it's not just about you know handing over the money and just sit back. You really need to be involved and connect them to the right people.
SPEAKER_01Outside the money, what are some of the uh improvements you have seen in say coordinating, like you said, uh mentorship or maybe coordinating visits to you know people who are doing similar things uh for the the companies that you are trying to scale up? How much has this contributed into uh helping shape you know their their their vision post-scala?
SPEAKER_00I um yeah, that's a good question. Um so we are actually in the process of doing uh research on that, like how much impact does it really have? But I think the biggest help obviously is the funds. I mean, we cannot deny that. Because of that, they're able to scale. But once you scale up, your company basically becomes a different company. So uh having industry knowledge on board that you can just call uh quickly and uh ask a question is it's an underestimated asset, I would say. Uh so I do think, especially the the smaller businesses that are scaling up do benefit a lot from the from learning uh from other people in the industry. So having a mentor, uh but besides that, I think uh what we also offer uh and is of great value is marketing help. If they're ever ready, uh we connect them to the right people to promote their business. Um, because I personally feel that marketing and PR are quite weak on the continent. Um, we could do better better to promote ourselves. So we offer that help as well. Not all of them accept it, but some do and are open to it.
SPEAKER_01And also, you know, what are some of the common founder blind spots that you have seen uh when it comes to interacting with this you know, numerous number of companies who are looking for funding? Uh, and you know, how are you helping them build a strong uh narrative that can help unlock growth for not just their companies but also for the communities in which they're sitting?
SPEAKER_00Um, I think when many companies are looking for investors, they have no idea what it exactly means. They, I think uh many of them, especially the smaller ones, think uh they will just get money and with that will be able to run a company. But when an investor comes on board, you base your company basically changes. Somebody else has a say on what is going to happen. So that might be a shift or a change in your vision long term. Uh, and depending obviously on the stake or or share that the investor buys, they have quite a lot of influence as well. So you need to be prepared for that. So uh mostly when we help on board, we try to make them aware of this. I know it sounds romantic in the early stages, but investor on board basically means uh letting uh uh an unknown um uh foreigner come into your house, um or a stranger coming into come into your house. So you you need to be mentally prepared for that. Um so yeah, we we try to to educate them on that. Uh, but luckily we are dealing with companies who are more than ready for investors.
SPEAKER_01Uh can I say a number of things that we see, and I know we see this a lot when we speak to people in the startup space is women only getting 3% of any funding that's you know coming from the you know across the board. Companies uh we're seeing, we're not seeing as many women as we would like um starting up companies, um and then you know, going all the way. One in your in your analysis, are you seeing women in the non-traditional sectors coming up? And if not, what's your diagnosis of why they're not coming up? And just to add, um, we've also been in a situation where we're not seeing as many exits. In fact, I think the number of exits seem to have dropped in the past few, maybe two, three years. Uh that there seems to be a lot of you know cautiousness going on. So, one, it's the the woman question, two is the exit question.
SPEAKER_00Yeah, I think the women thing, um I think uh it's it's um from what I see, it's also just a matter of learning how to uh go and get what you want, uh, if that makes sense. Women, uh it's also a cultural thing within Africa that um women are not really taught to negotiate. Uh, this is not just an Africa, by the way. Worldwide, uh you mostly see that men still you still see in the Western world, for example, that men uh get higher salaries, but that's because they negotiate more. And they also are comfortable to to talk about money or to you know to stand firm uh and let people know their worth. I think in the uh in the in the investment space is quite similar. Um women get humbled really quick and just feel like, you know, I don't think they sometimes realize their worth. Um so I that plays a role from what I see.
SPEAKER_01I was asking why there's there's seemingly so few exits uh on the African continent. We have a lot of ideation, um you know, scaling, but exits we're not seeing as many. Um and you know, from your observation, what are some of the reasons why we're not seeing as many um exits?
SPEAKER_00Well, I that has everything to do from what I see, has everything to do that exits are not really a thing uh in the African continent. At least they're not used to it. So right now it's mostly people build a company and it will become a family company where kids take over. Uh, and if it's a big company, you want to stay uh CEO of that company or at least you know director or whatever, you want to be uh part of that company and family takes over. That's just how we've been navigating so far. You don't see exits or you didn't you don't see companies being built in order to be sold. It's not really a common thing uh on the African market. I'd never looked at it from that angle. Many kids take over. If you if you do research, you will see that in many companies that exist for quite a long time, it's that kids take over or family takes over. Um it's it's they don't consider exit as an option usually.
SPEAKER_01Can I say what are some of the changes you'd like to see? Um especially when it comes to funding. Um Companies on the African continent. What are some of the things that you would like to see change?
SPEAKER_00Trust, obviously. I would like to see people trust it more. But that's a process. We need to show proof and obviously with user case, as people see more positivity about Africa, I think that will that will come naturally. I mean, every African kind of looks up to their families outside and see them as an example. So I would like to see them return and make an impact home beyond charity, also just in business. So yeah, I these are the most important things. I think trust and having the diaspora on our side, you know, support Africa instead of a different economy, or they can do both, of course. I think that that would help for now at least. I'm not talking long-term necessarily, but now as Africa is entering this growing stage, we we need these two elements.
SPEAKER_01Okay. Um, outside, there's a lot of like, you know, everyone right now is running, you know, in into AI and ensuring that they have a foothold in AI. In the companies that you're investing, are you seeing the AI element? And do you think it is the time for us to be investing in our own sort of AI tools, uh uh, you know, tools that tell the African story and not necessarily as important what has already been uh built by you know uh other continents?
SPEAKER_00Yes. Um to answer your first question, no, I don't see much AI in the current companies that we invest in so far. Um because we're we're targeting traditional companies, you know, construction besides an email here and there, you don't see much uh AI being used. But um or or agriculture or you know, the the the it's it's very much of the the make a product and sell in a store kind of uh you know companies. But I do wish that uh AI would enter the African market more. And uh when I say that, it's because the current AI engines know nearly nothing about Africa. There's it's so hard to find proper good information about Africa on the current AI engines that we have out there, that I think we just need our own. And that will be the only tech I would consider investing in. Um like the languages that we speak, and there are many, I know, uh, but the actual history stories, the the you know, the people, the tribes, the amount of tribes, like we need the original story of Africa uh fed to the AI engines. So we need researchers who are willing to research uh and compile the data and and and basically create an AI engine out of that. But I do think it will take some time, yet I feel like it's time also for someone to work on this.
SPEAKER_01Um I know this is probably from a weird place. Are there we see a couple of say in the entertainment space? We see a lot of uh culture companies or culture uh startups, but they're not getting as much attention or much funding. And yet we're saying, you know, we need to invest in in keeping African stories, we need to invest in ensuring that we're always we're we're continuously telling the African story without it getting lost in in the white news. Why isn't there as much interest in investing in because their return on investment is technically not money? It's it's it's hard for uh culture to to you know turn into something that generates money. How do you then support companies that are you know their commodities culture? How do you ensure that something like that has a return on investment and also is supported to ensure that the stories are telling and not lost?
SPEAKER_00Well, um that's a good question. Uh I never dive deep into that, but it's it is a fair question to ask. Um, I do think that the companies right now, I'm not sure if they're linked to AI or they're they're you know the storytellers are actually considering AI in the process, but eventually an investor is in it to to you know to grow it, like to scale a company. Eventually you're there to to make money. And uh I don't think investors are generally interested in just uh sponsoring or or investing in an artist. That would mean more of a it should be a charity case or or uh more of a sponsoring. But we need like from from an investor aspect, I need a big vision behind it. Where is this going? I want to be part of something big and not uh just do some little uh regional project here and there. Um so I I think it depends on the vision of of that company or that that storyteller uh in order to uh raise funds. Uh but if you if you would uh claim that you want to become the next Chat GPT of Africa, I'm sure there will be investors lined up uh if you're in the right space.
SPEAKER_01Um okay. Uh um wait, I think one of my final questions is how can the how can diaspora capital and hands-on support strengthen the Africa entrepreneurial pipeline for startups?
SPEAKER_00Um I think besides the capital, besides the funds, obviously they bring in funds, but they also bring in knowledge. They understand the African markets, but they also understand another market wherever they stayed or grew up or or worked. So they bring in two cultures at one, and uh, it's like importing knowledge together with the funds. So I do think that African diaspora will play a huge role in the next five to ten years within Africa. Um, and once they are confident and regain their trust, uh they will be the engine. They will be able to communicate with foreigners, but also with the locals. The locals will learn a lot from them in terms of mentality and way of thinking. So, yeah, I think they will play a big role, actually. Thank you so much. Thank you for everything. Thank you for having me. Uh I had a great time.
SPEAKER_01I had a great time too. Uh, I can't thank you enough. And a quick look at the market. French media giant Canal Plus is facing an early test in Africa after its$2 billion acquisition of MultiChoice, with the South African pay TV group preparing to face antitrust regulators of the decade-old allegations of collusion. South Africa's Competition Commission on Monday accused Multi-Choice and Altec its set box its set top box supplier of reaching an arrangement under which the latter would stay out of the pay TV market. Multi-Choice, which became a CanalPlace subsidiary in December, has denied wrongdoing. The regulator is seeking to impose a penalty of 10% of multi-choice's domestic revenue, amounting to roughly 4 billion rand or about 244 million US dollars. If MultiChoice is found guilty, the fine will hit Canal Place. A date has not been set for the hearing. The French group told the investors it expects to make about 150 million euros, about 176 million dollars in annual cost savings in the first year of the deal, rising to more than 471 million dollars a year in savings later in the decade. Thank you for always waking up with us, Go Money Africa as a product of K Financial. If you have suggestions or check out more stories, visit the website, that's the Kfinancial.com. Don't forget to subscribe. You can find us on all social media pods. You can find us on all social media platforms at the K Financial, and you can find me at the DOM.