JAMIE CARR: Labat Africa still looking for the high times
15 July 2021 - 05:00
Pivoting is a favourite tactic of start-ups that realise their original business plan is dead in the water. They surprise their original funders by switching from supplying online baby food to specialising in adult incontinence pants before anyone can say: "That’s not what I thought I was investing in." This appears to be a badge of honour in Silicon Valley, where you’re often not a success until you’ve had a few failures and a raft of disappointed investors behind you.
Labat Africa is in the middle of a mighty pivot, hoping to establish itself as a major player in the national cannabis industry...
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