Dr. Abasi Ene-Obong, the founder of 54gene, has started a new company, Syndicate Bio. The rise and fall of 54gene In 2019, Ene-Obong founded 54gene, a Nigerian health and biotech startup, to address the gap in the genomics market. At the height of the pandemic, the organization seized the opportunity to earn more money by transforming its lab into a COVID testing center. But, as Covid cases reduced and fewer people carried out tests, many of the staff 54gene recruited had to be let go. The organization was forced to
Kuda, a digital bank based in Nigeria and the U.K., has confirmed via email to media that it has laid off less than 5% of its 450-strong workforce, equivalent to about 23 people. There have been other startups, especially those that have raised vast sums of venture capital within the last year or two, that have laid off hundreds of staff; for instance, Swvl laid off 400 people; Wave, approximately 300; 54gene, 95; and Vezeeta, 50. The layoffs come a year after Kuda, which provides zero to minimal fees on cards, account maintenance and transfers,
