(Ecofin Agency) - Few tech entrepreneurs in Africa turn to therapists to address burnout, anxiety, or depression. Most rely on coping strategies of varying effectiveness, such as exercise, sleep, or healthy eating.

A new report highlights the mental health struggles faced by many African startup founders. Although the majority of them are driven, creative, and ambitious, 86% admit to dealing with mental health issues, largely due to challenges like limited access to funding and the continent's unpredictable economic environment. The report, "Passion and Perseverance: Voices from the African Founder Journey," was published in November 2024 by the venture capital firm Flourish Ventures.

It is based on a survey of 169 startup founders from 13 African countries, including Nigeria, Egypt, and Kenya. It reveals that running a startup's mental and emotional toll is significant, with founders facing constant pressure. Among those struggling with mental health, 60% report anxiety, 58% deal with high stress, 52% suffer from burnout, and 20% experience depression.

Despite these challenges, the founders remain passionate about their work. However, only 38% of those surveyed say they wake up feeling refreshed and rested, while 37% report feeling calm and relaxed. Even successful startup leaders at companies like FairMoney, Flutterwave, MaxAB, and Pula are not immune to mental health issues, with 76% acknowledging their struggles.

The survey also reveals that 78% of founders, especially men (79%), describe their role as a "solitary job" and often feel the weight of the business rests solely on their shoulders. Many feel uncomfortable discussing their stress with others, as they want to maintain morale and productivity within their teams.

The primary sources of stress for these founders over the past year include difficulties accessing funding (59%), inflation and currency devaluation (44%), and other economic uncertainties (40%). Female founders report additional challenges, such as a lack of work-life balance (53%), fear of failure (53%), and loneliness (44%).

While many African start-up founders are hesitant to speak openly about their mental health, 14% are "very open" to discussing their stress. Most turn to family and friends (81%) for support, rather than peers (42%) or mentors (22%). Only 2 out of 10 founders feel comfortable talking about mental health with investors, and just 1 in 10 believes that investors genuinely care about their well-being.

A quarter of the founders seek help from coaches or therapists, but the stigma around mental health professionals remains a challenge. To cope with daily pressures, many turn to exercise (59%), support from loved ones (49%), catching up on lost sleep (45%), and healthy eating (42%).

Despite the toll on their mental health, 81% of African founders enjoy their journey, and 64% would prefer to start a new venture rather than work for someone else if their current startup fails.