Concentration in early-stage capability.

Sequenced pillar rollout; conservative equity pace.

Sector cyclicality across power, freight, agri.

Diversification across three uncorrelated sectors.

Key-person dependency.

Documented playbooks; institutional hiring at scale points.

Regulatory pathway for future banking arm.

Long-horizon regulatory engagement, not a launch date.

Africa-market execution risk.

Operator-grade diligence; skin in the game on every deal.