Afrobility: Africa Tech & Business By cover art

Afrobility: Africa Tech & Business

By: Olumide Ogunsanwo & Bankole Makanju
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  • Summary

  • Stories and analyses of African technology companies
    Olumide Ogunsanwo & Bankole Makanju
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Episodes
  • #75: eTranzact - How Nigeria's pioneering payments and switching platform is serving businesses and governments across Africa

    #75: eTranzact - How Nigeria's pioneering payments and switching platform is serving businesses and governments across Africa
    Feb 16 2024
    Overview: Today, we’re going to explore eTranzact - the African payments and switching platform. We’ll discuss the story across the following areas: First, Nigerian payments context  Second, eTranzact's early history Third, Product & monetization strategy Fourth, Competitive positioning  Fifth, Overall outlook This episode was recorded on Feb 11, 2024 Companies discussed: eTranzact, Interswitch, Unified Payment Services Limited (UPSL), Systemspecs (Remita), Paystack, Flutterwave, Moniepoint, Paga, OPay, MTN & Airtel. Business concepts discussed: Mobile money, Payments Collections, Payments ecosystem, payments partnerships strategy, card networks, payments infrastructure, low-end disruption, banking regulation & payments M&A strategy Conversation highlights: (00:57) - What is eTranzact and why we’re talking about it (07:43) - Context of Nigeria’s payment sector before eTranzact (16:45) - eTranzact founding story (35:46) - Growth and geographic expansion (45:10) - Product strategy (01:02:56) - Monetization strategy (01:20:41) - Competition (1:31:10) - Bankole’s overall thoughts and outlook (1:34:38) - Olumide’s overall thoughts and outlook (1:43:20 - Recommendations and small wins Olumide’s recommendations & small wins: Interested in investing in Africa Tech with Olumide: Read about Adamantium fund & contact me at olumide@afrobility.com. Founders looking for funding: If you're a B2B founder working on Education, Health, Finance or food, please contact me for funding at olumide@afrobility.com Checkout my FIREDOM book = FIRE (Financial Independence, Retire Early) + Freedom = personal finance and financial independence book. Website, Read: Substack Newsletter & Buy: Print, eBook or Audiobook) Recommendation: Never Enough (Loren Allred). Incredible. I can listen to it on repeat for the whole day.  Recommendation: La Bachata (Maniel Turizo). Dope shit. Recommendation: "Someone You Loved". Not the original but a fabulous cover. Best line, "I was getting kinda used to being someone you loved". Listen to the 3rd verse when they sing simultaneously. Incredible! Recommendation: A Million Miles Away movie. It is a biographical drama film about the life of José Hernández, a Mexican-American migrant farm  Small win: Booked Cirque Du Soleil show. Looking forward to it. Bankole’s recommendations & small wins: Recommendation: Comma - Burna Boy && Wolfram|Alpha as the Way to Bring Computational Knowledge Superpowers to ChatGPT Small win: Clean shaven + the Nigerian AFCON semifinal win only to lose in the final a few hours after recording :(  Other content: History of Web Acquiring in Nigeria && Atlas Copco on Invest Like The Best && An Empirical Examination of Why Mobile Money Schemes Ignite in Some Developing Countries but Flounder in Most  Listeners: We’d love to hear from you. Email info@afrobility.com with feedback! Founders & Operators: We'd love to hear about what you're working on, email us at info@afrobility.com Investors: It would be great to link up with you. Contact us at info@afrobility.com Join our insider mailing list where we get feedback on new episodes & find all episodes on Afrobility.com
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    1 hr and 49 mins
  • #74: Moove - How the mobility fintech is providing vehicle financing to mobility entrepreneurs across Africa and the rest of the world

    #74: Moove - How the mobility fintech is providing vehicle financing to mobility entrepreneurs across Africa and the rest of the world
    Jan 23 2024

    Overview: Today, we’re going to explore Moove, the mobility fintech. We’ll discuss the story across the following areas:

    1. African mobility and transportation context

    2. Moove's launch & early history

    3. Product & monetization strategy

    4. Competitive positioning & potential exit options

    5. Our overall outlook.

    This episode was recorded on Jan 14, 2024

    Companies discussed: Moove, Uber, Lyft, Autochek, Cars45, GoKada, Creditas, Swvl, Lori, Sendy & FairMoney

    Business concepts discussed: Revenue-based financing, asset-based lending, Ridesharing & Mobility entrepreneurship

    Conversation highlights:

    • (01:20) - What Moove does and why we’re talking about it

    • (06:57) - Context of mobility and public transportation in Nigeria

    • (21:50) - Founders’ background

    • (27:50) - Moove founding and early history

    • (32:16) - Fundraising

    • (43:20) - Growth and Geographical Expansion

    • (48:15) - Partnerships

    • (1:07:26) - Product and Monetization Strategy

    • (1:28:44) - Metrics

    • (1:33:50) - Competition and options for exit

    • (1:53:10) - Olumide’s overall thoughts and outlook

    • (2:09:07) - Bankole’s overall thoughts and outlook

    • (2:26:12) - Recommendations and small wins

    Olumide’s recommendations & small wins:

    • Interested in investing in Africa Tech with Olumide: Read about Adamantium fund & contact me at olumide@afrobility.com. Founders looking for funding: If you're a B2B founder working on Education, Health, Finance or food, please contact me for funding at olumide@afrobility.com

    • Checkout my FIREDOM book = FIRE (Financial Independence, Retire Early) + Freedom = personal finance and financial independence book. Website, Read: Substack Newsletter & Buy: Print, eBook or Audiobook)

    • Recommendation: The Gap and The Gain (by Benjamin Hardy & Dan Sullivan: Book about mindset and approach to life, measuring success, fulfilment and happiness.

    • Recommendation: Be Useful: Seven Tools for Life (Arnold Schwarzenegger): Great book by the legend about principles to approach life to get what you want. At this point, I've read all his books and can recommend them all. Arnold records the audiobook end-to-end by himself so be ready for awesomeness

    • Small win: Completely revamped by Body Skincare after getting deep into research about this


    Bankole’s recommendations & small wins:

    • Recommendation: Money Maze Podcast - Interview with the CEO of De Beers && We are different from all other humans in history && The Reality of the Danish Fairytale 

    • Small win: Successful visa application to South Africa

    • Other content: Nigeria’s Secured Lending Opportunity - bankole.org 

    Listeners: We’d love to hear from you. Email info@afrobility.com with feedback!

    Founders & Operators: We'd love to hear about what you're working on, email us at info@afrobility.com

    Investors: It would be great to link up with you. Contact us at info@afrobility.com


    Join our insider mailing list where we get feedback on new episodes & find all episodes on Afrobility.com
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    2 hrs and 43 mins
  • #73: AFEX (Africa Exchange) - How the commodities exchange is facilitating commodity trade by offering training, credit, storage to farmers & providing investment solutions to financial partners

    #73: AFEX (Africa Exchange) - How the commodities exchange is facilitating commodity trade by offering training, credit, storage to farmers & providing investment solutions to financial partners
    Dec 31 2023
    Overview: Today, we’re going to explore AFEX, the African commodities exchange. We’ll discuss the story across the following areas: African Agriculture context AFEX's launch & early history Product & monetization strategy Competitive positioning & potential exit options Overall outlook. This episode was recorded on Dec 24, 2023 Companies discussed: AFEX, EAX (East African Commodity Exchange), Tony Elumelu Foundation, Heirs Holdings, Apollo Agriculture, NCX, Cargill, Louis Dreyfuss, 50 Ventures & Berggruen Charitable Trust Business concepts discussed: Agriculture technology (AgTech, AgriTech or AgroTech), Agribusiness marketplaces, farming financing, Farmer market access opportunities, Agriculture insurance strategy, Commodity trading & Internal Entrepreneurship (Incubated company strategy). Conversation highlights: (01:10) - What Afex is and why we’re talking about it (08:36) - Context of agriculture in Africa (21:49) - AFEX Founding story (33:28) - Fundraising (39:56) - Growth, geographical expansion and partnerships (49:42) - Product strategy, monetization and growth (59:14) - Cost structure, revenue and margins (1:10:00) - Business and user metrics (1:13:14) - Competition and options for exit (1:21:02) - Bankole’s overall thoughts and outlook (1:34:25) - Olumide’s overall thoughts and outlook (1:47:45) - Recommendations and small wins Olumide’s recommendations & small wins: Interested in investing in Africa Tech with Olumide: Read about Adamantium fund & contact me at olumide@afrobility.com. Founders looking for funding: If you're a B2B founder working on Education, Health, Finance or food, please contact me for funding at olumide@afrobility.com Checkout my FIREDOM book = FIRE (Financial Independence, Retire Early) + Freedom = personal finance and financial independence book. Website, Read: Substack Newsletter & Buy: Print, eBook or Audiobook) Recommendation: I went back and re-read some of my classic books: How I found freedom in an Unfree world (Harry Browne), Don't Sweat the Small Stuff and It's All Small Stuff (Richard Carlson) & A Guide to the Good Life - The Ancient Art of Stoic Joy (William B. Irvine) Small win: Hiking with new friends in St Thomas. Cool Bankole’s recommendations & small wins: Recommendation: FiveBooks.Com - FiveBooks.com shares lists of the best five books on many topics, chosen by experts in that area Recommendation: Jeff Bezos on Lex Fridman Podcast. A rare Jeff Bezos long form interview.  Small win: Running while listening to Big 7 - Burna Boy Fact check: Tony Elumelu narrates How He Went from Second Class Lower Degree to Nigeria's Billionaire Other content: FT ranking: Africa's Fastest Growing Companies 2023 & AFEX Nigeria loses maize worth N85m to 'police raid'  Listeners: We’d love to hear from you. Email info@afrobility.com with feedback! Founders & Operators: We'd love to hear about what you're working on, email us at info@afrobility.com Investors: It would be great to link up with you. Contact us at info@afrobility.com Join our insider mailing list where we get feedback on new episodes & find all episodes on Afrobility.com
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    1 hr and 56 mins
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