Afrobility: Africa Tech and Business

Explore M-Kopa's journey as an asset financing platform that’s transforming access to consumer products in Africa. Delve into the challenges of electricity access across the continent and Kenya's progress. Discover the founders' backgrounds, innovative product strategies, and early fundraising efforts. Learn how M-Kopa's pay-as-you-go solar solutions evolved and expanded into smartphones and insurance. The discussion also highlights competition, exit strategies, and consumer benefits alongside the industry's risks.

Overview: Today, we’re going to have a creator roundtable to discuss the African tech ecosystem. We’ll discuss the biggest 2022 moments in Africa Tech & our hopes for the tech ecosystem in 2023. This episode was recorded on Dec 10, 2022 Companies discussed: Flutterwave, FTX, 54gene, Swvl, Chipper Cash, TeamApt (Moniepoint), QED, Binance, Remitly, Brimore, Shoprite, & Jumia Business concepts discussed: Economic recessions, fundraising, bootstrapping, Cryptocurrency, M&A, Creator monetization & Pan-African Expansion Conversation highlights: (07:35) - Biggest 2022 moments   (00:53) - Impact of Recession on Africa Tech (1:00:05) - What we would like to see in 2023 (1:28:00) - Creator Q&A (2:00:24) - Recommendations & Small Wins Olumide: Recommendation: Knives Out 2 (Movie). Excellent and funny sequel :) Win: Opened Fidelity HSA. I had used Vanguard only previously. Fidelity has nice functionality & UX (especially for HSAs) Bankole: Recommendation: Unauthorized Shein boutiques are popping up across Mexico & Co-founding considered harmful Win: Seeing Emeka in person Emeka: Recommendation: Magical Text Expander (tool), Friction (article), Afridigest (newsletter) Win: Finally meeting & taking a picture with the Oga of Ogas, Bankole. Plus: Afridigest crossing 4500 page followers on LinkedIn — help us on the push to 5000! Other content: Why super apps are proliferating across emerging markets, The hierarchy of venture opportunities in emerging markets Justin: Recommendation: ChatGPT & the Dissect podcast Small win: My alma mater the University of Michigan beating our rivals Ohio State in football for the second year in a row. Getting to spend a lot of in-person quality time with people in the African tech ecosystem over the past few weeks in Cape Town Samora: Recommendation: “Founders Podcast” by David Senra & Michael Jordan The Life - by Roland Lazenby Big Win - Getting my 2nd born daughter Other content: Amp it Up by Frank Slootman is a great read - Narco Saints on Netflix is superb! 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

Overview: Today, we’re going to talk about Reliance Health, the African HealthTech company - we’ll explore the Reliance Health story across the following areas: African health context Reliance Health's early history Product & monetization strategy Competitive positioning & potential exit Overall outlook This episode was recorded on October 30, 2022 Companies discussed: Reliance Health, Y Combinator (YC), Hygeia HMO, CribMD, AXA Mansard, RedCare & BIMA Health Business concepts discussed: Insurance monetization, Insurance partnerships, consumer distribution, telco partnerships, product development, consumer market penetration & pricing strategy Conversation highlights: (01:00) - Intro and why we’re talking about Reliance Health (06:12) - Context of Africa and Nigeria’s healthcare (13:03) - Reliance Health Founding + Early History (39:25) - Fundraising & Geo expansion (52:16) - Product strategy and monetization (1:36:00) - Competition and options for exit (1:45:57) - Bankole’s overall thoughts and outlook (1:59:57) - Olumide’s overall thoughts and outlook (2:14:17) - Recommendation 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 Recommendation: Kinky Boots: Musical show in NYC. It was incredible! Recommendation: Paying for Status: Talks about loyalty strategy. Reward programs + finance + customer loyalty strategy article. I love it. Recommendation: The Man Who Solved the Market: How Jim Simons Launched the Quant Revolution (by Gregory Zuckerman) Small win: Finishing Included VC fellowship. It was incredible especially meeting everyone in Included VC live in Barcelona la Bankole’s recommendations & small wins: Recommendation: Podcast: Sandy Kemper of C2FO on Fintech One-on-One & Podcast: Invest Like The Best with Karen Karniol-Tambour Small win: Getting ready for upcoming travel Other content: Podcast: Femi Kuti on Aid Evolved 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

Overview:  Today we’re going to talk about African Insurtech. We’ll discuss the consumer insurance landscape & analyze InsurTech players. This episode was recorded on October 17, 2022 Companies discussed: Reliance Health, BIMA, Naked Insurance, Pineapple Insurance, Amenli, Creditas, Minutos Seguros, Acko, Policy Bazaar, Casava Insurance, Lami, Curacel, Turaco, Amanleek & Avidea Business concepts discussed: New product development, consumer market penetration & pricing strategy Conversation highlights: (01:20) Consumer InsurTech context (12:30) Insurtech in other emerging markets - India (23:40) Insurtech in other emerging markets - Brazil (34:50) Insurance context in Africa (47:17 ) Southern Africa startups (1:02:20) Western Africa startups (1:14:19) Eastern Africa startups (1:24:34) Northern Africa startups (1:31:42) Olumide’s & Bankole’s thoughts (1:55:05) Recommendations & small wins Olumide: Interested in investing in Africa Tech : 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 Recommendations: Miracle morning (Hal Elrod), 5AM club (Robin Sharma), How I found freedom in an unfree world (Harry Browne) & Early retirement extreme (Jacob Lund Fisker) 3 songs: Burna Boy - For My Hand (ft Ed Sheeran), Black Sherif - Second Sermon (Remix ft Burna Boy) & Craig David - I know you (ft Bastille) - Shoutout to my friend Jason Mothersill Small win: House party with friends Bankole: Recommendation: Ku Lo Sa - Oxlade, HBO - House of Dragons & Facebook Love - Jaywon / Essence  Small win: Africa Tech Mixer in New York Other content: Baobab Network report on InsurTech & Standard Bank report All episodes at afrobility.com

Overview: Today, we’re going to talk about Thrive Agric, the Nigerian Agricultural technology company - we’ll explore Thrive Agric's story across 5 areas: First we'll start with some context about African agriculture Thrive Agric's launch & early history Product & monetization strategy Competitive positioning & potential exit options Overall outlook This episode was recorded on September 25 2022 Companies discussed: Thrive Agric, Apollo Agriculture & FarmCrowdy Business concepts discussed: Agricultural Technology (AgriTech or AgTech), smallholder farmers acquisition strategy, Agriculture financing, Crowdfunding, Agriculture value and supply chains & Debt financing Conversation highlights: (10:41) - Africa Agriculture context (19:38) -  Nigeria Agriculture context  (26:14) - Nigeria crowdfunding backgroun (32:30) - Founders’ background and launch story (46:48) - Fundraising (55:47) - Product and monetization strategy, (1:09:15) - Competition & options for exit (1:19:20) - Bankole’s overall thoughts and outlook (1:24:45) - Olumide’s overall thoughts and outlook (1:32:25) - 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 Recommendation: Jim Rohn - How to change your life video - Incredible. He just drops non-stop knowledge bombs. Remarkable Recommendation: Toucan chrome extension to learn languages Small win: Exercise of writing 50 goals. Brought up a lot of interesting ideas. Shout to Alan Donegan for facilitating this Other content: A Thrive Agric Story. One Farmer at a Time. Bankole’s recommendations & small wins: Recommendation: AI And The Limits Of Language, Lindy Hacker News &  Lying For Money Small win: Strength workouts Other content: Asake - Mr Money with the vibe, ThriveAgricPR - product overview, Leadway Insurance response on Twitter, SEC Nigeria rules on Crowdfunding,  Invest Like The Best - Jeff Jordan & Kevin Systrom on Lex Fridman All episodes on Afrobility.com

Overview: Today, we’re going to talk about Apollo Agriculture, the Kenyan AgTech company - we’ll explore the Apollo story across the following areas African agriculture context Apollo's launch & early history Product & monetization strategy Competitive positioning & exit options Overall outlook This episode was recorded on Aug 21, 2022 Companies discussed: Apollo Agriculture, The Climate Corporation (WeatherBill), Pula, FarmDrive, Monsanto, FairMoney & Kuda Bank Business concepts discussed: Agricultural Technology (AgriTech or AgTech), smallholder farmers, Risk mitigation, Debt funding, Customer acquisition costs (CAC) & Customer lifetime value (LTV, CLV) Conversation highlights: (06:10) - Agriculture context in Africa (21:00) - Context on Agriculture in Kenya (27:33) - Apollo founding story and founder background (40:55) - Fundraising and growth (55:14) - Product and monetization strategy (1:17:58) - Competition and exit options (1:27:53) - Bankole’s overall thoughts and outlook (1:34:50) - Olumide’s overall thoughts and outlook (1:49:36) - 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 Recommendation: Little Ways The World Works: Article by Morgan Housel. Great article talking about how learning from different fields is very helpful. He goes over learnings from evolution, astronomy, biology, anatomy, etc Recommendation: University of Berkshire Hathaway: Auto recommended by Kindle. Great. Chronicles 30 years of Berkshire Hathaway Annual meeting discussions Small win: Beach gathering with friends, it was fun Small win: Just got back from NYC 30 minutes before recording this episode, a lot of fun Bankole’s recommendations & small wins: Recommendation: Soul In The Game - Vitaly Katsenelson && Asake - Terminator &&  For My Hand - Burna Boy and Ed Sheeran Small win: Beat my previous Readwise streak of 190 days! Other content: CIA Factbook on Kenya, FAOStat Food production, Interdependence and modularity - Christensen institute ,  All I Want To Know Is Where I'm Going To Die So I'll Never Go There: Buffett & Munger – A Study in Simplicity and Uncommon, Common Sense Investors, Operators, Entrepreneurs - We’d love to hear from you. Please email info@afrobility.com to share feedback

Overview:  Today, we’re going to talk about Swvl, the Egyptian and Dubai based mobility platform. We’ll explore the Swvl story across 5 areas: Egypt transportation context Swvl's early history Product & monetization strategy Swvl's SPAC public offering Overall outlook. This episode was recorded on July 17, 2022 Companies discussed: Swvl, Careem, Uber, Treepz & Rocket Internet Business concepts discussed: Mobility strategy, Ridesharing, Bus sharing, Public transportation, infrastructure dependencies, IPOs & Special Purpose Acquisition Companies (SPACs) Conversation highlights: (01:00) - Intro and why we’re discussing this topic (06:15) - Context on Egypt and Africa ridesharing (13:50) - Founders’ background and Swvl founding (25:22) - Fundraising and geographical expansion (31:15) - Expansion strategy and acquisitions (38:12) - Product and monetization strategy (59:16) - Competition and SPAC (1:16:55) -  Bankole’s overall thoughts and outlook (1:30:15) - Olumide’s overall thoughts and outlook (1:44:35) - Recommendations and small wins Olumide’s recommendations & small wins: Recommendation:  The Power Law book - About the history of venture capital Recommendation: Nas - One Mic Small win: Upgraded RAM in my old laptop, I haven't done that in a while. It feels awesome to do something mechanical like that 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 Bankole’s recommendations & small wins: Recommendation: What Does A Batsman See & Matter - Reading App & Build by Tony Fadell Small win: Started taking long walks again. No music, just walks over an hour Other content: More Money Than God - Sebastian Mallaby & Dial 911 and Wall Street answers - NY Times 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

Overview: Today, we discuss Konga, the Nigerian e-commerce company. We’ll explore the Konga story across 5 areas: We'll give some context about the Nigerian e-commerce sector Konga's early history Product & Monetization strategy Konga sale Overall outlook This episode was recorded on July 3, 2022 Companies discussed: Konga, Jumia, Naspers, Kinnevik, Jiji, OLX, Amazon, Takealot, Yudala & Zinox Business concepts discussed: Ecommerce, marketplaces, classifieds, fundraising strategy, Blitzscaling risks, market readiness & Africa expansion Conversation highlights: (01:13) - Konga background and why we’re talking about it (09:19) - Nigeria background and context (14:00) - Nigeria commerce  context c. 2012 (17:00) - Background on Sim Shagaya (29:02) - Konga launch strategy and fundraising (45:55) - Konga monetization (50:51) - Competition with Jumia (1:04:35) - Konga’s business lines (1:08:10) - Konga’s declining fortunes and sale to Zinox (1:27:00) - Lessons for startups from Konga (1:39:28) - Bankole’s overall thoughts and outlook (1:53:57) - Olumide’s overall thoughts and outlook (1:57:34) - Recommendations and small wins Olumide’s recommendations & small wins: Recommendation: Eboys - Book about the history of Benchmark Recommendation: Different kinds of smart (Morgan housel blog post). Article so good that I subscribed to his entire blog Small win: Listening to 20MinVC episode with Fabrice Grinda (OLX founder) the day after I published Afrobility OLX episode 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 Bankole’s recommendations & small wins: Recommendation: Business Breakdowns Podcast - Amazon Aggregators Small win: in-person meetings with friends at work Other content: Chinese E-Commerce to Surpass 50% of Total Retail Sales | BoF - link Listeners, Operators & Investors: Email info@afrobility.com, we’d love to partner or get your feedback. All episodes on Afrobility.com

Overview: Today, we’re going to talk about OLX -  the classifieds & marketplace platform. We’ll explore the OLX Africa story across 4 areas: OLX's early history OLX's growth in other emerging markets OLX Africa's early history & Naspers acquisition Naspers OLX exit from Africa This episode was recorded on June 5, 2022. Companies discussed: OLX, Jiji, Craigslist, Konga, Naspers, Kalahariads, Dealfish, Pricecheck, Mocality & Tradestable Business concepts discussed: Classifieds platforms, classifieds monetization, M&A strategy, e-commerce, social commerce, lift and shift business models & international expansion Conversation highlights: (01:30) - OLX context (06:30) - How classifieds work (12:00) - OLX founding and early history (26:03) - OLX entry into other emerging markets (31:10) - OLX entry into Africa (45:32) - Product and monetization strategy (58:17) - Discussing OLX’s Africa exit (1:22:54) - Olumide’s overall thoughts and outlook (1:10:58) - Bankole’s overall thoughts and outlook (1:38:39) - Recommendations and small wins Olumide’s recommendations & small wins: Recommendation: Microsoft 365. I’ve used it for 17 years and it just gets better and better Small win: Using my old Lenovo ThinkPad from 2016. My computer crapped out on Friday and so I had to dust the cobwebs and it still works 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. Bankole’s recommendations & small wins: Recommendation: Cryptocurrency 161,  Reversion to the mean: the real long COVID - by John Luttig & Heartwarming story - Installing a payphone in my house Small win: 4 mile run after a long break Other content: Why I am leaving OLX - Fabrice Grinda, Margin Call - IMDB & Larry Tesler - Inventor of Copy and Paste 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

Overview: Today, we’re going to talk about Jiji - the African classifieds platform. We’ll explore the Jiji story across 6 areas: Classifieds platforms in other emerging markets Classifieds platforms in Africa Jiji’s early history Jiji’s product & monetization strategy Jiji’s competitive positioning & potential exit options overall outlook. This episode was recorded on May 15 2022. Companies discussed: Jiji, Genesis Group, Naspers, OLX, Craigslist, Avito.ru, Adevinta, Jumia, Konga, Cars45, Cheki.ng, Autochek, Tonaton, Saltside Technologies, Bikroy, Dubizzle, Kalahari, Autotrader & Property24 Business concepts discussed: Classifieds platforms, classifieds monetization, M&A strategy, e-commerce, social commerce, agency banking & marketplace  Conversation highlights: (01:36) - Why we’re talking about GG today (09:51) - Classifieds platforms in other emerging markets (23:15) - Africa classifieds context (27:12) - OLX in Africa (36:48) - Jiji founding and early history (45:33) - Fundraising and Growth (1:03:09) - Product and monetization strategy (1:09:33) - Competition and options for exit (1:30:06) - Olumide’s overall thoughts and outlook (1:32:13) - Bankole’s overall thoughts and outlook (1:38:55) - Recommendations and small wins Olumide’s recommendations & small wins: Recommendation: Re-watched Amelie - Great movie Small win: Setup 2nd whiteboard in my room. Fun times ahead 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 Bankole’s recommendations & small wins: Recommendation: Last Last - Burna Boy & Business Breakdowns Podcast - DigitalBridge Small win: Planting season in Seattle :) Other content: Tweet about Twilio stock-based compensation & History of the United States in 5 crashes Investors, Operators, Entrepreneurs - We’d love to hear from you. Please email info@afrobility.com to share feedback or propose topics you’d like to hear. Join our insider mailing list where we get feedback on new episodes & find all episodes on Afrobility.com