#8. Reliance Jio - How India's largest company enabled a mobile revolution & how Africa can also have a "Jio Moment"
Overview: Today we’re going to talk about the potential for a Reliance Jio moment in Africa. We'll start with some context of the Reliance parent group, its telco subsidiary - Reliance Jio (& its digital services subsidiary Jio Platforms) & their impact on India. Then we'll end by discussing ways Africa can also have a Reliance Jio moment. This episode was recorded on July 26, 2020. \n \n\n Companies discussed: Reliance group, Reliance Jio / Jio Platforms, Dangote Group, Remgro, Transcorp, Naspers, Safaricom / Vodacom, Transsion, América Móvil & MTN \n \n\n Business concepts discussed: India Tech, vertical integration, Low pricing strategy, import substitution, Industrialization, debt financing & equity fund raising, telecommunications & competition \n \n Conversation highlights:\n\n (00:30) - Why the Reliance Jio story is important to Africa\n (02:30) - Background on Reliance parent group - founding & IPO\n (05:20) - Reliance backward integration & expansion\n (07:20) - Similarities to African conglomerates\n (11:20) - Starting Reliance Jio Telecoms\n (13:40) - Jio impact on competition, Indian economy & consumers\n (19:20) - Jio 2020 fundraising\n (24:50) - How can we have a "Jio moment" in Africa?\n (26:30) - Western Africa candidates to create a Jio moment\n (29:30) - Southern Africa candidates to create a Jio moment\n (36:10) - Eastern Africa candidates to create a Jio moment\n (37:00) - African governments or Non-African candidates to create a Jio moment\n (42:50) - Bankole’s overall thoughts & outlook\n (47:08) - Olumide’s overall thoughts & outlook\n (51:10) - Bankole’s recommendation & small wins\n (55:07) - Olumide’s recommendation & small wins\n\n \n Olumide’s recommendations & small wins:\n\n Designing your life book (by Bill Burnett & Dave Evans)\n "Earnings calls" app by Borsa Finance --> It's earnings season!\n Kuda bank --> First digital-only Nigerian bank\n\n \n Bankole’s recommendations & small wins:\n\n You're Not Listening:
#31: Sports betting & gambling tech - The rise & expansion of betting services across Africa
Overview: Today we’re going to talk about Sports betting & gambling tech in Africa. We share some context about betting in developed and emerging markets, analyze betting tech companies across Africa & end with our overall outlook. This episode was recorded on Jun 13, 2021.\n \n Companies discussed: BetKing, Betway, Bet9ja, BetBonanza, SportPesa, BetFair, Bet365, Flutter entertainment, Paddy Power, Walletec, 22Bet, William Hill & Multichoice\n \n Business concepts discussed: Gambling, Betting, Tech policy, Taxation strategy & Government Tech\n \n Conversation highlights:\n\n (01:00) - Why we’re talking about sports betting / gambling + how it works \n\n (11:10) - What betting looks like in the UK, a developed market \n\n (18:20) - What betting / gaming looks like in a developing market, India \n\n (21:20) - Context of sports betting and gaming in Africa \n\n (31:57) - Gambling regulation across African countries \n\n (37:39) - Interesting West African betting / gaming startups \n\n (43:32) - Interesting South African betting / gaming startups \n\n (49:40) - Interesting East African betting / startups \n\n (57:30) - Betting in North Africa \n\n (1:00:17) - Bankole’s overall thoughts and outlook \n\n (1:10:09) - Olumide’s overall thoughts and outlook \n\n (1:16:05) - Recommendations and small wins \n\n\n \n Olumide’s recommendations, small wins & open questions:\n\n Recommendation: The Ride of a lifetime (by Bob Iger). Loved it. Email [email protected] with autobiography recommendations \n\n Small win: Las Vegas last weekend (fun getaway) with friends. :) \n\n Other content: TBD \n\n\n \n Bankole’s recommendations, small wins & open questions:\n\n Recommendation: Caught In The Study Web & Feeling by Ladipoe \n\n Small win: UFC 263. Ask about Izzy. Aya bi Ekun. \n\n Other content: Nigeria needs to raise tobacco taxes, Collar option strategy & Brandon Moreno UFC 263 Octagon interview \n\n\n \n We’d love to hear from you. Please email [email protected]
#20: Paystack - How the FinTech payments platform went from Y Combinator to a $200M Stripe exit in 5 years
Overview: Today, we’re going to talk about Paystack - the African payments infrastructure company that was acquired by Stripe in 2020 October. We’ll give some context of the Nigerian payments sector before 2015, Paystack's founding, early history, acquisition by Stripe & end with our views on its future outlook. This episode was recorded on January 10th, 2021.\n \n Companies discussed: Paystack, Stripe, Flutterwave, Interswitch & Y Combinator (YC)\n \n Business concepts discussed: Payments infrastructure strategy, low-end disruption, product-market fit (PMF), capital fundraising (Angels, Strategic investors, VCs), payments infrastructure & payments M&A strategy\n \n Conversation highlights:\n\n (01:00) - Why we’re talking about Paystack \n\n (03:12) - Payments landscape before Paystack \n\n (06:15) - Founders’ background - Ezra Olubi and Shola Akinlade \n\n (17:00) - Paystack products and services \n\n (22:46) - Paystack fundraising - Y Combinator, Angels, Seed & Series A \n\n (31:18) - Broader payment ecosystem in Nigeria, transaction volumes, etc \n\n (43:30) - Stripe’s acquisition of Paystack in 2020 October \n\n (52:10) - Bankole’s overall thoughts and future outlook \n\n (58:17) - Olumide’s overall thoughts and future outlook \n\n (1:14:02) - Recommendations, small wins and open questions \n\n\n \n Olumide’s recommendations, small wins & open questions:\n\n Recommendation: Intelligence Trap (Why smart people make dumb mistakes) \n\n Recommendation: Matt Levine (Money Stuff): Awesome Bloomberg columnist back from paternity leave \n\n Small win: Using Project Gutenberg for free eBooks. Used it to get Adam Smith - Wealth of Nations. \n\n Other content: Paystack fundraising, valuations & founders ownership (detailed spreadsheet estimates) \n\n Other content: Paystack is joining Stripe video announcement \n\n Open question: What will be the biggest impact of the Stripe acquisition on the Africa tech ecosystem when we look back in 2025? \n\n\n \n Bank
#33: Chipper Cash - How the FinTech platform started from African remittances to become the fastest unicorn in Africa Tech history
Overview: Today, we’re going to talk about Chipper Cash - African Fintech payments & remittances player. We’ll explore the Chipper story across 6 areas:\n\n Intra-Africa remittances context\n Global remittances (Outside Africa to Africa) context\n Chipper Cash’s launch, early history, growth & fundraising\n Chipper Cash's Product & monetization strategy\n Its' competitive positioning, potential exit options\n End with our overall outlook. \n\n\n This episode was recorded on July 11 & Aug 1, 2021.\n \n Companies discussed: Chipper Cash, Venmo, PayPal, Square, Flutterwave, EcoBank, Safaricom, Sendwave, MTN, Airtel, Deciens Capital & Liquid2 Ventures\n \n Business concepts discussed: Consumer FinTech (Personal Finance OS) monetization strategy, FinTech exit strategy, Intra-African Remittances, International remittances, Cryptocurrency, Decentralized Finance, Stock trading & closed-loop payment networks\n \n Conversation highlights:\n\n (01:07) - Why we’re talking about Chipper Cash\n (06:20) - Intra-African trade context\n (13:12) - Intra- African remittances context\n (21:40) - Global remittances context\n (36:50) - Founder backgrounds - Ham Serunjogi and Majid Moujaled\n (46:06) - Chipper Cash founding and early history\n (52:30) - Fundraising and Growth - Angel, Series A, B & C\n (1:07:25) - Product strategy\n (1:08:25) - Monetization strategy\n (1:35:24) - Competition - horizontal and vertical\n (1:45:55) - Potential exit scenarios\n (1:54:12) - Bankole’s overall thoughts and outlook\n (2:01:32) - Olumide’s overall thoughts and outlook\n (2:08:40) - Recommendations and small wins \n\n\n \n Olumide’s recommendations, small wins & open questions:\n\n Recommendation: Nailing Capital vs Scaling Capital (by Sajith Pai) , Essentialism (by Greg McKeown) & Owning Chinese Companies Is Complicated (by Matt Levine from Bloomberg)\n Small win: American Express Platinum new benefits: Clear! & Audible! \n\n\n \n Bankole’s recommendations, small wins & open questi
#10. MTN - How Africa's largest telco grew to dominate Africa and expand to other emerging markets
Overview: Today we’re going to talk about MTN - The largest telco in Africa, we’ll discuss its founding & early history, success in Africa, global expansion, diversification into non-telco businesses & end with our views on its future outlook \n\n Companies discussed: MTN Group (M-Cell, MTN Nigeria, MTN Irancell), Investcom, Telkom, Vodafone (Vodacom & Safaricom), Naspers (Multichoice, M-Net) & Transsion\n \n Business concepts discussed: Telco diversification, Telco license acquisition strategy, Fintech services, messaging platforms, conglomerates, government private sector influence & developing markets expansion.\n \n Conversation highlights:\n\n (01:03) - Why we’re talking about MTN today\n (03:34) - MTN founding, early history and context\n (10:15) - MTN’s African expansion strategy 1997+\n (12:30) - MTN expansion into Nigeria, market share and controversies\n (24:42) - Global expansion into Iran and M&A with Investcom\n (28:20) - Contrasting expansion to other African telcos\n (30:50) - Why MTN was successful expanding outside Africa\n (33:30) - MTN’s non-telco businesses\n (43:40) - MTN 2020 asset sales and refocus on Africa business\n (46:00) - MTN today - financials, segment growth, etc\n (48:00) - Why they’re leaving the Middle East \n (53:40) - Bankole’s overall thoughts and outlook\n (55:44) - Olumide’s overall thoughts and outlook\n (62:30) - Olumide’s recommendations and small wins\n (66:04) - Bankole’s recommendations and small wins\n\n \n Olumide’s recommendations & small wins:\n\n Recommendation: Something Ventured (2011 Documentary about the origin of the VC industry)\n Recommendation: My life philosophy (JD Roth)\n Recommendation: Unusual ideas about self-care (by Paula Pant)\n Small win: Amazon Fresh Prime for groceries (reminds of 2010 when I used to order groceries from Tesco in the UK)\n\n \n Bankole’s recommendations & small wins:\n\n Recommendation: Collection of notable essays in Notion - Link\n Small win: Daily long
#31: Sports betting & gambling tech - The rise & expansion of betting services across Africa
Overview: Today we’re going to talk about Sports betting & gambling tech in Africa. We share some context about betting in developed and emerging markets, analyze betting tech companies across Africa & end with our overall outlook. This episode was recorded on Jun 13, 2021.\n \n Companies discussed: BetKing, Betway, Bet9ja, BetBonanza, SportPesa, BetFair, Bet365, Flutter entertainment, Paddy Power, Walletec, 22Bet, William Hill & Multichoice\n \n Business concepts discussed: Gambling, Betting, Tech policy, Taxation strategy & Government Tech\n \n Conversation highlights:\n\n (01:00) - Why we’re talking about sports betting / gambling + how it works \n\n (11:10) - What betting looks like in the UK, a developed market \n\n (18:20) - What betting / gaming looks like in a developing market, India \n\n (21:20) - Context of sports betting and gaming in Africa \n\n (31:57) - Gambling regulation across African countries \n\n (37:39) - Interesting West African betting / gaming startups \n\n (43:32) - Interesting South African betting / gaming startups \n\n (49:40) - Interesting East African betting / startups \n\n (57:30) - Betting in North Africa \n\n (1:00:17) - Bankole’s overall thoughts and outlook \n\n (1:10:09) - Olumide’s overall thoughts and outlook \n\n (1:16:05) - Recommendations and small wins \n\n\n \n Olumide’s recommendations, small wins & open questions:\n\n Recommendation: The Ride of a lifetime (by Bob Iger). Loved it. Email [email protected] with autobiography recommendations \n\n Small win: Las Vegas last weekend (fun getaway) with friends. :) \n\n Other content: TBD \n\n\n \n Bankole’s recommendations, small wins & open questions:\n\n Recommendation: Caught In The Study Web & Feeling by Ladipoe \n\n Small win: UFC 263. Ask about Izzy. Aya bi Ekun. \n\n Other content: Nigeria needs to raise tobacco taxes, Collar option strategy & Brandon Moreno UFC 263 Octagon interview \n\n\n \n We’d love to hear from you. Please email [email protected]
#20: Paystack - How the FinTech payments platform went from Y Combinator to a $200M Stripe exit in 5 years
Overview: Today, we’re going to talk about Paystack - the African payments infrastructure company that was acquired by Stripe in 2020 October. We’ll give some context of the Nigerian payments sector before 2015, Paystack's founding, early history, acquisition by Stripe & end with our views on its future outlook. This episode was recorded on January 10th, 2021.\n \n Companies discussed: Paystack, Stripe, Flutterwave, Interswitch & Y Combinator (YC)\n \n Business concepts discussed: Payments infrastructure strategy, low-end disruption, product-market fit (PMF), capital fundraising (Angels, Strategic investors, VCs), payments infrastructure & payments M&A strategy\n \n Conversation highlights:\n\n (01:00) - Why we’re talking about Paystack \n\n (03:12) - Payments landscape before Paystack \n\n (06:15) - Founders’ background - Ezra Olubi and Shola Akinlade \n\n (17:00) - Paystack products and services \n\n (22:46) - Paystack fundraising - Y Combinator, Angels, Seed & Series A \n\n (31:18) - Broader payment ecosystem in Nigeria, transaction volumes, etc \n\n (43:30) - Stripe’s acquisition of Paystack in 2020 October \n\n (52:10) - Bankole’s overall thoughts and future outlook \n\n (58:17) - Olumide’s overall thoughts and future outlook \n\n (1:14:02) - Recommendations, small wins and open questions \n\n\n \n Olumide’s recommendations, small wins & open questions:\n\n Recommendation: Intelligence Trap (Why smart people make dumb mistakes) \n\n Recommendation: Matt Levine (Money Stuff): Awesome Bloomberg columnist back from paternity leave \n\n Small win: Using Project Gutenberg for free eBooks. Used it to get Adam Smith - Wealth of Nations. \n\n Other content: Paystack fundraising, valuations & founders ownership (detailed spreadsheet estimates) \n\n Other content: Paystack is joining Stripe video announcement \n\n Open question: What will be the biggest impact of the Stripe acquisition on the Africa tech ecosystem when we look back in 2025? \n\n\n \n Bank
#33: Chipper Cash - How the FinTech platform started from African remittances to become the fastest unicorn in Africa Tech history
Overview: Today, we’re going to talk about Chipper Cash - African Fintech payments & remittances player. We’ll explore the Chipper story across 6 areas:\n\n Intra-Africa remittances context\n Global remittances (Outside Africa to Africa) context\n Chipper Cash’s launch, early history, growth & fundraising\n Chipper Cash's Product & monetization strategy\n Its' competitive positioning, potential exit options\n End with our overall outlook. \n\n\n This episode was recorded on July 11 & Aug 1, 2021.\n \n Companies discussed: Chipper Cash, Venmo, PayPal, Square, Flutterwave, EcoBank, Safaricom, Sendwave, MTN, Airtel, Deciens Capital & Liquid2 Ventures\n \n Business concepts discussed: Consumer FinTech (Personal Finance OS) monetization strategy, FinTech exit strategy, Intra-African Remittances, International remittances, Cryptocurrency, Decentralized Finance, Stock trading & closed-loop payment networks\n \n Conversation highlights:\n\n (01:07) - Why we’re talking about Chipper Cash\n (06:20) - Intra-African trade context\n (13:12) - Intra- African remittances context\n (21:40) - Global remittances context\n (36:50) - Founder backgrounds - Ham Serunjogi and Majid Moujaled\n (46:06) - Chipper Cash founding and early history\n (52:30) - Fundraising and Growth - Angel, Series A, B & C\n (1:07:25) - Product strategy\n (1:08:25) - Monetization strategy\n (1:35:24) - Competition - horizontal and vertical\n (1:45:55) - Potential exit scenarios\n (1:54:12) - Bankole’s overall thoughts and outlook\n (2:01:32) - Olumide’s overall thoughts and outlook\n (2:08:40) - Recommendations and small wins \n\n\n \n Olumide’s recommendations, small wins & open questions:\n\n Recommendation: Nailing Capital vs Scaling Capital (by Sajith Pai) , Essentialism (by Greg McKeown) & Owning Chinese Companies Is Complicated (by Matt Levine from Bloomberg)\n Small win: American Express Platinum new benefits: Clear! & Audible! \n\n\n \n Bankole’s recommendations, small wins & open questi
#8. Reliance Jio - How India's largest company enabled a mobile revolution & how Africa can also have a "Jio Moment"
Overview: Today we’re going to talk about the potential for a Reliance Jio moment in Africa. We'll start with some context of the Reliance parent group, its telco subsidiary - Reliance Jio (& its digital services subsidiary Jio Platforms) & their impact on India. Then we'll end by discussing ways Africa can also have a Reliance Jio moment. This episode was recorded on July 26, 2020. \n \n\n Companies discussed: Reliance group, Reliance Jio / Jio Platforms, Dangote Group, Remgro, Transcorp, Naspers, Safaricom / Vodacom, Transsion, América Móvil & MTN \n \n\n Business concepts discussed: India Tech, vertical integration, Low pricing strategy, import substitution, Industrialization, debt financing & equity fund raising, telecommunications & competition \n \n Conversation highlights:\n\n (00:30) - Why the Reliance Jio story is important to Africa\n (02:30) - Background on Reliance parent group - founding & IPO\n (05:20) - Reliance backward integration & expansion\n (07:20) - Similarities to African conglomerates\n (11:20) - Starting Reliance Jio Telecoms\n (13:40) - Jio impact on competition, Indian economy & consumers\n (19:20) - Jio 2020 fundraising\n (24:50) - How can we have a "Jio moment" in Africa?\n (26:30) - Western Africa candidates to create a Jio moment\n (29:30) - Southern Africa candidates to create a Jio moment\n (36:10) - Eastern Africa candidates to create a Jio moment\n (37:00) - African governments or Non-African candidates to create a Jio moment\n (42:50) - Bankole’s overall thoughts & outlook\n (47:08) - Olumide’s overall thoughts & outlook\n (51:10) - Bankole’s recommendation & small wins\n (55:07) - Olumide’s recommendation & small wins\n\n \n Olumide’s recommendations & small wins:\n\n Designing your life book (by Bill Burnett & Dave Evans)\n "Earnings calls" app by Borsa Finance --> It's earnings season!\n Kuda bank --> First digital-only Nigerian bank\n\n \n Bankole’s recommendations & small wins:\n\n You're Not Listening:
#17: Interswitch - How the pioneering Nigerian fintech & payments platform became one of the most valuable private companies in Africa
Overview: Today, we’re going to talk about Interswitch, the African fintech payments company, we'll discuss its founding, early history, growth, place in the broader African fintech ecosystem & end with our views on its future outlook. This episode was recorded on Nov 29, 2020.\n \n Companies discussed: Interswitch, Telnet, Visa, Helios Investment Partners, Stripe, Flutterwave, Paystack & Jumia Pay\n \n Business concepts discussed: Nigerian Payments ecosystem, payments partnerships strategy, card networks, payments infrastructure, low-end disruption, banking regulation & payments M&A strategy\n \n Conversation highlights:\n\n (02:40) - Why Interswitch is important \n\n (10:50) - Nigeria payments ecosystem and pre-Interswitch context \n\n (18:12) - Interswitch founding \n\n (22:40) - Interswitch fundraising from Helios, Visa etc and expansion \n\n (34:24) - Interswitch competition across Nigeria’s payment landscape \n\n (40:34) - Interswitch today - size, financials, margins \n\n (45:17) - Interswitch relative to competitors \n\n (56:37) - Bankole’s general thoughts and outlook \n\n (1:02:15) - Olumide’s general thoughts and outlook \n\n (1:04:15) - Recommendations, small wins and open questions \n\n\n \n Olumide’s recommendations, small wins & open questions:\n\n Recommendation: Reddit FATFIRE thread: "What asymmetric bets are you currently placing? Good discussion. A little bit of crypto, a little bit of leveraged investments, some talk about options, individual stocks. \n\n Small win: Using Fitbit Inspire 2 for sleep tracking (switched from Oura ring) \n\n Other content: Visa's 2020-Feb Investor day (slide 124) (from Visa's investors site) \n\n Open question: What can we learn from the founding of interswitch? \n\n\n \n Bankole’s recommendations, small wins & open questions:\n\n Recommendation: Invest Like The Best podcast ft Nick Kokkonas \n\n Small win: Easy does it in my Fantasy Premier League this season. Not doing exceptionally or doing well. \n\n
#10. MTN - How Africa's largest telco grew to dominate Africa and expand to other emerging markets
Overview: Today we’re going to talk about MTN - The largest telco in Africa, we’ll discuss its founding & early history, success in Africa, global expansion, diversification into non-telco businesses & end with our views on its future outlook \n\n Companies discussed: MTN Group (M-Cell, MTN Nigeria, MTN Irancell), Investcom, Telkom, Vodafone (Vodacom & Safaricom), Naspers (Multichoice, M-Net) & Transsion\n \n Business concepts discussed: Telco diversification, Telco license acquisition strategy, Fintech services, messaging platforms, conglomerates, government private sector influence & developing markets expansion.\n \n Conversation highlights:\n\n (01:03) - Why we’re talking about MTN today\n (03:34) - MTN founding, early history and context\n (10:15) - MTN’s African expansion strategy 1997+\n (12:30) - MTN expansion into Nigeria, market share and controversies\n (24:42) - Global expansion into Iran and M&A with Investcom\n (28:20) - Contrasting expansion to other African telcos\n (30:50) - Why MTN was successful expanding outside Africa\n (33:30) - MTN’s non-telco businesses\n (43:40) - MTN 2020 asset sales and refocus on Africa business\n (46:00) - MTN today - financials, segment growth, etc\n (48:00) - Why they’re leaving the Middle East \n (53:40) - Bankole’s overall thoughts and outlook\n (55:44) - Olumide’s overall thoughts and outlook\n (62:30) - Olumide’s recommendations and small wins\n (66:04) - Bankole’s recommendations and small wins\n\n \n Olumide’s recommendations & small wins:\n\n Recommendation: Something Ventured (2011 Documentary about the origin of the VC industry)\n Recommendation: My life philosophy (JD Roth)\n Recommendation: Unusual ideas about self-care (by Paula Pant)\n Small win: Amazon Fresh Prime for groceries (reminds of 2010 when I used to order groceries from Tesco in the UK)\n\n \n Bankole’s recommendations & small wins:\n\n Recommendation: Collection of notable essays in Notion - Link\n Small win: Daily long
#22: African Corporate VCs & Softbank - Why African corporates are not investing in tech startups
Overview: Today we’re going to talk about African Corporate Venture Capital (CVC) using Softbank as a reference point. We'll talk about Softbank's early history, transition from operational to investment company, and finally dive into the current state and future potential of CVC in Africa. This episode was recorded on Feb 7, 2021\n \n Companies discussed: Softbank, Naspers / Prosus, MTN, Nedbank, Safaricom, Orange, Stripe, Visa, MasterCard, Tencent & Alibaba\n \n Business concepts discussed: Corporate Venture Capital (CVC), M&A strategy, Internal vs External innovation & developing market investment strategy\n \n Conversation highlights:\n\n (01:05) - Why we’re talking about Corporate Venture Capital\n (03:50) - Why we picked Softbank as a reference point\n (07:30) - Masayoshi Son background Softbank History \n (16:14) - Softbank acquisitions, investments & the Vision Fund\n (28:24) - Southern Africa CVCs - current & potential candidates\n (36:40) - West Africa CVCs - current & potential candidates\n (43:00) - East Africa CVCs - current & potential candidates\n (51:56) - North Africa CVCs - current potential candidates\n (53:40) - Non-African CVCs investing in Africa\n (59:30) - Bankole’s closing thoughts\n (1:11:55) - Olumide’s closing thoughts\n (1:23:38) - Recommendations and small wins\n\n \n Olumide’s recommendations, small wins & open questions:\n\n Recommendation: Billionaire's Build (Paul Graham): Wonderful article from PG about entrepreneur billionaires and how to get into YC.\n Recommendation: ESI millionaire interview 220: Great article telling the story of a 57 yr old woman journey to become a millionaire. Very inspirational!\n Recommendation: History of Japan video: Crazy 9 minute video. Fun!\n Small win: 4hr dinner with friends by the ocean. :)\n Other content: Techpoint Visa article & Packy McCormick's wonderful Tencent article (on Not Boring)\n Open question: What African companies would you like to see invest more in startups? And why?\n
#21: uLesson - How the EdTech platform is bridging the educational gap across Nigeria & Anglophone Africa
Overview: Today, we’re going to talk about uLesson - the African EdTech platform. We'll start with some context about education in Africa & Nigeria, talk about uLesson's early history, fundraising, product strategy & end with our views on its future outlook. This episode was recorded on Jan 24, 2021.\n Companies discussed: uLesson, Byju’s, School Visual, WhiteHat Jr, Yuanfudao & Owl Ventures\n Business concepts discussed: Education technology, monetization strategy, African expansion, product localization, new product development, growth/profitability trade-offs & equity fund raising\n Conversation highlights:\n\n (01:30) - Why we are talking about uLesson\n (04:15) - Nigerian / African educational context\n (22:08) - Sim Shagaya background, work experience\n (24:20) - Entrepreneurial ventures: e-Motion, DealDey, Konga\n (32:16) - uLesson founding and seed round\n (40:02) - $7.5M Series A overview\n (45:30) - Expansion to other African countries\n (50:45) - uLesson product & pricing strategy\n (1:02:45) - uLesson user growth and engagement\n (1:03:26) - uLesson competition across Africa\n (1:18:14) - Bankole’s overall thoughts and outlook\n (1:28:45) - Olumide’s overall thoughts and outlook\n (1:36:55) - Recommendations, small wins & open questions \n\n\n Olumide’s recommendations, small wins & open questions:\n\n Recommendation: The Chicken or the Exit (by Osarumen Osamuyi), Africa tech summit & How to make friends as an adult\n Small win: Spent Birthday Singing songs (Airbnb experience) with Broadway star (Stephen Carlile). Amazing.\n Other content: Techpoint tweet summarizing Sim's exits & Sim's uLesson announcement\n Other content: Blitzscaling: How not to go off the rails (David Sacks)\n Open question: What are the biggest challenges uLesson could face in 1-3 years? \n\n\n Bankole’s recommendations, small wins & open questions:\n\n Recommendation: Ask Your Developer & Gravity visualized - YouTube\n Other content: Sequoia funded companies tweets\n Sm
#8. Reliance Jio - How India's largest company enabled a mobile revolution & how Africa can also have a "Jio Moment"
Overview: Today we’re going to talk about the potential for a Reliance Jio moment in Africa. We'll start with some context of the Reliance parent group, its telco subsidiary - Reliance Jio (& its digital services subsidiary Jio Platforms) & their impact on India. Then we'll end by discussing ways Africa can also have a Reliance Jio moment. This episode was recorded on July 26, 2020. \n \n\n Companies discussed: Reliance group, Reliance Jio / Jio Platforms, Dangote Group, Remgro, Transcorp, Naspers, Safaricom / Vodacom, Transsion, América Móvil & MTN \n \n\n Business concepts discussed: India Tech, vertical integration, Low pricing strategy, import substitution, Industrialization, debt financing & equity fund raising, telecommunications & competition \n \n Conversation highlights:\n\n (00:30) - Why the Reliance Jio story is important to Africa\n (02:30) - Background on Reliance parent group - founding & IPO\n (05:20) - Reliance backward integration & expansion\n (07:20) - Similarities to African conglomerates\n (11:20) - Starting Reliance Jio Telecoms\n (13:40) - Jio impact on competition, Indian economy & consumers\n (19:20) - Jio 2020 fundraising\n (24:50) - How can we have a "Jio moment" in Africa?\n (26:30) - Western Africa candidates to create a Jio moment\n (29:30) - Southern Africa candidates to create a Jio moment\n (36:10) - Eastern Africa candidates to create a Jio moment\n (37:00) - African governments or Non-African candidates to create a Jio moment\n (42:50) - Bankole’s overall thoughts & outlook\n (47:08) - Olumide’s overall thoughts & outlook\n (51:10) - Bankole’s recommendation & small wins\n (55:07) - Olumide’s recommendation & small wins\n\n \n Olumide’s recommendations & small wins:\n\n Designing your life book (by Bill Burnett & Dave Evans)\n "Earnings calls" app by Borsa Finance --> It's earnings season!\n Kuda bank --> First digital-only Nigerian bank\n\n \n Bankole’s recommendations & small wins:\n\n You're Not Listening:
#17: Interswitch - How the pioneering Nigerian fintech & payments platform became one of the most valuable private companies in Africa
Overview: Today, we’re going to talk about Interswitch, the African fintech payments company, we'll discuss its founding, early history, growth, place in the broader African fintech ecosystem & end with our views on its future outlook. This episode was recorded on Nov 29, 2020.\n \n Companies discussed: Interswitch, Telnet, Visa, Helios Investment Partners, Stripe, Flutterwave, Paystack & Jumia Pay\n \n Business concepts discussed: Nigerian Payments ecosystem, payments partnerships strategy, card networks, payments infrastructure, low-end disruption, banking regulation & payments M&A strategy\n \n Conversation highlights:\n\n (02:40) - Why Interswitch is important \n\n (10:50) - Nigeria payments ecosystem and pre-Interswitch context \n\n (18:12) - Interswitch founding \n\n (22:40) - Interswitch fundraising from Helios, Visa etc and expansion \n\n (34:24) - Interswitch competition across Nigeria’s payment landscape \n\n (40:34) - Interswitch today - size, financials, margins \n\n (45:17) - Interswitch relative to competitors \n\n (56:37) - Bankole’s general thoughts and outlook \n\n (1:02:15) - Olumide’s general thoughts and outlook \n\n (1:04:15) - Recommendations, small wins and open questions \n\n\n \n Olumide’s recommendations, small wins & open questions:\n\n Recommendation: Reddit FATFIRE thread: "What asymmetric bets are you currently placing? Good discussion. A little bit of crypto, a little bit of leveraged investments, some talk about options, individual stocks. \n\n Small win: Using Fitbit Inspire 2 for sleep tracking (switched from Oura ring) \n\n Other content: Visa's 2020-Feb Investor day (slide 124) (from Visa's investors site) \n\n Open question: What can we learn from the founding of interswitch? \n\n\n \n Bankole’s recommendations, small wins & open questions:\n\n Recommendation: Invest Like The Best podcast ft Nick Kokkonas \n\n Small win: Easy does it in my Fantasy Premier League this season. Not doing exceptionally or doing well. \n\n
