#24: Neobanks (African WealthTech Pt 2) - How TymeBank, Kuda & other digital banks are delivering banking services across Africa

Afrobility: Africa Tech and Business

Innehåll tillhandahållet av Olumide Ogunsanwo and Bankole Makanju, Olumide Ogunsanwo, and Bankole Makanju. Allt poddinnehåll inklusive avsnitt, grafik och podcastbeskrivningar laddas upp och tillhandahålls direkt av Olumide Ogunsanwo and Bankole Makanju, Olumide Ogunsanwo, and Bankole Makanju eller deras podcastplattformspartner. Om du tror att någon använder ditt upphovsrättsskyddade verk utan din tillåtelse kan du följa processen som beskrivs här https://sv.player.fm/legal.

4y ago 1:34:18

MP3•Episod hem

Overview: Today we’re going to discuss the rise of Neobanks in Africa. We’ll start with reviewing Neobanks in other emerging markets, discuss the landscape of neobanks across different African regions & end with our general thoughts and outlook. This episode was recorded on Mar 7, 2021.

Companies discussed: Nubank, TymeBank, Kuda Bank, Umba, DoPay, Zazu, PiggyVest, Cowryrise, Risevest & Bettr

Business concepts discussed: Retail banking strategy, African customer segmentation strategy & low-end disruption

Conversation highlights:

(01:00) - Neobanks context and background
(02:20) - Why we’re discussing neobanks
(03:20) - The Nubank story: Brazil background, growth, strategy and fundraising
(17:09) - Context and background on banking in Africa
(17:40) - Banking context in Nigeria, South Africa and Kenya
(23:50) - Opportunities and challenges for Africa’s neobanks
(34:54) - Neobank startups in South Africa
(35:40) - Tyme Bank deepdive
(44:25) - Neobank startups in West Africa
(45:10) - Kuda Bank deepdive
(53:40) - Neobank startups in East Africa
(56:40) - Neobank startups in North Africa
(1:01:30) - International candidates to create neobanks in Africa
(1:05:40) - Bankole’s overall thoughts and outlook
(1:18:10) - Olumide’s overall thoughts and outlook
(1:28:56) - Recommendations, small wins and open questions

Olumide’s recommendations, small wins & open questions:

Recommendations: Unscripted: Life, Liberty, and the Pursuit of Entrepreneurship (MJ Demarco), When 95% of your customers can’t afford $30/year (by Jason Njoku): Great article, it has similar themes to our uLesson pricing strategy discussion & 3 Idiots (2009 movie): Outstanding movie about friendship, creating your own path in life & education
Small win: Setup my Staples Dexley chair. Gotta get the right gear if you're working from home all the time
Open question: What's the best starting point of features if you want to build a consumer wealthtech app?

Bankole’s recommendations, small wins & open questions:

Recommendations: The Creator Economy (by Packy McCormick) & Frontier Fintech Substack (by Samora Kariuki)
Small win: Fixed my routine and exercising regularly
Other content: Invest Like The Best podcast episode on Tinkoff Bank
Open question: Are you optimistic or pessimistic on the potential for neobanks? What are we missing?

We’d love to hear from you. Please email info@afrobility.com to share feedback or propose topics you’d like to hear.

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