22 episodes

The Flip is an editorial-style podcast exploring contextually relevant insights from entrepreneurs and investors changing the status quo in Africa. The name The Flip comes from the opportunity to flip the script – question some of the pervasive narratives on entrepreneurship, challenge the ubiquity of Silicon Valley thought leadership, and champion the entrepreneurs building a future inspired by Africa. Produced and hosted by Johannesburg-based entrepreneur and American expat Justin Norman. Sayo Folawiyo is the executive producer and b-mic.

The Flip Justin Norman

    • Entrepreneurship
    • 2.4 • 13 Ratings

The Flip is an editorial-style podcast exploring contextually relevant insights from entrepreneurs and investors changing the status quo in Africa. The name The Flip comes from the opportunity to flip the script – question some of the pervasive narratives on entrepreneurship, challenge the ubiquity of Silicon Valley thought leadership, and champion the entrepreneurs building a future inspired by Africa. Produced and hosted by Johannesburg-based entrepreneur and American expat Justin Norman. Sayo Folawiyo is the executive producer and b-mic.

    Connecting the Dots - Japanese Corporates and African Tech

    Connecting the Dots - Japanese Corporates and African Tech

    This season we've talked about the relationship between African tech and other emerging markets across the Global South, as well as with China. In this episode, we talk about the ecosystem's relationship Japan - and in particular, the interest Japanese investors and corporates have in innovations from the continent. 
    1:33 - Satoshi Shinada and Rio Yamawaki on the macro situation in Japan, and why Japanese investors are interested in African tech. Satoshi and Rio are GPs at Kepple Africa Ventures, one of the most active VCs on the continent. 
    5:58 - The primary reason why Japanese corporates are interested in investing on the continent is to form strategic partnerships and bring African innovation back with them. 
    9:43 - We explore a case study - the investment in Kenyan startup PayGo Energy by Saisan, a Japanese multinational gas company. We hear from PayGo's Co-founder and CEO Nick Quintong.
    14:48 - A reflective conversation between Sayo Folawiyo and Justin Norman, on the value of Kepple, not only in connecting the dots, but in seeing and knowing which dots to connect between Japan and the continent, and on the opportunity for technology export. 

    • 23 min
    Telcos, PalmPay, and the Future of Mobile Financial Services

    Telcos, PalmPay, and the Future of Mobile Financial Services

    In this episode, we explore the evolution of mobile financial services and the opportunity to deepen financial inclusion in African markets. This opportunity exists for mobile network operators, as well fintechs like PalmPay, backed by hardware manufacturer Transsion, whose smartphone brands - Tecno, Itel, and Infinix - account for over 50% of smartphone devices on the continent.
    1:55 - We explore the evolution from USSD-led Mobile Money 1.0 to smartphone-led Mobile Money 2.0, with Hover's Wiza Jalakasi.
    5:11 - Chris Williamson, the Head of M-Pesa at Vodacom Group, describes the future of M-Pesa and mobile financial services, and the role M-Pesa wishes to play to broaden the use cases and lay the rails for others in the ecosystem to build on top of.
    10:27 - We also hear from Ramatoulaye Adama Diallo, the CEO of Orange Money Senegal, on Orange's approach to increasing the utilization of mobile financial services, and their role in the development of the tech ecosystem.
    14:24 - While telcos have an outsize advantage from a distribution and customer perspective, so too does Transsion. We speak to PalmPay's Sofia Zab on how the fintech is leveraging their strategic investment from Transsion to integrate financial services into the hardware, and on the work they are doing to build out the digital use cases for its users. 
    20:16 - Where are there opportunities for startups to partner with MNOs or manufacturers, and how do they go about developing said partnerships? We hear from two emerging market fintech veterans - Adia Sowho and Hayden Simmons. 
    26:05 - As always, a reflective discussion between Sayo Folawiyo and Justin Norman - this week, on the differences between and opportunities for telco-led versus hardware-led mobile financial services.

    • 30 min
    Building for Purpose - China-Africa Tech

    Building for Purpose - China-Africa Tech

    This week, we explore a hypothesis - that the lessons and models from Chinese tech companies have merit in African markets, given certain similarities between China’s development and the current conditions on the continent. 
    2:06 - DFS Lab's Stephen Deng on the experience of Chinese entrepreneurs and investors, and the lessons from leapfrogs in China that may have merit in Africa.
    5:37 - We hear from Laura Li, VP of Investments of Future Hub, an early-stage investor and accelerator backed by Transsion, the number one cell phone manufacturer on the continenet, and parent company to Tecno, Itel and Infinix.
    7:43 - A discussion with Vincent Li, the CEO of Future Hub, and Laura on the opportunities they see on the continent, in ecommerce, logistics, social media, and more. 
    14:50 - Another Transsion-backed company, PalmPay, is also leveraging Transsion's distribution and insights from China to grow in Nigeria and beyond. We hear from Sofia Zab, PalmPay's Global Head of Commercial & Marketing.
    20:27 - As always, a reflective conversation between Justin Norman and Sayo Folawiyo, on social commerce and superapps. 
    24:37 - Part two with Justin and Sayo, on mobile money-enabled business models.

    • 31 min
    A Fintech Exit - Inside the MFS Africa Acquisition of Beyonic

    A Fintech Exit - Inside the MFS Africa Acquisition of Beyonic

    Last episode, we went on a hypothetical startup journey from idea to exit. In this episode, we go on a real one.
    In June of 2020, MFS Africa announced the acquisition of Beyonic. Together, the combined company of 95 employees now enables mobile money interoperability between markets and mobile network operators, and offers a suite of tools for SMEs, in 30-plus African markets. We go inside the acquisition - how it came together, why it makes sense, and what it means -  both for the two companies and their stakeholders and for the ecosystem as a whole. 
    2:27 - Introducing some of the main players in the deal - Dare Okoudjou, the Founder & CEO of MFS Africa, Luke Kyohere, Founder of Beyonic, Carina Rumberger, CEO of Beyonic and Rachel Balsham, Deputy CEO of MFS Africa.
    3:43 - We go back to 2009, when Dare left MTN to start MFS Africa. What was it like running the business in those early days building the foundation and infrastructure for mobile money usage across the continent? 
    7:55 - Luke takes us back to the beginning of Beyonic, where he saw an opportunity to build out tools for SMEs using mobile money.
    11:22 - In 2018, after a sizeable fundraise, MFS Africa set out to scale. Two of their strategies included a) exploring tools for SMEs, and b) making minority investments in other complementary fintech startups across the continent. As these two strategies converged, Dare and Luke re-connected to talk fundraise. 
    16:11 - The discussions minority investment quickly became a majority investment and then a full acquisition. Dare, Rachel, Luke and Carina recount their respective thoughts on strategy, and how and why a full acquisition became the deal they pursued together. 
    19:39 - We get into the weeds a bit on tactics - what was the sell-in process like to each respective company's employees, shareholders and customers? 
    26:09 - On integration - of the teams and of the products. 
    30:07 - What does this deal - fintech consolidation, an African fintech acquiring another African fintech - mean not only for the newly combined company but for the African tech ecosystem as a whole? 

    • 38 min
    From Idea to Exit - A Startup Fundraising Journey

    From Idea to Exit - A Startup Fundraising Journey

    This episode, we go on a hypothetical startup fundraising journey, from idea to exit. 
    2:04 - At the earliest stage, angel and venture investing is quite subjective, says Zachariah George, angel investor and Managing Director of LaunchAfrica. 
    3:46 - Because of the subjectivity, metrics and valuations don't matter as much at this stage. We hear from Chidinma Iwueke, Partner at pre-seed fund Microtraction, on their standard deal terms.
    4:56 - A discussion with Andreata Muforo on how TLcom Capital approaches seed and Series A stage valuations.
    8:56 - We hear from Cikü Mugambi of the IFC's Disruptive Technologies and Venture Capital team, how they leverage comparables of other emerging market startups in their portfolio to value prospective investments in Africa. 
    11:12 - Andreata and Cikü share their views on the exit paths for their portfolio companies. 
    13:17 - After venture capital comes private equity, and a discussion with Helios Investment Partners' Fope Adelowo.
    19:37 - We hear from Victor Basta on what mergers and acquisition opportunities for tech-enabled companies, and discuss how founders and CEOs need to prepare for an exit. 
    27:08 - As always, a reflective conversation between Justin Norman and Sayo Folawiyo.

    • 35 min
    Finding Fit - Opportunities in the Global South

    Finding Fit - Opportunities in the Global South

    We dedicate this episode to Fahim Saleh, the Founder and CEO of Gokada, who was killed in New York City on July 13th. Our heartfelt condolences go out to his family and the entire Gokada team.
    This year, Nigerian fintech companies Paga and Migo are expanding to Latin America, to Mexico and Brazil, respectively. Another Nigerian startup, Gokada, was launched by an entrepreneur who built a successful ride-hailing company in Bangladesh, where there was a similar set of market conditions. In this episode, we explore the similarities - and the opportunities - between emerging markets across the Global South. 
    3:57 - Why is Paga expanding to Mexico? And why is Migo expanding to Brazil? We hear from Paga's CEO Tayo Oviosu, and Migo's former VP of Growth, Adia Sowho. 
    7:42 - Fahim Saleh launched Gokada after successfully founding a ride-hailing company in Bangladesh. What was it about Nigeria, and his experience in Bangladesh, that compelled him to move to Nigeria to build Gokada?
    12:39 - Investors like Cikü Mugambi with IFC's venture capital team, in evaluating deals are increasingly looking to markets in Latin America and South Asia for comparables and insights. 
    14:32 - Sayo Folawiyo and Justin Norman sit down to reflect on this topic, and discuss the notion of market size and under penetration of financial services as the core driver of opportunity for startups in Africa, Latin America and South Asia alike.

    • 20 min

Customer Reviews

2.4 out of 5
13 Ratings

13 Ratings

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