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Overview: Today, we’re going to talk about DPO Group. We’ll explore the story across the following areas African payments context DPO group’s early history Product & monetization strategy Competitive positioning & potential exit options overall outlook. This episode was recorded on Mar 5, 2023 Companies discussed: DPO Group, Network International, Apis partners, Flutterwave, Paystack, Interswitch, Safaricom, MTN, Airtel, Takealot.com, Superbalist.com, Safaricom, Yoco, PayPal & Chipper Cash Business concepts discussed: Bootstrapping, Payments ecosystem, payments partnerships strategy, payments infrastructure, low-end disruption, banking regulation, Mobile Money, E-commerce payments, Virtual cards & payments M&A strategy Conversation highlights: (04:40) - Africa Payment Context at time of DPO’s founding (12:46) - DPO Group Founding and early history (14:05) - Founder Background (25:57) - Fundraising and Growth (29:48) - Acquisitions and Partnerships (51:30) - Product and Monetization Strategy (1:00:05) - Competition (1:08:35) - DPO’s exit to Network International (1:27:15) - Bankole’s overall thoughts and outlook (1:39:10) - Olumide’s overall thoughts and outlook (1:47:01) - Recommendations and small wins Olumide’s recommendations & small wins: Recommendation: The War of Art: Book for creators and artists to get over the hump and release their inner creative expression to the world Recommendation: Naval Ravikant podcast with David Deutsch talking about Physics. Amazing episode. Having two of them together is incredible. Like having a rap collabo. Recommendation: Fela in Versace. Shit is too nice. I love songs that combine unrelated ideas Small win: Soul Cycle  for the First time. Dope shit. Bankole’s recommendations & small wins: Recommendation: Stratechery Podcast - Eric Seufert and Ben Thompson & Mike Munger on EconTalk on Decision-making Small win: I signed up for a gym membership for the first time ever 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 MFS Africa. We’ll explore the MFS Africa story across the following 5 areas: African payments context MFS Africa’s  early history Product & monetization strategy Competitive positioning & potential exit options Overall outlook. This episode was recorded on Jan 29, 2023 Companies discussed: MFS Africa, Safaricom (M-Pesa), Opay, Flutterwave, Paystack, MTN, Airtel, Orange, Chipper Cash, Ecobank, Safaricom, Homesend, TransferTo, MasterCard & Visa Business concepts discussed: Financial interoperability, mobile money (agency banking), banking regulation, acquisition strategy, payment processing, payment gateways & closed-loop payment networks Conversation highlights: (09:50) - Africa payments context and background (20:26) - MFS Africa founding and early history (22:06) - Founder background (31:40) - Fundraising and early growth (38:44) - Partnerships and M&A (1:02:15) - Product Strategy (1:06:30) - Monetization Strategy (1:13:59) - Competition and Options for Exit (1:28:51) - Olumide’s overall thoughts and outlook (1:34:00) - Bankole’s overall thoughts and outlook (1:47:00) - 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: Be Happy 35 Powerful Methods for Personal Growth & Well-Being. Talks about practices for a positive mental health. Fun short read that you can refer to time and time again Small win: Birthday celebrations with friends in Miami, NYC & SF. It was epic! Bankole’s recommendations & small wins: Recommendation: Accidental Gods by Anna Della Subin Small win: I read 3 books in January Other content: Afrobility Chipper Cash episode , Inside the MFS Africa acquisition of Beyonic  & Follow me on Goodreads 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 M-Kopa, the African asset financing platform. We’ll explore the M-Kopa story across 5 areas: African electrical power context M-Kopa's early history Product & monetization strategy Competitive positioning & exit options Then we'll end with our views on its overall outlook. This episode was recorded on Jan 15, 2023 Companies discussed: M-Kopa, Safaricom (M-Pesa), d.light, Zola Electric, Transsion, Samsung, Nokia (HMD global), Airtel, MTN,  Mobisol, Carbon & Fairmoney Business concepts discussed: Rural electrification, Payment infrastructure, Pay-as-you-go Solar, Off-grid energy, asset financing, credit scoring, risk assessment & renewable energy Conversation highlights: (05:45) - Africa electricity access context (09:45) - Kenya electricity access context (14:55) - M-Kopa early history (16:55 ) - Founders’ background (25:07) - Other ideas before M-Kopa and M-Kopa launch (28:44) - Launch strategy - partnerships, sales and distribution (32:05) - Fundraising, Growth, Geo Expansion, Team (54:01) - Product strategy and how the product works (1:06:04) - Monetization strategy (1:14:16) - Competition and options for exit (01:29:50) - Olumide’s overall thoughts and outlook (1:38:06) - Bankole’s overall thoughts and outlook (1:48:08) - 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 1: Descript: We use it for afrobility and even though I didn't initially think we needed it, it's grown on me. Especially now that I'm using it more aggressively for my personal finance book (myfiredom.com) editing Recommendation 2: Dances with wolves movie. So so good! Small win 1: Hung out with mum during thanksgiving break. It was cool! Small win 2: New years day with friends in London. It was nice! Bankole’s recommendations & small wins: Recommendation: Building an AI Chatbot off Podcast Transcripts Small win: Happy to be back home after months of travelling in Nigeria, Kenya, South Africa Other content: M-Kopa Solar Is Making a Profit on Poor Africans 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 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

Overview: Today, we’re going to talk about Wave, the African consumer payments company. We’ll explore Wave’s story across 5 areas: We'll start with some context about payments in Africa Wave's launch & early history Wave's Product & monetization strategy Wave's competitive positioning & potential exit options Overall outlook This episode was recorded on May 1, 2022 Companies discussed: Wave, Sendwave, Safaricom (M-PESA), bKash, TeamApt, Chipper Cash, Orange (Sonatel), Free (Tigo), Opay, Paga, MTN, Airtel, Zedbank & Kuda Bank Business concepts discussed: Consumer Fintech (Agency banking & mobile money), International expansion, banking regulation, low cost pricing strategy, customer acquisition strategy, innovator’s dilemma & low end disruption Conversation highlights: (01:02) - Wave context (09:13) - Financial inclusion context in Africa (30:10) - Founder background and Sendwave origins (36:06) - Wave Launch in Francophone Africa (54:20) - Fundraising strategy & investors (1:12:15) - Product and monetization strategy (1:34:28) - Competition and exit options (1:55:44) - Bankole’s overall thoughts and outlook (2:08:57) - Olumide’s overall thoughts and outlook (2:27:30) - Recommendations and small wins Olumide’s recommendations & small wins: Recommendation: Brené Brown was on the "We can Do Hard Things" podcast, on an episode called "What to Say to Get What You Need". Spoke about human connection. Truly awesome. I liked it so much I started reading Brene's book "Atlas of the heart".  Recommendation: Samora Kariuku's substack post about Wave Recommendation: Everett Randle’s (from Founders Fnnd) Substack post about Wave Small win: Got lost on the internet prepping for this episode and ended up watching hours of boxing matches. Don't ask 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: Laws of Trading & Only Murders In The Building Small win: Lots of dinners with friends and travel Other content: State of the Industry Report on Mobile Money & 406 Na D Code - Tekno and Falz 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.

Overview: Today we’re going to talk about Globacom - The Nigerian telecommunications company. We’ll explore the Globacom story across 5 areas: Nigerian telco sector context Globacom's early history Globacom's telco & non-telco businesses Globacom's potential exit options Outlook This episode was recorded on Apr 10, 2022 Companies discussed: Glo (Globacom), MTN, Airtel, NITEL (Nigerian Telecommunications Limited), Econet Wireless & 9mobile (Etisalat) Business concepts discussed: Telecommunications (Telco) strategy, Mobile money, Mobile Virtual Network Operators (MVNOs), Telco regulation, Celebrity advertising, Low-price telecoms strategy. Conversation highlights: (01:00) - Globacom background and why we’re talking about it (07:40) - Globacom founding and spectrum auction (20:30) - Mike Adenuga background (30:20) - Globacom launch (44:36) - Globacom African Expansion (56:50) - Globacom core Telecom business (1:07:58) - Globacom non-telco business (1:19:50) - Competition and IPO / spinoff? (1:29:48) - Bankole’s overall thoughts and outlook (1:40:10) - Olumide’s overall thoughts and outlook (1:46:30) - Recommendations & small wins Olumide’s recommendations & small wins: Recommendation: Marc Andreessen Blog archive ebook. Aggregates some of Marc's posts from the late 2000s. Insightful and very funny Small win: Hung out with my friend who was visiting from out of town (on a Wed night!) Thanks to Ifunanya Chiegboka for helping me think about Glo Story 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:  Invest Like The Best with David Rubinstein, We Need A Standard Unit Of Measure For Risk & The Next Google | DKB Small win: New whiteboard markers, changed the game. Good example of something small that changed the quality of my whiteboarding Other content: Nigerian Songs Referencing Mike Adenuga, Wizkid, Davido, Sunny Ade etc in Globacom advert & MTN - I don port commercial 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.

Overview: Today we’re going to talk about Telkom - The South African telecommunications company. We’ll explore the Telkom story across 5 areas: South African telecoms sector context Telkom's early history We'll deepdive into Telkom's primarily telco & non-telco businesses Telkom's operating & financial performance .Overall outlook. This episode was recorded on Mar 27, 2022 Companies discussed: Telkom, Vodacom, Vodafone, Cell C, MTN, Southwestern Bell Communications (now AT&T), Safaricom (M-Pesa), Rain Networks & Multilink Business concepts discussed: Telecommunications (Telco) strategy, Mobile money, Internet connectivity, International telecommunication expansion, Mobile Virtual Network Operators (MVNOs), Cell Towers spinoffs & Telco regulation Conversation highlights: (01:10) - Telkom and why we’re talking about it (07:12) - South Africa context (13:20) - Telkom’s transition to commercial company (15:30) - SBC and Telekom Malaysia investment in 1997 (18:44) - 2003 IPO (31:20) - Telkom sale of Vodacom stake (33:00) - Telkom market expansion (42:17) - Telkom’s mobile business (53:08) - Telkom’s non-telco businesses (57:38) - Investments and Partnerships (1:00:38) - Financial results and stock performance (1:06:44) - Olumide’s overall thoughts and outlook (1:22:40) - Bankole’s overall thoughts and outlook (1:34:55) - Recommendations and small wins Olumide’s recommendations & small wins: Recommendation: The Wealthy Gardner, Generalist AngelList article (AngelList is probably my favorite company in the world), Live life with Passion (Brendon Burchard) Recommendation: AwardLogic & Point.me. There's never really been an Expedia of airline miles Small win: Got Samsung Galaxy S22, looks nice. Just need to set it up 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: Margin of Safety by Seth Klarman & Encanto Small win: Played basketball for the first time in several months Other content: San Francisco Has Become a Shoplifter’s Paradise 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.

Overview:  Today we’re going to talk about Vodacom - The South African telecommunications company. We’ll explore the Vodacom story across 5 areas: South African telecoms sector context Vodacom's early history Vodacom's telco & non-telco businesses Vodacom's operating & financial performance Overall outlook This episode was recorded on Mar 13, 2022 Companies discussed: Vodacom, Vodafone, Safaricom (M-Pesa), Telkom, MTN, Airtel & Glo Business concepts discussed: Telecommunications (Telco) strategy, Mobile money, Internet connectivity, International telecommunication expansion, Mobile Virtual Network Operators (MVNO), Cell Towers spinoffs, Rain & Telco regulation Conversation highlights: (00:45) - Vodacom context (07:50) - Vodacom early history (20:50) - Vodacom International expansion (38:04) - Vodacom’s telco business (45:44) - Non-telco businesses (55:50) - VodaPay and Safaricom (M-Pesa) (1:10:12) - Vodacom - Financials & customer (1:19:15) - Bankole’s overall thoughts and outlook (1:29:52) - Olumide’s overall thoughts and outlook (1:36:10) - Recommendations and small wins Olumide’s recommendations & small wins: Recommendation: The Truman show: I rewatched this, it's marvelous, dystopian and funny. That movie is a work of art. Recommendation: I got a satchel aka man bag aka man purse. I like it, it works because I typically have too much shit to fit in my pockets Small win: Bankole's wedding in Chennai. It was epic 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: Good Economics for Hard Times by Abhijit Banerjee and Esther Duflo & Cold Outside - Timaya and Buju Small win: I got the new Macbook M1 Pro. Beautiful, sweet machine. Other content: Governance of Telecommunications: Two Decades of Reform in South Africa & Vodacom and DHL in Africa Listeners, Operators & Investors: Email info@afrobility.com, we’d love to partner or get your feedback. Join our insider mailing list where we get feedback on new episodes & find all episodes at Afrobility.com

Overview: Today, we’re going to talk about MAX - the Nigerian mobility tech platform. We’ll explore Max's story across 6 areas: Context on motorbike transportation platforms in other emerging markets Background on Nigeria transportation Max.'s launch, early history, growth over time & fundraising Product & monetization strategy Competitive positioning & potential exit options Overall outlook This episode was recorded on Jan 30, 2022 Companies discussed: MAX (Max.africa, Max.ng), GiG Logistics, Red Star Express, Gokada, GoJek, Breakthrough Energy Ventures, Jumia Food, Konga, Uber, Africa Courier Express (ACE), Pathao, Flutterwave & Safeboda Business concepts discussed: Ridesharing, Mobility in emerging markets, Debt Fundraising by startups, Conversation highlights: (01:20) - MAX.Africa context (07:20) - Ridesharing in emerging markets (GoJek) (10:30) - Transportation Mobility in Nigeria (15:00) - Background on the founders - Tayo Bamiduro and Chinedu Azodoh (18:50) - Founding and early history of MAX (22:05) - Fundraising and early growth (38:20) - Metrics and traction (59:39) - Product & monetization strategy (1:16:51) - Competition and options for exit (1:31:30) - Bankole’s overall thoughts and outlook (1:45:25) - Olumide’s overall thoughts and outlook (1:53:55) - Recommendations and small wins Olumide’s recommendations & small wins: Recommendation: Good time (Owl City & Carly Rae Jepsen): Love it! I can listen to on repeat for the rest of my life,  Thinking in bets (Annie Duke). Life's Most Bitter Truth: What Your University Never Taught You (MJ Demarco):Talks about the value of time and having experiences and building financial independence in your youth. I'm one of the biggest Mj Demarco Fans so no doubt I love this video Small win: Celebrating birthday with friends 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: Levels - Flavour & Rebel - Shenseea Small win: Lots of sports weekend of Jan 27 - NFL, Chelsea FC, AFCON, UFC Other content: Jukedeck, AI- generated music startup acquired by TikTok - Jukedeck - https://soundcloud.com/jukedeck & Nearly All The Men in Lagos Are Mad - Amazon & How to Decide by Annie Duke - Amazon Listeners, Operators & Investors: Email info@afrobility.com, we’d love to partner or get your feedback. Join our insider mailing list where we get feedback on new episodes & find all episodes at Afrobility.com

Overview: Today, we’re going to talk about Gokada - the Nigerian mobility tech platform. We’ll explore the Gokada story across 5 areas: African ridesharing context Gokada's launch, early history, growth over time & fundraising Product & monetization strategy Competitive positioning & potential exit options Overall outlook This episode was recorded on Jan 9, 2022. Companies discussed: Gokada, GoJek, Max.ng, Pathao, Bolt, Uber & Jumia Business concepts discussed: Mobility, logistics, delivery, bike-sharing & tech regulation Conversation highlights: (01:00) - Gokada context (06:50 - Bike-sharing platforms in other markets - GoJek (17:44) - Nigeria transportation context (48:00) - Gokada founding & early history (1:02:00) - Fundraising & growth (1:08:00) - Product & monetization strategy (1:28:00) - Competition & exit options (1:36:13) - Olumide’s overall thoughts & outlook (1:44:45) - Bankole’s overall thoughts & outlook (1:54:44) - Recommendations & small wins Olumide: Recommendation: How Airlines quietly became banks: Wonderful video that matches a bunch of my interests. Reward programs + corporate finance. Sweet! Recommendation: 9 things I learned about Productivity this year (David Cain). Amazing article about productivity and procrastination Win: Got Logitech Brio & started using Windows Hello Other content: Lagos BRT case study 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: Recommendations: Moxie Marlinspike My first impressions of web3, Why Is There Confetti In So Many Taser Guns & Come My Way (Wande Coal) Win: Saw Kamaru Usman in Lagos! Other content: Gokada finds new growth in logistics, Gokada is not okada, History of Gokada, road quality report (WEF) & The Flip Podcast - S2E3: Finding Fit - Opportunities in the Global South 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 Pathao - the largest mobility tech platform in Bangladesh. This episode was co-hosted with Shammi Quddus and recorded on Nov 21 & Dec 5, 2021. Conversation highlights: (10:15) - Motorbike sharing platforms in emerging markets - GoJek (11:00) - Bangladesh context (44:40) - Pathao founding story (1:05:20) - Fundraising and growth (1:19:10) - Product & monetization strategy (1:49:13) - Competition & Exit options (2:10:30) - Overall thoughts (Bankole, Shammi & Olumide) (2:32:04) - Recommendation &small wins Companies discussed: Pathao, bKash, Uber, GoJek, Shohoz, Tootle, Chalo, RC Ventures & Battery Road Digital Holdings Business concepts discussed: Ride-sharing platforms, Transportation in emerging markets, Transportation + FinTech Super apps Olumide’s recommendations & small wins: Recommendation: Mastery (George Leonard) & Derek Sivers’ wonderful article about emotions and life Win: Hung out with a bunch of folks at Miami Art Basel 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: Ozumba Mbadiwe - Reekado Banks & 52 things I learned in 2021 by Tom Whitwell Win: First real corporate party in a while - Other: Nigeria highest importer of used vehicles in Africa & F-commerce: a double-edged sword Shammi’s recommendations & small wins: Recommendation: Beginner’s Moonshot: Podcast on Bangladeshi tech founders (English) by Salman Hossain Win: Watching comedian Hassan Minhaj perform. The King’s Jester is on the road now! Other: Registered vehicles in Dhaka, Pathao GoJek raise and write-off,  Uber launch story in Dhaka 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 have a creator roundtable to discuss the African tech ecosystem. We’ll discuss the biggest 2021 moments in Africa Tech and our hopes for the ecosystem in 2022. This episode was co-hosted with Justin Norman & Samora Kariuki and recorded on Nov 28, 2021. Companies discussed: Adamantium Fund, The Flip Podcast, Frontier Fintech newsletter, Wave, Andela, Flutterwave, Entrepreneur First, Safeboda, Chipper Cash, FTX, Upstart, Helium Health (Magic Fund), Twiga Foods, Omnibiz, Safaricom, mPharma & Paystack Business concepts discussed: M&A, regulation, employment enablement, infrastructure moats, Web3 decentralization, fundraising strategy, operator-investors & Central Bank Digital Currencies (CBDCs) strategy Conversation highlights: (01:10) -  Adamantium Fund (early stage Africa Tech investment fund) announcement (07:50) - 2021 moments in Africa Tech: Samora, Justin, Bankole & Olumide (1:08:20) - What I would like to see in Africa Tech 2022: Samora, Justin, Bankole & Olumide (1:40:08) - Roundtable creator questions (2:22:30) - 2022 plans: The Flip Podcast, Frontier FinTech newsletter & Afrobility Podcast (2:33:40) - Recommendations & small wins Olumide’s recommendations & small wins: Recommendation: Workout dance/aerobics classes & Encanto movie Small win: Talking to people about the about-to-launch Adamantium Africa Tech fund (memo). Great conversations with potential LPs. Exciting! Email olumide@afrobility.com if you're interested in investing Bankole’s recommendations & small wins: Recommendation: The Reckoning (Jacob Soll) Small win: Great holiday over thanksgiving Samora’s recommendations & small wins: Recommendation: The Box (by Marc Levinson) Small win: Moving to Kenya permanently next week (from Burundi) with my German Shepherd Justin’s recommendations & small wins: Recommendation: Micah Johnson’s NFT project Aku Small win: My alma mater the University of Michigan beating Ohio State in football. Interested in investing in Africa Tech. Read about Adamantium fund & contact olumide@afrobility.com for more info 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