Ekechi Nwokah is the CEO and founder at mines.io, a startup that provides technology infrastructure which enable local institutions such as banks, mobile phone operators, retailers in emerging market &nbsp;to offer credit to their customers. &nbsp; Mines use a combination of big data, AI and Machine learning algorithm to provide on-demand credit ratings and decision-making where there is no existing credit history. &nbsp; In 2018, Mines raised $13 million Series A funding from several VC within and outside Africa. &nbsp; I have a strong view and criticism against micro-lending businesses, especially in places where the poor pay disproportionate high interest rate, Ekechi made a strong counter argument to my criticism, and offered good explanation that changed my mind on a lot of them. &nbsp; Ekechi has PhD in computer engineering, and has extensive experience working as a software engineer at Amazon. &nbsp; In this episode you’ll learn: &nbsp;  Lessons from his early days as an upcoming musician in United States How he fought depression after his music career did not take off How was &nbsp;MINE-IO ideated? Why did he go back to paid employment for 8 years? How and why did his milk importation business from Uganda to Nigeria fail? What were the challenges? That Ekechi tried for ten years to create a successful business before he finally hit with Mines.io What was driving him in the midst of all that failure and challenges? Moving back to Nigeria, the challenges and overcoming them. How to mitigate business risks without the support of a strong legal system. Why does he think the banks do not need to be disrupted? The importance of local founders in building the Nigerian future The importance of partnerships in the success of a business At Mines.io, how do they intend to deal with the challenge of people not paying their loans? What delivers business success in Nigeria? Taking tech built in Nigeria outside the continent And more  &nbsp; Selected links from this episode &nbsp;  Echo VC Singularity Trans sahara Greenhouse capital Flutterwave Paystack Interswitch 9mobile

#63, Lesson in humility. Building business in emerging market. Ekechi Nwokah, CEO & Founder at Mines.Io

&nbsp; Get The Entrepreneur's Guide to Launching Profitable Facebook and Instagram Ads here! This is the Facebook Ads Mastery you need to run successful ad campaigns. Adam Grunewald is the co-founder and CEO of Lynk, a platform designed to provide technology-based solutions for the massive informal labour sectors in Kenya. Adam has worked at Google as a project manager on new and emerging projects in the United States and Kenya. Driven by the urge to create a reliable employment system for manual workers in Kenya, &nbsp;he created Lynk in late 2015. Lynk has raised $1m in funding and is currently fundraising. &nbsp; In this episode you’ll learn:  Adam’s love for Kenya and how he began living in the country How was Lynk ideated? Why Lynk sticks to a manual vetting process for labour getting on their platform How to ensure a successful match between demand and supply? What is the difference between the Lynk model and an open marketplace? The difference between a horizontal and vertical marketplace What are the three questions you have to answer before building an online marketplace? How to ensure your total addressable market is big enough for scale Dealing with quality control in a lead generation market place How do you minimize platform leakages? How does Lynk reduce friction for platform users? The disadvantages of scaling prematurely And more  Selected links from this episode  Task rabbit Angie’s list Craigslist  Selected books from this episode   Bridging The Gap  Don’t miss new episodes of Building the Future Podcast     &nbsp; Building The Future Podcast&nbsp;Season 3&nbsp;is sponsored by Flutterwave  Flutterwave drives growth for banks and businesses across Africa through digital payment technology.&nbsp;You can learn more about their activities&nbsp;here.

#64, On building an online marketplace in Africa: not as easy as it looks. Adam Grunewald, CEO & Co-Founder at Lynk

&nbsp; Dustyn Winder is the co-founder and managing partner at Akili.Vc Akili is a pre-seed to Series A fund tailored for Africa. Their philosophy is based on the belief that there are very interesting problems that are often difficult for entrepreneurs to execute on, whether because they are hidden inside corporations, neglected in disaffected communities, or in geographies that present different challenges than traditional startup markets. Thus they are bringing the Prehype model (an organization Akili spun out of) &nbsp;to Africa to help finance African entrepreneurs solving African problems. Prehype is a venture development firm that focuses on building products and companies through collaboration with corporations and venture capitalists. Dustyn has lived in Kampala, Uganda for 10 years and has immense love for Africa as well as big hopes for the African tech ecosystem. &nbsp; In this episode you’ll learn:  Why Akili is more focused on generating capital than raising money. Does their approach limit them to the types of businesses they go into? What is the importance of portfolio construction? How they manage venture and corporate funds. The reason behind the decision to Invest majorly in east Africa. What is distinctive and differentiative about their thesis? Why are they in Africa? The Technicalities of raising money from corporates. How to manage the investor/investee relationship. What is Dustyn’s opinion on Exits? Their plans for 2019 and how it will create opportunities for other investors. An introduction to corporate venture. And more  Selected links from this episode  Prehype  &nbsp;

#65, Why generating capital is important for African startups. Thesis on exits and how to manage corporate funds. Dustyn Winder, Co-Founder and Managing Partner at Akili

Get The Entrepreneur's Guide to Launching Profitable Facebook and Instagram Ads here! This is the Facebook Ads Mastery you need to run successful ad campaigns. Steve Grin is the Managing Partner at Lateral Capital, a firm that invests in early and growth stage opportunities in sub-Saharan Africa. Their Fund backs technology-enabled businesses that profitably solve significant pain points across critical infrastructure verticals: financial services, energy, healthcare, and education. Steven is a seasoned entrepreneur and investment professional with twenty years of experience investing as a principal and fund manager across the globe. He has extensive experience in real estate development, energy, and venture investing. Prior to co-founding Lateral, Steven was a Director in the Office of the President of Guyana where he held responsibility for the implementation of their low-carbon development strategy and the execution of large-scale initiatives in the energy and infrastructure sectors. Steven graduated from the School of International and Public Affairs at Columbia University and has a B.A. in Finance and Philosophy from New York University. &nbsp; In this episode you’ll learn:  How he got into the business of venture capital How did he make the transition in his career from real estate investing? According to Steve, “Big ideas hit brick walls fairly quickly”. Find out what he meant What are the market gaps and opportunities in Africa? How did Lateral Capital start? Where were the initial funds sourced from? The importance of SMEs to every economy. What is Lateral Capital’s thesis about? What is the basis for the thesis behind Lateral Capital? What they have learnt and invalidated about investing in Africa? What is the length of time an investor should be expecting returns? Steve has some reservations about the 220 investment model, find out what they are. What is the best way to do venture in Africa? Other ways to get returns on investment without selling it. What kind of LPs do they target and what are the terms of their fund? The growth drivers for your business. Distinction and importance of financial, human and physical capital in a business. And more  Selected links from this episode  Paystack Flutterwave Kobo360  &nbsp; &nbsp; Building The Future Podcast&nbsp;Season 3&nbsp;is sponsored by Flutterwave  Flutterwave drives growth for banks and businesses across Africa through digital payment technology.&nbsp;You can learn more about their activities&nbsp;here.

#66, Doing venture investment in Africa. How to validate your assumptions. Steve Grin, Managing Partner at Lateral Capital

We have now come to the end of season 3! It has been such an exciting journey, one I hope you enjoyed as well. Please listen to my review of the season, what you can expect from next season and when we will be returning.

BTF Podcast Season 3 Finale

One on one interviews with people who are using technology, entrepreneurship and innovative ideas to shape the future of Africa.

Building the Future Podcast

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