This week, another Nigerian startup Chipper Cash became a unicorn. For the uninitiated, a unicorn is a startup that is valued at 1 billion USD and above.
Some of the other African unicorns are;
Interswitch, Fawry, Flutterwave, Jumia and Opay.
If building a Unicorn in Silicon Valley and other developed ecosystems is hard, then building a Unicorn in Africa can only be described as atlassian. So the companies that have managed to do this should be given ALL their flowers. Congrats to Chipper Cash.
Business and enterprise have always been drivers of change both negative and positive in society. The…
If I asked you what the best social media channels for your business are, you might say “I make the most sales on Instagram” or Twitter, or Facebook or even WhatsApp. But if I asked you why that was the case, you might stumble a bit. This is normal, in an earlier article, I spoke about market research and why it was important to conduct it before you start your business. You can find it here.
What I did not talk about is how important it is to continue investing in market research while you run your business as this…
African weddings are an expensive affair, with Konbini reporting that the average Nigerian wedding costs between $10,000 to $15,000 with some going as high as $300,000. This means that almost nobody gets married without some form of assistance from friends, family & colleagues.
Take Michael Adebowale, he works in a bank as a teller and earns around $552 a month but pays out close to 70% of that for rent, utilities, contributions to his family, and food, this means he has barely anything to save or to make big purchases.
The budget for his wedding is $8000. There is no…
The importance of carrying out market research before you start a business CANNOT be overrated.
Building a business is hard, building a business in Africa is harder. Chances are you cannot control most things related to the success of your business so for the things you can control, make sure to control them properly.
When you start thinking about starting your business, here are a few things you need to consider;
As a small business owner, your biggest problem will always be; “how can I acquire new customers in the most efficient way possible”. Efficient in this case means, at the lowest cost possible in a way that is consistent and requires the least effort you can put into it.
Unless you are one of the very lucky few who have figured this out, this is probably what keeps you up at night.
This article will attempt to explain one of the ways you can think about customer acquisition by taking a holistic view of your business and its relationship with…
If you have a pulse and have been on the internet in the last few years, you must have come across some quotes, or motivational speaker explaining how there is so much money to be made in real estate.
The details, however, tend to be very sparse on how exactly real estate generates money and builds wealth.
In this article, I’ll be taking you through the four major ways real estate builds wealth.
Let’s get this out of the way immediately, alternative means “not mainstream”. It does not imply inferiority. And what is considered mainstream has always been very arbitrary. For example, in Europe & Asia, while Afrobeats music is very popular especially recently, it would still be considered an alternative form of music. However, In Africa, that same music is as mainstream as mainstream can get.
Before the 1900s in West Africa, brick and mortar would have been considered an alternative material while mud was the mainstream, it’s interesting to see the role reversal that has taken place in less than 200…
I’m going out on a limb to assume that you know you should be investing your money rather than just parking it in the bank. Apart from the abysmally low-interest rates you get on savings accounts & fixed deposits in this part of the world, nobody ever saved their way to sustainable wealth.
The bank is also actually investing the money you have saved with them and using it to make huge revenues. Make of that what you will.
The major thing that separates you from the wealthier people in your society is their bigger risk appetite which is necessary…
Scrolling through the Cofundie platform, you will notice a couple of terms recur fairly regularly in our attempt to give you the details of the deals & investment opportunities.
For the most part, these terms are industry standard and similar to the general definitions while some are more specific to Cofundie & our unique model.
This article will contain detailed explanations of what the different terms mean, how they affect you and what they mean for the investment opportunity you are currently exploring.
This is the total amount in per cent you can expect to make back from your initial…
According to PWC, the population in Sub-saharan Africa will hit 1.5 billion by 2030. What we know for sure is that all these new people will need a place to live, play and work. However, there is currently a housing crisis with a need for at least 20 million units every year in Nigeria and Ghana alone in order to mitigate this. This presents a huge opportunity for property developers and investors, but also a need for more innovative solutions, than what is currently available, to address this urgent housing emergency.
Cofundie is an organisation working to make the real…
Passionate about building Africa-centric companies, studying socially conscious capitalism. Always ready to have a conversation about Game of Thrones