#24: Neobanks (African WealthTech Pt 2) - How TymeBank, Kuda & other digital banks are delivering banking services across Africa
Afrobility: Africa Tech & BusinessMarch 08, 2021
24
01:34:18215.84 MB

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

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) - Focus on 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:


Bankole’s recommendations, small wins & open questions:


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